Lifesciences Enterprise Storage Market Dynamics and Competitive Scenario through 2026

Lifesciences sector faces challenges in terms of management of data generated in IT segment. These management issues arise the demand for efficient storage solutions. Huge amount of data is generated on daily basis which drives the demand for enterprise solution for lifesciences. Different types of clinical data that are generated in different domains that include genomics, drug discovery and pharmaceutical development employ lifesciences enterprise storage solutions for data storage and management. Stake holders are keen to use effective solutions as these data are very valuable.

Latest Fact.MR report predicts the global lifesciences enterprise storage market to grow at 4.2% CAGR in the coming years. The total worth of the lifesciences enterprise storage solutions that will be sold by the end of the year 2026 is estimated to be US$ 2.6 Bn. The report highlights the fact that enterprise storage solutions of US$ 750Mn had been adopted across the globe by the year 2017.

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Extensive data network attracts customers and end-users

Owing to this importance, lifesciences companies are collaborating with different businesses which in turn propels global lifesciences enterprise storage market. Different companies and governments have acknowledged the untapped opportunities in the lifesciences enterprise storage market and are working towards attracting the customers in the global market with lucrative opportunities. The report states that the total worth of lifesciences enterprise storage solutions adopted across the globe is expected to exceed US$ 1.1 Bn by the end of the year 2026. Attached storage network model will be adopted to connect all storage solutions present worldwide. Lifesciences enterprise storage solution’s demand is increasing and gaining traction on the backdrop of extensive data network that are being utilized in different entrepreneual projects in lifesciences sector. The storages that are attached to servers are anticipated to expand at the fastest pace in the coming years and the growth rate to be attained in future is predicted to be 5.4% CAGR.

Server attached storage is significant network for storage

The global market can be segmented in different customer segments which are academia, CRO, government, biotech, pharmaceuticals, diagnostic & screening. The primary lifesciences enterprise storage types are storage attached network, server attached storage and network attached storage. The enterprise storage solution employs two types of delivery models which are on premise and on cloud.

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On-premise model is adopted in majority of the actively used lifesciences enterprise storage solutions. This model is expected to generate revenue on the basis of the cloud-based deployment and its advantages. Lifesciences enterprise storages that are worth US$ 1.6 Bn are assessed to be adopted worldwide with all of these being on premise model. The cloud deployment of such solutions is expected ot grow steadily in future with growth rate of 5% CAGR in the near future.

Majors take holders are progressing towards expanding their business. They are employing innovations as the key component to gain competitive edge.  Prominent players in the market are HPE, NetApp, Hitachi, HPE, IBM and ODM Direct.

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