The Asia Pacific Healthcare Data Monetization Market would witness market growth of 18.6% CAGR during the forecast period (2023-2030).
Patient empowerment is one of the most prevalent concepts in healthcare. Patients have the power to decide whether to share information about themselves or data with other people and organizations. According to studies, most people are comfortable to share this information with their doctor. Still, significantly fewer want it shared with other healthcare providers, insurance firms, or organizations that deal with technology or social media. For instance, companies like Google and Microsoft attempted to enter the health data industry with programs completely devoted to data management and patient integration. With its Apple Health Records app, Apple has made some strides.
The rise in social media, wearables, and app usage spurs this shift toward patient empowerment. People are already sharing a lot of data on these platforms, whether they are aware of it or not. It's a relatively new idea to monetize patient data. Patients can manage and sell their health information to healthcare organizations, pharmaceutical firms, and educational academics. Patients' distinctive information can be utilized to provide individualized therapies in personalized medicine and precision healthcare, where patient data monetization is most frequently discussed.
China has one of the world’s fastest-growing aging populations, according to the World Health Organization. Due to rising life expectancy and falling birth rates, 28% of China’s population is expected to be over 60 by 2040. In 2020, there were around 28.6% of persons in Japan who were 65 or older. Senior households (private homes with people 65 or older) numbered 22.66 million in 2020. India’s elderly population has more than quadrupled in size during the previous 50 years. There were 103.83 million older adults, or those over 60, as of 2011, the most recent year for which data is available from the Census. The growing pharmaceutical industry and rising ageing population in the region will demand for advanced healthcare infrastructure further opening growth prospects for market in APAC.
The China market dominated the Asia Pacific Healthcare Data Monetization Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $99.9 Million by 2030. The Japan market is experiencing a CAGR of 17.9% during (2023 - 2030). Additionally, The India market would register a CAGR of 19.4% during (2023 - 2030).
Based on Type, the market is segmented into Direct, and Indirect. Based on End User, the market is segmented into Pharmaceutical & Biotechnology Companies, Healthcare Payers, Healthcare Providers, Medical Technology Companies, and Others. Based on Deployment, the market is segmented into On-premise, and Cloud. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Healthcare Data Monetization Market is Projected to reach USD 1.3 Million by 2030, at a CAGR of 18%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., SAP SE, Snowflake, Inc., SAS Institute, Inc., TIBCO (The Information Bus Company) Software. Inc., Sisense, Inc. and QlikTech International AB.
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