Patient-Generated Health Data Market Size is valued at USD 5.9 Bn in 2023 and is predicted to reach USD 21.05 Bn by the year 2031 at a 17.3% CAGR during the forecast period for 2024-2031.
Patient-generated health data is collected and measured directly by patients outside traditional clinical settings. This type of data provides vital insights into a patient's health that are unavailable from quick clinical visits alone. There are two forms of patient-generated health data: data collected via tools and equipment and data provided directly by patients. Data collected using tools and devices includes signals from connected gadgets that patients use to track and monitor their health at home. This comprises weight scales, blood pressure cuffs, glucometers, and activity trackers. It also contains tools that allow patients to easily track other health indicators over time, such as symptoms, food, medications, and so on, using mobile apps or web portals.
The market is being driven by an expanding trend of patient empowerment and engagement, in which people actively participate in controlling their health. This has increased demand for tools and technology that allow people to collect and monitor their health data. However, there are significant limitations in the PGHD market. As the collection and sharing of personal health information grow, the significance of data privacy and security is on the rise. It is critical to protect patients' privacy and follow data protection standards. A further obstacle is the interoperability of various devices and platforms. Stakeholders must collaborate to standardize and seamlessly integrate PGHD into existing healthcare systems.
Competitive Landscape
Some Major Key Players In The Patient-Generated Health Data Market:
- 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
- Athenahealth, Inc.
Market Segmentation:
The Patient-Generated health Data Market is segmented on the basis of data type and end-users. Based on data type, the market is segmented as Fitness & wellness data, Disease management data, Remote monitoring data, and Others. By end-user, the market is categorized into Hospitals & clinics, Research centres, Healthcare payers, and Others.
Based On Data Type, Fitness And Wellness Data Is The Most Popular Segment Of The Market.
Fitness and wellness data are the most prominent segments of the Patient-Generated Health Data (PGHD) market. Many people are interested in measuring their Fitness, physical activity, sleep patterns, and overall health. This area appeals to a diverse spectrum of people who want to take control of their health and make informed lifestyle choices. The growing popularity of wearable devices and mobile apps has increased the demand for Fitness and wellness data. People are actively participating in activities that promote a healthy lifestyle, and tracking their data allows them to stay motivated and meet their fitness goals.
Based On Application, Healthcare Payers Are The Fastest-Expanding Segment Of The Market.
Healthcare payers are projected to be the fastest-expanding segment of the Patient-Generated Health Data (PGHD) market. Healthcare payers, including insurance companies and government healthcare programs, are increasingly realizing the importance of PGHD in improving patient outcomes and lowering costs. They integrate patient-generated health data into their initiatives to encourage preventative care, chronic illness management, and individualized healthcare.
In The Region, The North America Patient Generated Health Data Market Holds A Significant Revenue Share.
North America has been the dominating market for patient-generated health data. The magnitude of the US healthcare business, as well as the presence of key technological players, have been crucial drivers for the region. Furthermore, substantial healthcare spending per capita and a well-established regulatory environment that encourages patient involvement efforts have allowed technology to thrive in collecting health data directly from patients. Moreover, Asia Pacific has emerged as the most rapidly expanding geographic market. Countries such as China, Japan, and India are heavily investing in digital health technologies to suit the changing demands of their rapidly expanding patient populations. Favourable government policies for telehealth and remote patient monitoring are hastening adoption.
Recent Developments:
- In Oct 2023, Medtronic plc established a strategic alliance with La Poste to enhance patient experiences, utilize data, and utilize artificial intelligence (AI) in healthcare. Both partners aimed to assist healthcare providers in utilizing digital tools to improve patient care across all stages of the care process, in response to increasing patient volumes and overburdened healthcare infrastructures.
- In August 2021, In June 2021, Apple introduced a new health sharing feature that allows people to share consumer-generated health data with their doctors, family, and friends. Apple has been focusing on increasing patients' access to their data for an extended period of time. In 2018, the firm launched Health Records on iOS, which combined user-generated data from their Health app with data from their Electronic Health Record (EHR) if the user was a patient at a partner hospital.
Patient-Generated Health Data Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5.9 Bn |
|
Revenue Forecast In 2031 |
USD 21.05 Bn |
|
Growth Rate CAGR |
CAGR of 17.3% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Data Type, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
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. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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