Healthcare CRM market size worth USD 31.5 billion by 2030

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New York, U.S., Oct. 27, 2022 (GLOBE NEWSWIRE) — Healthcare CRM Market Overview

According to a comprehensive research report by Market Research Future (MRFR), “Healthcare CRM Market Information by Type, Component, Delivery Mode, Application, End User and Region – Forecast to 2030“, the healthcare CRM market was worth $12.7 billion in 2021 and could reach $31.5 billion by 2030 at a CAGR of 10.6% during the forecast period 2022-2030.

Market scope:

Healthcare CRM (customer relationship management) offers various services and tools to optimize and improve communication between patients and healthcare providers. Some of these tools are messaging services, SMS, feedback forms, email and online forms, which have gained immense popularity over the years.

Various healthcare organizations use these services and tools to reduce labor requirements and achieve better profitability while minimizing the risk of errors and optimizing communication channels. Sales force automation, service automation, and marketing automation are some of the key features of customer relationship management system in the healthcare industry. Healthcare CRM software is increasingly being used in public clinics, hospitals, research labs, and private clinics.

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Report Scope:

Report attribute Details
Market size in 2030 $31.5 billion
CAGR 10.6%
base year 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By type, delivery, component, application and end user
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Growing demand for an integrated healthcare system for efficient workflow
Increase in the number of chronic diseases and aging of the population

Healthcare CRM Market Competitive analysis:

Some of the most prominent competitors in the healthcare CRM industry are:

  • Oracle (US)
  • News (US)
  • Keona Health (USA)
  • Microsoft (US)
  • Accenture (Ireland)
  • Salesforce (US)
  • Keona Health (USA)
  • Healthgrades (USA)
  • SugarCRM (US)
  • Influencing Health (US)
  • SAP SE (Germany)

The market is fiercely competitive and fragmented with players constantly taking strategic initiatives, such as regional expansions, product upgrades, mergers and acquisitions as well as portfolio diversification. The market is expected to become even more competitive with several startups trying to seek opportunities in the sector and large-scale established companies entering the industry to improve their portfolio.

Healthcare CRM Market Dynamic

Market factors

CRM or Customer Relationship Management solutions help healthcare organizations streamline extensive workflow while improving overall patient care. These solutions also reduce costs and increase efficiency.

Some of the vital growth drivers of the global industry include the multiplying elderly population, alarming increase in chronic disorders, and technological advancements in the healthcare sector. Growing demand for operational efficiency among healthcare organizations, increasing traction of virtual care/homecare, and emergence of big data are also contributing to the growth of the market.

The growing emphasis on volume-based and value-based healthcare, combined with the rise of consumerism in the healthcare industry, will present lucrative opportunities for healthcare CRM makers. The growing number of insurance companies will also facilitate the growth of the market in the future. Growing efforts by players to attract the interest of biotech and pharmaceutical companies through rigorous marketing strategies are expected to further elevate the market position in the coming years.

Market constraints

Rising concerns over patient data security coupled with considerable complexity and cost of CRM process implementation may hamper the market growth to some extent in the coming years.

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COVID-19 analysis

The impact of the COVID-19 outbreak on the healthcare system has been profound, resulting in numerous public health measures, as well as reduced medical access to people. The pandemic has resulted in the closure of operational facilities around the world.

The global healthcare industry faced multiple challenges during the lockdown phase. Considering the rapid increase in COVID-19 cases, many medical institutions are facing many problems, reducing the provision of essential services.

Health IT, including health CRM, has emerged as the best solution in these uncertain times, helping professionals deliver medical services to support the growing number of new cases. These solutions allow smart health systems to efficiently communicate and connect with each other, providing new ways to track and respond to emergencies. Keeping this in mind, experts believe that the healthcare CRM market will continue to sustain and even flourish in the coming years.

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Healthcare CRM Market Segment overview

By type

Types of healthcare CRM solutions include collaborative CRM, analytical CRM, and operational CRM. The operational CRM segment captured a share of approximately 56.4% in 2018 and continues to dominate the global industry.

By delivery method

In terms of delivery, the key segments considered are both on-premises and in the cloud. The cloud-based delivery system is expected to reach a CAGR of 13.7% over the given period.

Per end user

The primary end users of healthcare CRM solutions are healthcare providers as well as healthcare payers. MRFR expects the healthcare provider category to take the lead in the global market as an increasing number of hospitals around the world continue to adopt these CRM solutions.

By component

The main components covered by the MRFR analysis are software and services. It is assumed that the software segment will register the fastest growth at a rate of 13.8% between 2022 and 2030.

By request

The main applications of healthcare CRM systems are report module, task management, communication module and patient management.

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Healthcare CRM Market Regional analysis

Currently, North America and South America are the market leaders, thanks to the increase in the volume of medical data and the growing need to retain existing customers. North America is the forerunner in the region, given the high adoption of cloud services and the presence of well-known cloud-based solution companies such as Oracle, Microsoft, etc.

The Asia-Pacific healthcare CRM solutions market will grow at the fastest rate between 2022 and 2030, given the rise of players to retain their customers while seeking new ones. Improving healthcare infrastructure and incredible growth in healthcare IT industry will also increase the market size in Asia Pacific in the coming years.

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