Healthcare API Market was pegged at US$162.4 mn in 2015 and expanding at a 4.2% CAGR, the market revenue is poised to reach US$234.2 mn by 2024, rise in the acceptance and adoption of healthcare API solutions by doctors, patients, and payers is expected to benefit the market
The healthcare API market is expected to witness robust growth in the near future as healthcare continues
to adopt cloud solutions for better patient care, amidst increasing push by governments. The global
healthcare API market is also witnessing a growing demand for cloud-based APIs which make it easier to
integrate data, and provide critical access to patients for interaction during critical emergencies.
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The rising demand for APIs and large investment of tech giants like Amazon, Microsoft, and Apple in the
arena are expected to create significant opportunities for players in the healthcare API market. Despite
the major areas covered by tech giants, the APIs remain open to the creation of new apps which are
patient centric and improve the quality of care for patients significantly. The growing push by programs
like MediCaid for healthcare operators to move to the cloud are also expected to drive growth of the
healthcare API market.
Higher Patient Satisfaction and Better Outcomes to Drive Growth
Programs like MediCaid have tied reimbursement of healthcare agencies to improvements in quality care.
Among various guidelines issued for improving the quality care, increased emphasis on digital technology,
more interaction between patient and doctors, and growth of services like data management are some
of them. The data management services also provides myriad of benefits to healthcare operators.
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Data management makes it easier for healthcare professionals to access records, assess them at free time,
and pass them on in case of change in caretaker. Moreover, one of the biggest cost plaguing the healthcare
sector is administration costs. With the inclusion of digital platforms, this cost is expected to reduce
considerable while simultane