Healthcare API Market Size, Share, Growth, Trends, Scope, Regional Insights and Forecast 2020 - 2027

Published Date : Jul 2020 | No. of Pages : 200 Pages | Category : Healthcare

The global healthcare API market size is projected to hit around USD 336 million by 2027, according to a new report by Vision Research Reports.

The global healthcare API market size was valued at USD 210 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027.

The healthcare API market is expected to witness robust growth in the near future as healthcare continues to adopt cloud solutions for better patient care, amidst increasing push by governments. The global healthcare API market is also witnessing a growing demand for cloud-based APIs which make it easier to integrate data, and provide critical access to patients for interaction during critical emergencies.

The rising demand for APIs and large investment of tech giants like Amazon, Microsoft, and Apple in the arena are expected to create significant opportunities for players in the healthcare API market. Despite the major areas covered by tech giants, the APIs remain open to the creation of new apps which are patient centric and improve the quality of care for patients significantly. The growing push by programs like MediCaid for healthcare operators to move to the cloud are also expected to drive growth of the healthcare API market.

The study has considered the base year as 2020, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.

Outcomes to Drive Growth

Programs like MediCaid have tied reimbursement of healthcare agencies to improvements in quality care. Among various guidelines issued for improving the quality care, increased emphasis on digital technology, more interaction between patient and doctors, and growth of services like data management are some of them. The data management services also provides myriad of benefits to healthcare operators. Data management makes it easier for healthcare professionals to access records, assess them at free time, and pass them on in case of change in caretaker. Moreover, one of the biggest cost plaguing the healthcare sector is administration costs. With the inclusion of digital platforms, this cost is expected to reduce considerable while simultaneously improving patient satisfaction and medical outcomes. The tremendous potential of APIs in healthcare are expected to drive growth of the healthcare API market.

Cloud to Emerge as a Key Driver of Growth

The rising demand for cloud solution is an indicator of what is to follow in the healthcare sector in the near future. The cloud technology is at its infancy today. Cloud technology combined with Big Data and AI promises to solve major challenges in healthcare. The technology promises better diagnosis, more automated administrative procedures, better insights into various critical illnesses, and data management. Additionally, the technology also promises major breakthrough for research including causation of various illnesses, deep promises in genetics, and new venues for growth with data management solutions. The rising demand for cloud solutions, the growing adoption of cloud technology, and increased entry of new players are expected to drive tremendous opportunities for players in the healthcare API market.

Services Insights

On the basis of services, the healthcare API market is segmented into EHR access, appointments, remote patient monitoring, payment, and wearable medical devices. EHR access dominated the market with a revenue share of over 31% in 2019. API can easily integrate the EHR with other platforms which will help seamless data integration with the third parties. Moreover, the EHR vendors are actively building APIs in their platform to provide value-based patient care which is further increasing the adoption. For instance, in February 2019 Microsoft Azure launched cloud-based API for FHIR standard for better interoperability and data sharing.

The remote patient monitoring segment is expected to exhibit the fastest growth over the forecast period. Connected health and remote patient monitoring gain much attention during the COVID-19 pandemic as doctors and caregivers need to treat patients remotely in order to reduce the risk of contamination. The providers are offering various patient engagement platforms with integrated API for better treatment options and guidance based on their past medical records.

Deployment Model Insights

On the basis of mode of deployment, the healthcare application programming interface market can be segmented into cloud-based API and on premise-based API. The cloud-based API held the largest market share of around 81% in 2019. The growth can be attributed to the availability of free storage space to store and organize healthcare data of patients and hospitals that is easily accessible during emergencies by healthcare professionals and caregivers.

The on-premise healthcare application programming interface also held a considerable revenue share in 2019 owing to its associated advantages such as data privacy and security. This restricts data breaching as they have entire control over the healthcare software. Furthermore, the installation of the software is convenient and the stored data can be utilized for future re-processing.

End-use Insights

On the basis of end-use, the market can be segmented into healthcare providers, patients, healthcare payers, and vendors. Providers segment held the largest revenue with a revenue share of over 45% in 2019. The healthcare providers segment comprises hospitals, clinics, and other organizations. The incorporation of healthcare API in hospitals has propelled the segment growth. API stores medical records, patient information, healthcare data, and patient history which can be easily accessible during an emergency.

The healthcare payers segment is expected to showcase lucrative growth over the forecast period. A customized workflow created by the integrated API ensures easy approval and review of the desired data by healthcare payers and caregivers. API also allows easy patient billing and management of patient appointments. The payers can securely get access to patients’ health records and bills without unwanted phone calls and going through receptionists.

Region Insights

North America dominated the market with a revenue share of around 35% in 2020. This growth can be attributed to various factors such as favorable policies for deployment of healthcare application programming interface and high digital literacy rates. Moreover, the presence of established healthcare infrastructure with integrated EHR of patients is another major growth propelling factor for the market. Increase number of adopters such as big HCOs in the U.S. is expected to further drive the regional demand.

Europe is expected to exhibit the fastest CAGR over the forecast period owing to the established healthcare infrastructure in this region and the advent of the Internet of Things (IoT) and related technologies. The General Data Protection Regulation (GDPR) was implemented on May 25th, 2018 in the European Union, which is a law on data privacy and protection. The law is more stringent than that of the U.S., HIPAA, and addresses the personal export of data outside the European countries, which is expected to increase the adoption of healthcare API.

Key Players - The global healthcare API market is dominated by key players such as Practo Technologies Pvt. Ltd., Microsoft Corporation, General Electric Company, MuleSoft, Inc., Epic Systems Corporation., Allscripts Healthcare Solutions, Inc., Practice Fusion, Inc., Greenway Health, LLC., eClinicalWorks, and Apple Inc.


By Service

  • Appointments
  • Payment
  • Medical Device (Wearable)
  • Electronic Health Record Access
  • Remote Patient Monitoring

By Deployment Model

  • On-premise
  • Cloud-based

By End User

  • Healthcare Providers
  • Healthcare Payers
  • Vendors
  • Patients

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
    • Latin America
    • Middle East
    • Africa

The Healthcare API market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Healthcare API market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Healthcare API market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare API market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Healthcare API market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Healthcare API capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Healthcare API by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Healthcare API market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Healthcare API market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Healthcare API market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Healthcare API industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Healthcare API market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Healthcare API market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Healthcare API market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Healthcare API market. These factors have benefited the growth of the global market for Healthcare API. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Healthcare API. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Healthcare API are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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