According to the latest report by IMARC Group “Healthcare CRM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global healthcare CRM market size reached US$ 13.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.8 Billion by 2028, exhibiting a growth rate (CAGR) of 12.71% during 2023-2028.
Healthcare customer relationship management (HCRM) represents a specialized software-based solution that is designed for medical institutions to manage customer-related processes. It is generally deployed on the cloud or on-premises in the form of operational, analytical, and collaborative CRM. Healthcare customer relationship management includes comprehensive patient management, dashboard and reporting, caregiver management, communication tools, etc. It records patient information, such as medical history, visits, prescriptions, medical bills, etc., into a holistic profile and is also used for scheduling and tracking medical appointments. HCRM aids in maintaining an updated database regarding the patients with valuable insights and offers quality support to the consumers. As a result, it is widely used across hospitals, clinics, diagnostic centers, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The expanding healthcare sector is primarily augmenting the healthcare CRM market. Furthermore, the inflating requirement for effective solutions to improve patient treatment and healthcare experience is positively influencing the global market. Apart from this, numerous technological advancements, such as the growing integration of artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), cloud-computing solutions, etc., with the HCRM platforms, are acting as significant growth-inducing factors. Moreover, the rising need for high-quality virtual care, home care, and remote disease monitoring services to the patient via chatbots and real-time interactions by these systems is also bolstering the market growth. Besides this, the escalating demand for these tools, as they help in reducing the human effort that results in enhanced cost efficiency, minimal risk of errors, optimized communications, etc., is further catalyzing the global market. Additionally, the increasing healthcare expenditures of individuals and extensive investments in R&D activities are expected to fuel the healthcare CRM market in the coming years.
Breakup by Product:
- Individual
- Referral
- Individual and Referral
Breakup by Application:
- Community Outreach
- Case Coordination
- Case Management
- Relationship Management
Breakup by Technology:
- Cloud-based
- Mobile
- Social
- Collaborative
- Predictive
Breakup by End Use:
- Payers
- Providers
- Life Science Companies
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Accenture Plc
- AllScripts Healthcare Solutions Inc
- Amdocs
- Aspect Software Inc
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com inc
- SAP SE
- Siemens Healthineers AG (Siemens AG).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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