The healthcare data storage market size at a global level is expected to reach USD 6.20 billion by 2026 from USD 3.0 billion in 2020 with a growing CAGR of 10.5% during the forecast period 2021-2026.
Healthcare data storage is a software solution used for the storage of data by many hospitals, clinics, and diagnostic centers for recording patient data for future use.
The widespread of novel coronavirus (COVID-19) has positively influenced the healthcare data storage market globally. During the pandemic period, the number of hospitals has increased with the growing use of new technologies like cloud storage, and rising e-hospitals and smart hospitals escalate the market growth. Also, telemedicine is experiencing familiarity and healthcare over the different digital channels producing varied data in form of electronic prescriptions.
Factors driving the global healthcare data storage market are increasing surgeries volume, growing research and development activities in developing creative products, and declined paper use for maintaining patients record that has risen the need for healthcare storage solutions.
The increasing number of digital data produced over the healthcare organizations, swift and simple execution of cloud storage solutions, and rising adoption of hybrid data storage solutions boost the healthcare data storage market globally.
The growing adoption of the Internet of things (IoT), development of social media, and increasing trend of healthcare wearables in people globally provide profitable opportunities propels the healthcare data storage market growth.
Factors like cyber-attacks, data security concerns, and healthcare fraud hamper the healthcare data storage market. The cost of maintaining and installation impedes market growth. In 2019, nearly 41 million patient records were breached as per the Protenus Breach Barometer report of 2020.
Market Size Available
2020 – 2026
2021 – 2026
North America, Europe, APAC, Middle East & Africa (MEA), Latin America
The global healthcare data storage market has been segmented and sub-segmented based on deployment, architecture, type, storage system, and end-user.
By deployment, the on-premise segment dominates the healthcare data storage market due to users having their on-premise storage and manages their deployment, data recovery systems, and backup, and confined storage development model make use of multiple vendor architecture and decrease risks associated with data breach and external attacks.
The object storage architecture segment is leading the healthcare data storage market as object storage serves as the unformed data with easily comparable. Object storage is correctly suitable for the big data needs of organizations in finance, healthcare, etc.
File storage is an old process for storing data using an easy approach and most of the companies require simple to use, centralized, and the better available ways for storing the data. Small businesses demand more for file storage as it is cheap compared to other data storage procedures.
Block storage is a facility where data is stored in single blocks and is highly chosen were valuable and quick transportation of data is needed.
Flash & Solid-state Storage
By type, flash, and solid-storage segment holds the largest share in the healthcare data storage market during the forecast period. The segment growth owes to the high capacity compared to magnetic disks and also the flash and solid-state device prices dropped substantially resulting in growing end-user adoption.
By storage, the storage area network leads the healthcare data storage market. Network of disks connected to several servers through fiber optics.
A single server that shares the storage across the network is network-attached storage.
By end-user, pharmaceutical and biotechnology companies, CROs, and CMOs are attaining the highest share in the healthcare data storage market throughout the timeline period. The pharmaceutical and biotechnology companies do more research on drug discovery fueling the segment growth.
Geographically, North America is dominating the healthcare data storage market with lion's share owing to factors like rising quick and early adoption of data storage solutions, and well-equipped healthcare infrastructure. U.S and Canada are the leading nations in North America. In August 2018, Harmony Healthcare IT specified that an individual patient produced nearly 80megabytes of data every year.
Hospital for Special Surgery of New York accepted Ambra Health's cloud-based medical imaging management solution for storage and exchange of data, in March 2020.
The European healthcare data storage market is the second-leading region owing to the increasing patient population with growing chronic disorders like arthritis, cancer, and diabetes. In 2018, Europe is registered with 3.9 million new cancer cases and 1.9 million cancer deaths.
However, Asia-Pacific is projected to observe important growth in the healthcare data storage market during the above-mentioned period. The region's growth attributes to increasing population, brisk technological developments, and the existence of some countries like India, China, and Japan. The rising elderly people and the existing huge patient pool drive the healthcare data storage market growth.
In Latin America, by the end of 2020, IBM Corporation announced an extension in cloud footprint, planned to launch a new IBM Cloud multizone region (MZR).
The Middle East & African healthcare data storage market is likely to witness noteworthy growth in the foreseen years. The swift expansion of clinical & medical datasets, and advancements in technology upsurge the market growth.
Key Market Players
Some of the prominent players operating in the global healthcare data storage market are Dell (US), IBM Corporation (US), NetApp (US), Hewlett Packard Enterprise Development LP (US), Pure Storage, Inc. (the US), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), Western Digital Corporation (US), Scality (US), Huawei Technologies Co., Ltd. (China), Fujitsu (Japan), Samsung (South Korea), Drobo (US), Tintri (US), and Cloudian (US).
Recent Market Developments
Healthcare Data Storage Market – Forecast (2021-2026)
Chapter 1. Healthcare Data Storage Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Healthcare Data Storage Market - Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$B)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 – 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Healthcare Data Storage Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier – Distributor Analysis
Chapter 4. Healthcare Data Storage Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3. Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Healthcare Data Storage Market Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Healthcare Data Storage Market, By Deployment
Chapter 7. Healthcare Data Storage Market, By Architecture
7.1. Object Storage
7.2. File Storage
7.3. Block Storage
Chapter 8. Healthcare Data Storage Market, By Type
8.1. Magnetic Storage
8.1.1. Magnetic Disks
8.1.2. Magnetic Tapes
8.2. Flash & Solid-state Storage
Chapter 9. Healthcare Data Storage Market, By Storage
9.1. Direct-Attached Storage
9.2. Network-Attached Storage
9.3. Storage Area Network
Chapter 10. Healthcare Data Storage Market, By End-user
9.1. Pharmaceutical & Biotechnology Companies, CROs, and CMOS
9.2. Research Centers, Academic & Government Institutes, and Clinical Research Labs
9.3. Hospitals, Clinics, and ASCs
9.4. Diagnostic & Clinical Laboratories
9.3. Other End Users
Chapter 10. Healthcare Data Storage Market, By Geography - Market Size, Forecast, Trends & Insights
10.1. North America
10.2.7. Rest of Europe
10.3. Asia Pacific
10.3.2. South Korea
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. South America
10.4.2. Middle East
Chapter 11. Healthcare Data Storage Market - Company Profiles – (Overview, Product Portfolio, Financials, Developments)
11.1. Company 1
11.2. Company 2
11.3. Company 3
11.4. Company 4
11.5. Company 5
11.6. Company 6
11.7. Company 7
11.8. Company 8
11.9. Company 9
11.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.