Press release
Healthcare Data Storage Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Healthcare Data Storage Market
The explosion in the amount of digital data stored within the healthcare sector is anticipated to fuel the expansion of the healthcare data storage market. This massive upsurge in data volume has been instigated by the progression in big data analytics tools and medical imaging, in conjunction with the rising access to immediate data to assist clinical decision-making. The procurement and preservation of healthcare data from various sources promote efficient dialogue between doctors and patients, elevates the quality of patient care, and offers profound insights into specific illnesses. For example, RBC Capital Markets, a Canadian investment bank, reported that about 30% of the world's total data volume was generated by the healthcare industry. Moreover, it's expected that the growth of data in healthcare will witness a compound annual growth rate of 36% by 2025. Thus, the escalating volume of digital data storage in healthcare institutions is set to bolster the market expansion.
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What Is the projected market size and growth rate for the healthcare data storage market?
The scale of the healthcare data storage sector has seen quick expansion in the past few years. The market is projected to rise from a value of $6.21 billion in 2024 to about $7.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 14.0%. Factors contributing to the growth observed in the historic period include a surge in healthcare data quantity, regulatory compliance measures, the need for data backups and disaster recovery systems, heightened research and clinical trials, and the need for interoperability and health information exchange (hie).
The market size of healthcare data storage is projected to experience a significant surge in the upcoming years, expected to reach a valuation of $14.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 19.9%. This expected growth during the forecast period can be ascribed to the emergence of big data and analytics, genomics and precision medicine, AI and machine learning, cybersecurity, data protection, and the rise in 5G connectivity. Key trends predicted for the forecast period encompass the amplification of electronic health records (EHR), the adoption of cloud-based storage in healthcare, the importance of data security and compliance, Healthcare IoT data, and edge computing for healthcare data.
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What new trends are reshaping the healthcare data storage market and its opportunities?
Top-tier firms in the healthcare data storage market are adopting cutting-edge technologies such as artificial intelligence (AI)-powered data management platforms. These advancements can not only streamline and enhance the data handling process but also improve data security and accessibility for healthcare providers. An AI-powered data management platform, for example, is a sophisticated system that capitalizes on AI technologies to improve and automate the tasks of data collection, storage, organization, and analysis. In May 2022, for example, Informatica, an American cloud data management firm, unveiled the Intelligent Data Management Cloud (IDMC) for Healthcare & Life Sciences. This platform integrates new cloud-first, cloud-native functionalities engineered to assist in the development of digital-first experiences for interconnected patient care. The IDMC for Healthcare & Life Sciences is a cloud-agnostic, AI-driven data management platform capable of processing, managing, and regulating data in a hybrid, multi-cloud setup.
What major market segments define the scope and growth of the healthcare data storage market?
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
Subsegments:
1) By Magnetic Storage: Hard Disk Drives (HDDs), Tape Storage Systems
2) By Flash Storage: Solid-State Drives (SSDs), USB Flash Drives, Memory Cards
3) By Solid-State Storage: Enterprise SSDs, Consumer SSDs, NVMe (Non-Volatile Memory Express) Storage
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Which region dominates the healthcare data storage market?
North America was the largest region in the healthcare data storage market in 2024. 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.
Which key market leaders are driving the healthcare data storage industry growth?
Major companies operating in the healthcare data storage market include 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, StorPool, Panzura
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What Is Covered In The Healthcare Data Storage Global Market Report?
•Market Size Forecast: Examine the healthcare data storage market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the healthcare data storage market for a structured understanding.
•Key Players Overview: Analyze major players in the healthcare data storage market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the healthcare data storage market.
•Segment Contributions: Evaluate how different segments drive overall growth in the healthcare data storage market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the healthcare data storage market.
•Industry Challenges: Identify potential risks and obstacles affecting the healthcare data storage market.
•Competitive Landscape: Review strategic developments in the healthcare data storage market, including expansions, agreements, and new product launches.
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