Healthcare API Market

The report "Healthcare API Market by Services (Electronic Health Record access, Appoinment,Remote Patient Monitoring, Payment, Medical Devices (Wearable), Deploment Model (On Premise, Cloud Based), End User (Provider, Payer, Patient, Vendor)-Global Forecasts to 2030", is projected to reach USD 310.0 million by 2030 from USD 215.5 million in 2022, at a CAGR of 3.5% during the forecast period

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The growth of this market is driven by factors such as growing use of Electronic Health Records (EHRs) with integrated Application Programming Interfaces (APIs) that provide simplicity and ease of healthcare data accessibility, improved patient outcomes increased patient satisfaction, and advancement in standard treatment are propelling the market expansion. However, loss and manipulation of important patient information and concerns related to privacy breaches limit the market growth.

“EHR Access segment is expected to grow at the highest rate during the forecast period”

Based on services, the Healthcare API market is segmented into Electronic Health Record Access, Appointments, Remote Patient Monitoring, Payment and medical devices (Wearable). In 2021, the Electronic Health Record Access segment accounted for the largest market share of the global Healthcare API market and also expected to grow at the highest CAGR during the forecast period. API easily integrating with EHR and seamlessly integrating data with third parties are the key factors driving the growth of this market segment.

“Cloud based  segment accounted for the largest share of the global Healthcare API market”

Based on deployment model, the Healthcare API market is segmented into on premise and cloud based. The Cloud based segment accounted for the largest share of the global market in 2021. The development of this segment can be ascribed to the availability of free storage space to organise and keep patient and hospital healthcare data that is readily available to healthcare professionals and caregivers during emergencies..

“The Provider segment accounted for the largest share of the Healthcare API market in 2021”

On the basis of End User, the Healthcare API market is segmented into Payers, Providers, Patients, Vendors. The Provider segment accounted for the largest share of the market in 2021, owing to Hospitals adoption of healthcare API. Medical records, patient data, healthcare information, and patient histories are all kept in API and are readily available in case of an emergency.

“North America is expected to dominate the Healthcare API market in 2022”

North America accounted for the largest share of the global Healthcare API market in 2021 and also expected to grow at the highest CAGR during the forecast period. North America, which comprises the US, and Canada forms the largest market for Healthcare API market. This expansion can be linked to a number of elements, including high levels of digital literacy and legislation that are supportive of the use of healthcare APIs. An further significant growth-promoting aspect for the industry is the existence of an established healthcare infrastructure with integrated patient EHR. The regional demand is anticipated to be further fueled by an increase of adopters, such as large HCOs in the United States.

Prominent players in this market are Microsoft Corporation, Apple Inc., Greenway Health, LLC, MuleSoft, Inc., General Electric Company, Practice Fusion, Inc., Epic Systems Corporation , Allscripts Healthcare Solutions Inc., eClinicalWorks LLC., Practo Technologies Pvt. Ltd., Cerner Corporation, Corepoint Health, Redox, xealth, Sansoro Health, Google LLC, eClinical Works LLC, Change Healthcare, Apigee, TrueVault, Meditech. Players adopted organic as well as inorganic growth strategies such as product upgrades, collaborations, agreements, partnerships, and acquisitions to increase their offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

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