""Healthcare Data Storage Market is valued at USD 2.93 Billion in 2019 and expected to reach USD 8.007 Billion by 2025 with the CAGR of 15.43% over the forecast period.""
Global Healthcare Data Storage Market: Global Size, Trends, Competitive, Historical &Forecast Analysis, 2020-2025– Increasing need of managing and storing the large amount of data generated from healthcare system on daily basis is driving the market of Global Healthcare Data Storage Market.
Healthcare organizations are trying to build their IT infrastructure with more flexibility and scalability to meet the increasing data demand. Value based incentives for data analytics and increasing number of connected medical devices which are constantly collecting data, the organizations are in the need of optimum data storage capabilities that is both HIPAA (Health Insurance Portability and Accountability Act)-compliant and easy for authorized users to access. They are opting for either on premise option because of control IT administrators over physical datacenters or they are implementing cloud storage into their IT infrastructure because of decreased maintenance cost and HIPPA compliance.
Global healthcare data storage market report is segmented on the basis of architecture, deployment, types, storage systems, end-user and by regional & country level. Based on architecture, global healthcare data storage market is classified as block storage, file storage and object storage. Based on deployment the market is divided into on premise, remote and hybrid. Based on types the market is divided into magnetic storage and flash & solid-state storage. Based on storage systems, global healthcare data storage market is classified as network-attached storage, storage area network and direct-attached storage. Based on end user, global healthcare data storage market is classified as pharma, biotech, CRO, hospital, clinic and research center.
The regions covered in this healthcare data storage market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of healthcare data storage is sub-divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global healthcare data storage market are,
Global Healthcare Data Storage Market Dynamics–
In the age of information technology, the healthcare industry has to deal with large amount of data from every end-case sheets from out-patient departments, surgery reports from intensive care units, scan results from diagnostic devices such as CT scanners, MRIs, X-ray machines. To manage such a large amount of data, the hospitals need an effective data storage system for efficient database management and seek help from data storage expert companies driving the growth of healthcare data storage market. Different types of data storage options are available and they are implemented according to the facility of healthcare center and according to the data generated. For instance; about 67% of large hospitals with over 500 beds use storage area network (SAN) for their data storage in which images and data can go directly from storage to workstations on pipe line separately, freeing up main server. The demand of SAN is growing due to the increased requirement of sharing of diagnostic data for its special characteristic of enabling PACS (Picture Archiving and Communication systems). Additionally, statistics states that about 62% of mid and low level hospitals use external storage media such as tapes, disks etc. as data storage to store patient records, EMR, radiological images etc.
Hospitals with many branches in different locations need to send and receive data frequently and for that purpose around 45% of this type of hospitals use Network-Attached Storage System (NAS) which integrates many servers. At least 26% of hospitals are using outsourced solutions through vendors to reduce IT expenditure, which is another major growth factor for this market. At present, cloud storage system is also being used by many healthcare facilities as cloud environment provides ideal condition for healthcare information management due to its advantage of providing storage, security and privacy which provides more opportunity for the healthcare data storage market to expand in future. However, rising cyber-attacks, healthcare fraud, and data security concerns may hamper the market growth up to some extent.
Global Healthcare Data Storage Market Regional Analysis–
North America is expected to dominate the healthcare data storage market due to increasing volume of unstructured healthcare data, use of innovative solutions by clinics and hospitals, availability of cost efficient storage infrastructure and early adoption of storage device systems in this region. In USA, along with prevalence of online resources such as WebMD that have 212 million monthly visitors, the growing use of wearable devices and at-home genetic testing services are making the cloud storage facility more impertinent as it gathers lots of data on health of common people which is also supplementing the market growth in this region.
Europe is second dominating market of healthcare data storage due to presence of huge patient population of chronic diseases such as arthritis, diabetes & cancer, and presence of major healthcare companies of medical devices in this region. For instance; there were about 3.9 million new cases of cancer and 1.9 million deaths from cancer in Europe in 2018. As per the European Union, up to date cancer statistics are key to cancer planning as Europe contains 9% of the world population but has global cancer burden of 25%. For the reason of up to date data, the region has high demand on healthcare data storage systems as it also helps in research & development activities. In Asia-Pacific region, the healthcare data storage market is predicted to have highest growth rate due to rapid technological development and presence of several developing countries such as China, India and Indonesia.
Key Benefits for Global Healthcare Data Storage Market Report–
Global Healthcare Data Storage Market report covers in depth historical and forecast analysis.
Global Healthcare Data Storage Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Healthcare Data Storage Market report helps to identify opportunities in market place.
Global Healthcare Data Storage Market report covers extensive analysis of emerging trends and competitive landscape.
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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