CRM in Healthcare Market to grow by USD 8.01 billion from 2022 to 2027|The growing adoption of cloud-based CRM solutions is an emerging trend supporting market growth - Technavio

NEW YORK, Nov. 3, 2023 /PRNewswire/ -- The CRM in healthcare market is set to grow by USD 8.01 billion from 2022 to 2027, progressing at a CAGR of 8.85% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing adoption of cloud-based CRM solutions is an emerging trend supporting market growth. Cloud-based CRM solutions have different benefits over traditional on-premise models, such as scalability, flexibility, and cost-effectiveness. Moreover, the use of cloud-based solutions helps healthcare practitioners manage patient relationships and access patient data from any location, time, and device. This is really important for remote and virtual patient care, which has advanced since the outbreak of the COVID-19 pandemic. Also, Cloud-based solutions deliver cutting-edge privacy and security attributes that help in protecting sensitive patient data. Therefore, these solutions are expected to play an important role in propelling the growth of global customer relationship management (CRM) in the healthcare market during the forecast period. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The CRM in healthcare market covers the following areas:

• CRM In Healthcare Market Sizing
• CRM In Healthcare Market Forecast
• CRM In Healthcare Market Analysis

The report on the CRM in healthcare market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

CRM In Healthcare Market 2023-2027 - Market Dynamics

Major Driver

The growing demand for personalized healthcare services and patient engagement solutions is the major factor driving the market growth. With the increasing need for personalized healthcare services and patient engagement solutions, global customer relationship management in the healthcare market is fueled. Moreover, healthcare practitioners use CRM solutions to access and analyze patient data and develop individualized treatment programs. Also, CRM allows for identifying patient requirements and preferences, communicating with patients more efficiently, and enhancing patient outcomes. As a result, the requirement for CRM solutions in the healthcare sector has advanced, as providers are functioning on enhancing the quality and significance of service while fulfilling the needs and expectations of patients. This, in turn, is anticipated to boost the growth of the market during the forecast period.

Significant Challenge 

High implementation costs and lack of interoperability with legacy systems may hinder market growth. Significant resources, time, and costs are required to implement a CRM solution. However, verifying that the CRM system is interoperable with existing legal systems is complex and time-consuming for healthcare organizations. Due to low compatibility with legacy systems and high deployment costs, healthcare providers face challenges. Data silos and inefficiencies make it challenging for patient data to be shared between systems along with healthcare organizations to provide a consistent view of patient data, which may have an adverse impact on patient treatment and outcomes. Thus, the lack of interoperability with legacy systems and high implementation costs may hinder the growth of CRM in the healthcare market growth during the forecast period.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

CRM In Healthcare Market 2023-2027: Market Segmentation

The CRM in healthcare market segmentation by component (software and services), deployment (on-premise model and cloud-based model), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the software segment will be significant during the forecast period. Global customer relationship management in the healthcare sector has been experiencing a major increase due to the increasing use of modern technologies in this sector. The software is helping to manage patient data, improve the involvement of patients and enhance communication with healthcare professionals. The increasing use of software as a component in customer relationship management in the healthcare market is attributed to the emergence of cloud-based solutions and the rising need for personalized healthcare services. The rising need for effective data management and legal compliance is also propelling the growth of the segment. Thus, prospects for the growth of the market are anticipated to be significant during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• Accenture Plc
• ALLSCRIPTS HEALTHCARE SOLUTIONS INC.
• Amdocs Ltd.
• Anthology Inc.
• Freshworks Inc.
• Healthgrades Marketplace LLC
• International Business Machines Corp.
• Kapture CRM
• Koch Industries Inc.
• Microsoft Corp.
• Oracle Corp.
• Salesforce Inc.
• SAP SE
• Sapio Sciences LLC
• Siemens AG
• SugarCRM Inc.
• Verint Systems Inc.
• Viseven Europe OU
• Keona Health Inc.
• NICE Ltd.

Vendor Offerings

• Accenture Plc - The company offers CRM in healthcare such as the Accenture Health Experience Platform, enabling personalized patient experience and improving healthcare outcomes.
• ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - The company offers CRM in healthcare such as Allscripts Patient Relationship Management, providing patient engagement and outreach for healthcare organizations.
• Amdocs Ltd. - The company offers CRM in healthcare such as Amdocs CRM for Healthcare, a comprehensive solution for patient engagement and care coordination.

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Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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