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The Healthcare CRM Market Size was valued at USD 17.77 billion in 2023 and is expected to reach USD 32.40 billion by 2031 and grow at a CAGR of 7.8% over the forecast period 2024-2031.
Healthcare Customer Relationship Management (CRM) is a system that aids healthcare businesses in having more effective workflow and better management of the patient care process. Technology employed in the healthcare CRM system includes collaborative system, cloud-based CRM, mobile CRM, social CRM, and predictive CRM. CRM for healthcare boosts service delivery effectiveness and communication. Patients' information is gathered from a variety of sources using the healthcare CRM. By using feedback forms, online forms, and services for various firms, it enhances sales and marketing efforts. By automating tasks like sending emails and texts and communicating test results, healthcare facilities can benefit from healthcare CRM technology.
Since many healthcare facilities are concentrating on direct marketing to build their businesses, the healthcare CRM market is predicted to experience a lucrative growth throughout the forecast period. Additionally, the development of the worldwide CRM market is anticipated to be hampered by the developing countries' limited or absent adoption of healthcare CRM.
DRIVERS
Gains from CRM Software
Increasing Attention to Patient Engagement
RESTRAINTS
Privacy and Data Security Issues
Implementing CRM is expensive and difficult.
OPPORTUNITIES
CRM using AI
Analytics for the future in CRM
CHALLENGES
Lacking healthcare professionals
The COVID-19 pandemic outbreak had a significant effect on medical facilities. An integrated solution was desperately needed to manage workflow and provide help and care to patients effectively around the globe. The IT sector of healthcare has been primarily impacted by the use of data, analytical, and digitalization technology. The COVID-19 epidemic has compelled market participants to concentrate on R&D for advancements and improvements in the Healthcare CRM industry.
VALUE CHAIN ANALYSIS
During the anticipated period, the market is anticipated to be dominated by the growing use of CRM systems in the healthcare and healthcare provider sectors. The proliferation of the healthcare CRM market will also be aided by the existence of numerous insurance firms. Additionally, the market will likely be driven during the projected period by market players' quick development and introduction, which are mostly employed to improve marketing and sales procedures among pharmaceutical and biotechnology firms.
By Product
The CRM category for individuals and referrals has the highest revenue share. Due to a rising demand, referral healthcare is anticipated to experience the quickest growth during the projection period. Due to shifting business models and the ongoing demand for integration between patients, providers, and payers, individuals and referrals are anticipated to obtain the largest share during the projected period. The transition from volume to value-based treatment is anticipated to propel the expansion of the referral CRM market. CRM for personal healthcare is anticipated to benefit from horizontal and vertical consolidation among hospitals and independent providers.
By Application
The market leader and contributor to the biggest revenue share was the community outreach sector. The increasing adoption of healthcare CRM solutions for this application is responsible for the segment's expansion. The sector is further divided into three categories: managing financial donors, service marketing and outreach, and community health education. Due to automation and centralization in the healthcare industry, case coordination is predicted to experience profitable growth. Pre-authorizations/eligibility, referrals, and other categories are added to the segment's further classification.
A growing number of chronic diseases and behavioural health issues are predicted to lead to significant growth in the case management market. The sector is further divided into two categories: managing chronic diseases and managing relationships with clinical trials.
By Technology
The market was dominated by cloud-based technology, which also accounted for the biggest revenue share. Due to rising consumerism and potential patient empowerment, the social sector is also anticipated to experience significant growth. Due to its increased popularity among doctors, pharmaceutical companies, and patients, the mobile customer relationship management category is anticipated to have the quickest growth throughout the course of the projection period. Due to the increasing popularity of home and virtual care, predictive analysis is also anticipated to increase. The demand for integrated care, care management, and care coordination is anticipated to drive the expansion of the collaborative CRM market.
By End-use
The biggest revenue share was contributed by the payer category, which controlled the healthcare CRM industry. Payers include insurance providers, while providers include hospitals, clinics, and a range of specialist facilities like hospice care and long-term care facilities, as well as life sciences firms like pharmaceutical and biotechnology firms as well as Clinical Research Organizations (CROs).
During the forecast period, the use of the products in the field of life science is anticipated to rise most quickly. This is due to life sciences organisations growing use of healthcare CRM software. Because hospitals and clinics are increasingly using these solutions for patient management and appointment scheduling procedures, the provider's segment is also anticipated to experience profitable growth over the course of the projection year.
By Product
Individual healthcare CRM
Referral healthcare CRM
Individual and referral healthcare CRM
By Application
Community outreach
Case coordination
Case management
Relationship management
By Technology
Cloud-based
Mobile
Social
Collaborative
Predictive
By End-use
Payers
Providers
Life Sciences
The American Region, Asia-Pacific, Europe, the Middle East, and the rest of the globe are the geographical divisions of the worldwide healthcare CRM market. The region of South America and North America has dominated the market. because the market has been backed by payers, hospitals, and early adoption of the healthcare CRM system.
A considerable portion of the market was accounted for by Europe. This significant increase is attributed to the companies' primary focus on infrastructure, investments in research and development, and developed economies.
In the worldwide healthcare CRM market, the Asia-Pacific region is predicted to grow at the quickest rate. One of the key drivers is the rising number of investors in the healthcare industry, particularly in private hospitals. Due to government initiatives and the growing infrastructure of the healthcare CRM system, the healthcare CRM market is anticipated to grow gradually and steadily across the rest of the world.
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REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players are as follows: Cerner Corporation, Microsoft Corporation, Sage Group Plc, Oracle Corporation, Keona Health., SAP SE, Pegasystems Inc, Salesforce.Com Inc, Zoho Corporation Pvt Ltd, SugarCRM, and other players.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 17.77 Billion |
Market Size by 2031 | US$ 32.40 Billion |
CAGR | CAGR of 7.8% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Product (Individual healthcare CRM, Referral healthcare CRM, Individual and referral healthcare CRM) • By Application (Community outreach, Case coordination, Case management, Relationship management) • By Technology (Cloud-based, Mobile, Social, Collaborative, Predictive) • By End-use (Payers, Providers, Life Sciences) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Cerner Corporation, Microsoft Corporation, Sage Group Plc, Oracle Corporation, Keona Health., SAP SE, Pegasystems Inc, Salesforce.Com Inc, Zoho Corporation Pvt Ltd, SugarCRM, and other players. |
DRIVERS | • Gains from CRM Software • Increasing Attention to Patient Engagement |
RESTRAINTS | • Privacy and Data Security Issues • Implementing CRM is expensive and difficult. |
Healthcare CRM Market Size was valued at USD 17.77 billion in 2023.
Ans: The Healthcare CRM Market is to grow at a CAGR of 7.8% during the forecast period 2024-2031.
Cerner Corporation, Microsoft Corporation, Sage Group Plc, Oracle Corporation, Keona Health., SAP SE are the key players of Healthcare CRM market
The region of South America and North America has dominated the market.
Gains from CRM Software, Increasing Attention to Patient Engagement are the key drivers of the Healthcare CRM market
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare CRM Market Segmentation, By Product
8.1 Individual healthcare CRM
8.2 Referral healthcare CRM
8.3 Individual and referral healthcare CRM
9. Healthcare CRM Market Segmentation, By Application
9.1 Community outreach
9.2 Case coordination
9.3 Case management
9.4 Relationship management
10. Healthcare CRM Market Segmentation, By Technology
10.1 Cloud-based
10.2 Mobile
10.3 Social
10.4 Collaborative
10. 5 Predictive
11. Healthcare CRM Market Segmentation, By End-use
11.1 Payers
11.2 Providers
11. 3Life Sciences
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 Cerner Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Microsoft Corporation
13.3 Sage Group Plc
13.4 Oracle Corporation
13.5 Keona Health.
13.6 SAP SE
13.7 Pegasystems Inc
13.8 Salesforce.Com Inc
13.9 Zoho Corporation Pvt Ltd
13.10 SugarCRM.
14. Competitive landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15.Conclusion
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