Healthcare Data Storage Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The healthcare data storage provides data storage solutions and applications to store medical records. Data storage records are a medium to retain data via computers or other devices. 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 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.

Sizing and Forecast
The healthcare data storage market size has grown rapidly in recent years. It will grow from <b>$5.51 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. </b> The growth in the historic period can be attributed to increasing healthcare data volume, regulatory compliance, data backups and disaster recovery, increased research and clinical trials, interoperability and health information exchange (hie).

The healthcare data storage market size is expected to see rapid growth in the next few years. It will grow to <b>$12.03 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. </b> The growth in the forecast period can be attributed to big data and analytics, genomics and precision medicine, artificial intelligence (ai) and machine learning, cybersecurity and data protection, increasing 5g connectivity. Major trends in the forecast period include electronic health records (ehr) expansion, cloud-based healthcare storage, data security and compliance, healthcare iot data, edge computing for healthcare data.

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Segmentation & Regional Insights
The healthcare data storage market covered in this report is segmented –

1) By Type: Magnetic Storage, Flash Storage, Solid- State Storage
2) By Architecture: Block Storage, File Storage, Object Storage
3) By Deployment: On-Premise Solutions, Remote Solutions, Hybrid Solutions
4) By End User: Pharmaceutical, Hospitals, Other End-Users

<b>North America</b> was the largest region in the healthcare data storage market in 2023. The regions covered in the healthcare data storage market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
An increase in the volume of digital data storage in healthcare organisations 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, 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 organisations will support the growth of the market.

Key Industry Players
Major companies operating in the healthcare data storage market include <b> Dell Technologies, International Business Machines Corporation, NetApp Inc., Hewlett Packard Enterprise Development LP, Pure Storage Inc., Hitachi Ltd., Western Digital Corporation, Huawei Technologies Co. Ltd., Toshiba Corporation, Scality, Fujitsu Limited, Drobo, Cloudian Inc., Samsung, Tintri Inc., Cisco Systems, Nutanix Inc., Commvault Systems, Cohesity, Rubrik, Datrium DRaaS, Veeam Software, Zadara, Caringo, Infinidat, Reduxio Systems, Silk Platform, Nexenta Systems, DataCore Software, Qumulo, SwiftStack, Nvidia Corporation, StorPool, Panzura </b>

The healthcare data storage market report table of contents includes:

1. Executive Summary

2. Healthcare Data Storage Market Characteristics

3. Healthcare Data Storage Market Trends And Strategies

4. Healthcare Data Storage Market – Macro Economic Scenario

5. Global Healthcare Data Storage Market Size and Growth
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31. Global Healthcare Data Storage Market Competitive Benchmarking

32. Global Healthcare Data Storage Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Healthcare Data Storage Market

34. Healthcare Data Storage Market Future Outlook and Potential Analysis

35. Appendix

TOp Major Players:

e Dell Technologies

International Business Machines

NetApp Inc

Hewlett Packard Enterprise Development LP

Pure Storage Inc

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