Press release
Healthcare Data Storage Market Poised to Hit $14.5 Billion by 2029 with Accelerating Growth Trends
Healthcare Data Storage Market
Healthcare Data Storage Market Size Growth Forecast: What to Expect by 2025?
The dimensions of the healthcare data storage sector have expanded quickly through the recent past, projected to escalate from a valuation of $6.21 billion in 2024 to reach $7.08 billion by 2025, reflecting a compound annual growth rate of 14.0%; this expansion during the retrospective period was fundamentally propelled by the rising quantities of medical information, the necessity for adhering to various regulations, the demand for robust data protection and recovery solutions, a surge in scientific investigations and patient studies, and advancements in system connectivity and the exchange of health intelligence.
How Will the Healthcare Data Storage Market Size Evolve and Grow by 2029?
Anticipation suggests the healthcare data storage sector will experience swift expansion in the approaching years, reaching a valuation of $14.5 billion by 2029, propelled by a compound annual growth rate (CAGR) of 19.6%. This significant uptick during the forecast horizon is fundamentally driven by escalating needs in areas such as big data utilization and advanced analytics, the burgeoning fields of genomics and personalized medicine, the integration of artificial intelligence (AI) and machine learning technologies, heightened concerns over cybersecurity and data safeguarding, and the increasing prevalence of 5G network infrastructure. Key developments poised to shape this market throughout the forecast duration encompass the wider adoption of electronic health records (EHRs), a shift toward cloud-based solutions for healthcare data retention, stringent requirements for data security and regulatory adherence, the deluge of data originating from healthcare IoT devices, and the growing implementation of edge computing strategies for immediate healthcare data processing.
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What Drivers Are Propelling the Growth of Healthcare Data Storage Market Forward?
The escalating volume of digital information requiring storage within healthcare facilities is projected to fuel the expansion of the healthcare data storage market moving ahead. This rapid surge in the sheer amount of healthcare data stems from multiple factors, including developments in big data analytics instrumentation and sophisticated medical imaging technologies, coupled with the greater accessibility of live data streams essential for informing clinical judgments. Gathering and retaining medical records from diverse origins fosters improved interactions between clinicians and those under their care, enhances the standard of patient treatment generally, and facilitates more profound understandings related to particular ailments. As an illustration, RBC Capital Markets, an investment firm headquartered in Canada, has reported that the healthcare sector accounted for approximately 30% of the world's overall data volume. Furthermore, projections indicate that healthcare-related data will expand at a compound annual growth rate of 36% up to the year 2025, underscoring how the growing amount of digital information storage needs in healthcare bodies will bolster market development.
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Which Emerging Trends Are Transforming the Healthcare Data Storage Market in 2025?
Leading entities within the healthcare data storage sector are deploying cutting-edge innovations, notably artificial intelligence (AI)-driven data administration systems, which serve to boost both the effectiveness and precision of managing information while simultaneously reinforcing the security and ease of access for medical organizations. Such an AI-powered data management solution represents an elaborate framework that utilizes artificial intelligence capabilities to streamline, refine, and maximize the entire lifecycle of acquiring, safeguarding, structuring, and interpreting datasets. A concrete illustration is Informatica, a firm specializing in cloud data governance based in the United States, which released its Intelligent Data Management Cloud (IDMC) targeted at Healthcare & Life Sciences in May 2022; this specific offering introduces novel functionalities built natively for the cloud, intended to accelerate the development of inherently digital interactions supporting cohesive patient treatment models. The IDMC tailored for Healthcare & Life Sciences operates as a versatile, AI-enhanced data stewardship platform, entirely independent of a single cloud provider, possessing the capacity to incorporate, oversee, and maintain governance over data distributed across varied, interconnected cloud infrastructures.
What Are the Key Segments in the Healthcare Data Storage Market?
The healthcare data storagemarket 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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Who Are the Key Players Shaping the Healthcare Data Storage Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in 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.
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