The healthcare CRM (Customer Relationship Management) market is expected to be valued at USD 26.35 billion in 2027 from USD 9.90 billion in 2019, registering a CAGR of 13.8% through the forecast period, according to a recent report by Emergen Research. In the near future, due to the growing demand for enhanced and automated healthcare workflow, the global healthcare CRM market is projected to grow exponentially. In addition, during the forecast period, the growing demand for efficient billing processes in healthcare facilities is expected to propel the global healthcare CRM market. In addition, it is projected that the growing number of hospitals in developing countries will increase the global demand for healthcare CRM during the forecast period.
On the other hand, the global healthcare CRM market is expected to be hampered during the forecast period by privacy concerns related to patient medical records.
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Key Highlights of Report
- In January 2020, Healthgrades Operating Company Inc. purchased Evariant, Inc. Health grades will have the most comprehensive end-to-end communication system in the healthcare sector after the agreement, demonstrating the continued focus of both businesses on partnering with providers to broaden high-value services, optimise patient lifespan, and strengthen network utilisation and scheduling.
- Due to the benefits of healthcare CRM software, such as improved customer interaction, communication and service quality, improved management of clinical records and information, and improved administrative activities and workflow, the software sub-segment is expected to lead the market throughout the forecast period.
- Due to the simple deployment and increased efficiency, security, and accessibility of cloud-based healthcare CRM, the cloud-based sub-segment is expected to maintain its largest market share, growing at a CAGR of 13.9 percent during the forecast period. In addition, a cost-effective solution is offered by cloud-based healthcare CRM, which is expected to boost segmental growth further during the forecast period.
- During the forecast period, the operational CRM sub-segment is expected to lead the market. Operational CRM leads to services that enable businesses to provide a good customer experience. This CRM feature offers support for a broad range of business functions, including service, sales, and marketing.
- During the forecast period, the communication module sub-segment is expected to hold the biggest market share. The module allows interactions with individuals or organisations to be registered and scheduled. If the discussion has been made, adding a review of the communications and reviewing the schedule for the next meeting is necessary.
- Due to the growing use of CRM in healthcare facilities, the healthcare provider sub-segment is expected to lead the market during the forecast period. Moreover, increasing implementation of CRM to improve sales and marketing processes in pharmaceutical companies is expected to drive the segment during the forecast period.
- Due to the presence of existing healthcare facilities and growing awareness among clinics and hospitals in the area about healthcare IT solutions, North America is projected to maintain its largest market share during the forecast period. In addition, the competition in the area is influenced by the presence of many service providers in the region.
- Key market participants include Microsoft Corporation, Accenture plc, Oracle Corporation, SugarCRM Inc., Infor, Inc., Healthgrades Operating Company Inc., SAP SE, Cerner Corporation, Amdocs Ltd., and Salesforce.com, Inc.
Emergen Research has segmented the global healthcare CRM market based on component, deployment, solution, application, end-use, and region.
- Component Outlook (Revenue, USD Billion; 2017–2027)
- Deployment Outlook (Revenue, USD Billion; 2017–2027)
- Solution Outlook (Revenue, USD Billion; 2017–2027)
- Analytical CRM
- Operational CRM
- Collaborative CRM
- Application Outlook (Revenue, USD Billion; 2017–2027)
- Patient Management
- Report Module
- Communication Module
- Task Management
- End-use Outlook (Revenue, USD Billion; 2017–2027)
- Healthcare Payers
- Healthcare Providers
- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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