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Healthcare CRM Market to Hit USD 23.14 Billion by 2030 owing to Rising Focus on Patient Engagement Coupled with Regulatory Compliance and Data Security

Oct 18, 2023 1:00 PM ET

Healthcare CRM Market to Hit USD 23.14 Billion by 2030 owing to Rising Focus on Patient Engagement Coupled with Regulatory Compliance and Data Security

As per SNS Insider’s research, the healthcare CRM market is poised for substantial growth, driven by technological advancements, patient engagement initiatives, regulatory compliance requirements, operational efficiency demands, and the increasing importance of data-driven decision making.

The healthcare CRM market, as stated in the SNS Insider report, was valued at USD 12.14 billion in 2022. It is anticipated to reach USD 23.14 billion by 2030, displaying a compound annual growth rate (CAGR) of 8.4% during the forecast period from 2023 to 2030.

Market Report Scope

Healthcare CRM systems store essential patient information securely, including medical history, treatment plans, and contact details. This centralized database ensures quick access to pertinent data during consultations, enabling healthcare providers to make informed decisions promptly. Healthcare CRM facilitates seamless communication between patients and healthcare providers. Features such as secure messaging, telehealth integration, and virtual consultations enhance accessibility and enable real-time communication, fostering stronger patient-provider relationships. By fostering proactive communication and personalized interactions, Healthcare CRM strengthens patient engagement. Engaged patients are more likely to follow prescribed treatments, leading to better health outcomes.

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Market Analysis

The healthcare sector is undergoing a profound digital transformation, with cutting-edge technologies such as artificial intelligence, machine learning, and big data analytics revolutionizing patient care. Healthcare CRM systems, integrated with these technologies, enable healthcare providers to offer personalized care, predictive analytics, and streamlined communication, thereby enhancing overall patient satisfaction. As the industry continues to embrace digital solutions, the demand for the healthcare CRM market is on the rise. Patient engagement is at the forefront of modern healthcare practices. Healthcare CRM solutions empower providers to engage with patients proactively, offering personalized health information, appointment reminders, and post-consultation follow-ups. Enhanced patient engagement not only improves patient outcomes but also contributes significantly to patient loyalty and positive feedback, driving the adoption of CRM systems across healthcare facilities. Data-driven decision making is becoming a cornerstone of effective healthcare management. CRM solutions equipped with robust analytics and reporting tools provide valuable insights into patient behavior, preferences, and trends. By leveraging these insights, healthcare providers can make informed decisions, tailor their services to meet patient needs, and develop targeted marketing strategies, thereby fueling the adoption of CRM systems in the healthcare sector.

Major Players Listed in the Report are as Follows:

Cerner Corporation, Microsoft Corporation, Sage Group Plc, Oracle Corporation, Keona Health., SAP SE, Pegasystems Inc, Salesforce.Com Inc, Zoho Corporation Pvt Ltd, SugarCRM, and other players.

Healthcare CRM Market Segmentation as Follows:

By Product

  • Individual healthcare CRM
  • Referral healthcare CRM
  • Individual and referral healthcare CRM

By Application

  • Community outreach
  • Case coordination
  • Case management
  • Relationship management

By Technology

  • Cloud-based
  • Mobile
  • Social
  • Collaborative
  • Predictive

By End-use

  • Payers
  • Providers
  • Life Sciences

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Impact of Recession

The ongoing recession has undeniably shaped the healthcare CRM market, necessitating adaptability and innovation. Healthcare organizations are leveraging CRM technologies to navigate economic challenges while prioritizing patient satisfaction and efficient care delivery. As the market continues to evolve, embracing advanced CRM solutions and patient-centric approaches will be fundamental for healthcare providers to thrive in these challenging times. By doing so, they can not only weather the recessionary storm but also emerge stronger and more resilient in the post-recession healthcare landscape.

Impact of Russia-Ukraine War

The Russia-Ukraine war has undoubtedly posed challenges for the healthcare CRM market, impacting the supply chain, economic stability, and data security measures. However, amidst these challenges, the industry is witnessing a transformation driven by increased demand for telehealth solutions, a focus on data security, and collaborative innovation efforts. CRM vendors and healthcare organizations must adapt swiftly to these changes, embracing innovative technologies and strategic partnerships to navigate the current geopolitical landscape successfully. By doing so, they can not only overcome the challenges presented by the conflict but also contribute to the advancement of healthcare services on a global scale.

Key Regional Development

The North American healthcare CRM market stands at the forefront of innovation, driven by a robust healthcare infrastructure, substantial investments in research and development, and a tech-savvy population. With a focus on enhancing patient experience, healthcare organizations in this region are leveraging CRM solutions to streamline appointment scheduling, personalize patient communication, and improve follow-up care. Europe’s market is characterized by a collaborative approach towards interoperability. Healthcare providers in European countries are increasingly adopting CRM platforms that seamlessly integrate with electronic health records (EHR) systems. The Asia-Pacific region boasts a diverse healthcare landscape, with varying levels of technological adoption and healthcare infrastructure across countries. In this dynamic environment, healthcare CRM solutions are adapting to cater to the unique needs of each market.

Key Takeaway from Healthcare CRM Market Study

The community outreach segment of the market is set to witness exponential growth in the coming years. Healthcare organizations that invest in robust CRM solutions designed for community engagement are better positioned to build enduring relationships, drive positive health behaviors, and contribute significantly to the overall well-being of their communities.

The cloud-based segment of the market is poised for continuous growth. Future trends indicate the integration of artificial intelligence (AI) and machine learning (ML) algorithms within cloud-based CRM platforms. These technologies will enable predictive analytics, personalized treatment recommendations, and predictive maintenance, further enhancing patient outcomes and operational efficiency for healthcare providers.

Recent Developments Related to Healthcare CRM Market

Keona Health, a pioneering player in the healthcare industry, has successfully raised a staggering $7 million in funding. This significant investment has been earmarked for the integration of their cutting-edge Healthcare Customer Relationship Management (CRM) system, marking a transformative step forward in the healthcare sector.

Salesforce and Google have recently announced an expansion of their partnership, unveiling an innovative solution that allows businesses to seamlessly integrate Customer Relationship Management (CRM) and non-CRM data by harnessing the power of Artificial Intelligence (AI).

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Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Healthcare CRM Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Healthcare CRM Market Segmentation, By Product

Chapter 9 Healthcare CRM Market Segmentation, By Application

Chapter 10 Healthcare CRM Market Segmentation, By Technology

Chapter 11 Healthcare CRM Market Segmentation, By End-use

Chapter 12 Regional Analysis

Chapter 13 Company profile

Chapter 14 Competitive Landscape

Chapter 15 Use Case and Best Practices

Chapter 16 Conclusion

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