Adoption of information technology solutions has proved its prowess in streamlining many industries in the past few years. One of the industries to have recently inched closer to a technological revolution – the healthcare industry – is also rapidly recognizing the benefits of technological intervention in making services more responsive for its consumers. The usage of the mobile platform and application programming interfaces (APIs) is soon becoming one of the most sought-after models for delivery of services in the industry. Improvement in quality of services provided, rising patient satisfaction, and a plethora of potential applications across numerous healthcare segments are some of the factors to have increased focus on APIs.
The market for healthcare APIs is treading along a healthy growth path and in the next few years, the market is expected to gain a bigger role in the healthcare industry. Healthcare API solutions are soon expected to become a common technological ground that could connect and bring more transparency between the three most important stakeholders of the healthcare scene – care providers, patients, and payers. The global healthcare API market is expected to exhibit a healthy 4.2% CAGR from 2016 through 2024. If the numbers hold true, the market, which valued at US$162.4 mn in 2015, is expected to rise to US$234.2 mn by 2024.
Care Providers to Emerge as Top-ranking End-use Segment
Of the key stakeholders of the global healthcare API solutions market – healthcare providers, healthcare payers, and patients, the segment of healthcare providers is expected to emerge as the leading end user of the global healthcare API market in the near future. The segment will lead chiefly owing to the rapidly rising number of laboratories and hospitals opting for automated solutions for managing non-core activities such as order tracking and scheduling and booking patient appointments. Owing to the flexibility and ease with which appointments can be made with the help of simple APIs, appointment is expected to emerge as the most wanted feature in healthcare APIs in the next few years.
Emerging Economies to Bring in Most Promising Growth Opportunities
Presently, the technologically advanced healthcare infrastructure and the high population of mobile users in North America have placed the region at the forefront of global healthcare API market. The presence of a vast number of global market’s prominent vendors also bolster the growth prospects of the regional market, allowing it to retain the top spot.
The global healthcare API market, however, is expected to see the most promising growth across emerging economies in the Asia Pacific in the near future. Although owing to the limited progress that the region’s public IT infrastructure have witnessed as compared to the developed North America or Europe, the market for healthcare API is expected to see significant gains in Asia Pacific in the long term. A mounting population of mobile users and rising awareness regarding benefits of healthcare APIs, especially for patients residing in remote areas, have started to increase the demand for a variety of healthcare APIs in the region.
Browse Full Global Healthcare API Market Report with TOC:http://www.mrrse.com/healthcare-api-market
Owing to the positive growth prospects of the healthcare API market in Asia Pacific, an increasing number of vendors in the global market are starting to foray in a number of emerging countries in Asia Pacific. It is estimated the healthcare API market in Asia Pacific will see more demand for wearable medical devices and electronic health record services.