Health Data Archiving Market Evaluation of Trends, Demand, Growth Rate, and Opportunities through 2028

Health Data Archiving Market Size Worth USD 9.28 Billion in 2028

by James Gunther
Health Data Archiving Market

The Health Data Archiving Market Analysis includes information on market size, market share, revenue growth, and CAGR from 2021 to 2028. The study includes a thorough SWOT analysis, a Porter’s Five Forces analysis, and a feasibility analysis to provide readers with a competitive edge. Important details on the top companies in the market are also included. The report’s key topics are the current pandemic’s recent trends, significant challenges, prospects, and limitations.

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.

Surge in global population and increasing geriatric population are creating urgent need for more technologically advanced and efficient healthcare services and solutions, which in turn, is resulting in rapid generation of large data volumes related to patients and 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.

Healthcare organizations generate terabytes of data annually in the form of lab results, patient records, and medical images, among others. The increasing adoption of the Internet of Things (IoT) in hospitals and the steady trend of healthcare wearables are further propelling the growth of the market. The increasing application of electronic medical records (EMR), acceptance of hybrid data storage solutions, and computerized provider order entries (CPOE) are expected to continue to drive revenue growth in the market going forward.

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Global Health Data Archiving Market Highlights:

  • Regional demand estimation and forecast
  • Product Mix Matrix
  • R&D Analysis
  • Cost-Benefit Analysis
  • Pre-commodity pricing volatility
  • Supply chain optimization analysis
  • Technological updates analysis
  • Raw Material Sourcing Strategy
  • Competitive Analysis
  • Mergers & Acquisitions
  • Location Quotients Analysis
  • Carbon Footprint Analysis
  • Patent Analysis
  • Vendor Management

Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Health Data Archiving market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Health Data Archiving market and pinpoint the fundamental growth trends.

Key Companies Profiled 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

Key Parameters Analyzed in This Section:

  • Company Profiles
  • Gross Revenue
  • Profit margins
  • Product sales trends
  • Product pricing
  • Industry Analysis
  • Sales & distribution channels

Regional Segmentation:

  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • Asia Pacific

Key Points Covered in This Section:

  • Regional contribution
  • Estimated revenue generation
  • Vital data and information about the consumption rate in all the leading regional segments
  • An expected rise in market share
  • Forecast growth in the overall consumption rate

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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.

Market Overview:

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
      1. Magnetic Discs
      2. 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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Additional information offered by the report:

  • Along with a complete overview of the global Cobots market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
  • The report elaborates on the global Cobots 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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