Global Healthcare API Market: Overview
The healthcare API market report provides an in-depth analysis of the global healthcare API market for the period 2014 – 2024, wherein 2015 is the base year and the years from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the healthcare API market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during the forecast period. The study provides a holistic perspective on market growth in terms of revenue estimates (in US$ Mn), across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LATAM). The report provides cross-sectional analysis of the global healthcare API market in terms of market estimates and projections for all the segments across different geographic regions. The report also covers profiling of major players, their growth strategies, their market positioning, and their various recent developments, and includes market positioning analysis of key players operating in the healthcare API market.
This research study on the global healthcare API market provides a detailed analysis of various type healthcare services available in the market integrated with API. Based on the services, the market is further divided into the electronic health record access, appointments, remote patient monitoring, payment, and medical device (wearable) segments. On the basis of deployment model, the market is segmented into on-premise and cloud-based models and based on end-users it is segmented into the healthcare provider, healthcare payer, patients, and vendors segments. The report includes a comprehensive coverage of the underlying economic and technological factors under the key trend analysis section.
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Global Healthcare API Market – Snapshot
Patient-centric healthcare is an emerging value-based model for healthcare delivery, which has resulted in an improvement in care quality, better outcomes, and greater patient satisfaction. Growing focus on patient-centric healthcare delivery via application programming interfaces (APIs) has been noted over the recent past and the emergence of a host of services, such as wearable medical devices and remote patient monitoring has spurred the demand for healthcare API solutions.
The gradual rise in the acceptance and adoption of healthcare API solutions by doctors, patients, and payers is expected to benefit the global market during the forecast period. The revenue generated by the global healthcare API market was pegged at US$162.4 mn in 2015 and expanding at a 4.2% CAGR, the market revenue is poised to reach US$234.2 mn by 2024.
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Healthcare Providers Leading End Users of Healthcare API Solutions
The key end users of healthcare API solutions include healthcare payers, healthcare providers, patients, and vendors. The healthcare providers segment is the leading end user and the segment is also projected to expand at the highest CAGR of 4.5% during the forecast period. To a large extent, this growth can be attributed to large hospitals and laboratories looking for automated solutions for the management of non-core activities such as patient appointment booking and order tracking.
Given the ease and flexibility the healthcare application programming interface provides in scheduling appointments with doctors, the appointment segment is the most preferred healthcare API service. The segment is also anticipated to expand at the highest CAGR of 4.3% from 2016 to 2024.
Some of the leading healthcare API service providers are MuleSoft, Inc., Practo Technologies Pvt. Ltd., Epic Systems Corporation, Microsoft Corporation, Allscripts Healthcare Solutions Inc., General Electric Company, Greenway Health, LLC, eClinicalWorks LLC, Practice Fusion, Inc., and Apple, Inc.
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