Market Research Report
Healthcare Data Storage Global Market Report 2022
|Healthcare Data Storage Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Healthcare Data Storage Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global healthcare data storage market.
This report focuses on healthcare data storage market which is experiencing strong growth. The report gives a guide to the healthcare data storage market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the healthcare data storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Healthcare Data Storage market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider healthcare data storage market, and compares it with other markets.
Major players in the healthcare data storage market are: Dell, IBM Corporation, NetApp, Hewlett Packard Enterprise Development LP, Pure Storage Inc., Hitachi Ltd., Western Digital Corporation, Huawei Technologies Co. Ltd, Toshiba Corporation, Scality, Fujitsu, Drobo, Cloudian, Samsung, and Tintri.
The global healthcare data storage market is expected to grow from $4.17 billion in 2021 to $4.92 billion in 2022 at a compound annual growth rate (CAGR) of 18.0%. The healthcare data storage market is expected to grow to $9.23 billion in 2026 at a compound annual growth rate (CAGR) of 17.0%.
The healthcare data storage market consists of sales of healthcare data storage solutions by entities (organizations, sole traders, and partnerships) that provide data storage solutions and applications to store medical records. The use of a recording medium to retain data via computers or other devices is referred to as data storage. The most common types of data storage are file storage, block storage, and object storage, each of which is suitable for a specific purpose. The data storage is used by the healthcare sector for patient records, electronic medical records (EMR), and their backups, radiological images, insurance claims, and office documents. The data storage solutions are also used by healthcare companies to store data about manufacturing products and their processes.
The main types of healthcare data storage are magnetic storage, flash storage, and solid-state storage. In magnetic storage, data is stored in the form of tiny magnetized dots. Magnetic fields created by very small electromagnets are used to create, read, and erase these dots. The various data architectures involved are block storage, file storage, and object storage that are deployed on-premise solutions, remote solutions, and hybrid solution modes. The storage services are used by pharmaceutical companies, hospitals, and other end users.
North America was the largest region in the healthcare data storage market in 2021. The regions covered in healthcare data storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in the volume of digital data storage in healthcare organizations is expected to drive the growth of the healthcare data storage market going forward. Advances in big data analytics tools and medical imaging, as well as the increasing availability of real-time data to aid clinical decision-making, have all contributed to this rapid increase in healthcare data volume. The collection and storage of healthcare data from a variety of sources encourage efficient communication between doctors and patients, improves overall patient care quality, and provides deeper insights into specific conditions. For instance, according to RBC Capital Markets, a Canada-based investment bank, in 2020, the healthcare industry generated about 30% of the world's total data volume. In addition, data for healthcare is expected to grow at a compound annual growth rate of 36% by 2025. Thus, the increasing volume of digital data storage in healthcare organizations will support the growth of the market.
Strategic collaborations between healthcare and IT companies have emerged as a key trend gaining popularity in the healthcare data storage market. Major companies operating in the healthcare sector are focusing to collaborate with IT companies to strengthen the data storage operations of the healthcare sector. For instance, in August 2021, Baxter International Inc., a US-based healthcare company announced a collaboration with Amazon Web Services to support new digital health and data management projects. Baxter will use Amazon Web Services' cloud-based data storage and analytics tools to develop new digital health tools, gain more performance insights for internal and external purposes, and enhance its overall online experience. In addition, in August 2021, GE Healthcare, a US-based digital health provider announced a strategic partnership with Amazon Web Services (AWS) to provide hospitals and healthcare providers with AI and integrated data, operational insights, clinical, cloud-based imaging solutions. GE Healthcare intends to make its AI-based imaging applications and Edison Health Services platform available on AWS, positioning the company to lead the way in assisting healthcare providers around the world in transitioning from a centralized, hospital-based care delivery model to a more decentralized, virtual, and distributed model.
In March 2021, Hitachi Ltd., a Japan-based social innovation business acquired GlobalLogic Inc. for $9.6 billion. Through this acquisition, Hitachi Group will be better able to carry out its objective of promoting Social Innovation Business using digital technology to address difficulties that consumers and society confront. Furthermore, Hitachi Group will be able to expedite the digital transformation of social infrastructure on a worldwide scale by growing its core Lumada digital solutions business. Global Logic Inc., is a US-based company that offers AI/ML-based healthcare case management software solutions.
The countries covered in the Healthcare Data Storage market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.