Feb 19, 2018
5 Key Insights on How Lifesciences Enterprise Storage Market will Expand Globally during 2017-2026, by Fact.MR
by Team Fact.MR
Increasing difficulties arising in management and loading of clinical data from lifescience enterprises has propelled the need for adopting effective storage solutions. Leading players in the healthcare-IT industry are introducing effective lifesciences enterprise storage solutions to capture these concerns. Moreover, several lifesciences organizations are adopting cloud-based storage models to share data securely and effectively across multiple landscapes in the healthcare industry. However, growing concerns over the safety of these lifesciences enterprise storage solutions is observed as a key deterrent of their adoption.
According to Fact.MR’s recent forecast study, the global lifesciences enterprise storage market will expand at a moderate pace of 4.2% CAGR in terms of value over the forecast period, 2017-2026. It has been estimated that by the end of 2026, the global lifesciences enterprise storage market will be worth over US$ 2.6 Bn.
Key Forecast Highlights from the Report
- Pharmaceutical companies will be observed as key customer segments in the global lifesciences enterprise storage market. By the end of 2026, more than US$ 1.2 Bn worth of lifesciences enterprise storage solutions will be adopted by the pharmaceutical consumer segment. Governments and biotech companies are also being viewed as key customer segments for lifesciences enterprise storage.
- In 2017, the adoption of storage attached network in the global lifesciences enterprise storage market is expected to bring in more than US$ 830 Mn in revenues. The report also reveals that server attached storages will register fastest value growth at a steady CAGR of 5.4% during the forecast period.
- On-premise deployment of lifesciences enterprise storages will register highest share on global market value throughout the forecast period. However, on-cloud deployment of lifesciences enterprise storage will gain traction through 2026. By the end of the forecast period, more than US$ 1 Bn worth of lifesciences enterprise storages will be deployed with on-cloud model.
- In 2017, North America’s lifesciences enterprise storage market was estimated to be worth over US$ 900 Mn. Robust infrastructure in the lifesciences sector across the US and Canada will continue to drive the growth of North America’s lifesciences enterprise storage market throughout the forecast period. By the end of 2026, North America will represent the largest market for lifesciences enterprise storage, accounting for an estimated global market value share of 46.5%.
- Europe and the Asia-Pacific excluding Japan (APEJ) region is also expected to account for high revenue growth in the global lifesciences enterprise storage market. While Europe will account for more than 12% of the global market value growth throughout the forecast period, the APEJ lifesciences enterprise storage market is estimated to expand at the fastest value CAGR of 6.1% during the forecast period.
The report has profiled key stakeholders in the global lifesciences enterprise storage market, which include HPE, NetApp, Dell Inc., IBM, ODM Direct and Hitachi. Majority of the players in the global lifesciences enterprise storage market are expected to introduce innovative storage solutions based on the data management needs of lifescience enterprises. Since the lifesciences enterprise storage landscape is currently at a nascent stage, the competition will remain consolidated through 2026, with aggressive presence of only handful of players.