Global Healthcare API Market Overview:
The entire idea of having connected health with all the sensors, smart gadgets, and fitness trackers that tell the users as to when to exercise or to drink water, this has been growing widely popular among the big-name companies and the small startups alike. For instance, Google and Apple both are investing in the development of their very own ecosystems so as to integrate with iOS and Android health and fitness applications. The healthcare APIs allow the developers to flawlessly integrate the health applications with the individual devices and the entire ecosystems, which also safely stores as well as accesses the health data. However, these healthcare APIs integrated with medical apps are not very much welcomed by the hospitals and healthcare professionals. Presently, the healthcare networks usually use their own set of EHR (electronic health record) systems which are not compatible with the record systems of the other networks and hence do not allow for even a simple exchange of health data among the doctors and facilities. More and more of the companies among the software developers and the healthcare networks have realized that the healthcare API can prove to be very beneficial for them. Nowadays, patient-centric healthcare is one of an emerging trend in the healthcare delivery that has, in turn, resulted in much better outcomes, greater levels of patient satisfaction, and has also made an improvement in the care quality. With the emergence of the host of services, like the remote patient monitoring and the wearable medical devices, has further increased the demand for these healthcare API solutions, which therefore assist the patients to know the complete details about the experience, timing of a doctor, and specialty before consulting them. In addition, to all these the patients can also follow their own appointment indication and could visit only when it is very essential. The global healthcare API market is mainly driven by an increase in the adoption of the API-integrated electronic health records (EHRs), which would provide ease of data accessibility. Moreover, the frequent upgradations and the rise in initiatives by the EHRs vendors and healthcare IT startups look up towards fueling the market growth. This healthcare API can be useful to patients, hospitals, and researchers as well.
As per latest study released by AMA Research, the Global Healthcare API market is expected to see growth rate of 20.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Adoption of Clinical and Non-Clinical Healthcare API Solutions With the Rise in Remote Patient Monitoring
Market Growth Drivers:
Rising Penetration of Connected Devices in the Healthcare Sector Across the Globe, Increasing in Investment in the Healthcare Manufacturers Towards API and Growing Requirement to Reduce the Healthcare Costs
Challenges:
Rising Incidences of Data Breach and Loss of Confidentiality
Restraints:
Fragmented End-User Market Restricts Development of Standard It Platforms
Opportunities:
Consolidating The Healthcare System And The Role Of Software Architecture Oriented Programs and Shifting Focus Towards Patient-Centric Systems
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Practo Technologies Pvt. Limited (India), Microsoft Corporation (United States), Google (United States), Apple (United States), General Electric Company (United States), MuleSoft (United States), Epic Systems (United States), Allscripts Healthcare Solutions (United States) and Practice Fusion (United States). Additionally, following companies can also be profiled that are part of our coverage like Greenway Health (United States) and EClinicalWorks, LLC (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Healthcare API market by 2030. Considering Market by Components, the sub-segment i.e. Products will boost the Healthcare API market. Considering Market by Deployment Type, the sub-segment i.e. In Premises will boost the Healthcare API market. Considering Market by End-User, the sub-segment i.e. Healthcare Providers will boost the Healthcare API market. Considering Market by Device Used, the sub-segment i.e. Head-Mounted Display will boost the Healthcare API market. Considering Market by Mode of Service, the sub-segment i.e. Operation Services will boost the Healthcare API market.
Latest Market Insights:
In April 2019 symplr, a leading healthcare governance, risk and compliance software-as-a-service platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and SkyKnight Capital announced that it has completed the acquisition of API Healthcare from Veritas Capital ("Veritas"). Financial terms were not disclosed
In April 2020, Google Cloud announced Monday the general availability of a technology tool that will make it easier for health systems and providers to connect data across different sources and share those data with patients.
What Can be Explored with the Healthcare API Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Healthcare API Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Healthcare API
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Healthcare API market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Healthcare API market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Service Providers of Healthcare API, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.