Global Healthcare API Market was valued at USD 210.5 Million in 2019 and is expected to reach over USD 384 Million by 2026, growing at a CAGR of around 9.1% during the forecast period from 2020 to 2026
According to the report, the global Healthcare API market was valued at USD 210.5 Million in 2019 and is expected to reach over USD 384 Million by 2026, growing at a CAGR of around 9.1% during the forecast period from 2020 to 2026.
Higher patient satisfaction, improved outcomes, and development in care quality are some of the factors that are driving the healthcare API market. The existence of services, for instance, wearable medical devices and remote patient monitoring, has augmented the demand and popularity of the global healthcare API market.
Global Healthcare API Market: Overview
Patient-centric health-related sector is the up-coming value-based form particularly for the healthcare delivery, which has actually resulted in the development of better outcomes, care quality, and improvement in patient contentment. Increasing focus majorly on patient-centric healthcare delivery via (APIs) has been renowned in the past and the emergence/appearance of several services, such as inaccessible patient check-up and wearable medical equipment has increased the demand and popularity for the global healthcare API market.
Global Healthcare API Market: Growth Factors
Higher patient satisfaction, improved outcomes, and development in care quality are some of the factors that are driving the healthcare API market. The existence of services, for instance, wearable medical devices and remote patient monitoring, has augmented the demand and popularity of the global healthcare API market. The healthcare API supports patients’ to get familiar with each and every detail about specialty, experience, and timing of a doctor/specialist before seeking advice from them. Furthermore, patients may follow their regular appointment suggestion and visit doctors only when it is required. The global healthcare API market is majorly propelled by growth in acceptance of API incorporated with (EHR’s) electronic health records, which offer ease and simplicity of data/information accessibility. Furthermore, regular up gradations and growth in many initiatives by EHRs traders and healthcare IT start-ups propel the healthcare API market development.
On the other hand, loss and manipulation of significant patient information/data and issues associated with confidentiality breaches restrain the market development. In addition, constant growth in several government initiatives to move from conventional procedure to technically developed healthcare systems and IT-enabled systems and services is projected to offer several opportunities and scope for the market expansion.
Global Healthcare API Market: Segmentation
The global healthcare API market is classified based on end-user, deployment model, service, and region. The service division comprises remote patient monitoring, payment, appointments, electronic health record access, and medical device (wearable). In terms of deployment model, the healthcare API market is divided into cloud-based and on-premise. In terms of the end user, it is categorized into healthcare providers, healthcare payers, patients, and vendors.
Global Healthcare API Market: Regional Analysis
The global healthcare API market is projected to be led by North America. The region is projected to emerge as the most important revenue producer due to the existence of many well-known key players. The large-scale acceptance of healthcare IT systems is regarded to be a long-term prospect for the growing economies. Due to this, several key players offering healthcare API solutions acquire a considerable part of their revenue particularly from the Europe and North America markets.
The number of key players that are currently working toward increasing their trace across numerous up-coming economies in Latin America and the Asia Pacific has increased considerably due to which the vast opportunities and prospects in store, as well as the untapped perspective in countries such as India, Brazil, Japan, and China, has also increased. Asia Pacific is anticipated to be the highest developing region in the global healthcare API market. The rising demand and popularity based on API electronic health services and wearable medicinal equipment are likely to propel the global healthcare API market, particularly in this region. The global healthcare API market in Latin America is projected to propel by the growing demand and popularity for a distant patient check-up as well as appointment services.
Global Healthcare API Market: Competitive Players
Some of the most important market players in the global healthcare API market are Practo Technologies Pvt. Ltd., MuleSoft, Inc., Microsoft Corporation, Epic Systems Corporation, General Electric Company, Allscripts Healthcare Solutions Inc., eClinical Works LLC, Greenway Health, LLC, Apple, Inc., and Practice Fusion, Inc., among others.
Global Healthcare API Market: Regional Segment Analysis
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