Healthcare Customer Relationship Management (CRM) Market Shows Growth Spots with Advances in Telemedicine and Remote Care
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.
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A healthcare CRM is designed to offer robust information profile to medical professionals thus improving clinical decision-making for improved patient care and superlative healthcare delivery. Adroit Market Research further gauges into constant industrial development and their overall impact on thorough growth progression and revenue sustainability throughout the survey span.
As healthcare industry continues to rave up its offerings and support larger patient pools with massive geographical expanse, functional integration in the capacities of patient monitoring, workflow efficiency, streamlining billing processes have augmented steady reliance on advanced customer relationship management (CRM) I recent years. The trend is also likely to garner further momentum as healthcare institutions realign their marketing and sales capabilities to ensure improved patient footfall.
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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.
CRM in healthcare is also crucial in nurturing accessibility scalability and transparency in service delivery and communication.
For improved healthcare delivery healthcare institutions are fast converging with technology behemoths to develop agile and robust healthcare customer relationship management (CRM) offerings, complying with patient needs, cost management and holistic growth objectives of healthcare centers.
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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.
Tangible shift in care delivery models such as reliance on telemedicine and online consultations to support remote care models, healthcare industry is also swiftly adopting customer relationship best practices, thus fueling growth in healthcare customer relationship management (CRM) market. With healthcare industry gearing up to offer personalized treatment, its is but essential to maintain a detailed patient record. Adoption of healthcare CRM solutions therefore remains highly integral.
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.
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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
Major points from Table of Contents:
- Research Methodology
- Market Outlook
- Healthcare CRM Market by Component, 2016-2026 (USD Million)
- Healthcare CRM Market by Delivery Mode, 2016-2026 (USD Million)
- Healthcare CRM Market by Function, 2016-2026 (USD Million)
- Healthcare CRM Market by Region 2016-2026 (USD Million)
- Competitive Landscape
- Company Profiles
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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