Healthcare CRM Market Expected to Reach $36.7 Billion by 2030

According to a new report published by Allied Market Research, titled, “healthcare CRM market by component, application, deployment model, end user, and region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” global healthcare CRM market size was valued at $9.7 Billion in 2020, and is projected to reach $36.7 Billion by 2030, growing at a CAGR of 14.1% from 2021 to 2030. In 2020, North America region dominated the global healthcare CRM market accounting for 43.5% share of the market.

Rise in aging population globally is expected to rise in demand for healthcare CRM software for booking appointment online and patient management services, which drives growth of the global healthcare CRM market. Surge in adoption of new cutting-edge technologies in various organizations and rise in need to create new mile stones in customer engagement, sustainability, and product marketing sectors for healthcare drives growth of the global healthcare CRM market. Using a CRM system can give a clear overview of customer behavior to companies. Project managers can monitor all insights on a single platform, which is beneficial to take quick decisions for them. It provides customizable dashboard that can specify a customer's previous history with organization, status of their orders, and any outstanding customer service issues, which drive growth of the global healthcare CRM market.

Increase in demand for more effective marketing campaign solutions and rise in demand to improve patient experience for the healthcare sector fuels growth of the global healthcare CRM market. Moreover, rise in government initiatives across the globe to emphasize the need for higher attention toward improvement of healthcare facilities and quality of care drives growth of the global healthcare CRM market.

Increase in demand for healthcare CRM from patients to get easy approach to the treatments by mode of virtual patient care, home care, monitoring of mobile, and counselling about diseases fuels the growth of the global healthcare CRM market. Major players such as IBM, Salesforce.Com Inc, and SAP SE are adopting partnership as a key developmental strategy to improve service portfolio of healthcare CRM products. For instance, in 2018, IBM entered into a partnership with Salesforce. This partnership brought along Cloud and Watson services from IBM with Salesforce Quip and Salesforce Service cloud Einstein to help organizations to coordinate with customers more efficiently.

The healthcare customer relationship management market is segmented into component, deployment model, application, and region. By component, it is bifurcated into software and service. The software segment dominated the market. Depending on deployment mode, it is categorized into on-premise, cloud, and hybrid. The cloud segment dominated the market in 2020. On the basis application, it is divided into customer service & support, marketing, CRM analytics, and others. Customer service & support segment dominated the market in 2020. Based on end user, it is segmented into healthcare providers and healthcare payers. The healthcare providers segment generated the highest revenue in 2020.

 Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America region dominates the market in 2020.

The key players profiled in the market report include Salesforce.Com Inc, Microsoft Corporation, Oracle Corporation, Pegasystems Inc, Sage Group Plc, SAP SE, SugarCRM, Zoho Corporation Pvt Ltd, Cerner Corporation, and Keona Health.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global healthcare CRM market trends and dynamics. 
• By component, the software segment dominated the market, in terms of revenue in 2020, and the services segment is projected to grow at a CAGR of 14.8% during the forecast period.
• By application, the customer service & support segment registered highest growth in the global market in 2020.
• By deployment model, the cloud segment is projected to register the highest growth rate in the coming years.
• By end user, the healthcare providers segment generated highest revenue in 2020.  
• The report provides an extensive analysis of the trends and emerging opportunities of the market. 
• In depth, the global healthcare CRM market analysis is conducted by constructing estimations for key segments between 2020 and 2030.