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 healthcare data storage 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.
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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 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.
Major players include: Cloudian, Drobo, Dell Technologies, Fujitsu Limited, Hitachi, Ltd., Hewlett Packard Enterprise (HPE), Huawei Technologies Co., Ltd., IBM Corporation, NetApp, Pure Storage, Scality, Samsung Electronics Co., Ltd, Toshiba Corporation, Tintri and Western Digital.
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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.
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