Healthcare API Market Analysts Expect Robust Growth in 2027: Greenway Health LLC, Practice Fusion, Inc. MuleSoft Inc., and Practo Technologies Pvt Ltd.

Application programming interfaces (APIs), valued by a sizeable patient population worldwide, represent a healthy growing market, especially with respect to the healthcare industry. The global healthcare API market that surpassed the revenue worth US$210 Mn in 2019 is likely to demonstrate more than 6% growth toward the end of 2027.

Fairfield Market Research in its latest published report indicates a rapidly growing demand for healthcare API from both the healthcare service providers and consumers. Although the consumer segment registers remarkable usage of API, the payers have recently been outweighing both health tech companies, and consumers in terms of API usage. The report clearly attributes this to rising API deployment across healthcare companies.

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COVID-19 Pandemic Plays out as a Booster to Market Growth

The market is all set to rise at a promising pace as there has been a growing integration of electronic health records (EHRs) with API recently with the intent of facilitating the accessibility of healthcare data. The report marks a growing preference for the convenience offered by upward integration of healthcare API with EHR while transferring data from the latter to the various mobile health apps, remote patient monitoring systems, as well as wearable devices. Moreover, the global COVID-19 pandemic that compelled facilities to embrace digitalisation has also been a major booster to market expansion over the recent past.

Opportunities to Appear for API Platforms

Innovative applications specifically segmented for the various patient groups such as diabetic, cancer, and those living with obesity, or any other chronic condition are likely to hold a major influence on market performance. Endless possibilities are likely to spring up for the API platforms that will aid in connecting all the stakeholders along this value chain. The list includes connected healthcare service providers, health insurance providers, and others that are involved in mobile applications. This will also be complementing the growth of the healthcare API market.

The global healthcare API market is segmented as below:

By Service
• EHR Access
• Appointments
• Remote Patient Monitoring
• Payment
• Wearable Medical Device

By Deployment Model
• Cloud-based
• On-premise

By End-User
• Healthcare Payers
• Providers
• Patients
• Vendors

By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Growing Adoption of FHIR to Favour Healthcare API Market Expansion

Increasing use of EHR, mobile data, cloud storage data, and wearable devices across health systems further generates demand for seamless information sharing. Fast healthcare interoperability resources (FHIR) serve to facilitate data exchanges from various sources under a single uniform health information platform. FHIR thus enables sharing of custom templates from various health systems with the highest readability, and accuracy. The resultant increase in transactions across the healthcare IT systems is thus expected to push the growth prospects of the healthcare API market worldwide.

Healthcare API Market - Global Competition Landscape

A few of the significant players steering the competition in the global healthcare API market would be profiled in detail, in the report. Some of the companies that would be subject to profiling and analysis, include Apple Inc., Microsoft Corporation, GE Company, Google Inc., Cerner Corporation, Allscripts Healthcare Solutions Inc., Athenahealth (acquired by Hellman & Friedman and Bain Capital in Feb 2022), Greenway Health LLC, Practice Fusion, Inc., Practo Technologies Pvt Ltd., and MuleSoft Inc.

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North America's Dominance Intact, Asia Pacific Turns Lucrative

The largest revenue contributor to the global market, North America will continue to be the top market with the largest healthcare API user base, especially in the US. Moreover, the market here will benefit largely from faster deployment of healthcare applications for EHR, increasing awareness about digital healthcare, and a large number of API launches and services. Increasing healthcare API adoption by a considerably large patient population is well-complemented by the consistently increasing availability of healthcare API service providers across the region.

Europe will follow, whereas the Asian markets are likely to reflect the maximum growth potential on the back of an exploding mobile user base, and an increasing inclination toward adoption of healthcare API by the public, as well as healthcare service providers.

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