Healthcare CRM Market Size

Global Healthcare CRM Market Overview

The Healthcare CRM Market Size was valued at USD 14.2 Billion in 2022 and is projected to grow from USD 15.71 Billion in 2023 to USD 35.16 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.60% during the forecast period (2023 - 2032). An increasing preference for healthcare integration that improves productivity and the increasing influence of online advertising are the key market drivers enhancing Healthcare Customer Relationship Management systems growth.

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Market expansion is anticipated to be fueled by rising healthcare organizations' need for structured data and automation. Technology advancements in communication and information technology (IT) are predicted to impact the healthcare industry's need for Customer Relationship Management (CRM). Additionally, closer cooperation between mobile app developers and healthcare professionals has led to patient-centered healthcare apps that can work even when users are not connected to the internet. Over the projection period, a profitable market expansion is anticipated due to the growing demand from patients for access to early treatment through home care, virtual care, mobile monitoring, and disease monitoring applications. Additionally, the market for remote patient monitoring is growing due to the rising incidence of serious illnesses and viral infections.

The aging population also drives the market because chronic diseases are more likely to develop in this group. The sector provides a wide range of services, including care management and coordination, interaction, database building, long-term condition management, predictive analytics, and cooperative services to suit the needs of service providers and clients (payers). Additionally, it is projected that altering consumer outreach and marketing strategies will develop due to hospitals' shifting dynamics and strategies worldwide due to the intense rivalry. During the COVID-19 pandemic, hospitals, clinics, and laboratories employed healthcare CRM platforms to schedule and manage patient visits.

The rising importance of customer relationship management, the growing advantages of CRM software and services, and technical breakthroughs like the incorporation of Artificial Intelligence (AI) into CRM tools are a few of the key drivers propelling the expansion of the healthcare CRM market. The desire for digital care, portable surveillance, early therapy at home, and illness monitoring systems drives growth in the healthcare CRM industry. The prevalence of diseases like cancer and diabetes is rising, probably resulting in a demand for healthcare items. Some benefits driving the use of these systems include improved departmental integration, cost savings, higher patient satisfaction, and several advantages for the administrative personnel.

In March 2024, Salesforce introduced a new artificial intelligence assistant for healthcare as part of its customer relationship management system. This move represents the ongoing efforts of technology companies to broaden their presence in the healthcare industry. With the rapid advancement of AI development, tech giants such as Microsoft, Google, Amazon Web Services, and Salesforce are seeing the potential to utilize cloud and AI technologies in order to address administrative and operational duties. Einstein Copilot, Salesforce's AI technology tailored for the healthcare sector, functions as a conversational AI assistant that generates responses using the confidential data of healthcare organizations. Einstein Copilot enables healthcare clinicians and care teams to digitally collect and condense information from various clinical and nonclinical sources, revise patient and member data, and streamline manual tasks.

 
In June 2024, Keragon, an automation platform specifically designed for the healthcare industry, was introduced with a funding of $3 million. The healthcare technology landscape is characterized by fragmentation, as experts in the field must regularly switch between many software packages, each playing a crucial role in different elements of patient care. However, the majority of such tools do not possess efficient interoperability. They frequently function independently and hardly engage in communication. This leads to laborious and mistake-prone human input of data and coordination. Heightening the cognitive burden on healthcare providers and impeding overall efficiency. Their technology facilitates instantaneous synchronization of patient data across diverse applications, encompassing electronic health records (EHRs), CRM systems, and billing software. The integration of various instruments is essential for minimizing the need for manual labor in patient care, hence immediately enhancing therapeutic results. Keragon is a specialized workflow automation solution that caters to the healthcare business. It is specifically built to meet the unique integration requirements of the healthcare sector while ensuring full compliance with privacy and security regulations. This implies that the platform not only combines with software designed for healthcare purposes, but also deals with the intricacies and intricacies of medical data and workflows.

Healthcare CRM Market Trends

• Growing patient demand for convenient access to care is driving the Healthcare Customer Relationship Management market growth

Market CAGR for healthcare CRM is driven by the rising demand for convenient access to treatments through virtual patient care and technological advancements in reconstructing healthcare databases. The market of healthcare CRM market is expanding because of the rising demand for early therapy in-home care, digital care, portable surveillance, and disease monitoring systems. The Illnesses like diabetes and cancer are becoming increasingly common, which will likely increase the need for healthcare products.

Additionally, patient-centered healthcare apps that can function even when users aren't connected to the internet result from increased collaboration between mobile app developers and healthcare specialists. One of the primary causes driving the demand for healthcare CRM worldwide is the increasing reliance on smartphones and other devices for disease monitoring. Additionally, the rising prevalence of viral infections and serious medical diseases is positively impacting the expansion of the market for remote patient monitoring (RPM) services. The aging population is also driving the market since there is a greater possibility of their forming chronic diseases such as diabetes, hypertension, asthma, cancer, and chronic obstructive pulmonary disease (COPD). Therefore, the increasing prevalence of diseases is fueling the expansion of the international market.

For instance, Epic has released a customer relationship management system for healthcare organizations. It is creating an app that will use real-world data to aid doctors in their quest to determine the best ways to provide medical treatment to patients. As a result, the demand for healthcare CRM is predicted to grow throughout the forecasted time due to rising awareness. Thus, the driving factor is the healthcare CRM market revenue.

Healthcare CRM Market Segment Insights

Healthcare CRM system Type Insights

The  market segments of healthcare CRM, based on type, includes operational CRM, analytical CRM, and collaborative CRM. In 2022, the collaborative CRM segment led the healthcare CRM market in revenue. Collaborative customer relationship management systems make it simple to keep tabs on every encounter with a customer, and these systems focus more on retaining and delighting existing customers than on acquiring new ones.

Healthcare CRM system Component Insights

The  healthcare CRM market segmentation, based on components, includes software and service. The service segment is anticipated to grow at a CAGR of 10.60% over the projected period, making up the largest market share due to customer service in today's modern corporate world. Customer relationship management software is an absolute must. That's because, now more than ever, customer service and support teams are crucial to the success of any business. The synergy between customer service and the rest of the firm is crucial to the success of the company's customers. The method relies heavily on the generation of useful customer data.

Healthcare CRM system Mode of Delivery Insights

The  market segmentation of healthcare CRM, based on the mode of delivery, includes cloud-based and on-premise. The cloud-based segment is expected to grow fastest at a CAGR of 10.60% in the coming years. It is simple to implement and provides more leeway, safety, and availability. Since cloud-based healthcare CRM is a more economical option, demand will likely rise steadily over the next few years.

 Healthcare CRM system Application Insights

The healthcare CRM market segmentation, based on application, includes a communication module, patient management, task management, and report module. The segment with the largest market share in patient management is expected to grow fastest at a CAGR of 10.60% over the next several years. Care providers utilize patient management to accommodate their patients' increasingly high standards of care. This method is integral to building relationships between the doctor and the patient.

Figure 1  Healthcare CRM Market by Application, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

News

Companies in the healthcare industry may now connect customer relationship management (CRM) data, such as appointment background and patient feedback, with non-CRM data, such as patient demographics and medical history data, thanks to a new joint service from Salesforce and Google Cloud. These organizations can then use tailored artificial intelligence (AI) algorithms to identify patients most likely to require readmission. This will provide those high-risk patients with individualized care plans to improve their health through proactive medical care. To help businesses use data and AI to provide enhanced client experiences, better understand consumer behavior, and conduct more successful marketing at a cheaper cost, Salesforce and Google Cloud have just announced an expanded strategic relationship. Both businesses want to revolutionize other sectors of the Indian economy, including healthcare.

Healthcare Customer Relationship Management market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American healthcare CRM market will dominate because of the region's advanced medical infrastructure and the growing interest in healthcare IT among its hospitals and clinics. In addition, the abundance of service providers in the region is helping to boost the sector across North America.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2  HEALTHCARE CRM MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s healthcare CRM market accounts for the second-largest market share because of growing government measures to better the region's healthcare infrastructure and government-created healthcare plans. Further, the German market of healthcare CRM held the largest market share, and the UK market of healthcare CRM was the fastest-growing market in the European region.

The Asia-Pacific healthcare CRM market is expected to grow at the fastest CAGR from 2023 to 2032 due to an aging population, an increase in chronic disease, higher healthcare costs, a greater demand for improved healthcare services, and the growing funding for research would all contribute to the rapid spread of cutting-edge technological solutions in this region. Moreover, China’s market of healthcare CRM held the largest market share, and the Indian market of healthcare CRM was the fastest-growing market in the Asia-Pacific region.

Healthcare Customer Relationship Management market Key Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the market of healthcare CRM grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the healthcare CRM industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the  healthcare CRM industry to benefit clients and increase the market sector. In recent years, the healthcare CRM industry has offered some of the most significant technological advancements. Major players in the market of healthcare CRM, including Sugar CRM (US), SAP SE (Germany), Keona Health (US), Microsoft (US), Infor Inc. (US), Healthgrades (US), Oracle (US), Influence Health (US), Accenture (Ireland), and others are attempting to growing market demand by investing in research and development operations.

Sugar CRM, which provides marketing, sales, and support teams with a clear picture of each customer, has enabled businesses to reach new levels of performance and predictability. Complex activities can be made easy with the CRM tool called Sugar. The senior executives on the tight-knit Sugar CRM leadership team are passionate about building amazing companies that are centered on the success of their customers. Sugar is used by thousands of companies in more than 120 countries to create high-definition CX. Sugar, which has its headquarters in the San Francisco Bay Area, is financed by Accel-KKR. In May 2023, In the category of "New Product Version - Relationship Management Solution" of the 21st Annual American Business Awards®, the award-winning AI-driven CRM platform provider Sugar CRM announced that its most recent version of Sugar Sell had earned a Silver Stevie® Award.

SAP SE, as the industry leader in enterprise application software, improves business operations for organizations of all sizes and across all industries by rethinking ERP and building networks of intelligent enterprises that deliver supply chain transparency, resilience, and sustainability. Thanks to our broad range of software and services, our customers may run prosperous businesses, adapt constantly, and change the world. SAP makes the world function more smoothly and enhances people’s lives through a  network of partners, customers, workers, and thought leaders. In April 2023, SAP SE's supply chain solutions were improved with the help of new data-driven innovations, allowing supply networks to function more sustainably and safely.

Key Companies in the Healthcare CRM Market include

• Sugar CRM (US)


• SAP SE (Germany)


• Keona Health (US)


• Microsoft (US)


• Infor Inc. (US)


• Healthgrades (US)


• Oracle (US)


• Influence Health (US)


• Accenture (Ireland)

Healthcare CRM system Industry Developments

May 2023 Infor Hospitality Management Solution (HMS) has been selected as the property management system (PMS) for Graduate Hotels®, a collection of uniquely designed hotels in energetic college towns. Graduate Hotels® will fully standardize on the Infor cloud-based platform, according to a recent announcement from Infor®, the industry cloud company. Graduate Hotels has successfully incorporated Infor's software in 31 sites since June 2022, with its Eugene, Oregon, location being the most recent. Graduate Hotels now has access to cutting-edge technology through Infor.

January 2023 With Sugar CRM’s robust new digital self-service features, business-to-business sellers can remain on top of consumer needs. Sugar CRM is a CRM platform provider that has received multiple awards for AI-driven innovation. 

Healthcare CRM Market Segmentation

Healthcare CRM Type Outlook

• Operational CRM


• Analytical CRM


• Collaborative CRM

Healthcare CRM Component Outlook

• Software


• Service

Healthcare CRM Mode of Delivery Outlook

• Cloud-Based


• On-Premise

Healthcare CRM End-User Outlook

• Hospitals & Clinics


• Diagnostic Centers


• Imaging Centers


• Research Institutes

Healthcare CRM Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America