Global Healthcare CRM Market, By Component (Software, Services) By Functionality (Customer Service and Support, Marketing, Sales, Digital Marketing, Other) By End User (Healthcare Providers, Healthcare Payers, Life Sciences Industry), and opportunities and forecast 2020-2027
Healthcare CRM Market Overview
The global healthcare customer relationship management (CRM) market is expected to rise at a rapid pace During the projected period. Healthcare CRM is a solution that helps healthcare organizations communicate with patients through effective workflow and management processes. A healthcare CRM system collects and analyses large amounts of patient data from numerous sources.
The growing demand from patients for early disease identification via mobile monitoring and other disease monitoring devices is likely to propel the healthcare CRM market forward. Another important development factor for the healthcare CRM market is the inclusion of artificial intelligence in CRM technologies. The healthcare CRM market is expected to grow and develop due to the increased need for operational efficiency in healthcare companies, increased usage of home care services, and the big data revolution.
In the coming years, rising technology advances to reorganize the healthcare database, as well as rapid economic improvements, are predicted to propel the healthcare CRM market forward. In the future years, the total healthcare CRM industry is projected to be propelled by a change from volume-based to value-based healthcare.
Covid-19 Impact on Healthcare CRM Market
|Market size available for years
|Base year considered
||Value (USD Million)
||Component, Functionality, End User, and Region.
||North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
||Microsoft, Healthgrades, Oracle, Accenture, Keona Health, and SAP.
In addition, the current Healthcare CRM Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Healthcare CRM Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report. Healthcare CRM Market Segment Overview
Based on the functionality, Customer service and support, marketing, sales, digital marketing, and other functionalities make up the healthcare CRM market. The customer service and support segment is predicted to take the biggest share of the market. The substantial proportion of this market is due to a growing focus on patient involvement, increased pressure on healthcare companies to cut costs and the necessity of ensuring customer happiness. During the projected period, the other functionalities segment is expected to grow at the fastest rate.
Healthcare CRM Market, By Component
Healthcare CRM Market, By Functionality
· Customer Service and Support
· Digital Marketing
Healthcare CRM Market, By End User
· Healthcare Providers
· Healthcare Payers
· Life Sciences IndustryHealthcare CRM Market Regional Overview
Region-wise, the global Healthcare CRM market is classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa. In the future, the healthcare CRM market in the Asia Pacific is predicted to grow at the fastest rate. Investments in private hospitals and other healthcare facilities in developing nations such as India and Indonesia may increase, boosting the healthcare CRM market. In the coming years, the healthcare CRM market in North America is expected to grow rapidly. Healthcare CRM systems are likely to be used by a large number of hospitals in countries such as Canada and the United States, propelling the expansion of the healthcare CRM market. The healthcare CRM market in Europe is predicted to grow rapidly, since countries such as the United Kingdom and Germany may use healthcare CRM products in their systems. In the coming years, other regions such as South America, the Middle East, and Africa are anticipated to see stable expansion in the healthcare CRM market.
Healthcare CRM Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA) Healthcare CRM Market Competitor overview
Some key developments and strategies adopted by manufacturers in Healthcare CRM are highlighted below.
· In January 2018, IBM and Salesforce, the global leader in CRM, announced an expansion of their strategic partnership, bringing together IBM Cloud and Watson services with Salesforce Quip and Salesforce Service Cloud Einstein to enable companies to connect with their customers and collaborate more effectively with deeper insights.
· In April 2018, SAP SE announced that it has completed its acquisition of Callidus Software Inc., a market leader known for its lead-to-money applications, including sales performance management and configure-price-quote (CPQ). Healthcare CRM Market, Key Players
· Keona Health
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Healthcare CRM market?
A. The growing demand from patients for early disease identification via mobile monitoring and other disease monitoring devices is likely to propel the healthcare CRM market forward
Q2. Which Segments are covered in the global Healthcare CRM market report?
A. Component, Functionality, End User, and Region. these segments are covered in the global Healthcare CRM market report
Q3. Which segment is projected to hold the largest share in the global Healthcare CRM market?
A. The customer service and support segment is projected to hold the largest share in the global Healthcare CRM market
Q4. Which region holds the largest share in the global Healthcare CRM market?
A. Asia Pacific holds the largest share in the global Healthcare CRM market
Q5. Which are the prominent players in the global Healthcare CRM market?
A. Microsoft, Healthgrades, Oracle, Accenture, Keona Health, and SAP. are some key players in the global Healthcare CRM market