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How has the healthcare data storage market grown in recent years?

The rapid expansion of the healthcare data storage market has been notable in recent years. The market, valued at $6.21 billion in 2024, is projected to rise to $7.08 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.0%. This significant growth during the historic period is linked to factors such as a surge in healthcare data volume, regulatory compliance requirements, the necessity for data backups and disaster recovery, an uptick in research and clinical trials, as well as interoperability and health information exchange (hie).

How is the healthcare data storage market size expected to evolve during the forecast period?

The forecast suggests a swift expansion in the healthcare data storage market size in the coming years, reaching $14.64 billion by 2029 with a CAGR of 19.9%. This surge during the projected period can be tied to factors such as the use of big data and analytics, the rise of genomics and precision medicine, advances in AI and machine learning, increased attention to cybersecurity and data protection, and the escalation of 5G connectivity. Key trends for the forecasted period encompass the expansion of electronic health records (EHR), migration towards cloud-based healthcare storage, emphasis on data security and compliance, healthcare IoT data, and the adoption of edge computing for healthcare data.

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Which key drivers are propelling the healthcare data storage market’s growth?

The surges in digital data storage capacities within healthcare institutions are anticipated to fuel the expansion of the healthcare data storage market. The rapid progress in big data analytics tools and medical imaging, coupled with the growing accessibility of real-time data for clinical decision-making, have collectively led to a remarkable expansion in the volume of healthcare data. The gathering and harbouring of healthcare data from several sources enhance streamlined communication between doctors and patients, augment the overall quality of patient care, and offer profound understanding regarding certain conditions. For example, RBC Capital Markets, a Canadian investment bank, reported that the healthcare sector generated nearly 30% of the global data volume. Moreover, the data for healthcare is projected to increase at a compound annual growth rate of 36% by 2025. Therefore, this surge in the volume of digital data storage within healthcare institutions will back the expansion of the market.

What are the market segments in the healthcare data storage industry?

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 leading companies are shaping the growth of the healthcare data storage market?

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 key trends are currently impacting the healthcare data storage market’s development?

Major players in the healthcare data storage market are leveraging cutting-edge technologies like artificial intelligence (AI) to enhance data management platforms. These platforms significantly improve the precision and efficiency of data handling, while also escalating security and accessibility for healthcare providers. An AI-driven data management platform utilizes AI technologies to automate and optimize the procedures of data collection, storage, organization, and analysis. For example, In May 2022, Informatica, an American cloud data management company, debuted the Intelligent Data Management Cloud (IDMC) for Healthcare & Life Sciences. This platform introduces innovative cloud-first, cloud-native features intending to aid the production of digital-first experiences for seamless patient care. The IDMC for Healthcare & Life Sciences is a cloud-neutral, AI-enabled data management platform adept in ingesting, managing, and ruling data in a hybrid, multi-cloud setting.

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Which geographic areas are influencing the growth of 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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