Healthcare Crm Market

The Healthcare CRM Market, valued at USD 14.3 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. The increasing demand for structured data and automation in healthcare organizations is expected to drive market growth. Technological advancements in communication and Information Technology (IT) are influencing the demand for healthcare-based Customer Relationship Management (CRM) solutions. During the COVID-19 pandemic, healthcare CRM solutions were used by laboratories, medical institutions, clinics, and hospitals for creating and tracking medical appointments.

The growing demand for early treatment access through home care, virtual care, mobile monitoring, and disease monitoring applications is expected to contribute to the market's lucrative growth. The healthcare CRM market caters to the needs of service providers and patients (payers), offering services such as care coordination and management, communication services, database construction, predictive services, chronic disease management, and collaborative services. Additionally, the evolving dynamics and strategies of hospitals worldwide due to intense competition are driving advancements in customer outreach and marketing techniques.

Government collaboration with patient, provider, and payer communities is anticipated to drive market growth. Direct targeted marketing and the use of social marketing are expected to gain traction over the forecast period. The adoption of healthcare CRM systems is driven by several factors, including better department integration, cost reduction, increased patient satisfaction, and multiple benefits for administrative staff. PatientPop, Inc.'s PatientPop marketing services, which include the PatientPop dashboard and personalized digital marketing services, aim to assist healthcare providers and practices in attracting and retaining patients.

Functionality Insights
In 2022, the Sales segment emerged as the dominant functionality in the global Healthcare CRM market, accounting for a share of over 20%. It is also projected to experience the highest growth rate. On the other hand, the Marketing and Customer Service and Support segment is expected to grow significantly in the coming years, driven by the availability of numerous CRM solutions in the market and the initiatives undertaken by market players.

One notable example is Pega for Healthcare & Life Sciences, a low-code healthcare engagement, efficiency, and self-service platform offered by Pegasystems. It caters to healthcare payers, pharmacy benefit managers, providers, and participants in the life science industry.

Another integrated solution is HealtheCRM, developed by Cerner (now Oracle) and Salesforce. This solution facilitates strong collaboration between consumers and providers, supports enhanced customer service, and aims to improve engagement and clinical outcomes. It combines Cerner's HealtheIntent data and insight platform with Salesforce Health Cloud and Marketing Cloud to provide a comprehensive view of consumers, enabling stakeholders within the organization to deliver relevant and consistent experiences throughout the consumer's journey.

Furthermore, GE Healthcare partnered with Capgemini to develop SFDC Lightning Salescloud, a solution that enhances the logistics of medical equipment installation scheduling. This collaboration helped GE Healthcare reduce installation delays, improve supply chain management, and enhance the customer and employee experience. Capgemini offers similar solutions in collaboration with Salesforce, while ScienceSoft USA Corporation provides CRM software tailored to the healthcare industry, offering features such as referral management, interoperability, and automation.

Regional Insights
In 2022, North America accounted for over 50% of the Healthcare CRM market, primarily due to the region's excellent network and IT development. The implementation of the Affordable Healthcare Act in 2010 and supportive government initiatives such as health connect and e-health have been driving the growth of the industry. In Asia Pacific, the market is expected to witness substantial growth of over 10% during the forecast period, propelled by healthcare schemes devised by government agencies. According to Wolters Kluwer, governments in the region are projected to spend USD 794.6 million on EHR/EMR systems by 2018.

The increasing focus on healthcare infrastructure and medical tourism within the Asia Pacific region is anticipated to enhance the customer experience and drive market growth. Moreover, the rise in the aging population in key markets and the increasing prevalence of chronic diseases will contribute to regional market growth. The lack of infrastructure in the public health system is fueling the growth of private health management and insurance. Increased spending and the growing demand for improved medical services are expected to stimulate the adoption of newer technologies in the Middle East and Africa (MEA).

The Healthcare CRM market is characterized by intense competition. Leading market players and industry stakeholders are implementing strategic initiatives such as portfolio expansion, product launches and upgrades, partnerships, regional expansion, and mergers and acquisitions. For instance, in September 2022, Salesforce introduced health cloud 2.0, a connected platform aimed at delivering improved safety and health outcomes for customers, communities, and employees. Industry players like IBM, Microsoft, and SAP are increasingly focusing on cognitive technology and artificial intelligence to enhance the patient experience and capture a significant market share.

Some of the key players in the market include: 
• Microsoft
• Cerner Corporation (Oracle)
• IBM
• SAP
• Accenture
• Zoho Corporation
• hc1
• LeadSquared
• Salesforce
• Veeva Systems
• Talisma
• Alvaria
• NICE
• Verint Systems Inc.
• Creatio

Global Healthcare CRM Market Segmentation
The report provides revenue growth projections at both regional and country levels and offers an analysis of the latest trends and opportunities in each sub-segment from 2017 to 2030. To present the information effectively, Grand View Research has categorized the Healthcare CRM market based on Functionality, Deployment Mode, End Use, and Region.

Functionality Outlook (Revenue, USD Billion, 2017 - 2030)
• Customer Service and Support
• Digital Commerce
• Marketing
• Sales
• Cross -CRM

Deployment mode Outlook (Revenue, USD Billion, 2017 - 2030)
• On-premise Model
• Cloud/Web-based Model

End Use Outlook (Revenue, USD Billion, 2017 - 2030)
• Healthcare Providers
• Healthcare Payers
• Life Sciences Industry

Regional Outlook (Revenue, USD Billion, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Italy
o Norway
o Denmark
o Sweden
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait