Life Sciences Enterprise Storage Market

Life Sciences Enterprise Storage Market Outlook (2023-2033)

The global life sciences enterprise storage market is set to surpass a valuation of US$ 2.6 billion in 2023 and further expand at a CAGR of 5.6% to reach US$ 4.5 billion by the end of 2033.

Revenue generation from life sciences enterprise storage accounted for nearly 6% of overall data analytics market in 2022.

Report Attributes	Details
Life Sciences Enterprise Storage Market Size (2022A)	US$ 2,490 Million
Estimated Market Value (2023E)	US$ 2,637.7 Million
Forecasted Market Value (2033F)	US$ 4,548.5 Million
Global Market Growth Rate (2023-2033)	5.6% CAGR
North America Market Share (2023)	~ 34.3%
North America Market Value (US$ Mn), 2023	US$ 903.7 Million
Europe Market Share (%), 2023	~26.1%
Europe Market Value (US$ Mn), 2023	US$ 689.5 Million
China Market Share (%), 2023	~10.5%
China Market Value (US$ Mn), 2023	US$ 275.8 Million
Top 3 country Market Share (%)	~49.1%
Key Companies Profiled	Amazon Web Services BigMIND Home Cloudian DDN Dell Inc. Fujitsu Hitachi HPE Huawei IBM Microsoft Azure NetApp Nutanix Oracle Pure Storage Qumulo Rackspace Red Hat Scality StorCentric, Inc SUSE Violin Systems Western Digital Zoolz

Revenue Analysis of Life Sciences Enterprise Storage Market (2018-2022) Vs. Market Forecast Outlook (2023-2033)

As per the research by Fact.MR, from 2018 to 2022, the market value of life sciences enterprise storage market increased at a rate of 4.1% CAGR, with Germany and China commanding high shares in the global market.

Life sciences enterprise storage refers to the storage solutions designed specifically to meet the needs of the life sciences industry. This includes the storage, management, and analysis of large amounts of data generated by modern biomedical research, such as genomics and imaging, as well as patient data from precision medicine.

Life sciences enterprise storage solutions can be used by a variety of organizations in the life sciences industry, including pharmaceutical companies, medical device manufacturers, research institutions, and healthcare organizations. These solutions are critical for the efficient storage, management, and analysis of the massive amounts of data being generated in the life sciences field, and for compliance with regulatory requirements.

Life sciences enterprise storage solutions are typically designed to handle large amounts of data, provide advanced analytics and machine learning capabilities, comply with regulatory requirements, and protect sensitive data. Fact.MR estimates that the growth of the global life sciences enterprise storage market will be 1.7 times by 2033, creating an absolute dollar opportunity of US$ 2 Bn over the forecast period.

• Short Term (2023 Q1 to 2026): The increasing amount of data being generated by the life sciences industry including data from genomics, imaging, and other research areas to aid the market growth.
• Medium Term (2026-2029): The growing stringent regulatory environment for the life science industry would contribute to the market growth.
• Long Term (2029-2033): The growing use of precision medicine leading to an increase in amount of data being collected will improve long-term growth in the market.

What’s Driving Demand for Life Sciences Enterprise Storage?

The Increasing Amount of Data Generated in Life Sciences to Drive the Market Growth

The increasing amount of data generated in the life sciences field is a result of various factors, including advancements in technology and research techniques, as well as an increase in the number of studies being conducted. This data includes genetic sequencing information, clinical trial results, imaging data, and more. These large and complex datasets require efficient storage and management in order to be analyzed and used for research and development.

The increasing use of electronic health records (EHRs) and other digital tools in healthcare also leads to the generation of large amounts of data. Clinical trials and research studies are another source of data in the life sciences. The amount of data generated by these studies has increased as more complex studies are conducted, and more data is collected from participants. As a result, there is a growing demand for enterprise storage solutions that are specifically designed for the unique needs of the life sciences industry.

The Growing Use of Analytics and Machine Learning in Life Sciences to Elevate Market Growth

As more life science companies are turning to advanced analytics and machine learning techniques to gain insights from their data, the need for high-performance storage solutions that can handle large and complex datasets is becoming more pressing. These techniques often involve processing large amounts of data in real-time, which requires storage systems that can handle high throughput and low latency.

Big data analytics and distributed computing in life sciences require the management and storage of massive datasets across numerous locations, necessitating the use of storage systems created for distributed environments. Additionally, machine learning models require to be constantly trained on new data and retrained on updated data, which requires storage systems that can handle the storage and transfer of large amounts of data quickly, efficiently and securely. As a result, the demand for enterprise storages in life sciences is estimated to witness considerable growth in successive years.

What Concerns Should Life Sciences Enterprise Storage Providers Watch Out for?

Data Security & Privacy Concerns may Pose a Threat to Market Growth

There has been a significant increase in cyber attacks on the life sciences and healthcare sectors, including at the World Health Organization. Pharmaceutical companies are increasingly being targeted for cyberattacks, according to an alert from the FBI. The life sciences industry heavily relies on cloud data storage providers for storing massive data from research and developments and any type of reliance on a third party raises a threat for data breaches.

In the life sciences industry, sensitive data is often collected and stored, including personal health information (PHI) and proprietary research data. This data must be protected from unauthorized access, alteration, and disclosure, as well as from natural disasters and other potential data loss scenarios. Due to these reasons, it is often advised for life sciences companies to restrict vendor access to personal information, especially sensitive category data, which may pose a threat to market growth.

Country wise Insights

How will United States be an Opportunistic Market for Life Sciences Enterprise Storage Market?

The United States is home to a large and diversified life sciences industry, which includes pharmaceutical, biotechnology, and medical device companies. These businesses generate massive data, which necessitates the use of effective storage options.

The U.S government has implemented policies to support the life sciences industry and encourage innovation, including promotion of data sharing and collaboration initiatives. According to Fact. MR's estimate, the US market is anticipated to generate US$ 780.7 million by 2023.

The U.S has a strong infrastructure for the storage and analysis of big data, which includes robust IT infrastructure, large amounts of computational resources, and well-established data management practices. Because of this, it is a desirable nation for life sciences enterprise storage firms. In 2023, US is anticipated to have a value of US$ 780.7 Mn, holding a market share of 29.6% at global level.

What Makes China Growth Epicenter for the Life Sciences Enterprise Storage?

In recent years, China's life sciences sector has expanded quickly owing to increased government support, private company investments, and an increase in the number of biotech and pharmaceutical firms. China has made significant advances in technology, particularly in the areas of genomics, AI and big data. This has led to an increase in the amount of data being generated, creating a need for data storage solutions.

In addition, the Chinese government has been making significant investments in data-driven research and development, particularly in the field of life sciences, which will drive the demand for life science enterprise storage solutions. China is estimated to reach a valuation of US$ 275.8 Mn in 2023 and is expected to grow at a CAGR of 3.7% over forecast period.

Category wise Insights

How On-Cloud Deployment is Likely to Witness an Accelerated Growth?

Cloud-based deployment allows vendors to offer storage solutions that are highly scalable, which is particularly important for life sciences companies that generate large amounts of data and require flexible storage capacity. It eliminates the need for expensive IT infrastructure, such as servers and storage devices, and allows vendors to offer more cost-effective storage solutions.

The trend of cloud-based storage solutions will continue to grow as it provides companies the ability to store, manage, and analyze large amounts of data in a secure, compliant, and efficient manner. On-cloud life sciences enterprise storage is likely to hold a market valuation of US$ 1.7 Bn in 2023 and hold a market share of 66.3%.

How Pharmaceutical End Use Industry to be Focus for Life Science Enterprise Storage Vendors?

Pharmaceutical companies are generating large amounts of data through activities such as drug discovery and development, clinical trials, and post-market surveillance. This data needs to be stored and managed, efficiently, which drives the demand for specialized storage solutions. The data generated from the drug discovery and development process includes large amounts of genomic data from high-throughput sequencing, chemical compounds and assay data that needs to be stored and managed.

In addition, the pharmaceutical industry is increasingly collaborating with other companies and research institutions in the life sciences industry, which is driving the need for storage solutions that allow for easy data sharing and collaboration between different teams and researchers located in different locations. The pharmaceuticals end use industry will have a valuation of around US$ 508 Mn in 2023 and hold a share of 19.3% of the overall market.

Competitive Landscape

Prominent players of life sciences enterprise storage globally are Amazon Web Services, BigMIND Home, Cloudian, DDN, Dell Inc., Fujitsu, Hitachi, HPE, Huawei, IBM, Microsoft Azure, NetApp, Nutanix, Oracle, Pure Storage, Qumulo, Rackspace, Red Hat, Scality, StorCentric, Inc, SUSE, Violin Systems, Western Digital and Zoolz. Life Sciences enterprise storage companies are increasingly focusing on cloud-based solutions, which provide scalability, cost savings, and flexibility, as well as access to advanced analytics and machine learning capabilities. Vendors are also focusing on edge computing options for life science companies that need processing data close to the source.

• In May 2022, leading enterprise cloud data management company, Informatica launched the Intelligent Data Management Cloud (IDMC) for healthcare and life sciences. IDMC is the first AI-powered, cloud-neutral, data management platform in the industry with the capacity to ingest, manage, and control data in a hybrid, multi-cloud environment.
• Snowflake, a data cloud company launched the Healthcare & Life Sciences Data Cloud in March 2022 for better patient care and business results. Healthcare companies will have a unified, integrated, and cross-cloud data platform that eliminates technological and institutional data silos with the launch of Snowflake Healthcare & Life Sciences Data Cloud.

Fact.MR has provided detailed information about the service offering of key vendors of life sciences enterprise storage positioned across regions, sales growth, deployment scale, and speculative technological expansion, in the recently published report.

Segmentation of Life Sciences Enterprise Storage Research

• By System :

  • Storage-Area Network
  • Network-attached storage
  • Direct-Attached Storage
  • Software-Defined Storage
  • Hybrid

• By Deployment :

  • On-Cloud
    • Public
    • Private
    • Hybrid
  • On-Premise
  • Hybrid

• By Enterprise Size :

  • Small Enterprise (Upto 50 Emp)
  • Medium Enterprise (51-250 Emp)
  • Large Enterprise (Above 250 Emp)

• By End Use Industry :

  • Academia & Universities
  • Biotechnology Industry
  • Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)
  • Diagnostics and Screening
  • Government
  • Pharmaceutical Industry
  • Hospitals and Healthcare Centers
  • Medical Devices Manufacturing
  • Digital Health
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA