Aug 18, 2020   SOURCE: PR NewsWire

Healthcare API Market Size Worth $336.02 Million by 2027 | CAGR: 6.3%: Grand View Research, Inc.

SAN FRANCISCO, Aug. 18, 2020 /PRNewswire/ -- The global healthcare API market size is expected to reach USD 336.02 million by 2027, according to a new report by Grand View Research, Inc. The market is projected to register a compound annual growth rate (CAGR) of 6.3% from 2020 to 2027. Increasing demand for healthcare integration and adoption of Application Programming Interfaces (APIs) by the HCOs are the major factors driving the growth of the market.

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Key suggestions from the report:

    --  In terms of revenue, the Electronic Health Record (EHR) access dominated
        the application segment in 2019. The growth can be attributed to the
        adoption of the API platform in EHR by the big and small HCOs
    --  Remote patient monitoring segment is expected to show the fastest growth
        over the forecast period owing to the technological advancements in
        remote diagnostics and wearable sensors
    --  On the basis of the deployment model, cloud-based API held the largest
        revenue with a share of over 70% as of 2019. The growth can be
        attributed to its associated advantaged such as ample of free storage
        and remote access
    --  On the basis of end-use, providers held the largest revenue share in
        2019 owing to increased adoption of APIs by big and small HCOs. HCOs are
        constantly trying to provide better patient care and remote treatment
        guidance which is further propelling the growth
    --  The healthcare payers segment is expected to showcase the fastest growth
        over the forecast period. The growth can be attributed to easy access to
        patient data and billing information by these API platforms

Read 100 page research report with ToC on "Healthcare API Market Size, Share & Trends Analysis Report By Services (EHR Access, Appointments, Remote Patient Monitoring), By Deployment Model (Cloud Based, On Premise), By End Use, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/healthcare-api-market

Factors such as technological advancements in health care solutions and the co-existence of healthcare and IT services are expected to continue driving the adoption of healthcare API. It allows patients to get well acquainted with the doctors or specialist's details and appointment suggestions. Increasing focus towards the adoption of the Internet of Things (IoT) and Remote Patient Monitoring (RPM) is expected to drive the market growth in the forthcoming years.

Industry players are trying to develop a fully integrated API solution to gain market penetration. Moreover, the COVID-19 pandemic has increased the need for remote access to patients' data which is expected to boost the growth of the market. For instance, in May 2020, Change Healthcare launched a suite of solutions such as industry-standard APIs, hardware bundle, and software solutions in order to help telemedicine providers to deploy virtual care services.

Grand View Research has segmented the global healthcare API market on the basis of services, deployment model, end-use, and region:

    --  Healthcare API Services Outlook (Revenue, USD Million, 2016 - 2027)
        --  EHR Access
        --  Appointments
        --  Remote Patient Monitoring
        --  Payment
        --  Wearable Medical Device
    --  Healthcare API Deployment Model Outlook (Revenue, USD Million, 2016 -
        2027)
        --  Cloud-based
        --  On-Premise
    --  Healthcare API End-use Outlook (Revenue, USD Million, 2016 - 2027)
        --  Healthcare Payers
        --  Providers
        --  Patients
        --  Vendors
    --  Healthcare API Regional Outlook (Revenue, USD Million, 2016 - 2027)
        --  North America
            --  The U.S.
            --  Canada
        --  Europe
            --  The U.K.
            --  Germany
            --  France
            --  Italy
            --  Spain
        --  Asia Pacific
            --  Japan
            --  China
            --  India
            --  Australia
        --  Latin America
            --  Brazil
            --  Mexico
        --  The Middle East & Africa
            --  South Africa
            --  Saudi Arabia

List of Key Players of Healthcare API Market

    --  Allscripts Healthcare Solutions Inc.
    --  Athenahealth
    --  Cerner Corporation
    --  Epic
    --  Microsoft Corporation
    --  Apple, Inc
    --  Google LLC
    --  Sansoro Health
    --  eClinical Works LLC
    --  Practice Fusion, Inc.
    --  MuleSoft, Inc.

Find more research reports on Healthcare IT Industry, by Grand View Research:

    --  Medical Alert Systems Market - Rise in the geriatric population,
        improvement in healthcare infrastructure, and increasing preference for
        aging in place are some of the factors driving the medical alert systems
        market.
    --  Computerized Physician Order Entry Market - The growing incidence of
        medication errors at the ordering or transcribing stage is one of the
        significant drivers influencing the growth of the CPOE market.
    --  Healthcare Mobility Solutions Market - The industry is primarily driven
        by the increasing demand for quality care delivery in the healthcare
        system. These solutions offer benefits such as enhanced clinical
        collaborations and improved health outcomes, which are anticipated to
        boost usage over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.