Healthcare Data Storage Market Eyes US$ 88.43 Billion by 2030

Healthcare Data Storage Market Snapshot

“The Healthcare Data Storage Market is estimated to increase at a CAGR 13.89% from $ 4.4 Billion in 2023 to $ 7.12 Billion by 2030.”

Definition of healthcare data storage

Healthcare Data Storage is the systematic organization of digital health data, including EHRs and EMRs generated from doctor visits.

Big data examples in health care

EHRs, which contain a patient's medical history, demographics, prescriptions, immunizations, test results, and progress notes, are a common source of big data in healthcare.

Health data management involves the collection, storage, retrieval, transfer, and protection of medical data, enabling healthcare providers to evaluate and transform it into valuable insights. Efficient healthcare data management offers numerous advantages and opportunities for medical professionals and patients.            

Access and exchange of patients' health records is crucial for medical data management, as it ensures timely service and accurate treatment by securely transmitting correct and relevant data between healthcare providers.

Health information exchange (HIE) and data organization can enable the use of advanced technologies like AI, machine learning, and other technologies. These tools can analyze patient data, identify health patterns, and help healthcare providers develop a holistic view of patients' health, potentially leading to preventive actions, from individual health suggestions to global proactive measures.

Health care data includes patient records, demographics, insurance, and administrative information. Interoperability is crucial as it allows for authorized access, sharing, and cooperative use of critical patient information within a healthcare organization or across borders, directly impacting the patient's experience's efficiency, quality, and safety.

>>>Download Sample Report Now:https://marketreportservice.com/request-sample/healthcare-data-storage-market-54680 

Key Benefits

• Better health data management can benefit patients by eliminating the need for repetitive tasks like filling out documents or undergoing medical exams, thereby enhancing their overall well-being.
• Centralised storage enhances patient access to their medical records, promoting transparency, which can boost engagement and enhance record accuracy.
• Healthcare facilities should focus on proper data collection, storage, and management to maximize the benefits of their acquired data. Healthcare providers can master data storage and management by following these guidelines.

Growth Drivers

Healthcare data storage services are primarily used by research centers, pharmaceutical firms, CROs, CMOs, and other institutions. Pharmaceutical companies generate significant amounts of data during R&D efforts, making them a significant market player.

The global healthcare data storage market is expected to gain significant sales opportunities from the pharmaceutical industry in the coming years. On-premise solutions are in high demand among healthcare data storage companies due to various factors driving product adoption.

Healthcare data storage firms are increasingly utilizing on premise solutions due to their flexibility, reduced risks of external attacks and data breaches, and their ability to leverage multi-vendor architecture.          

Healthcare Data Storage Market Segment Analysis

various healthcare data storage options, including on-premise, cloud, and hybrid storage.

Explore the advantages of cloud and on-premise healthcare data storage and determine the most suitable solution.

When choosing a health IT infrastructure, it's crucial to consider the risky option of storing electronic health data. This is a significant technical task for any healthcare organization, and whether data is stored in the cloud or on-premises servers can impact user access and IT department maintenance.

The market is divided into magnetic storage and flash and solid-state storage, with flash and solid-state storage holding the largest market share and predicted to grow rapidly due to their larger capacities and lower cost compared to magnetic discs.

The market is divided into three categories: file storage, object storage, and block storage. Object storage is ideal for large data needs in industries like healthcare and banking. File storage is a simple, centralized, and accessible method for small organizations. Block storage, a classic storage system with a set capacity, is used in discrete blocks and is favored by small organizations due to its lower cost. These categories are essential for organizations in various industries.

The storage system market comprises three types: direct-attached, network-attached, and storage area network. The storage area network is the most significant segment, consisting of discs connected via fiber optics to servers.

Direct-attached storage is ideal for small enterprises to share local data, while a single network-attached server can share its own storage via the network, operating on data files.

Competitive Landscape of the Healthcare Data Storage Market Analysis

• Dell (US)
• IBM Corporation (US)
• NetApp (US)
• Hewlett Packard Enterprise Development LP (US)
• Pure Storage
• Hitachi
• Toshiba Corporation (Japan)
• Western Digital Corporation (US)
• Scality (US)
• Huawei Technologies Co.
• Fujitsu (Japan)
• Samsung (South Korea)
• robo (US)
• Tintri (US)
• Cloudian (US)

New Developments in Healthcare Data Storage Market

Aug 29, 2023- Fujifilm and IBM Develop 50TB Native Tape Storage System, Featuring World's Highest Data Storage Tape Capacity (1)

FUJIFILM Corporation (President and CEO, Representative Director: Teiichi Goto) and IBM announced the development of a 50TB native tape storage system, featuring the world's highest native data tape cartridge capacity1. Fujifilm has commenced production of a high-density tape cartridge for use with IBM's newest enterprise tape drive, the TS1170. The sixth-generation IBM 3592 JF tape cartridge incorporates a newly developed technology featuring fine hybrid magnetic particles to enable higher data storage capacity.

Oct 4, 2022- IBM Redefines Hybrid Cloud Application and Data Storage Adding Red Hat Storage to IBM Offerings

 IBM announced it will add Red Hat storage product roadmaps and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud.        

Regional Analysis of Global Healthcare Data Storage Industry

North America is expected to grow the fastest due to early adoption of healthcare data storage solutions and strong healthcare infrastructure. Hospitals and clinics in this region are adopting new technologies to maintain patient data, fueling the growth of the Healthcare Data Storage Market.

Europe's large healthcare enterprises and the large patient population with diseases like diabetes, cancer, and arthritis generate massive clinical databases, resulting in the emergence of healthcare data storage solutions. The Asia-Pacific region is also expected to grow.

The Asia-Pacific Healthcare Data Storage Market is expected to grow rapidly from 2023 to 2030 due to the rise in osteoarthritis and degenerative disc disease, medical tourism, and rising healthcare costs. China dominates the market, while India's market is the fastest-growing in the region due to its availability of surgeons, advanced technology, and cost-effective treatments, making it a popular destination for medical travelers.      

Segments Covered in the Healthcare Data Storage Market Report

by Solution

• On-prime
• Hybrid
• Cloud-based

By Type

• Magnetic Storage
• Flash & Solid-State Storage

By Architecture

• File Storage
• Object Storage
• Block Storage

Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What are some applications of Healthcare Data Storage?

The cloud-based storage of Electronic Health Records eliminates the need for patients to carry their medical records with them to every doctor visit, allowing doctors to easily view and share information in real-time.

What is the expected growth rate of the Healthcare Data Storage market over the next 7 years?

Healthcare Data Storage Market is estimated to increase at a CAGR 13.89% from $ 4.4 Billion in 2023 to $ 7.12 Billion by 2030.

Who are the major players in the Healthcare Data Storage market and what is their market share?

Dell (US), IBM Corporation (US), NetApp (US), Hewlett Packard Enterprise (US), Pure Storage, Inc. (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)., are prominent players operating and dominating in the market.

Who are the top 3 Healthcare Data Storage Market Key Vendors?

Dell (US), IBM Corporation (US), NetApp (US), Hewlett Packard Enterprise (US), are key players in the Healthcare Data Storage market.

Which geographical areas dominate the worldwide market for Healthcare Data Storage?

North America region are emerging as the top regional markets for Healthcare Data Storage solutions.