The benefits of CRM software and a growing focus on patient engagement are the major factors driving the growth of the healthcare CRM market. Factors such as the improving quality of healthcare, improvements in healthcare systems, the growing medical tourism market in Asian countries, and increasing government initiatives are the key factors driving the growth of this market.
The report Healthcare
CRM Market is
projected to reach USD 17.4 billion by 2023 from USD 8.8 billion in 2018, at a
CAGR of 14.6% during the forecast period.
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Market
Segmentation:-
Based on end user, the healthcare CRM market is segmented
into healthcare providers, the life sciences industry, and healthcare payers.
The healthcare providers segment is estimated to account for the largest share
of the healthcare CRM market in 2018. This segment is also expected to register
the highest CAGR during the forecast period. Healthcare providers need to
interact with multiple stakeholders, including patients, physicians, other
referral healthcare organizations, healthcare payer organizations,
pharmaceutical companies, and consumers/potential patients, and each requires
unique CRM strategies and solutions.
On the basis of component, the healthcare CRM market is
segmented into software and services. The services segment is expected to
dominate the healthcare CRM market in 2018. This segment is also expected to
register the highest CAGR during the forecast period. Services form a large component
of the healthcare CRM market primarily due to the indispensable role of service
providers when it comes to the use of CRM solutions for healthcare. In terms of
IT usage and skills, the healthcare industry is still in the nascent stage; it
relies heavily on service providers for CRM-related services and support
services, such as implementation, integration, training and education,
maintenance, and technology upgrades.
Recent Developments:-
- In 2018, Salesforce launched Salesforce
Integration Cloud.
- In 2018, IBM partnered with Salesforce. This
partnership aimed to bring together Cloud and Watson services from IBM
with Salesforce Quip and Salesforce Service cloud Einstein to allow
organizations to connect with their customers more effectively.
- In 2018, SAP acquired Caliduscloud (US) to
strengthen its cloud-based customer relationship management solution.
Regional Analysis:-
Geographically, the global healthcare CRM market is
segmented into North America, Europe, Asia, and the Rest of the World (RoW). North
America is estimated to hold the largest share of the healthcare CRM market.
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Key Players:-
The key players in the healthcare CRM market are
Salesforce.com, Inc. (US), SAP SE (Germany), Oracle (US), Microsoft (US), IBM
(US), Influence Health (US), SugarCRM (US), Accenture (Ireland), Healthgrades
(US), and Infor, Inc. (US).
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