Healthcare organizations are investing heavily in data storage to secure and keep a huge amount of data and expected to reach $8.11 billion come 2026.
As the world shifts to digital platforms, sectors like healthcare invests heavily in data storage. ResearchAndMarkets said the healthcare sector will continually grow as the demand for security requirements and cost-effective storage increases.
More healthcare organizations will start building advanced IT infrastructures to make storage flexible and scalable. Hospitals, clinics, and lifestyle centers can effectively manage their data generated from different branches and access without a problem.
The challenges faced by these health-related institutes can be relieved with new cloud storage offers, innovative solutions, and data infrastructure. Doctors, nurses, aestheticians, and healthcare professionals in general, can manage and utilize data to improve patient care.
ResearchAndMarkets’ report stated a CAGR of 16.4 percent between the periods 2019 to 2026. This massive increase can be attributed to many factors including the rising digital data generated in healthcare facilities.
The deployment of cloud storage solutions also adds up to the massive data volume, in addition to the increased use of electronic medical records (EMR). As many hospitals and healthcare facilities switch to hybrid data storage, the market will eventually cope, and sales are likely to increase.
There’s also a factor of computerized provider order entries (CPOE), which is expected to grow further as the world transitions digitally. Information, media, and other documents are stored online for easy access to patients’ medical records, payment, and insurance.
The most utilized data storage solution at the moment is the on-premise software or on-prem, which is installed on computers of the companies. Rather than creating a storage facility or server farm, data is controlled by the organization itself or a third-party.
Cloud storage is different as storage is housed offsite and a third-party manages, maintains, and monitors the flow of information. An on-premise solution is suited for multi-vendor architecture and minimizes the data breach attacks.
With healthcare institutions managing and maintaining their data, they can easily create a backup plan or recovery system in case of a glitch.
Top storage vendors include IBM Corporation, Cloudian, DataCore Software, DataDirect Networks, Scality, Nfina Technologies, Inc., Huawei, and Pure Storage, Inc.
In addition to cloud and on-premise solutions, the report also touched on the increasing demands for magnetic storage, flash, and solid-state storage.