Increased Demand for Individualized and Proactive Healthcare Drives PGHD Integration – Comprehensive Research Report on Patient-Generated Health Data 2024-2030 from ResearchAndMarkets.com
In a recent report released by ResearchAndMarkets.com, the global market for Patient Generated Health Data (PGHD) is projected to grow significantly over the next decade. The report, which can be accessed at this link, covers a forecast period from 2024 to 2030 and is 277 pages long.
The report provides insights into market trends, drivers, focus on select players, and a comprehensive market overview. Key regions for PGHD adoption include North America, Europe, and Asia-Pacific, with use cases expanding across various conditions such as diabetes, cardiovascular disease, mental health, oncology, and respiratory illness.
Several factors drive this substantial market growth. One of the key drivers is the increased adoption of digital health technologies. The growing use of wearables, smartphone apps, and remote monitoring devices enables continuous patient data collection, providing longitudinal health insights critical for personalized care.
Another significant factor is the improvement in patient outcomes and care management. PGHD integration into clinical workflows contributes to reductions in hospital readmissions by about 30%, improved diagnostic accuracy (up to 20%), and better patient engagement and satisfaction, leading to more effective treatment adherence.
Healthcare analytics advancements also play a crucial role. Big data, predictive, and prescriptive analytics fueled by PGHD allow providers to deliver targeted care, improving operational efficiencies and cost savings, with potential annual healthcare cost reductions of up to $300 billion if data utilization is significantly increased.
Technological advancements and regulatory support are also encouraging the broader acceptance of PGHD among healthcare providers, payers, and research centres. Integration with electronic health records and the development of secure, cloud-based platforms facilitate real-time access and collaboration.
Rising consumer health awareness and lifestyle focus are also contributing to the growth of the PGHD market. Studies showing that lifestyle and socio-environmental factors contribute to about 80% of health outcomes encourage patients to actively generate and share health data, enriching health narratives to support preventative and chronic disease management.
Key industry players and ecosystem development are further fostering innovation and market penetration. Major companies like Apple, Fitbit, Dexcom, Medtronic, and software providers like Epic Systems and Cerner are expanding solutions around patient-generated data.
The estimated market value in 2024 is $5.2 Billion, and it is forecasted to reach $7.5 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.1%. The report covers 34 companies in the Patient Generated Health Data market.
In summary, the PGHD market is expanding rapidly due to technological innovation, patient-centered care trends, and the growing recognition of PGHD's impact on improving healthcare outcomes and reducing costs. Chronic disease monitoring, post-discharge care, and wellness tracking are creating high-utility application areas for PGHD. The use of PGHD is transforming patient monitoring and personalized care delivery, particularly in chronic disease management and preventive health.
- The adoption of digital health technologies, such as wearables, smartphone apps, and remote monitoring devices, is a significant driver in the growth of the Patient Generated Health Data (PGHD) market.
- Integration with electronic health records and the development of secure, cloud-based platforms are encouraging healthcare providers, payers, and research centers to accept PGHD.
- The global market for PGHD is forecasted to reach $7.5 Billion by 2030, with a Compound Annual Growth Rate (CAGR) of 6.1%, highlighting the potential for data-and-cloud-computing in the healthcare sector.
- The news of growth and innovation in the PGHD market, particularly in the areas of chronic disease monitoring, post-discharge care, and wellness tracking, is a testament to the role of technology and science in addressing medical-conditions and promoting health-and-wellness.
