The Global patient generated health data market involves health data or health-related data that is created, recorded, gathered or inferred by or from patients or their designees. This data is used for various purposes such as keeping health records, R&D, medical records, and clinical records. Patient generated health data includes data gathered from home-based patient monitoring devices, personal health and wellness applications, and social media posts about patients' health conditions. Several healthcare organizations began exploring patient-generated data to improve healthcare outcomes.

The global patient generated health data market size was valued at US$ 5.80 Bn in 2023 and is expected to reach US$ 19.06 Bn by 2030, growing at a Compound Annual Growth Rate (CAGR) of 18.5% from 2023 to 2030.

Key Takeaways

Key players operating in the global patient generated health data market are Ancestry, Gene By Gene, Ltd. 23andMe,Inc., Color Genomics,Inc, Myriad Genetics,Inc, Mapmygenome, Positive Biosciences, Ltd, Futura Genetics, Helix OpCo LLC, MyHeritage Ltd., Pathway Genomics, Veritas, Amgen, Inc., Xcode Life, Diagnomics, Inc., Toolbox Genomics, SomaLogic, Inc., inui Health, AgeCurve, QuickCheck Health, Biomeb, Metabolomic Discoveries GmbH, Illumina, Inc., Genetic Technologies Limited. These key players are investing heavily in R&D to develop advanced technologies for collecting, storing, and analyzing patient generated health data.

Several Global Patient Generated Health Data Market Size exist to rising investments in digital health and increasing adoption of telehealth and remote patient monitoring services across the globe. The market players are also expanding their global footprint by partnering with healthcare organizations and establishing offices in emerging countries.

Market Drivers and Restraints

The growing importance of healthcare data analytics is one of the key drivers propelling the global patient generated health data market growth. Analyzing large volumes of patient data helps healthcare providers gain valuable insights into disease patterns, treatment outcomes, and medication responses. This aids clinical decision making and improves patient care. Additionally, rising investments of pharmaceutical and biotechnology companies in clinical research is fueling the demand for patient data. The availability of low-cost sensor technologies is also enhancing the volume of patient data.

However, data privacy and security concerns pose a major challenge to the market. Patients are hesitant to share sensitive health information due to the risks of data breaches and leakage. Stringent regulations around data privacy and lack of data integration standards also restrict the growth of the patient generated health data market. High costs associated with data storage and management further impede the market expansion.

Segment Analysis
The global patient generated health data market is segmented based on sources, product type, application, and region. Based on source, the market is sub-segmented into mobile devices wearables, home diagnostics and others. The mobile device sub-segment holds highest market share due to wide usage of smartphones for data collection. Web-based and mobile apps allow patients to self-report on symptoms, diet and activity.

Based on product type, the market is classified into health data platforms, ePDAs & mHealth apps and services. Health data platforms sub-segment dominates the market as these platforms help enable individuals to collect, track and share their health data using apps and connected health devices. The major use of health data platforms is to monitor vitals, chronic conditions and improving lifestyles.

Based on application, the market is divided into clinical research & trials, health care providers, insurance companies, pharmaceutical companies and others. The clinical research & trials application holds the major share in the market as patient generated health data facilitates the development of more personalized treatments and improves recruitment for clinical studies. Patient's lifestyle and clinical information captured through remote monitoring help enhance clinical research.

Global Analysis
Regionally, North America holds the largest share in the global patient generated health data market owing to rising healthcare expenditure, developed healthcare infrastructure and favorable government policies for data collection in the region. The Asia Pacific region is anticipated to register the fastest growth rate during forecast period due to growing awareness, improving healthcare facilities and increasing penetration of smartphones and connected medical devices in the region.

Globally major players are focusing on strategic collaborations and new product launch to strengthen their market position. For instance, in January 2023, Healthy.io entered into a partnership with HealthBase allowing users to integrate at-home test results with clinical records. Such initiatives are helping companies expand their presence and boost market revenue. Growing demand for personalized care, technological advancements and increasing investments by key players are some of the factors driving the growth of global patient generated health data market during the forecast period.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)