The Emergen Research Global Health Data Archiving Market research study is a thorough compilation of analytical data regarding the Health Data Archiving sector. The study contains a segmentation of the Health Data Archiving market as well as a thorough analysis of the market's size in terms of volume and value. The analysis includes a comprehensive prognosis for the years 2021–2028 in addition to the existing Health Data Archiving market status. The Health Data Archiving Market Study carefully examines the historical, present, and projected revenue for each industry vertical, sector, end-use industry, application, and region.
The global health data archiving market size is expected to reach USD 9.28 billion in 2028 and register a steady revenue CAGR of 14.1% between 2021 and 2028, according to the latest analysis by Emergen Research. The increasing volume of digital data and rapid deployment of cloud-based storage are among some of the key factors driving global health data archiving market revenue growth, and the trend is expected to continue over the forecast period.
The surge in global population and increasing geriatric population are creating an urgent need for more technologically advanced and efficient healthcare services and solutions, which in turn is resulting in the rapid generation of large data volumes related to patients, diagnosis, etc. Healthcare data archives are designed to reduce on-premise footprint, resolve security issues, and decrease support costs, all while preserving significant data for reporting and compliance purposes.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
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
Target Audience of the Global Health Data Archiving Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Health Data Archiving Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Health Data Archiving market on the basis of product, application, and region:
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)
On-Premises
Hybrid
Cloud
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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.
Additional information offered by the report:
Along with a complete overview of the global Health Data Archiving market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Health Data Archiving market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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