The healthcare industry is constantly evolving, and introducing the best healthcare APIs (Application Programming Interfaces) has played a significant role in this progress. Undoubtedly, the pandemic has pushed efforts in digital transformation, and in our new remote environment, businesses are concentrating on how they can keep giving customers seamless digital experiences. Different kinds of APIs power the digital ecosystem to which we are now all connected, and they are widely acknowledged as the oil that fuels our digital world.
The APIs Market is Booming!!
The once-niche medical API technology is now widely accepted and seen as an essential component of the everyday digital environment. In fact, according to The Forrester Wave: API Management Solutions, Q3 2020 research, “APIs drive agility to optimize consumer experiences, develop dynamic digital ecosystems, achieve operational excellence, and construct platform business models by opening access to digital business capabilities.”
As a result, integration and security are now crucial components of any successful digital transformation strategy, and APIs are quickly emerging as the products of the twenty-first century. Simply said, APIs carry out two essential tasks:
- Patients are linked to data and services through medical APIs.
- API streamlines the procedure for connecting to your health institution’s ecosystem.
The API market is flourishing right now. According to Zion Market Research, Global API Management Market accounted for USD 2493.9 Million in 2020 and is expected to reach USD 6263.0 Million by 2028 growing at a CAGR of 11.3% from 2021 to 2028.
Healthcare Industry: The Growth of Healthcare APIs!
The health and wellness products market is one where medical APIs have experienced substantial growth. Wearable technology and health and wellness apps are promoting innovation in this area. There are several motivating factors here. A significant contributing factor has emerged as the strong trend toward better living and the rising use of wearable health monitors. According to IDC, which believes that this market is worth $50 billion, wearables have set the stage for the consumer internet of things.
Furthermore, gathering data is made simpler by the growth of intelligent health trackers, which have reached a global total of over 2.53 billion digital gadgets. Additionally, there is a growing obesity epidemic, and since the COVID-19 pandemic, many more individuals are conscious of their weight and its potential adverse effects on their health. The development of healthcare ecosystems to offer more significant and widespread access to healthcare has also been spurred by the use of health-tracking applications driven by COVID-19.
Healthcare payers and institutions must leverage medical APIs, particularly the Fast Healthcare Interoperability Resources (FIHR) standards, for Electronic Health Records (EHRs) and digital health applications to ensure successful interoperability.
Benefits of APIs For Healthcare Workers & Patients?
The healthcare industry is constantly evolving, with new technologies and techniques being developed to improve patient outcomes and increase efficiency. One of the critical technologies that are helping to drive this change is the use of medical APIs or application programming interfaces.
Sharing of Data Efficiently: One of the main ways that APIs are aiding the healthcare industry is by enabling the sharing of patient data among healthcare providers and organizations. Electronic health record (EHR) systems use APIs to securely and seamlessly share patient information, such as medical history, lab results, and prescription information, between healthcare providers. This allows healthcare providers to have a complete picture of a patient’s health, which can help to improve the quality of care they receive.
Telemedicine: Another area where medical APIs significantly impact is telemedicine. With the COVID-19 pandemic, telemedicine has become an increasingly important tool for providing patients with access to medical care. Telemedicine apps use APIs to integrate with EHR systems and other health-related apps, such as fitness trackers and medication reminders, to provide patients with more comprehensive care. This allows patients to receive medical care remotely, reducing the need for in-person visits and helping to prevent the spread of infectious diseases.
Helps Researchers: Medical researchers are also using the best healthcare APIs to access large datasets for studies and to develop new treatments. APIs allow researchers to easily access and analyze large amounts of data from various sources, such as EHR systems and medical device manufacturers. This can speed up the development of new treatments and improve the accuracy of research findings.
Help Gather Real-World Data: Pharmaceutical companies also use the best healthcare APIs to track their drugs’ effectiveness and identify potential side effects. By using APIs to access data from EHR systems and medical devices, pharmaceutical companies can gather real-world data on how their drugs are being used and their effects on patients. This can help identify potential side effects and adjust the drugs to improve their effectiveness.
To understand the healthcare API Market, refer to this blog –Healthcare API Market: Key Players Focus on Emerging Economies for Expansion.
Medical APIs play a crucial role in the healthcare industry by allowing different systems and apps to share data and work together more seamlessly. By improving the sharing of patient data and enabling telemedicine, APIs are helping to improve patient outcomes and streamline operations. With the continued growth of the healthcare industry and the increasing use of technology, we expect to see even more ways in which APIs will aid the healthcare industry.
DigitalAPICraft lets you create an ecosystem of connected healthcare APIs with advanced healthcare interoperability and adherence to regulations.