Market Overview
The Global Healthcare API Market is expected to reach a value of
USD 247.1 million by the end of 2024, and it is further anticipated to reach a market value of
USD 343.8 million by 2033 at a
CAGR of 3.7%.
Healthcare APIs support smoother data exchange between information systems, enabling instant access to patient coverage and allowing updates to medical records. Before EHR systems, interoperability depended on phone calls & fax machines. However, with multiple EHR systems in use, patient data often becomes fragmented. Advanced healthcare APIs are critical for better care coordination and achieving overall patient records important for value-based care models.
Key Takeaways
- The Global Healthcare API Market is expected to grow by 96.7 million, at a CAGR of 3.7% during the forecasted period.
- By Deployment Mode, the cloud-based API segment is expected to lead in 2024 & is anticipated to dominate throughout the forecasted period.
- By Service, the EHR access is expected to have a lead throughout the forecasted period.
- By End Use, healthcare providers are expected to be the dominant driver of the growth of the market in forecasted years.
- North America is expected to hold a 37.6% share of revenue in the Global Healthcare API Market in 2024.
- Some of the use cases of Healthcare API include Patient Data Access, Appointment Scheduling, and more.
Use Cases
- Patient Data Access: The healthcare API allows authorized healthcare providers to securely access & retrieve patient records, like medical history, prescriptions, lab results, and treatment plans, which allows smooth information exchange between different healthcare systems and enhances patient care coordination.
- Appointment Scheduling: Integrating the API enables patients to schedule appointments with healthcare providers directly through compatible applications or portals, which streamlines the appointment booking process, minimizes wait times, and improves patient satisfaction by providing convenient scheduling options.
- Telemedicine Consultations: With the healthcare API, telemedicine platforms can integrate on-spot video conferencing & messaging functionalities, allowing remote consultations between patients & healthcare professionals, which expands access to care, mainly for patients in rural or underserved areas, while maintaining security & compliance with healthcare regulations.
- Health Monitoring and Alerts: By integrating wearable devices & health monitoring tools with the API, healthcare providers can get real-time data on patients' vital signs, activity levels, & adherence to treatment plans. Automated alerts can be generated for abnormal readings or missed medication doses, allowing timely interventions and proactive healthcare management.
Market Dynamic
The healthcare API market is expected to grow, driven by ongoing technical development, increasing the demand for healthcare integration, and a rise in activity from electronic health record (EHR) vendors & healthcare IT start-ups. The usage of APIs alongside EHR systems supports streamlined access to health data, leading to low cost, improved medication supply chain management, and better accessibility to test data for medical procedures, which results in more effective administration of healthcare data, highly boosting sector efficiency.
However, challenges like a shortage of skilled professionals & concerns over data security pose restraints to market expansion. Inadequate IT infrastructure, lack of important API tools, and poor network connectivity also hinder growth. Further, the underdeveloped public IT infrastructure in emerging economies acts a barrier to market development.
Research Scope and Analysis
By Deployment Mode
The healthcare API market can be classified based on deployment mode into cloud-based API and on premise API. In 2024, cloud-based API is anticipated to dominate the market share, which is driven by the availability of free storage space for effectively organizing patient & hospital data, accessible during important situations by healthcare providers & caregivers.
Further, on premise healthcare APIs are anticipated to maintain a major revenue share due to their inherent advantages, like better data privacy and security, which ensures low risk of data breaches as organizations retain complete control over their healthcare software. In addition, these solutions provide easy software installation & the ability to use stored data for future reprocessing, further contributing to their appeal in the market landscape.
By Service
The healthcare API market's services are categorized into EHR access, appointments, payment, remote patient monitoring, and wearable medical devices. EHR access is expected to lead the market in 2024. APIs facilitate smooth integration of EHR data with other platforms, improving data exchange with third parties. In addition, EHR vendors are largely incorporating APIs into their platforms to deliver value-based patient care, driving adoption.
Further, the remote patient monitoring segment is forecasted to experience fast growth, mainly due to increase in interest during the COVID-19 pandemic. With a focus on minimizing contamination risks, healthcare providers are adopting connected health solutions & remote patient monitoring, often using API-enabled patient engagement platforms. These platforms use past medical records to provide personalized treatment options and guidance, catering to changing healthcare needs efficiently.
By End Use
The healthcare providers segment is expected to come out as the top revenue contributor in 2024, as it is further divided into clinics, hospitals, and other distributing firms, which primarily use APIs to store critical medical records, patient information, healthcare data, & patient histories, making secure accessibility during emergencies. Further, the healthcare payers segment is anticipated to be a major growth during the analysis period.
Integrated APIs support quick access & scrutiny of important data for healthcare payers & caregivers through customized processes. APIs also streamline follow-up appointments &patient invoicing, smoothing administrative tasks. With secure access to patient
health information and billing details, payers can effectively manage these aspects without depending on unwanted phone calls or receptionists, improving operational efficiency within the healthcare ecosystem.
The Healthcare API Market Report is segmented on the basis of the following
By Deployment Model
- Cloud-Based API
- On Premise-Based API
By Service
- Remote Patient Monitoring
- Payment
- EHR Access
- Appointments
- Wearable Medical Devices
By End Use
- Patients
- Healthcare Providers
- Healthcare Payers
- Vendors
Regional Analysis
North America is expected to lead the healthcare API market, holding a significant revenue share of about 37.6% in 2024, which is driven by many factors, like supportive policies for healthcare API deployment & higher
digital literacy. In addition, the region benefits from an advanced healthcare infrastructure, having integrated electronic health records (EHR) systems. The growing adoption of healthcare APIs by major healthcare organizations in the US further enhances the regional demand.
Further, Europe is anticipated to experience higher growth during the forecast period, which is driven by the region's strong healthcare infrastructure and the launch of transformative technologies like the Internet of Things (IoT). With these developments, Europe is predicted to showcase rapid adoption and integration of healthcare APIs, creating a way for better efficiency & connectivity within the healthcare ecosystem.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the global healthcare API market, competition is strong among established tech giants & emerging players. Key players provide complete API solutions with smooth integration & advanced features, while newer entrants aim for specialized services customized to the healthcare sector, which drives innovation & efficiency, as companies compete for market share and look to meet the changing needs of healthcare providers & patients globally.
Some of the prominent players in the global Healthcare API Market are
- Apple
- eClinical Works
- Practice Fusion
- General Electric Company
- Greenway Health
- MuleSoft
- Salesforce
- IBM
- Cerner Corp
- Practo Technologies
- Other Key Players
Recent Developments
- In December 2023, Nvidia launched a new set of cloud-based APIs developed to speed up the creation & installation of specialized AI models in the medical imaging field. Further, the new offering is a cloud-native extension to Nvidia's Monai framework, which is its open-source framework for medical imaging AI.
- In May 2023, Suki announced the integration of its AI-powered voice assistant with Epic EHR software utilizing Epic’s ambient APIs. Suki Assistant supports clinicians in completing time-consuming administrative tasks by voice and also unveils the ability to create clinical notes from ambiently listening to a patient-clinician conversation.
- In April 2023, Google Cloud announced a new AI-enabled Claims Acceleration Suite that is effective for health insurance prior authorization & claims processing. The solution, supportive of the newly created Claims Data Activator, will allow health plans & providers to minimize administrative workload & costs by converting unstructured data into structured data, allowing experts to make faster, more informed decisions that enhance patient care.
- In April 2023, Lyniate, launched Rapid API Gateway, which is a purpose-built healthcare API gateway &manager developed to help health teams create & safeguard APIs, like Fast Healthcare Interoperability Resources (FHIR) based APIs like those needed by the CMS Interoperability & Patient Access Rule.
- In February 2023, Redox partnered to streamline healthcare data exchange, enabling quicker decision-making. Integrating health data from legacy systems into Google Cloud products improves patient care. Further, it would replicate its platform on Google Cloud, providing customers with complete products and services.
Report Details
| Report Characteristics |
| Market Size (2024) |
USD 247.1 Mn |
| Forecast Value (2033) |
USD 343.8 Mn |
| CAGR (2024-2033) |
3.7% |
| Historical Data |
2018 – 2023 |
| Forecast Data |
2024 – 2033 |
| Base Year |
2023 |
| Estimate Year |
2024 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Deployment Model (Cloud-Based API and On
Premise-Based API), By Service (Remote Patient
Monitoring, Payment, EHR Access, Appointments,
and Wearable Medical Devices), By End Use
(Patients, Healthcare Providers, Healthcare Payers,
and Vendors) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Apple, eClinical Works, Practice Fusion, General
Electric Company, Greenway Health, MuleSoft,
Salesforce, IBM, Cerner Corp, Practo Technologies,
and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Healthcare API Market size is estimated to have a value of USD 247.1 million in 2024 and is
expected to reach USD 343.8 million by the end of 2033.
North America is expected to have the largest market share in the Global Healthcare API Market with a
share of about 37.6% in 2024.
Some of the major key players in the Global Healthcare API Market are Apple, eClinical Works, Practice
Fusion, and many others.
The market is growing at a CAGR of 3.7 percent over the forecasted period.