Healthcare CRM Market Analysis
The global healthcare CRM market is likely to touch USD 21,462.6 million at a 13.4% CAGR between 2019- 2025, reveals the new Market Research Future (MRFR) report. A healthcare CRM (customer relationship management system) helps in weaving together various sources of data such as patient and consumer demographics, behavioral, social, psychographic, financial, clinical, call center, website, provider credentialing among others to offer a complete view into the habits and activities of the patient. Its primary goal is to engage, acquire, & retain patients.
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Healthcare CRM Market Drivers and Restraints
Various factors are adding to the global healthcare CRM market share. These factors, as per the new MRFR report, include increasing emphasis on personalized medicine and customized care, rapid economic development, increasing technological advances in restricting healthcare database, increasing focus on patient engagement, and multiple benefits of CRM software. Additional factors adding market growth include increasing demand for automation and structured data in healthcare organizations, inclination towards a structured billing process, automated healthcare workflow, and an integrated healthcare system, and a rising number of hospitals. Besides, burgeoning demand for mobile monitoring applications, disease monitoring applications, home care, and virtual care by patients are also adding market growth.
On the contrary, limited use of healthcare CRM, especially in developing countries, may restrict the global healthcare CRM market growth over the forecast period.
Healthcare CRM Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global healthcare CRM market based on end user, application, mode of delivery, component, and type.
By type, the global healthcare CRM market is segmented into collaborative CRM, analytical CRM, and operational CRM. Of these, the operational CRM segment will lead the market over the forecast period for its multiple benefits over other forms of healthcare CRM.
By component, the global healthcare CRM market is segmented into service and software. Of these, the software segment will dominate the market over the forecast period for high accessibility and low-cost of software for healthcare settings. It is likely to grow at a 13.8% CAGR.
By application, the global healthcare CRM market is segmented into report module, task management, patient management, and communication module. Of these, the communication module segment will have a major share in the market over the forecast period.
By mode of delivery, the global healthcare CRM market is segmented into on-premise and cloud-based. Of these, the cloud-based segment will spearhead the market over the forecast period for increasing need to reduce healthcare costs coupled with promoting the cost-effectiveness of cloud technology.
By end user, the global healthcare CRM market is segmented into healthcare payers and healthcare providers. Of these, the healthcare providers segment will have the largest share in the market over the forecast period for the rising adoption of CRM in hospitals worldwide.
Healthcare CRM Market Regional Analysis
Based on the region, the global healthcare CRM market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the Americas will dominate the market over the forecast period. Factors boosting the market growth include increasing adoption of healthcare CRM, the presence of multiple hospitals in the region, and the presence of several established players.
The global healthcare CRM market in Europe is likely to hold the second-largest share over the forecast period. Factors boosting the market growth include the presence of developed economies, increasing investments on healthcare infrastructure, and rising focus of companies for expanding in the region.
The global healthcare CRM market in the APAC region is predicted to develop at a fast rate over the forecast period for the rising number of private hospitals coupled with the increasing investments in the healthcare sector.
The global healthcare CRM market in the RoW is predicted to have stable growth over the forecast period for government support and developing healthcare infrastructure.
Leading players profiled in the global healthcare CRM market report include Accenture (Ireland), Healthgrades Operating Company, Inc. (US), Keona Health (US), Salesforce.com, Inc. (the US), SugarCRM (US), Microsoft (US), Infor (US), SAP (US), Oracle (US), and hc1 (US).
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