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Global Patient Generated Health Data Market is Estimated to Witness High Growth
The global patient generated health data market comprises patient-generated data gathered through personal medical devices, Health applications and related tools that allow patients to generate and record their own health data. This data includes insights such as vital signs, symptoms, daily activities, medications taken, as well as lifestyle choices that can be useful for healthcare providers in diagnosing conditions and determining suitable treatment plans. Personal health records are created and maintained by individuals to document and track their own health conditions, medical tests and procedures, medications and other health related details. Patient generated health data gives the medical practitioners a more comprehensive picture of an individual's health status and how various aspects impact their condition over time.
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 market offers huge opportunities for players engaged in developing innovative software and mobile apps which can help patients effectively document and track health data on their own. This has potential to enhance patient-physician experience and bring more individuals under the healthcare umbrella.
Globally, developed regions such as North America and Europe have seen larger adoption of patient health management platforms. However, developing countries across Asia Pacific and Latin America are expected to witness fastest expansion in the market over the coming years due to growing medical infrastructure and increasing healthcare expenditure in these regions.
Market Drivers
A key driver for the Global Patient Generated Health Data Market Size is the rising awareness about advantages of remotely monitoring health conditions and increasing internet penetration which has boosted the adoption of smart healthcare devices. Many patients now actively engage in tracking vital parameters such as blood sugar, blood pressure, weight, physical activity and medication schedules using digital platforms. This has streamlined disease management and improved collaboration between doctors and patients.
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