The healthcare data storage market size at a global level is expected to reach USD 6.20 billion by 2030 from USD 3.0 billion in 2022 with a growing CAGR of 10.5% during the forecast period 2023 - 2030.
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.
MARKET DRIVERS
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.
MARKET RESTRAINTS
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 2022, nearly 41 million patient records were breached as per the Protenus Breach Barometer report of 2022.
| REPORT METRIC | DETAILS |
| Market Size Available | 2022 – 2030 |
| Base Year | 2022 |
| Forecast Period | 2022 – 2030 |
| Regions Covered | North America, Europe, APAC, Middle East & Africa (MEA), Latin America |
Segmentation Analysis
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.
Magnetic Storage
Magnetic Disks
Magnetic Tapes
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 2022.
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 2022, 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).
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