Glonal Healthcare CRM Market Share Is Likely To Grow At A CAGR Value Of Around 13.7% By 2028

20-Apr-2022 | Facts and Factors

Findings from the Facts and Factors state that The Healthcare CRM Market was worth around USD 10216.5 million in 2021 and is estimated to grow to about USD 22073.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.7% over the forecast period. The report analyzes the healthcare CRM market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the healthcare CRM market.

Global Healthcare CRM Market Size

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Healthcare customer relationship management offers a number of services and solutions to help healthcare practitioners and patients communicate more effectively. Text messages, messaging services, web forms, comment forms, and emails are examples of these tools. These products and services are becoming increasingly popular all around the world. The rise in online product ordering, increased demand for customer relationship management software among pharmaceutical companies, and rapid digital transformation in developing countries such as the United States, Germany, and France are driving growth in the healthcare CRM market in the forecast period. In addition, the increased use of social media marketing for product promotion propels the growth of the healthcare CRM market in the coming years.

Browse the full “Healthcare CRM Market By Components (Software, and Services). By Deployment Model (On-premise Model, the Web/Cloud-based Model). By Functionality (Customer Service and Support, Marketing, Sales, Digital Marketing, and Other Functionalities). By End-User (Healthcare Providers, Healthcare Payers, and Life Sciences Industry), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” report at https://www.fnfresearch.com/healthcare-crm-market

The rise in patient desire for a more convenient approach to treatments via virtual patient care, as well as the rise in technology developments in reconstructing healthcare databases, are projected to drive growth in the healthcare CRM industry. Furthermore, patients' increasing demand for early therapy through home care, digital care, portable surveillance, and illness monitoring devices will contribute to the growth of the healthcare CRM market. The rise in the number of chronic diseases like diabetes and cancer, which require rapid medical support and treatment, is expected to drive growth in the healthcare CRM market in the upcoming years.

Moreover, the rise in the adoption of the bring your own device (BYOD) ecosystem, as a result of the increased use of smartphones, as well as the high operational efficiency and low operational cost of healthcare CRM software, is expected to create lucrative opportunities in the healthcare CRM market in the approaching years. However, the lack of security regarding the privacy of consumer information, as well as the high initial installation cost of this software, limit the market's global expansion.

The Healthcare CRM Market is segregated based on component, deployment model, functionality, and end-user. Based on components, the global market is distinguished into Software, and Services. Based on the deployment model, the global market is distinguished into On-premise Model, the Web/Cloud-based Model. Based on functionality, the global market is distinguished into Customer Service and Support, Marketing, Sales, Digital Marketing, and Other Functionalities. Based on end-user, the global market is distinguished into Healthcare Providers, Healthcare Payers, and Life Sciences Industry.

North America dominated the market during the forecast period because of its huge pool of hospitals, established payers, and expanding healthcare CRM use. A significant number of hospitals can be located in the region, which would help the market's expansion. The global healthcare CRM industry presents a number of obstacles. The high level of competitiveness in the area is one of the most important development factors. The healthcare CRM market will see increased demand as the North American region's healthcare infrastructure evolves. Asia-Pacific is considered the fastest-growing region in the global health care industry due to investors' increased interest in investing in the business.

The market is also becoming increasingly worldwide, prompting these firms to open offices in emerging markets such as India. This increase in the number of hospitals would necessitate the installation of computerized records systems and/or other software to streamline processes, and would thus be ascribed to market growth. Nonetheless, emerging countries invest heavily in developing their own healthcare infrastructures. This initiative is projected to attract a large number of investors and accelerate the development of the country's industry.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 10216.5 Million

Projected Market Size in 2028

USD 22073.1 Million

CAGR Growth Rate

13.7% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Salesforce.com, Inc. (US), SAP SE (Germany), Oracle (US), Microsoft (US), IBM (US), Influence Health (US), SugarCRM (US), Accenture (Ireland), Healthgrades (US), and Infor, Inc. (US)., and Others

Key Segment

By Component, Deployment Model, Functionality, End-User, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Key players functioning in the Healthcare CRM Market include Salesforce.com, Inc. (US), SAP SE (Germany), Oracle (US), Microsoft (US), IBM (US), Influence Health (US), SugarCRM (US), Accenture (Ireland), Healthgrades (US), and Infor, Inc. (US).

Recent developments:

  • In 2021, Salesforce, a worldwide CRM leader, has introduced Vaccine Cloud, a solution that will assist government agencies, healthcare organizations, corporations, nonprofits, and educational institutions in more promptly, safely, and efficiently deploying and managing vaccine programs.
  • In 2021, Nuance Communications, Inc. (NASDAQ: NUAN) introduced an AI-powered virtual assistant platform for patient engagement to transform voice and digital experiences throughout the patient journey. Nuance's platform integrates and expands the capabilities of a healthcare organization's important clinical, financial, customer, and telephony systems, such as the EHR, Patient Financial systems, CRM, and patient access center (call center) telephone infrastructure.

the global healthcare CRM market is segmented as follows:

By Component

  • Software
  • Services

By Deployment Model

  • On-premise Model
  • Web/Cloud-based Model

By Functionality

  • Customer Service and Support
  • Marketing
  • Sales
  • Digital Marketing
  • Other Functionalities

By End-User

  • Healthcare Providers
  • Healthcare Payers
  • Life Sciences Industry

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Reunion
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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