Global Health Data Archiving Market Forecast to 2028

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 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 latest analysis by Emergen Research. 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.

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 section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Health Data Archiving market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

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

Research Report on the Health Data Archiving Market Addresses the Following Key Questions:

Who are the dominant players of the Health Data Archiving market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Health Data Archiving market?
What are the key growth drivers and restraining factors of the Health Data Archiving market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Health Data Archiving market and its key segments?

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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 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
  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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Regional Landscape section of the Health Data Archiving report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

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)

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.

In conclusion, the Health Data Archiving Market report is an exhaustive database that will help readers formulate lucrative strategies. The Health Data Archiving Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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Health Data Archiving Market Future Demand Through 2028