Healthcare Data Storage Market by Deployment Model (On-Premise, Cloud, and Hybrid Storage), Architecture (File Storage, Object Storage, and Block Storage), Type (Flash & Solid-State Storage and Magnetic Storage), and End User (Pharmaceutical & Biotechnology Companies, Hospitals, Academic & Government Institutes, Clinical Research Labs, Diagnostic & Clinical Laboratories, and Others) : Global Opportunity Analysis and Industry Forecast, 2022-2029

Healthcare Data Storage Market Statistics

The healthcare data storage market is expected to witness a tremendous growth in the future, owing to adoption of data storage systems in recent times. Healthcare data storage solutions allow healthcare companies to collect, manage, and analyze data, which can be later used for taking decisions and improving their operations for efficiency. According to several research studies, healthcare data is going to increase at a very fast pace in the future and managing large amount of data is would become very difficult for the healthcare industry. This is expected to create demand for healthcare data storage solutions and in, turn, boost the market growth during the forecast period.

Market scope and structure analysis:

COVID-19 Scenario Analysis: 

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the healthcare data storage market in 2020.
• The healthcare segment is expected to rise during the pandemic as it acts as the prime segment for containing the virus, which would directly affect the healthcare data storage market in a positive manner. Healthcare organizations can analyze data stored on cloud via various techniques such as data analytics and can take more smart decisions.
• People are now more health conscious and are purchasing healthcare wearables and smart devices, which generates more data to store on the cloud and on-premises, thus boosts in the market growth.  
• Furthermore, all big pharmaceutical and research companies are working on corona vaccine, which means large amount of data is being generated. This data needs to be stored, analyzed and secured efficiently, which creates the demand for data storage solutions, in turn, boosting the market growth.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Enormous amount of data generated by the healthcare sector and rise in adoption of hybrid data storage solutions are the major factors that drive the market. In addition, fast and simple deployment of cloud-based storage solutions is expected to supplement growth of the market. However, security and data concerns on cloud hampers the market growth. Furthermore, increase in adoption of internet of things (IoT), emergence of social media, and rise in trend of healthcare app wearables among people across the globe is expected to provide lucrative opportunities for the global healthcare data storage market.

The market trends for healthcare data storage market are as follows:

On-premises deployment model expected to have exponential market growth:

There are three types of deployment models, among which on-premises is the most popular and being adopted widely by the healthcare industry to store and manage data of patients. On-premises data storage solutions minimize the risk of data and cyber-attacks as the data is stored on own data center rather than on cloud. On-premises also do not need wireless connections with no risk of downtime. All these features make on-premise data storage a popular choice as compared to other deployment models. 

North America expected to lead the market: 

North America is expected to witness highest growth, owing to the early adoption of healthcare data storage solutions and best healthcare infrastructure. In addition, Asia-Pacific is also anticipated to witness a significant growth, owing to rise in population and governments investing in healthcare infrastructure.

Key benefits of the report:

• This study presents analytical depiction of the healthcare data storage market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the healthcare data storage market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis based on the present and future competitive intensity of the market.

 Key Market Segments & Key Market Players