Global Healthcare API Market By Services (Remote Patient Monitoring, Appointments, EHR Access, Wearable Medical Device, and Payment), By End User (Providers, Healthcare Payers, Vendors and Patients), By Deployment (Cloud-based and On-premise), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Healthcare API Market size is expected to reach $286.8 Million by 2026, rising at a market growth of 6.3% CAGR during the forecast period. Patient-centric healthcare is a rising trend in the field of healthcare delivery, which has ensued better results, higher patient fulfillment, and improvement in care quality. Development of a large group of services, for example, remote patient checking and wearable clinical devices, has expanded the interest for healthcare API solutions, which help patients to get insights into the experience, expertise, and timing of a doctor before consulting them. Furthermore, patients can follow their appointment sign and visit just when it is necessary.
Healthcare API Market Size, By End Use, 2020- 2026
The steady ascent in the acknowledgment and adoption of healthcare Application Programming Interfaces (API) arrangements by specialists, patients, and payers is anticipated to profit the worldwide market during the forecast period. The worldwide healthcare API market is driven by the increment in acceptance of API-incorporated electronic health records (EHRs), which ensure ease of data availability. Moreover, persistent upgradations and ascend in initiatives by EHRs merchants and healthcare IT businesses fuel market development. However, loss and control of significant patient data and worries identified with security breaches limit the market development. Besides, the constant rise in government initiatives to relocate from the conventional method to technologically developed healthcare frameworks and IT-empowered solutions and services is anticipated to give various chances to market improvement.
Healthcare API Market Share, By Services, 2019
The COVID-19 pandemic has ensued social distancing and lockdown restrictions. This has prompted a shortage of lack of labor as a result of forced shutdowns. This has required the execution of a healthcare application programming interface to facilitate the healthcare services tasks in the hospitals and different associations. For example, in April 2020, Google introduced cloud healthcare API v1 to secure patient privacy and to make it interoperable for COVID-19 research purposes.
Free Valuable Insights: Global Healthcare API Market to reach a market size of $286.8 million by 2026
Based on Services, the market is segmented into Remote Patient Monitoring, Appointments, EHR Access, Wearable Medical Device, and Payment. Based on End User, the market is segmented into Providers, Healthcare Payers, Vendors and Patients. Based on Deployment, the market is segmented into Cloud-based and On-premise. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
KBV Cardinal Matrix - Healthcare API Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Microsoft Corporation are the forerunners in the Healthcare Application Programming Interfaces (API) Market. Companies such as AllScripts Healthcare Solutions, Inc., Cerner Corporation, and General Electric (GE) Co., Epic Systems Corporation, Practo Technologies Pvt. Ltd., Greenway Health LLC, Salesforce.com, Inc., and eClinicalWorks LLC are some of the key innovators in the market.
|Market size value in 2019||USD 186.9 Million|
|Market size forecast in 2026||USD 286.8 Million|
|Historical period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 6.3% from 2020 to 2026|
|Number of Pages||229|
|Number of Tables||370|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Analysis, Companies Strategic Developments, Company Profiling|
|Segments covered||Services, End User, Deployment, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc. (MuleSoft, LLC), Microsoft Corporation, Apple, Inc., General Electric (GE) Co. (GE Healthcare), Cerner Corporation, Epic Systems Corporation, eClinicalWorks LLC, AllScripts Healthcare Solutions, Inc., Greenway Health LLC and Practo Technologies Pvt. Ltd.
Recent Strategies Deployed in Healthcare Application Programming Interfaces (API) Market
» Partnerships, Collaborations, and Agreements:
- Aug-2020: Cerner partnered with Amazon, a multinational technology company. The partnership was focused on making it easier for medical providers to obtain patient-generated health data from wearable technology. The partnership was focused on Amazon Halo, a new wearable from Amazon that can provide key patient metrics like activity levels, sleep quality, and body fat percentage.
- Jul-2020: Microsoft Corporation extended its partnership with Allscripts Healthcare, a healthcare company. The expansion enabled the expanded development and delivery of cloud-based health IT solutions. The expansion would support Allscripts’ cloud-based Sunrise electronic health record, making Microsoft the cloud provider for the solution and opening up co-innovation opportunities to help transform healthcare with smarter, more scalable technology.
- Jul-2020: Epic Systems signed an agreement with The ACT Government for providing the territory’s digital health record platform at a cost of $114.1 million. Under this agreement, Epic software would be deployed across Canberra’s entire public health system, including public hospitals and community health centers. The platform will introduce a single health record that captures all clinical interactions with patients in one central repository for each of the territory’s 400,000-strong population.
- Jun-2020: Cerner together with American Hospital Dubai opened the first artificial intelligence (AI) research center. The center would leverage electronic health records (EHR) to create centers of excellence for oncology, infectious diseases, and bariatric medicine. The AI research center will use big data analytics and machine learning capabilities to support data-based clinical research activities and data-drive operational improvement projects.
- Mar-2020: MuleSoft collaborated with Bridge Connector, a technology company offering data-driven workflow automation to solve health IT interoperability challenges. Following the collaboration, the latter company launched a new Salesforce AppExchange solution. Bridge Connector’s no-code health care interoperability solution enabled organizations to quickly and easily integrate disparate health care applications such as electronic health record (EHR) and customer relationship management (CRM) solutions, patient engagement platforms, and more, utilizing its library of connectors.
- Feb-2020: Epic Systems teamed up with Atrium Health, a healthcare company. The latter company selected Epic as the standard, uniform platform for its electronic health records. Atrium implemented Epic for its clinical systems across three states. This would increase efficiencies, reduce complexity, and improve physician satisfaction. A single system aimed to allow the complete records of patients in any location to be easily accessed by clinicians consulting on cases hundreds of miles away.
- Oct-2019: AllScripts collaborated with Northwell Health, New York’s largest health system. Following this partnership, the companies would develop a next-generation EHR. This next-generation EHR would be cloud-based, voice-enabled, and artificially intelligence-based. It would be designed and tested by Northwell’s clinicians, technology experts, and administrators with the aim of it being deployed systemwide. The product would optimize the patients’ experience and enhance healthcare delivery to improve the experience for both clinicians and patients alike.
- Aug-2019: Apple came into partnership with Allscripts, the major electronic health records (EHR) vendor. The partnership enabled Apple’s Health Records software to interface with Allscripts’ platform and devices so that the Apple users can view their healthcare data that comes from Allscripts in one place in the iOS Health app even if it comes from multiple healthcare providers.
- Aug-2019: MuleSoft, a Salesforce company announced its collaboration with Veeva Systems. Veeva launched MuleSoft Connector for Veeva Vault. Jointly, the companies were aimed to make it faster and easier for life sciences companies to connect Veeva Vault applications with other enterprise systems. This product integration was built upon Veeva’s track record of innovation for joint Salesforce customers.
- Jun-2019: Practo signed an MOU with the Academy of Family Physicians India (AFPI), an independent academic discipline and the national association of family physicians. The companies were aimed to work collaboratively towards greater understanding and adoption of digital healthcare technology. Practo served as AFPI's digital healthcare partner and together the two institutions have been working on the areas of continuous learning and development in digital healthcare for all physicians associated with AFPI.
- Mar-2019: AllScripts announced that it is partnering with Ephraim McDowell Health. The partnership was aimed at enhancing its patient portal tool, FollowMyHealth. The enhancement efforts were focused on developing a more holistic patient engagement technology experience. While the current patient portal model is useful for creating patient data access and facilitating secure direct messages with patients and providers, Allscripts and Ephraim McDowell Health plan to create an all-encompassing patient experience.
- Feb-2019: Microsoft came into collaboration with Redox, a company that develops an information technology platform. The collaboration was focused on secure, bidirectional data exchange with electronic health record (EHR) software at provider organizations using the FHIR (Fast Healthcare Interoperability Resources) standard. As a result, clinicians and caregivers can easily communicate patient data on the Microsoft Teams platform and record information at the EHR level.
» Acquisition and Mergers:
- May-2018: AllScripts signed an agreement to acquire HealthGrid Holding Co., the developer of a mobile patient engagement platform called CareNotify. The acquisition would strengthen the company's FollowMyHealth platform and advance its EHR-agnostic approach.
- Jan-2017: Practo Technologies acquired healthcare startup, Qikwell Technologies. The acquisition helped the company in maintaining a leadership position in the online healthcare market.
- Mar-2017: GE Healthcare acquired Monica Healthcare, a monitoring technology company for expanding its Maternal-Infant Care business. This acquisition enhanced GE Healthcare’s mobile and digital offerings by providing clinicians and patients around the world with more innovative solutions for labor, delivery, and home care.
» Product Launches and Product Expansions:
- Apr-2020: GE Healthcare introduced a new software solution, Mural Virtual Care Solution. The solution supports clinicians and health systems in the treatment of COVID-19 patients. The solution was designed to give hospitals a broad view across their ventilated patient population and help identify patients at risk of deterioration, to the highly secure and trusted Microsoft Azure cloud platform.
- Apr-2020: Greenway Health introduced a new Greenway Revenue Services offering, GRS Express, to ensure practice cash flow during the COVID-19 pandemic. This is a simplified solution for revenue cycle management (RCM) that can be deployed in as little as two weeks. This rapid response solution was designed to assist practices as they manage critical areas of the revenue cycle, providing immediate relief and improved timely revenue collections.
Scope of the Healthcare API Market Analysis
- Remote Patient Monitoring
- EHR Access
- Wearable Medical Device
- Healthcare Payers
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Salesforce.com, Inc. (MuleSoft, LLC)
- Microsoft Corporation
- Apple, Inc.
- General Electric (GE) Co. (GE Healthcare)
- Cerner Corporation
- Epic Systems Corporation
- eClinicalWorks LLC
- AllScripts Healthcare Solutions, Inc.
- Greenway Health LLC
- Practo Technologies Pvt. Ltd.
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Healthcare API Market Related Reports:
How valuable the healthcare API market be in the future?
The healthcare API market is projected to reach USD 286.8 million by 2026.
What are the key factors that drive healthcare API industry?
There are several reason that cause high demand of this market one of them is increasing adoption and investment in healthcare sector.
What are the major top companies in the competitive landscape?
Salesforce.com, Inc. (MuleSoft, LLC), Microsoft Corporation, Apple, Inc., General Electric (GE) Co. (GE Healthcare), Cerner Corporation, Epic Systems Corporation, eClinicalWorks LLC, AllScripts Healthcare Solutions, Inc., Greenway Health LLC and Practo Technologies Pvt. Ltd.
Which segment shows largest share of the healthcare API market in 2019?
The cloud-based API carried the largest share of market in 2019.
Which region dominated the healthcare API market in 2019?
The worldwide market for healthcare API is dominated by North America. The region has risen as the key income generator on account of the presence of numerous key players.