April 12, 2024
Patient Generated Health Data Market

The Global Patient Generated Health Data Market is Rising Due to Increased Usage of Wearable Devices

The global patient generated health data market comprises medical devices and applications used by individuals to monitor and track their health parameters outside of conventional clinical settings. Wearable devices that monitor vital signs, activity trackers, and mobile applications that record symptoms allow patients to become more engaged with their own care and wellness. These tools empower individuals by providing access to personal health metrics for managing chronic conditions. The generated data can also be shared with clinicians for improved diagnosis and remote monitoring.

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 include 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 growing prevalence of chronic diseases and increasing awareness about preventive healthcare is driving for Patient Generated Health Data Market Demand solutions. Growing geriatric population, rising healthcare costs, and increasing doctor-patient interactions through remote monitoring are expected to boost the global expansion of the patient generated health data market during the forecast period.

Growing demand in the market:

The increasing usage of digital health solutions and incorporation of AI and IoT in medical devices is widening the scope of patient generated health data. Wearable health monitors and smartphones can now track vital signs, activity levels, sleep patterns, diet, symptoms, medication intake and other valuable patient-reported outcomes. This empowers individuals to better understand their health status while minimizing hospital visits. The surging demand for personalized healthcare is a major factor driving the adoption of patient generated solutions.

Global expansion of the market:

Technology companies are increasingly partnering with health systems to leverage real-world patient data for improving patient outcomes. As reimbursement policies evolve to incentivize the use of remote monitoring solutions, adoption is expected to rise significantly. Favorable regulations supporting data sharing with appropriate privacy and security protocols will enhance the scalability of patient generated health data platforms globally. Growing investments from industry players and government initiatives promoting digital health will also aid the expansion of this market across international markets.

Market key trends

Wearable technology is a significant trend in the patient generated health data market. Devices such as smartwatches and fitness trackers allow users to conveniently capture metrics on blood pressure, blood sugar, ECG, activity levels and more without visiting clinics. The portability and connectivity of these devices have augmented at-home monitoring and patient engagement in management of chronic diseases. With ongoing innovations, wearables are expected to become more clinically-validated and precise in measurements for improved decision making.

Porter’s Analysis

Threat of new entrants: The threat is moderate due to high capital requirements for establishing patient generated health data platforms. Bargaining power of buyers: The power is moderate as buyers have several platform options. Bargaining power of suppliers: The power is low as there are many platform and app developers. Threat of new substitutes: The threat is low as there are limited substitutes for collecting and managing health data. Competitive rivalry: The rivalry is high among existing players providing platforms and apps for patient generated health data.

North America accounted for the largest share of the global patient generated health data market in 2024. High penetration of smart devices and wearables, growing prevalence of chronic diseases, shift towards patient-centric healthcare systems are driving the market in the region.

Asia Pacific is projected to grow at the highest CAGR during the forecast period. Improving healthcare infrastructure, rising affordability, increasing incidence of lifestyle diseases are factors fueling the demand for patient generated health data solutions in emerging countries of Asia Pacific.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it