Adroit Market Research - Industry Insights
Global Healthcare Customer Relationship Management (CRM) Market Size 2019, By Component (Software & Services), By Delivery Mode (On-premise & Cloud), By Function (Sales and Marketing, Customer Service and Support, Case Management & Others), By Region and Forecast 2020 to 2026
May 2020
Total Pages: 100
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The global healthcare customer relationship management (CRM) market is estimated to reach USD 19 billion mark by 2026, growing at a CAGR of 10.4% during the forecast period from 2020 to 2026. Growing demand for streamlined data in healthcare facilities and organizations shall drive the demand for healthcare CRM solutions worldwide. Technological innovations in terms of data integration and seamless storage and transmission will further lead to growth in adoption of healthcare CRM solutions.
There has been a consistent growth in demand for early and prompt diagnosis, along with early treatment through home care, telemedicine and remote monitoring shall open new growth opportunities in the market. Changing nature of healthcare facilities and organizations due to the increasing need to reduce operational and administrative costs, while increasing efficiency and reducing the rate of patient readmission shall lead to innovations in this field. Other market drivers include need for better integration between different units of the healthcare systems or departments of an organization, increased patient satisfaction and overall convenience to patients and caregivers.
.png "Global Healthcare CRM Market, 2016-2026 (USD Million)")
Major players operating in the global healthcare CRM market are Salesforce.com, SAP, Accenture, IBM, Oracle, Microsoft, SugarCRM, Influence Health, Inc. (HealthGrades) and others. The major market players are continuously engaged in technological innovation through R&D efforts and collaborations. Companies like Salesforce introduced the cloud solution in collaboration with several partners such as Philips, Accenture and Deloitte Digital. Companies are also trying their hands in AI and cognitive technologies to bring further evolution in this field.
Key Segments of the Global Healthcare CRM Market
Component Overview, 2016-2026 (USD Million)
- Software
- Services
Delivery Mode Overview, 2016-2026 (USD Million)
- On Premise
- Cloud
- Public
- Private
- Hybrid
Function Overview, 2016-2026 (USD Million)
- Sales and Marketing
- Customer Service and Support
- Case Management
- Others
Regional Overview, 2016-2026 (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Need for hospitals to reduce operational costs and increase efficiency
- Growing rate of geriatric population, chronic diseases, and related hospital readmissions
- Adoption of telemedicine and home healthcare among chronically ill patients
What does the report include?
- The study on the global healthcare CRM market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of component, deployment mode and function. Moreover, the study on healthcare CRM market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global healthcare CRM market is suitable for all the players across the value chain including software and hardware providers, maintenance and upgrade solution providers, healthcare organizations, distributors, and technology intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global healthcare CRM market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global healthcare CRM market
Healthcare CRM at present has evolved to become a commonplace in the healthcare system in the developed countries; however, the impact of CRM technologies is not yet profound on the overall healthcare system, due to high investment and the market strategies adopted by the solutions providers. Many believe that CRM is essentially a contact management system for healthcare data. However, the scope of healthcare CRM goes beyond to become a strategic tool. Healthcare CRM also assists in precision marketing by efficiently offering precise solutions to the consumers. This solution is also beneficial in public health management as population data and computational predictive models on population health can be derived through healthcare CRM. Further evolution in the field of healthcare CRM is expected for full understanding and implementation of seamless data storage, transmission and interpretation. Efficient adoption of healthcare CRM systems require collaboration between different organizations and departments. Some of the imperative components required for efficient deployment of healthcare CRM are IT infrastructure, collaboration from finance departments for validation of the revenue generation and ROI calculation and so on.
Healthcare CRM helps in deciphering and understanding all the data feeds and translating them into actionable intelligence tools for better patient engagement, procurement and retention. A robust 360 degree profile of any patient can be created through a good consolidated data in healthcare CRM. This further enables solutions marketers to efficiently coordinate with operations for improving consumer experience.
The global healthcare CRM market is segmented based on components: software and services; deployment mode: on premise and cloud; and function: sales and marketing, customer service and support, case management and others. In 2019, cloud-based CRM model occupies the larger market share on the global front. Through the forecast period, this segment will also progress at the highest CAGR. Ease in outsourcing, less maintenance cost, improving security features and improving accessibility to different departments advocate the dominance of this segment. Furthermore, customer service and support segment shall account for the largest market share in the healthcare CRM industry throughout the forecast period. Increasing focus of healthcare organizations on better patient engagement, increased pressure on organizations for cost containment and growing importance of ensuring patient satisfaction are some other factors enabling the prominent position of this segment.
North America is the leading regional market for healthcare CRM solutions, followed by Europe. Presence of evolved healthcare infrastructure, better purchasing power of healthcare organizations to invest in high capital healthcare IT solutions, and better awareness. In Western Europe, better affordability or the healthcare system along with early adoption of novel technologies contribute to the prominence of the region. Additionally, it is anticipated that Asia Pacific market will witness the fastest growth during the forecast period. The growth in this region is mainly contributed by increasing awareness among the stakeholders in any healthcare system, rapid evolution of healthcare infrastructure and increasing private funding.
.png "Global Healthcare CRM Market Share by Region (2020)")
Major companies operating in the global healthcare CRM market Salesforce.Com, Inc., Siemens Healthineers, Oracle, Microsoft, IBM, SAP SE, Influence Health, Inc. (HealthGrades), SugarCRM, Accenture and Infor, Inc.
The global healthcare customer relationship management (CRM) market is estimated to reach USD 19 billion mark by 2026, growing at a CAGR of 10.4% during the forecast period from 2020 to 2026. Growing demand for streamlined data in healthcare facilities and organizations shall drive the demand for healthcare CRM solutions worldwide. Technological innovations in terms of data integration and seamless storage and transmission will further lead to growth in adoption of healthcare CRM solutions.
There has been a consistent growth in demand for early and prompt diagnosis, along with early treatment through home care, telemedicine and remote monitoring shall open new growth opportunities in the market. Changing nature of healthcare facilities and organizations due to the increasing need to reduce operational and administrative costs, while increasing efficiency and reducing the rate of patient readmission shall lead to innovations in this field. Other market drivers include need for better integration between different units of the healthcare systems or departments of an organization, increased patient satisfaction and overall convenience to patients and caregivers.
Major players operating in the global healthcare CRM market are Salesforce.com, SAP, Accenture, IBM, Oracle, Microsoft, SugarCRM, Influence Health, Inc. (HealthGrades) and others. The major market players are continuously engaged in technological innovation through R&D efforts and collaborations. Companies like Salesforce introduced the cloud solution in collaboration with several partners such as Philips, Accenture and Deloitte Digital. Companies are also trying their hands in AI and cognitive technologies to bring further evolution in this field.
Key Segments of the Global Healthcare CRM Market
Component Overview, 2016-2026 (USD Million)
- Software
- Services
Delivery Mode Overview, 2016-2026 (USD Million)
- On Premise
- Cloud
- Public
- Private
- Hybrid
Function Overview, 2016-2026 (USD Million)
- Sales and Marketing
- Customer Service and Support
- Case Management
- Others
Regional Overview, 2016-2026 (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Need for hospitals to reduce operational costs and increase efficiency
- Growing rate of geriatric population, chronic diseases, and related hospital readmissions
- Adoption of telemedicine and home healthcare among chronically ill patients
What does the report include?
- The study on the global healthcare CRM market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of component, deployment mode and function. Moreover, the study on healthcare CRM market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global healthcare CRM market is suitable for all the players across the value chain including software and hardware providers, maintenance and upgrade solution providers, healthcare organizations, distributors, and technology intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global healthcare CRM market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global healthcare CRM market
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
4. Healthcare CRM Market by Component, 2016-2026 (USD Million)
4.1. Software
4.2. Services
5. Healthcare CRM Market by Delivery Mode, 2016-2026 (USD Million)
5.1. On Premise
5.2. Cloud
5.2.1. Public
5.2.2. Private
5.2.3. Hybrid
6. Healthcare CRM Market by Function, 2016-2026 (USD Million)
6.1. Sales and Marketing
6.2. Customer Service and Support
6.3. Case Management
6.4. Others
7. Healthcare CRM Market by Region 2016-2026 (USD Million)
7.1. North America
7.1.1. US
7.1.2. Canada
7.2. Europe
7.2.1. UK
7.2.2. Germany
7.2.3. France
7.2.4. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. Rest of APAC
7.4. Latin America
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of Latin America
7.5. Middle East & Africa
8. Competitive Landscape
8.1. Company Ranking
8.2. Market Share Analysis
8.3. Strategic Initiatives
8.3.1. Mergers & Acquisitions
8.3.2. New Product Launch
8.3.3. Others
9. Company Profiles
9.1. Salesforce.Com, Inc.
9.1.1. Overview
9.1.2. Products Portfolio
9.1.3. Recent Initiatives
9.1.4. Company Financials
9.2. Siemens Healthineers
9.3. Oracle
9.4. Microsoft
9.5. IBM
9.6. SAP SE
9.7. Influence Health, Inc. (HealthGrades)
9.8. SugarCRM
9.9. Accenture
9.10. Infor, Inc.
10. Appendix
10.1. Primary Research Approach
10.1.1. Primary Interview Participants
10.1.2. Primary Interview Summary
10.2. Questionnaire
10.3. Related Reports
10.3.1. Published
10.3.2. Upcoming