Global Health Data Archiving Market Research Report and Forecast to 2028 is an in-depth study of the global Health Data Archiving Market, including market size, market share, current and emerging trends, and the most recent technological developments. The report also provides insight into the global and regional competitive landscape of the Health Data Archiving Market, as well as a detailed forecast to 2028. The impact of the COVID-19 pandemic on the Health Data Archiving Market has been updated in the new report. It examines the pandemic's impact on the economic landscape and government regulations in each region. It also investigates the supply chain disruptions and economic volatility caused by the pandemic and provides a current and prospective outlook.
According to the most recent report by Emergen Research, the size of the worldwide health data archiving market is anticipated to reach USD 9.28 billion in 2028 and exhibit a consistent revenue CAGR of 14.1% between 2021 and 2028. The expansion of the worldwide health data archiving market is being primarily driven by factors such as the rising volume of digital data and the quick adoption of cloud-based storage, and this pattern is anticipated to continue over the course of the forecast period.
An urgent need for more technologically advanced and effective healthcare services and solutions is being created by the growing geriatric and global populations. This is hastening the production of massive amounts of data about patients, diagnoses, and other topics. Healthcare data archives are made to preserve important data for reporting and compliance needs while reducing the on-premise footprint, addressing security concerns, and lowering support costs.
Terabytes of data, including test results, patient information, and medical photographs, are produced annually by healthcare organisations. The market is growing as a result of hospitals adopting the Internet of Things (IoT) more frequently and wearable healthcare devices continuing their steady trend. Future revenue growth of the market is anticipated to be driven by growing adoption of Electronic Medical Records (EMR), acceptance of hybrid data storage solutions, and Computerized Provider Order Entries (CPOE).
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The global Health Data Archiving industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
IBM Corporation, Dell, Pure Storage, NetApp Inc., Hitachi Limited, Huawei Technologies Co., Ltd., Western Digital Corporation, Hewlett Packard Enterprises, Samsung Electronics Co., Ltd., and Fujitsu Limited
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Some Key Highlights from the Report
- In May 2021, National hospital chain HCA Healthcare Inc. and Google signed a deal to develop healthcare algorithms using patient’s data. HCA will consolidate and store with Google digital health records under the agreement. HCA and Google engineers are working together to develop algorithms to enhance efficiency.
- Flash solid-state storage segment accounted for largest revenue share in 2020 due to high speed offered by this technology. It can write data and perform random input/output operation in a flash. Flash solid-state storage are very durable, faster than hard disk, and is energy efficient. It is more practical for smaller businesses as these devices are available in different sizes and do not take up any space.
- Cloud segment revenue is expected to register significant growth during the forecast period as cloud provides more cost-saving benefits, reduces responsibilities of IT staff, and is trending currently. Cloud storage does not require significant capital and healthcare providers can use it with affordable monthly subscription. Cloud-based storage is developed to adjust to company’s needs, and keeps up with requirements of companies that are growing rapidly.
- Pharmaceutical biotechnology companies segment accounted for largest revenue share in 2020 as extensive research is done by these institutions and vast volumes of data are generated. Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) conduct numerous clinical trials and have multiple pipeline projects, from which data need to be stored and managed in case it is needed in future.
- The market in North America accounted for largest revenue share in 2020 due to rapid adoption of advanced technologies and presence of state-of-the-art research facilities. Stringent regulations in the U.S. have made data storage mandatory, which is further contributing to growth of the market. Use of EHR in almost all hospitals is also fueling market growth.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Health Data Archiving market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Health Data Archiving market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Health Data Archiving market.
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The report bifurcates the Health Data Archiving market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Flash Solid-State Storage
- Magnetic Storage
- Magnetic Discs
- Magnetic Tapes
- Storage System Outlook (Revenue, USD Billion; 2018–2028)
- Direct-Attached Storage
- Storage Area Network
- Network-Attached Storage
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Health Data Archiving Market report:
- The latest report comprehensively studies the global Health Data Archiving market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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