The global patient generated health data market comprises patient generated health data obtained through various modes such as mobile applications/software, wearable devices, and others. Patient generated health data provides valuable insights into an individual's health and healthcare that can empower patients to take more active roles in their own care. It allows patients to generate their own health data and share it with their healthcare providers. Patient generated health data plays an important role in chronic care management and offers various advantages such as ease of monitoring health parameters remotely, early detection of deteriorations or exacerbations, and improved care continuity.
The Global Patient Generated Health Data Market is estimated to be valued at US$ 20.06 BN in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global patient generated health data market are Apple Inc., Fitbit, Inc., Dexcom, Inc., Medtronic plc, Omada Health, Inc., Propeller Health, AliveCor, Inc., WellDoc, Inc., Noom, Inc., Livongo Health, HealthMine, Inc., Epic Systems Corporation, Allscripts Healthcare Solutions, Cerner Corporation and Athenahealth, Inc. The increasing adoption of mobile health apps and wearable medical devices generates huge amounts of patient data. Leveraging Global Patient Generated Health Data Market Size helps clinicians in making well-informed treatment decisions as patients can closely monitor their health conditions at home. Growing penetration of internet and smartphones along with increasing awareness about remote monitoring and management is boosting the global patient generated health data market.
The rising prevalence of chronic diseases and growing geriatric population has increased the demand for remote monitoring and patient engagement solutions. This growing demand acts as a key driver for patient generated health data. Remote monitoring helps in early detection of deteriorations or exacerbations in chronic conditions allowing timely clinical interventions leading to improved health outcomes. It also aids in effective management of chronic conditions, reduced costs, and enhanced quality of life.
Growing investments by healthcare IT players for development of integrated software and mobile health apps capable of collecting and compiling patient data is fueling the growth of this market. Favorable government initiatives and data privacy laws are encouraging providers as well as patients to adopt patient generated health solutions. In addition, increasing penetration of internet and smartphones even in remote and rural areas is supporting healthcare organizations to expand their services globally.
Market drivers
The increasing penetration of connected devices especially wearable health monitors and sensors along with growing preference for home healthcare is a major factor driving the patient generated health data market. Wearable medical devices allow continuous monitoring of vital health parameters outside of clinical settings which is helpful in maintaining health records of high-risk individuals & chronic disease patients. The growing trend of digitalization in the healthcare industry supports the secure collection and analysis of patient data through mobile apps & connected devices. Moreover, favorable government initiatives and policies regarding patient access to medical records is creating awareness about self-care and promoting digitization in the healthcare ecosystem. Continuous technology advancements in data analytics, artificial intelligence, and IoT have enabled seamless sharing and analysis of patient data between consumers and providers. Leveraging patient insights improves quality of care, disease management, drug development, and facilitates value-based reimbursements.
Current Geopolitical Impact on Patient Generated Health Data Market Growth
The global Patient Generated Health Data market is witnessing varied growth trends across different geographical regions due to shifting geopolitical dynamics. Regions facing political tensions and conflicts are experiencing slower adoption of new healthcare technologies compared to politically stable areas. The ongoing Russia-Ukraine war has disrupted the Patient Generated Health Data market in Eastern Europe. Supply chain issues and economic sanctions have negatively impacted procurement of relevant devices and data integration solutions in the region. However, countries in North America and Western Europe continue investing aggressively in empowering patients to monitor their health on their own outside clinical settings and share data with providers. This is boosting the Patient Generated Health Data market growth. The market is also finding new opportunities in emerging economies of Asia Pacific and Latin America driven by rising healthcare expenditures and focus on emerging technologies. But regional political stability would be a key prerequisite for sustainable growth over the long-term in these areas.
Geographical Regions with Highest Patient Generated Health Data Market Value
North America represents the largest geographical market for patient generated health data in terms of value currently. This is attributed to factors like advanced healthcare infrastructure, early technology adoption trends, presence of leading market players and conducive regulatory framework supporting data sharing initiatives between patients and providers in countries like the US. Western Europe is the second largest regional market driven by growing emphasis on patient-centric care models across major countries. Asia Pacific is identified as the fastest growing regional market fueled by rising middle class populations, improving access to smartphones and other connected devices in countries like China and India. Supportive health surveillance programs by governments are also fostering mobile health adoption.
Fastest Growing Regional Market for Patient Generated Health Data
Asia Pacific region offers most promising growth opportunities for global Patient Generated Health Data market over the forecast period. This is due to rising healthcare expenditures of developing economies, rapidly expanding base of smartphone users, growing incidences of lifestyle diseases and related healthcare reforms motivated by healthcare technology enablement in the region. In addition, presence of large patient pools suffering from chronic diseases and increasing collaborations between technology companies and regional health service providers are aiding Asia Pacific’s emergence as the fastest growing regional market between 2024 to 2031. Countries like China, India, Japan, South Korea and Australia are envisioned to steer the Asia Pacific Patient Generated Health Data market growth through focus on patient-first care delivery models.
Get more insights on Patient Generated Health Data Market
