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Healthcare API Market Key Vendors, Regional Analysis, Key Players and Competitive Landscape Forecasts by 2027

09-21-2022 07:01 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fairfield Market Research

Healthcare API Market Key Vendors, Regional Analysis, Key

Of late, the healthcare sector has been making seismic shifts toward digitalization. This is mainly attributed to the augmentation of automated devices and enhanced outcomes through advanced data analytics. COVID 19 outbreak has further accelerated the shift toward digitally advanced healthcare models. As a result, healthcare APIs with electronic health records EHR are playing a key role in simplifying data accessibility and enhancing operational efficiency. This is propelling the healthcare API market towards a sound growth trajectory. An upsurge in integration of healthcare APIs with EHR are radically changing the data transfer models that ranges from mobile health applications, remote patient monitoring systems, and wearable devices. Such a business landscape has created tailwinds for the global healthcare API market growth.

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Health Tracking APIs to Influence Market Growth

An increase in the number of health-conscious individuals has resulted in the growing demand for Health tracking APIs. Health tracking APIs can be used for tracking users' exercise, heartbeats, and other health related information. These APIs have found their application in wearable devices such as smartwatches. These devices are also gaining popularity among the patient suffering from diseases including diabetes, cancer, and obesity. Such API platforms are also beneficial in connecting with various stakeholders in this value chain, including health insurance providers and connected healthcare service providers. Such broad ranging applications of health tracking APIs are significantly contributing to the overall healthcare API market growth.

FHIR Incredible Features to Aid Healthcare API Market Growth

Fast healthcare interoperability resources (FHIR) are developed to overcome the challenge of data sharing and interoperability. FHIR leverages the exchange of data as resources which eliminates the requirement to alter the data template of each IT healthcare system. This facilitates swift collection of data exchanges from diversified sources under one uniform health information platform. As a result, the data from different health systems can be effectively shared with greater accuracy and readability. Furthermore, it also facilitates a wide range of transactions across various healthcare IT systems around the world. FHIR also specifies the way data sharing should be done in order to ensure connectivity across all involved parties. The growing adoption of FHIR is projected to create sound opportunities for the holistic growth of healthcare API market.

North America to Sustain Dominance Market Growth Owing to Rising Healthcare API Providers

North America is set to garner a largest revenue share in the global healthcare API market. Factors such as the rising number of healthcare API users and faster deployment of healthcare applications for EHR are influencing regional market growth. Increasing awareness about digital healthcare services is further fuelling the regional market growth. With more healthcare API service providers venturing into the market, the healthcare API market in region is set to demonstrate a robust growth during forecast period. Europe holds second position in the global healthcare API market, followed by Asia Pacific as emerging market.

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Prominent Market Players

Some of the major players in the healthcare API market include Allscripts Healthcare Solutions Inc., Athenahealth, Cerner Corporation, Practice Fusion, Inc. MuleSoft Inc., Greenway Health LLC, Apple Inc., Microsoft Corporation, GE Company, Google Inc., and Practo Technologies Pvt Ltd.

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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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