According to Nova one advisor, the global healthcare API market size was valued at USD 219.45 million in 2022 and is predicted to be worth USD 309.96 million by 2032, with a CAGR of 3.60% from 2023 to 2032.
Key Takeaways:
Increasing adoption of Application Programming Interfaces (API) integrated Electronic Health Records (EHRs) that provide simplicity and ease of healthcare data accessibility is driving the market growth. Moreover, improved patient outcomes increased patient satisfaction, and development in the care quality are propelling the market expansion. Furthermore, increasing the need for healthcare integration is driving demand.
Integration of new workflows between the providers and the payers, the apps which can access data from EHRs, wearables, and their services, seamless transition of care are some of the major factors increasing the adoption of healthcare API. Internal standardization for various products or workflows will help to easily access the patient’s data. For instance, in June 2018 Apple health launched healthcare API from where developers can access EHR data of patients from more than 500 hospitals in the U.S.
The COVID-19 pandemic has resulted in social distancing and lockdowns. This has led to a shortage of manpower as a consequence of imposed shutdowns. This has necessitated the implementation of a healthcare application programming interface to ease the healthcare operations in the hospitals and other organizations. For instance, in April 2020, Google launched cloud healthcare API v1 in order to protect patient privacy and also to make it interoperable for COVID-19 research purposes.
An increase in funding and growing initiatives from the industry players to develop a completely standardized API is propelling growth. For instance, in April 2019, Redox raised around USD 33 million in funding to develop a cloud-based API. Increasing demand for telemedicine and digital health solutions post COVID-19 is further increasing the need for integrated healthcare API which is expected to boost the market in the forthcoming years.
Report Scope of the Healthcare API Market
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 219.45 Million |
|
Market Size by 2032 |
USD 309.96 Million |
|
Growth Rate from 2023 to 2032 |
CAGR of 3.60% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2032 |
|
Largest Market |
North America |
|
Fastest Growing Market |
Europe |
|
Segments Covered |
By Services, By Deployment Model, and By End-Use |
|
Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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 32% in 2022. 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 81.50% in 2022. 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 48.6% in 2022. 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.
By Region Insights
Based on region, North America dominates the market with a revenue share of 36.5% in 2022. Dueowing to high rates of digital literacy rate and supportive policies for the use of healthcare APIs. Moreover, another significant growth-promoting aspect for the industry is the existence of established healthcare infrastructure with integrated patient EHR. Greater adoption by large HCOs in the US is expected to increase regional demand.
Due to its existing healthcare infrastructure, the emergence of the Internet of Things (IoT), and other associated technologies, Europe is expected to witness the highest CAGR throughout the projection period. A regulation on data privacy and protection known as the General Data Protection Regulation (GDPR) became effective in the European Union on May 25th, 2018. The rule, which handles the transfer of personal data outside of the European Union, is stricter than HIPAA in the United States and is expected to lead to a rise in the use of healthcare API.
Some of the prominent players in the Healthcare API Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Healthcare API market.
By Service
By Deployment Model
By End-Use
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Healthcare API Market
5.1. COVID-19 Landscape: Healthcare API Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Healthcare API Market, By Service
8.1. Healthcare API Market, by Service, 2022-2032
8.1.1 Remote Patient Monitoring
8.1.1.1. Market Revenue and Forecast (2022-2032)
8.1.2. Payment
8.1.2.1. Market Revenue and Forecast (2022-2032)
8.1.3. EHR Access
8.1.3.1. Market Revenue and Forecast (2022-2032)
8.1.4. Appointments
8.1.4.1. Market Revenue and Forecast (2022-2032)
8.1.5. Wearable Medical Devices
8.1.5.1. Market Revenue and Forecast (2022-2032)
Chapter 9. Global Healthcare API Market, By Deployment Model
9.1. Healthcare API Market, by Deployment Model, 2022-2032
9.1.1. Cloud-Based API
9.1.1.1. Market Revenue and Forecast (2022-2032)
9.1.2. On Premise-Based API
9.1.2.1. Market Revenue and Forecast (2022-2032)
Chapter 10. Global Healthcare API Market, By End-Use
10.1. Healthcare API Market, by End-Use, 2022-2032
10.1.1. Patients
10.1.1.1. Market Revenue and Forecast (2022-2032)
10.1.2. Healthcare Providers
10.1.2.1. Market Revenue and Forecast (2022-2032)
10.1.3. Healthcare Payers
10.1.3.1. Market Revenue and Forecast (2022-2032)
10.1.4. Vendors
10.1.4.1. Market Revenue and Forecast (2022-2032)
Chapter 11. Global Healthcare API Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Service (2022-2032)
11.1.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.1.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.1.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.1.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.1.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.1.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Service (2022-2032)
11.2.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.2.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.2.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.2.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.2.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.2.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Service (2022-2032)
11.2.6.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.2.6.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Service (2022-2032)
11.2.7.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.2.7.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Service (2022-2032)
11.3.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.3.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.3.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.3.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.3.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.3.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Service (2022-2032)
11.3.6.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.3.6.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Service (2022-2032)
11.3.7.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.3.7.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.4.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.4.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.4.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.4.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Service (2022-2032)
11.4.6.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.4.6.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Service (2022-2032)
11.4.7.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.4.7.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Service (2022-2032)
11.5.4.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.5.4.3. Market Revenue and Forecast, by End-Use (2022-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Service (2022-2032)
11.5.5.2. Market Revenue and Forecast, by Deployment Model (2022-2032)
11.5.5.3. Market Revenue and Forecast, by End-Use (2022-2032)
Chapter 12. Company Profiles
12.1. Apple, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. General Electric
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. athenahealth, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Oracle
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Epic Systems Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. eClinicalWorks
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Allscripts Healthcare, LLC
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Greenway Health, LLC
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Practice Fusion, Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Salesforce, Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers