HealthTech

Healthcare CRM Market Size Forecasted to Reach Valuation of USD 26.35 Billion In 2027

By Biswas Debanjan

Posted on November 15, 2021

The global healthcare CRM market size is expected to reach USD 26.35 billion in 2027 and register a CAGR of 13.8% during the forecast period. Growing need for effective billing processes in healthcare services is a crucial factor driving the Healthcare CRM market.

Healthcare CRM (Customer Relationship Management) is used to gather patient data from various sources. CRM technologies are gaining popularity in healthcare organizations to improve sales, marketing activities and achieve ROI. CRM technology allows automation of tasks such as submitting test reports, emails, and text messages. Increasing need to maintain improved and automated workflow in healthcare facilities. Demand for healthcare CRM is increasing due to continuous rise in patients and incidences of chronic diseases which has overburdened the healthcare sector.

Growing demand for services such as home care, virtual care, mobile monitoring, and disease monitoring by patients is boosting the market growth. Additionally, rapid technological advancements in reorganizing databases and considerable economic developments are expected to escalate market growth during the forecast period.

However, problems related to privacy of patient medical documents and complexities in underdeveloped CRM systems are projected to hamper the healthcare CRM market’s growth over the forecast period.

Healthcare CRM

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Some key highlights in the report:

The operational CRM segment is expected to maintain its dominance in the global market in terms of revenue during the forecast period. Operations CRM leads to services that enable businesses and companies to provide successful client care. Benefits of operational CRM such as adequate internal communication, expansion of cross-selling & up-selling, enhancing customer satisfaction, and enhancing marketing and sales process are expected to augment the segment in the future.
The communication module segment is expected to account for largest market revenue share throughout the forecast period. This module enables scheduling of contacts and documentations amongst groups and businesses. Benefit of using the communication module is that any user can easily review all meetings and communications that have taken place with a person or company previously.
The healthcare providers segment is expected to expand at highest CAGR as compared to other end-use segments during the forecast period owing to growing implementation of healthcare CRM in clinics and hospitals.
Asia Pacific is expected to register a substantial rapid CAGR throughout the forecast period owing to the increasing government support to healthcare organizations for improving patient care management and hospital solutions to provide more reliable services to patients and families. Additionally, growing awareness about streamlined marketing and operational activities by several pharmaceutical companies in developing economies is expected to surge the market in the coming years.
North America is projected to account for largest revenue share among other regional markets during the forecast period owing to existence of well-structured healthcare services and growing consciousness for healthcare IT solutions among clinics and hospitals.
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.

For the purpose of this report, Emergen Research has segmented the global healthcare CRM market on the basis of component, deployment, solution, application, end-use, and region.

Component Outlook (Revenue, USD Billion; 2017–2027)