New York, USA, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Healthcare CRM Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Healthcare CRM Market Information by Type, Component, Mode of Delivery, Application, End User, and Region - Forecast till 2030”, the healthcare CRM market was worth USD 12.7 billion in 2021 and can touch USD 31.5 billion by 2030 at 10.6% CAGR during the forecast period 2022-2030.
Market Scope:
Healthcare CRM (customer relationship management) offers various services as well as tools that help optimize and enhance communication between patients and healthcare providers. Some of the tools are messaging services, text messages, comment forms, emails, and online forms, which have gained immense popularity over the years.
Various healthcare organizations are making use of these services and tools to reduce the need for manpower and achieve higher profitability while minimizing the risk of errors and optimizing communication channels. Sales force automation, service automation, and marketing automation are some of the major features of the healthcare customer relationship management system. Healthcare CRM software is increasingly being used in public clinics, hospitals, research laboratories, and private clinics.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 31.5 Billion |
| CAGR | 10.6% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Delivery, Component, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising demand of integrated healthcare system for efficient workflow |
| Growing number of chronic disease and increasing ageing population |
Healthcare CRM Market Competitive Analysis:
Some of the most eminent contenders in the healthcare CRM industry are:
- Oracle (US)
- Infor (US)
- Keona Health (US)
- Microsoft (US)
- Accenture (Ireland)
- Salesforce (US)
- Keona Health (US)
- Healthgrades (US)
- SugarCRM (US)
- Influence Health (US)
- SAP SE (Germany)
The market is extremely competitive and fragmented, with the players constantly taking up strategic initiatives, like regional expansions, product upgrades, mergers & acquisitions along with portfolio diversification. The market should turn even more competitive with several startups trying to seek opportunities in the sector and established, large-scale firms entering the industry to enhance their portfolio.
Healthcare CRM Market Dynamics
Market Drivers
CRM or customer relationship management solutions help healthcare organizations streamline extensive workflow while improving overall patient care. These solutions also help bring down the costs and elevate the efficiency.
Some of the vital growth drivers of the global industry include the mushrooming elderly population, alarming surge in chronic disorders, and technological advances in the healthcare sector. Surging demand for operational efficiency among healthcare organizations, rising traction of virtual care/ home care and the emergence of big data also contribute to the market growth.
The increasing focus from volume to value-based healthcare combined with the rise in consumerism in the healthcare industry will present lucrative opportunities to healthcare CRM manufacturers. Soaring number of insurance firms will also facilitate market growth in the future. Players' rising efforts to spark the interest of biotechnological and pharmaceutical companies through rigorous marketing strategies should further elevate the market position over the forthcoming years.
Market Restraints
Surging concerns with regard to the security of patient data coupled with the considerable complexity and cost of implementing the CRM process can impede market growth to a certain extent in the coming years.
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COVID-19 Analysis
The COVID-19 outbreak’s impact on the healthcare system was profound, giving way to numerous public health measures, as well as a reduction in medical access to people. The pandemic resulted in the shutdown of operational facilities worldwide.
The worldwide healthcare industry has been facing multiple challenges during the lockdown phase. Given the rapid increase in COVID-19 cases, many medical facilities are encountering a lot of issues, which reduces the provision of essential services.
Healthcare IT including healthcare CRM emerged as the top solution in these uncertain times, helping professionals provide medical services to take care of the rapidly mounting number of new cases. These solutions enable smart healthcare systems to effectively communicate and connect with each other, allowing new ways to track and respond to emergencies. Keeping this in mind, experts believe that the healthcare CRM market will continue to remain afloat and even thrive in the years ahead.
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Healthcare CRM Market Segment Overview
By Type
Types of healthcare CRM solutions include collaborative CRM, Analytical CRM, and operational CRM. The operational CRM segment captured a share of around 56.4% in 2018 and continues to lead the global industry.
By Mode of Delivery
Delivery-wise, the key segments considered are on-premise as well as cloud-based. It is projected that the cloud-based delivery system will achieve a CAGR of 13.7% over the given period.
By End-User
Major end-users of healthcare CRM solutions are healthcare providers along with healthcare payers. MRFR expects the healthcare providers category to take the lead in the global market, as a rising number of hospitals worldwide continue to adopt these CRM solutions.
By Component
The top components covered in the MRFR analysis are software and service. It is presumed that the software segment will note the fastest growth at a rate of 13.8% between 2022 and 2030.
By Application
Top applications of healthcare CRM systems are report module, task management, communication module and patient management.
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Healthcare CRM Market Regional Analysis
Currently, the North America and South America are the market leaders, thanks to the surge in the medical data volume and the mounting need for retention of the existing customers. North America is the forerunner in the region, given the high adoption of cloud services and the presence of reputed cloud-based solution firms such as Oracle, Microsoft, and more.
The healthcare CRM solutions market in Asia Pacific will gain at the fastest rate between 2022 and 2030, considering the rising contention among the players to retain their customers while also reaching out to new ones. The improving healthcare infrastructure and the incredible growth of the healthcare IT sector will also enhance the market size in Asia Pacific in the following years.
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