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.
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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/healthcare-api-market
Healthcare API
Market Report Highlights
- 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
Request a Sample Copy @ https://www.grandviewresearch.com/industry-analysis/healthcare-api-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment