The leading players in the global healthcare API market, namely Mulesoft Inc.,
Apple Inc., Microsoft Corporation, GE Healthcare, Epic Systems Corporation, and
Allscripts Healthcare Solutions Inc. held a cumulative share of approximately
67% in the global healthcare API market revenue in 2015. Transparency Market
Research has observed that these players have been focused on creating value
with acquisitions. Strengthening their presence in the healthcare API market
and at the same time, offering innovative solutions to cater to the needs of
their customers has been the key growth strategy for most companies.
“Large players have also been partnering with various healthcare
facilities and healthcare technology providers to reach out to more customers,”
the lead author of the study finds. For instance, in June 2014, Apple Inc. made
its first big move in mobile health by partnering with market-leading hospital
software firm Epic Systems and renowned healthcare provider Mayo Clinic to
develop HealthKit, a health app platform.
Browse the Press Release:http://www.transparencymarketresearch.com/pressrelease/healthcare-api-market.htm
Concerns over Data
Privacy and Security Threaten Global Growth
An increase in the
initiatives by electronic health record (EHR) vendors and healthcare IT
startups has resulted in an immense growth in healthcare IT solutions,
including application programming interfaces. The adoption of API-integrated
EHR has risen rapidly in the recent past thanks to the ease of data
accessibility and this, in turn, has boosted the market for healthcare API.
Leading vendors such
as GE Healthcare, Mulesoft, Practise Fusion, and Practo Technologies have been
focused on making sure their solutions are compatible with the latest
healthcare apps. This is also projected to benefit the healthcare API market.
“Considering that the
need for frequent upgrades in the overall healthcare API market will arise in
the near future, the impact of this driver will remain moderate in the coming
years,” the analyst predicts.
However, concerns
regarding privacy breaches and the loss as well as manipulation of important
patient information pose a key challenge for the growth of the healthcare API
market. “Open-source APIs are increasingly vulnerable to cyber-attacks and
considering that the usage of APIs cannot be restrained, the privacy and
security of patients becomes a major issue,” the author of the study states.
Developers have, therefore, been focused on eliminating the risk of data theft
by developing more secure platforms.
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North America Key Revenue Contributor in
Global Healthcare API Market
The global revenue of
the healthcare API market stood at US$162.4 mn in 2015 and is expected to reach
US$234.2 mn by 2024 expanding at a 4.2% CAGR therein. The appointment segment
led the global healthcare API market by services, rising from a value of
US$43.1 mn in 2015 to US$62.9 mn by the end of the forecast period. The segment
is also anticipated to expand at the highest CAGR from 2016 to 2024.
By deployment model,
on-premise healthcare API solutions emerged as the leading segment while
cloud-based API solutions are likely to grow at the fastest pace during the
forecast period. Healthcare providers are the leading end users of healthcare
API services and the segment is projected to register the highest CAGR from
2016 to 2024. While North America emerged as the key revenue contributor in the
global healthcare API market, Asia Pacific is likely to be the fastest growing
regional segment.
Browse the Regional Analysis:
http://www.europlat.org/healthcare-application-programming-interface-api-market.htm
This review is based
on the findings of a TMR report titled “Healthcare API Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
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