The Healthcare Data Storage Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare Data Storage Global Market Report 2024, The healthcare data storage market size has grown rapidly in recent years. It will grow from $5.51 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to increasing healthcare data volume, regulatory compliance, data backups and disaster recovery, increased research and clinical trials, interoperability and health information exchange (hie).
The healthcare data storage market size is expected to see rapid growth in the next few years. It will grow to $12.03 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to big data and analytics, genomics and precision medicine, artificial intelligence (ai) and machine learning, cybersecurity and data protection, increasing 5g connectivity. Major trends in the forecast period include electronic health records (ehr) expansion, cloud-based healthcare storage, data security and compliance, healthcare iot data, edge computing for healthcare data.
An increase in the volume of digital data storage in healthcare organisations is expected to drive the growth of the healthcare data storage market going forward. Advances in big data analytics tools and medical imaging, as well as the increasing availability of real-time data to aid clinical decision-making, have all contributed to this rapid increase in healthcare data volume. The collection and storage of healthcare data from a variety of sources encourage efficient communication between doctors and patients, improves overall patient care quality, and provides deeper insights into specific conditions. For instance, according to RBC Capital Markets, a Canada-based investment bank, the healthcare industry generated about 30% of the world’s total data volume. In addition, data for healthcare is expected to grow at a compound annual growth rate of 36% by 2025. Thus, the increasing volume of digital data storage in healthcare organisations will support the growth of the market.
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The healthcare data storage market covered in this report is segmented –
1) By Type: Magnetic Storage, Flash Storage, Solid- State Storage
2) By Architecture: Block Storage, File Storage, Object Storage
3) By Deployment: On-Premise Solutions, Remote Solutions, Hybrid Solutions
4) By End User: Pharmaceutical, Hospitals, Other End-Users
Strategic collaborations between healthcare and IT companies have emerged as a key trend gaining popularity in the healthcare data storage market. Major companies operating in the healthcare sector are focusing on collaborating with IT companies to strengthen the data storage operations of the healthcare sector. For instance, in August 2021, Baxter International Inc., a US-based healthcare company, announced a collaboration with Amazon Web Services to support new digital health and data management projects. Baxter will use Amazon Web Services’ cloud-based data storage and analytics tools to develop new digital health tools, gain more performance insights for internal and external purposes, and enhance its overall online experience. In addition, in August 2021, GE Healthcare, a US-based digital health provider, announced a strategic partnership with Amazon Web Services (AWS) to provide hospitals and healthcare providers with AI and integrated data, operational insights, and clinical, cloud-based imaging solutions. GE Healthcare intends to make its AI-based imaging applications and Edison Health Services platform available on AWS, positioning the company to lead the way in assisting healthcare providers around the world in transitioning from a centralised, hospital-based care delivery model to a more decentralised, virtual, and distributed model.
Top Major Players
Dell Technologies,
International Business Machines Corporation,
NetApp Inc.,
Hewlett Packard Enterprise Development LP,
Pure Storage Inc
The healthcare data storage market report table of contents includes:
1. Executive Summary
- Healthcare Data Storage Market Characteristics
- Healthcare Data Storage Market Trends And Strategies
- Healthcare Data Storage Market – Macro Economic Scenario
- Global Healthcare Data Storage Market Size and Growth
- Healthcare Data Storage Market Segmentation
- Healthcare Data Storage Market Regional And Country Analysis
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- Global Healthcare Data Storage Market Competitive Benchmarking
- Global Healthcare Data Storage Market Competitive Dashboard
- Key Mergers And Acquisitions In The Healthcare Data Storage Market
- Healthcare Data Storage Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Healthcare Data Storage Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Healthcare Data Storage Market, Segmentation By Architecture, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Healthcare Data Storage Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Dell Technologies Financial Performance
Table 76: International Business Machines Corporation Financial Performance
Table 77: NetApp Inc. Financial Performance
Table 78: Hewlett Packard Enterprise Development LP Financial Performance
Table 79: Pure Storage Inc. Financial Performance
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