The global healthcare CRM market is anticipated to reach a value of USD 9.6 billion by 2026, growing at a CAGR of 10.4% during the forecast period from 2020 to 2026. Customer relationship management solutions provide healthcare organizations and systems with robust workflow efficiency while offering seamless patient satisfaction and service.
Some of the prime factors driving the growth of this market are increasing prevalence of chronic diseases demanding frequent consultations and hospitalizations, rapidly growing aging population, and perpetual technological advancements in the field of healthcare IT. As the overall healthcare costs are growing, there is a consistent demand for reduced re-hospitalizations and thereby contain the operational costs in healthcare organizations. Market experts tout the importance of healthcare CRMs in achieving such goals, while also enabling patient satisfaction. Conversely, data privacy issue, and high cost of installation and possibly maintenance or upgrades restrain the market growth to a considerable extent. The anticipated big data revolution and the growing preference for operational efficiency, coupled with evolving technologies in the field of healthcare IT shall open new growth avenues for the proliferation of healthcare CRM market. Furthermore, gradual shift of hospitals and healthcare facilities towards providing patients with more value-based healthcare and improving patient experience is adding to the relevance of solutions like healthcare CRM in mainstream health care.
The demand for cloud-based healthcare CRM solutions is currently the highest globally, and it is anticipated that the segment shall also progress at the highest CAGR during the forecast period. The solution seamlessly records, transmits and stores patient data and is ideal for both small and large size healthcare organizations. Furthermore, low maintenance costs of cloud-based solutions further advocate the prominence of this segment. On the other hand, patient support segment shall be the largest segment in terms of revenue. Growing focus of hospitals on efficient patient engagement and customer satisfaction and ultimately ensuring contained cost are the prime facilitators to this trend.
Adroit Market Research report on global healthcare CRM market gives a holistic view of the market from 2016 to 2026, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2016 to 2018, with the base year of estimation as 2019 and forecast from 2020 to 2026. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global healthcare CRM market have been studied in detail.
Geographically North America and Europe lead the global healthcare CRM market in terms of both the number of deployment and revenue. Presence of evolved healthcare infrastructure, better affordability and rapid adoption of novel technological solutions in these regions is a prime factor attributed to their dominance. Emerging regions of Asia Pacific and Middle East & Africa shall witness rapid growth during the forecast period on the ground of rapidly evolving healthcare infrastructures.
Some of the major companies engaged in the global healthcare CRM market are Salesforce.Com, Inc., Oracle, Siemens Healthineers, Microsoft, IBM, SAP SE, Influence Health, Inc. (HealthGrades), SugarCRM, Accenture and Infor, Inc. Partnerships among cash rich companies along with technologically evolved counterparts is a commonplace in this market. Further market consolidation is anticipated in this space during the course of the forecast period.
Key Segments of the Global Healthcare CRM Market
Component Overview, 2016-2026 (USD Million)
Delivery Mode Overview, 2016-2026 (USD Million)
- On Premise
Function Overview, 2016-2026 (USD Million)
- Sales and Marketing
- Customer Service and Support
- Case Management
Regional Overview, 2016-2026 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa