The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s healthcare data storage market report forecasts the healthcare data storage market size to grow to $10.52 Billion by 2027, with a CAGR (compound annual growth rate) of more than 16%.

Learn More On The Healthcare Data Storage Market Report 2023 – https://www.thebusinessresearchcompany.com/report/healthcare-data-storage-global-market-report

Healthcare Data Storage Market Size Forecast
The global healthcare data storage market is expected to grow from $4.88 billion in 2022 to $5.7 billion in 2023 at a compound annual growth rate (CAGR) of 16.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare data storage market size is expected to grow to $10.52 billion in 2027 at a CAGR of 16.6%.

North America held the largest healthcare data storage market share.

Key Healthcare Data Storage Market Driver ­– Increase In The Volume Of Digital Data Storage In Healthcare Organisations
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 organisations will support the growth of the market.

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Key Healthcare Data Storage Market Trend – Strategic Collaborations Between Healthcare And IT Companies
Major companies operating in the healthcare sector are focusing on collaborating 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, and 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 centralised, hospital-based care delivery model to a more decentralised, virtual, and distributed model.

Healthcare Data Storage Market Segment
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

Healthcare Data Storage Market Major Players and Strategies
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.

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 worldwide 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 Healthcare Data Storage Global Market Report 2023 covers regional data on healthcare data storage market size, healthcare data storage market trends and drivers, opportunities, strategies, and healthcare data storage market competitor analysis. The countries covered in the healthcare data storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa

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.

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