Healthcare Data Storage Market
PUBLISHED: 2023 ID: SMRC24060
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Healthcare Data Storage Market

Healthcare Data Storage Market Forecasts to 2030 - Global Analysis By Type (Magnetic Storage and Flash & Solid-State Storage), Data Type, Deployment, Architecture, Storage System, Application, End User and By Geography

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Published: 2023 ID: SMRC24060

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Healthcare Data Storage Market is accounted for $4.6 billion in 2023 and is expected to reach $13.3 billion by 2030 growing at a CAGR of 16.3% during the forecast period. Electronic health records (EHRs), medical photographs, patient data, and other healthcare-related data are stored and managed in a safe and legal manner under the heading of "healthcare data storage." Maintaining the confidentiality, security, and accessibility of patient records and medical information depends on effective healthcare data storage. Electronic prescriptions, medication histories, and databases of drug interactions are among the other types of healthcare data that may be stored. In order for various systems to connect with one another and share patient data, data interoperability is essential in the storage of healthcare data

According to the report of Zivaro, an IT service management company, published in June 2022, the growth of Healthcare Data Storage interoperability is the main force behind innovation in cloud computing. Numerous healthcare organizations around the United States produce enormous amounts of Healthcare Data.

Market Dynamics:

Driver:

Rapid digitization of healthcare records

The market for healthcare data storage is being significantly stimulated by the quick digitalization of medical information. The switch from paper-based to electronic health records (EHRs) has a number of ramifications and large volumes of digital data, including as patient histories, clinical notes, test results, prescriptions, and more, are produced as a result of the switch to electronic records. Data storage systems that can manage these enormous datasets are necessary since the volume of healthcare data is growing constantly. Healthcare firms may concentrate patient data in one easily accessible area acknowledgments to digitization. This centralized strategy simplifies data administration and makes it simpler to retrieve patient records, ultimately leading to an improvement in patient care.

Restraint:

Cost limitations

Healthcare providers and the industry as a whole may suffer from a number of drawbacks as a result of cost restrictions in the market for healthcare data storage. These limitations may restrict the use of cutting-edge data storage systems and reduce the efficacy of healthcare data management. Budget restrictions may lead healthcare companies to choose less expensive but less substantial storage options. Due to a lack of storage space, businesses may be forced to reduce data retention or performance, which might have an impact on medical care and scientific research. Healthcare providers could settle for inferior or antiquated storage systems in an effort to reduce expenses thereby hampering the growth of the market.

Opportunity:

Growing volume of health data with advancements in Medical Imaging

Data storage is affected in a number of ways by the healthcare sector's reliance on medical imaging and the growing amount of data these technologies produce. Large data files are generated by medical imaging technologies as MRI (Magnetic Resonance Imaging), CT (Computed Tomography) scans, and digital radiography. Healthcare data storage systems must effectively manage this expanding data volume. To track a patient's progress or the development of a condition, it is standard practice in healthcare to compare medical photographs across time. These longitudinal pictures must be stored in a safe, scalable, and effective manner which is effectively contained by the healthcare data storage systems further encourage the market towards growth.

Threat:

Data security risks

In the healthcare industry, protecting patient data is crucial, and security breaches can have major repercussions. Sensitive health information about patients may be exposed and subject to unauthorized access as a result of data security breaches. Patients who see such transgressions may experience mental suffering and lose faith in healthcare institutions. Data loss or corruption is a security issue that may have an influence on how patients are treated and cared for and might jeopardize the accuracy of medical records thus impeding the market.

Covid-19 Impact

The market for healthcare data storage was significantly impacted by the COVID-19 epidemic. The pandemic exposed healthcare data management and storage's weaknesses as well as its potential. Data security and patient privacy have become more of a worry as telehealth and remote patient monitoring have grown. To safeguard sensitive patient data, healthcare data storage systems needs to be reinforced with stronger security measures. Data on vaccine delivery, distribution, and patient immunization records became crucial as vaccination efforts spread around the globe. Solutions for storing healthcare data were crucial to manage this data.

The magnetic storage segment is expected to be the largest during the forecast period

The magnetic storage segment is estimated to have a lucrative growth, as it has been used for a long time to handle and store many kinds of patient and medical data. Hard disk drives (HDDs) and magnetic tape are two examples of magnetic storage media that are renowned for their capacity, robustness, and affordability. X-rays, CT scans, MRIs, and ultrasounds are all examples of medical pictures that are frequently stored on magnetic storage. Magnetic storage systems are frequently used by Picture Archiving and Communication Systems (PACS) to store and handle these massive, high-resolution image files. The essential capacity for these data-intensive applications is provided by magnetic storage.

The electronic health records (EHRs) segment is expected to have the highest CAGR during the forecast period

The electronic health records (EHRs) segment is anticipated to witness the highest CAGR growth during the forecast period, because EHRs are digital renditions of patients' paper files and medical histories that provide in-depth data on their condition and care. To offer high-quality treatment, enhance patient outcomes, and effectively manage patient data, healthcare practitioners need these records. EHRs work best when patient data can be readily shared and exchanged. Interoperability is made possible by data storage solutions, which allow various healthcare providers and systems to safely access and exchange patient records. In order to handle the rising amount of patient data and the expanding adoption of EHRs, the storage infrastructure must be scalable. Hence all the above factors enhance the market growth.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the Investments in secure data storage and management systems were sparked by regulatory frameworks such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and comparable privacy regulations in Canada. An assortment of well-known technology firms and specialist healthcare IT suppliers were present in the North American healthcare data storage industry. These businesses provided a variety of data storage options, such as private and public on-premises systems which boosts the market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the demand for safe and compliant data storage solutions, the rising volume of healthcare data, and the increasing usage of electronic health records (EHRs) all contributed to the dynamic and expanding European healthcare data storage industry. Nevertheless, that the landscape of healthcare technology is subject to quick change, making it crucial to confirm the most recent statistics and trends from reputable sources. Market development was significantly influenced by compliance with healthcare and data protection requirements, including the General Data Protection Regulation (GDPR) are driving the market.

Key players in the market

Some of the key players profiled in the Healthcare Data Storage Market include IBM Corporation, Pure Storage, Dell Technologies, Tintri, Fujitsu Limited, Huawei Technologies Co., Ltd., Toshiba Corporation, Hitachi, Drobo, Cloudian, Samsung Electronics Co., Ltd, NetApp, Western Digital., Samsung, Carestream Corporation, Nuance Communications, Inc and Hewlett Packard Enterprise

Key Developments:

In October 2023, Pure Storage® the IT pioneer that delivers the world’s most advanced data storage technology and services, announced critical new data resilience offerings, including the introduction of Pure Protect™//DRaaS.

In October 2023, Fujitsu announced a new technology for automated generation of AI solutions, offering users the possibility to customize AI innovation components (1) offered via the “Fujitsu Kozuchi - Fujitsu AI Platform.” Fujitsu will start offering the new technology via Fujitsu Kozuchi to users in Japan.

In August 2023, Pure Storage® announced an expanded, multi-year strategic product and go-to-market partnership with Microsoft that brings Pure Storage’s industry leading storage capabilities.

Types Covered:
• Magnetic Storage
• Flash & Solid-State Storage

Data Types Covered:
• Unstructured
• Semi-Structured
• Structured

Deployments Covered:
• Remote
• Hybrid
• On-Premise

Architectures Covered:
• Object Storage
• File Storage
• Block Storage

Storage Systems Covered:
• Direct-Attached Storage
• Network-Attached Storage
• Storage Area Network

Applications Covered:
• Clinical Trials
• Electronic Health Records (EHRs)
• Medical Imaging
• Population Health Management
• Genomics
• Other Applications

End Users Covered:
• Research Centres
• Academic & Government Institutes
• Hospitals
• Pharmaceutical & Biotechnology Companies
• Clinics & Ambulatory Surgical Centers (ASC)
• Diagnostic & Clinical Laboratories
• Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs)
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Healthcare Data Storage Market, By Type
5.1 Introduction
5.2 Magnetic Storage
5.3 Flash & Solid-State Storage

6 Global Healthcare Data Storage Market, By Data Type
6.1 Introduction
6.2 Unstructured
6.3 Semi-Structured
6.4 Structured

7 Global Healthcare Data Storage Market, By Deployment
7.1 Introduction
7.2 Remote
7.3 Hybrid
7.4 On-Premise

8 Global Healthcare Data Storage Market, By Architecture
8.1 Introduction
8.2 Object Storage
8.3 File Storage
8.4 Block Storage

9 Global Healthcare Data Storage Market, By Storage System
9.1 Introduction
9.2 Direct-Attached Storage
9.3 Network-Attached Storage
9.4 Storage Area Network

10 Global Healthcare Data Storage Market, By Application
10.1 Introduction
10.2 Clinical Trials
10.3 Electronic Health Records (EHRs)
10.4 Medical Imaging
10.5 Population Health Management
10.6 Genomics
10.7 Other Applications

11 Global Healthcare Data Storage Market, By End User
11.1 Introduction
11.2 Research Centres
11.3 Academic & Government Institutes
11.4 Hospitals
11.5 Pharmaceutical & Biotechnology Companies
11.6 Clinics & Ambulatory Surgical Centers (ASC)
11.7 Diagnostic & Clinical Laboratories
11.8 Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs)
11.9 Other End Users

12 Global Healthcare Data Storage Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa

13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies

14 Company Profiling
14.1 IBM Corporation
14.2 Pure Storage
14.3 Dell Technologies
14.4 Tintri
14.5 Fujitsu Limited
14.6 Huawei Technologies Co., Ltd.
14.7 Toshiba Corporation
14.8 Hitachi
14.9 Drobo
14.10 Cloudian
14.11 Samsung Electronics Co., Ltd
14.12 NetApp
14.13 Western Digital.
14.14 Samsung
14.15 Carestream Corporation
14.16 Nuance Communications, Inc
14.17 Hewlett Packard Enterprise

List of Tables
1 Global Healthcare Data Storage Market Outlook, By Region (2021-2030) ($MN)
2 Global Healthcare Data Storage Market Outlook, By Type (2021-2030) ($MN)
3 Global Healthcare Data Storage Market Outlook, By Magnetic Storage (2021-2030) ($MN)
4 Global Healthcare Data Storage Market Outlook, By Flash & Solid-State Storage (2021-2030) ($MN)
5 Global Healthcare Data Storage Market Outlook, By Data Type (2021-2030) ($MN)
6 Global Healthcare Data Storage Market Outlook, By Unstructured (2021-2030) ($MN)
7 Global Healthcare Data Storage Market Outlook, By Semi-Structured (2021-2030) ($MN)
8 Global Healthcare Data Storage Market Outlook, By Structured (2021-2030) ($MN)
9 Global Healthcare Data Storage Market Outlook, By Deployment (2021-2030) ($MN)
10 Global Healthcare Data Storage Market Outlook, By Remote (2021-2030) ($MN)
11 Global Healthcare Data Storage Market Outlook, By Hybrid (2021-2030) ($MN)
12 Global Healthcare Data Storage Market Outlook, By On-Premise (2021-2030) ($MN)
13 Global Healthcare Data Storage Market Outlook, By Architecture (2021-2030) ($MN)
14 Global Healthcare Data Storage Market Outlook, By Object Storage (2021-2030) ($MN)
15 Global Healthcare Data Storage Market Outlook, By File Storage (2021-2030) ($MN)
16 Global Healthcare Data Storage Market Outlook, By Block Storage (2021-2030) ($MN)
17 Global Healthcare Data Storage Market Outlook, By Storage System (2021-2030) ($MN)
18 Global Healthcare Data Storage Market Outlook, By Direct-Attached Storage (2021-2030) ($MN)
19 Global Healthcare Data Storage Market Outlook, By Network-Attached Storage (2021-2030) ($MN)
20 Global Healthcare Data Storage Market Outlook, By Storage Area Network (2021-2030) ($MN)
21 Global Healthcare Data Storage Market Outlook, By Application (2021-2030) ($MN)
22 Global Healthcare Data Storage Market Outlook, By Clinical Trials (2021-2030) ($MN)
23 Global Healthcare Data Storage Market Outlook, By Electronic Health Records (EHRs) (2021-2030) ($MN)
24 Global Healthcare Data Storage Market Outlook, By Medical Imaging (2021-2030) ($MN)
25 Global Healthcare Data Storage Market Outlook, By Population Health Management (2021-2030) ($MN)
26 Global Healthcare Data Storage Market Outlook, By Genomics (2021-2030) ($MN)
27 Global Healthcare Data Storage Market Outlook, By Other Applications (2021-2030) ($MN)
28 Global Healthcare Data Storage Market Outlook, By End User (2021-2030) ($MN)
29 Global Healthcare Data Storage Market Outlook, By Research Centres (2021-2030) ($MN)
30 Global Healthcare Data Storage Market Outlook, By Academic & Government Institutes (2021-2030) ($MN)
31 Global Healthcare Data Storage Market Outlook, By Hospitals (2021-2030) ($MN)
32 Global Healthcare Data Storage Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
33 Global Healthcare Data Storage Market Outlook, By Clinics & Ambulatory Surgical Centers (ASC) (2021-2030) ($MN)
34 Global Healthcare Data Storage Market Outlook, By Diagnostic & Clinical Laboratories (2021-2030) ($MN)
35 Global Healthcare Data Storage Market Outlook, By Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs) (2021-2030) ($MN)
36 Global Healthcare Data Storage Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

List of Figures
Figure 1 Global Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 2 North America Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 3 US Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 4 Canada Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 6 Europe Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 7 Germany Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 8 UK Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 9 Italy Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 10 France Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 11 Spain Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 14 Japan Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 15 China Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 16 India Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 17 Australia Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 21 South America Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 24 Chile Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 28 UAE Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Healthcare Data Storage Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Healthcare Data Storage Market Outlook (2021-2030) ($MN)

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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