According to our latest study on "Healthcare CRM Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," the market is expected to grow from US$ 5,750.95 million in 2022 and is expected to reach US$ 12,947.15 million by 2030; it is anticipated to record a CAGR of 10.7% from 2022 to 2030. The report highlights the key factors driving the healthcare CRM market growth and prominent players with their developments in the market.
Healthcare CRM is an industry-specific system that assists medical service providers in storing and managing patient information, improving service and engagement, improving patient acquisition strategy, and automating marketing and sales operations, all while adhering to healthcare security standards.
Based on deployment mode, the healthcare CRM market is segmented into cloud-based and on-premise. The cloud-based segment held a larger share of the market in 2022 and is expected to register a higher CAGR from 2022 to 2030. Cloud-based healthcare CRM solutions are hosted on the vendor's servers and accessed through a web browser. Cloud-based CRM solutions offer unparalleled accessibility, allowing healthcare professionals to access patient data and CRM tools from any location with internet connectivity. This flexibility is particularly valuable for healthcare providers working remotely or across multiple locations.
The healthcare CRM market, by product type, is segmented into analytical, collaborative, and operational CRM. The operational CRM segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR in the market during 2022-2030. Operational CRM focuses on streamlining and automating operational processes such as appointment scheduling, patient registration, billing, and claim processing within healthcare organizations. These solutions help healthcare providers improve efficiency, reduce administrative burden, and enhance patient experience.
By application, the healthcare CRM market is segmented into case management, relationship management, community outreach, case coordination, and others. The relationship management segment held the largest share of the market in 2022 and is expected to register the highest CAGR from 2022 to 2030. Relationship management in the healthcare CRM market focuses on building and maintaining strong relationships with patients, caregivers, and other stakeholders.
In terms of end users, the healthcare CRM market is segmented into providers, payers, and others. The providers segment held the largest share of the market in 2022 and is expected to register the highest CAGR from 2022 to 2030. Providers, including hospitals, clinics, and individual healthcare professionals, require CRM solutions to help them manage patient cases, coordinate care, and build strong relationships with patients.
Pegasystems Inc, Sage Group Plc, IQVIA Holdings Inc, VerioMed Corp, Pipedrive Inc, WebMD Ignite Inc, Zendesk Inc, SugarCRM Inc, SAP SE, Veeva Systems Inc, Oracle Corp, ScienceSoft USA Corp, Microsoft Corp, Salesforce Inc, and International Business Machines Corp are among the leading companies operating in the global Healthcare CRM market.
Companies operating in the healthcare CRM market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the healthcare CRM market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall healthcare CRM market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.
A few of the significant developments by key market players are listed below.
- In August 2023, IBM and Salesforce announced a collaboration to help businesses worldwide across industries accelerate the adoption of AI for CRM. Together, the two companies support clients in revolutionizing customer, partner, and employee experiences while helping safeguard their data.
- In April 2022, Cured announced the launch of the next evolution of its digital marketing and customer relationship management (CRM) platform built for healthcare, further enabling the company to deliver on its mission to bring care full circle. These platform advancements empower healthcare organizations to build unparalleled relationships with new customers and existing patients.
- In March 2022, Epic launched a CRM system, Cheers, for health systems and is developing an app that uses real-world data to help physicians research best care practices for their patients.
- In March 2022, Invoca announced AI-powered conversation intelligence for healthcare providers. The new solution enables empathetic, patient-first experiences that help increase patient acquisition. Invoca's cloud platform records, transcribes, and analyzes 100% of patient calls while ensuring HIPAA compliance.
- In November 2021, Pegasystems Inc collaborated with Google Cloud, which improved experiences in healthcare with better data insights and personalization. This partnership between Pega and Google Cloud brought together the capabilities of Google Cloud's Healthcare Data Engine and Pega's suite of intelligent healthcare solutions.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com