Global Healthcare Data Storage Market was valued at USD 3.2 billion in 2020 which is expected to reach USD 7.8 billion at a CAGR 13.8%. As per the study of Qualiket Research healthcare data storage market is expected to gain market growth in the forecast period 2020-2027. An increase in need of managing and storing the large amount of data generated from healthcare system on a daily basis is expected to drive the global healthcare data storage market growth.
Healthcare companies are building their IT infrastructures to be more flexible as well as scalable to meet the growing data demand. Healthcare data storage systems allow healthcare organizations to manage, collect, and analyze data which can be later used for making decisions and improving their operations for efficiency.
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The rise in use of electronic medical records and computerized provider order entries to reduce the time and increase the efficiency is expected to propel the global healthcare data storage market growth. For instance, in 2017, as per the article published by the Centers for Disease Control and Prevention, approximately 86.9% of the office based physicians used EMR (Electronic Medical Record) systems. Furthermore, the rise in burden of healthcare data in clinics, hospitals, diagnostic centers and healthcare manufacturing companies will increase the demand for storage solution. Rise in demand for software to store the clinical data safely for analyzing information in the healthcare environment and efficient quality of treatment is expected to fuel the market growth during this forecast timeline. Also, growing collaboration between healthcare and IT companies to develop innovative cloud based solutions for managing healthcare data which is expected to support the market growth.
On the basis of region global healthcare data storage market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America is the leading revenue contributor due to increase in volume of unstructured healthcare data across and rapid technological advancements have led to an increase in demand for reliable, secure, and cost efficient storage infrastructure in this region. Furthermore, Europe will hold the second- largest market share over the forecast period. Due to the presence of several healthcare companies offering treatment and diagnostic products. Also, Asia Pacific is expected to grow at fastest rate during this forecast period.
Impact of COVID- 19
Increase in COVID-19 pandemic across the globe is expected to fuel the global healthcare data storage market growth. As the healthcare industry is the prime segment for containing the virus that would directly affect the healthcare data storage market in a positive manner.
Global Healthcare Data Storage Market is segmented on the basis of deployment, architecture, type, storage system, end use and region.
By Deployment, the global healthcare data storage market is segmented into On-Premise, Remote, and Hybrid.
By Architecture, the global healthcare data storage market is segmented into Object Storage, File Storage, and Block Storage.
By Type, the global healthcare data storage market is segmented into Magnetic Storage (Magnetic Disks, and Magnetic Tapes), and Flash & Solid State Storage.
By Storage System, the global healthcare data storage market is segmented into Direct-attached Storage, Network-attached Storage, and Storage Area Network.
By End Use, the global healthcare data storage market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals, Academic & Government institutes, Clinical Research Labs, Diagnostic & Clinical Laboratories, and Others.
The major players are covered in global healthcare data storage market report are Dell, IBM Corporation, Huawei, Scality, Western Digital, Toshiba, Hitachi, Pure Storage, Hewlett Packard Enterprise (HPE).
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