In recent years, machine learning and data mining technologies have received growing attention in several areas such as recommendation systems, natural language processing, speech and handwriting recognition, image processing and biomedical domain. Many of these applications which deal with physiological and biomedical data require person specific or person adaptive systems. The greatest challenge in developing such systems is the subject-dependent data variations or subject-based variability in physiological and biomedical data, which leads to difference in data distributions making the task of modeling these data, using traditional machine learning algorithms, complex and challenging. As a result, despite the wide application of machine learning, efficient deployment of its principles to model real-world data is still a challenge. This dissertation addresses the problem of subject based variability in physiological and biomedical data and proposes person adaptive prediction models based on novel transfer and active learning algorithms, an emerging field in machine learning. One of the significant contributions of this dissertation is a person adaptive method, for early detection of muscle fatigue using Surface Electromyogram signals, based on a new multi-source transfer learning algorithm. This dissertation also proposes a subject-independent algorithm for grading the progression of muscle fatigue from 0 to 1 level in a test subject, during isometric or dynamic contractions, at real-time. Besides subject based variability, biomedical image data also varies due to variations in their imaging techniques, leading to distribution differences between the image databases. Hence a classifier learned on one database may perform poorly on the other database. Another significant contribution of this dissertation has been the design and development of an efficient biomedical image data annotation framework, based on a novel combination of transfer learning and a new batch-mode active learning method, capable of addressing the distribution differences across databases. The methodologies developed in this dissertation are relevant and applicable to a large set of computing problems where there is a high variation of data between subjects or sources, such as face detection, pose detection and speech recognition. From a broader perspective, these frameworks can be viewed as a first step towards design of automated adaptive systems for real world data.