Increasing Knowledge About Internet of Things and Artificial Intelligence Drives Europe Healthcare CRM Market
From 2011 to 2020, a significantly larger number of devices were connected to the internet than ever before, and this trend will continue steadily in the coming decades. The emergence of the Internet of Things (IoT) has propelled the development of various health practices to improve population health. Many services and applications of IoT in healthcare-eHealth, health analytics, mobile health (mHealth), ambient assisted living, semantic devices, wearable devices and smartphones, and community-based healthcare-have been examined in several recent studies. These services have been extensively informative and can be used for a variety of purposes across single condition and cluster condition management, including allowing healthcare professionals to track and monitor patient progress remotely, improving self-management of chronic conditions, assisting in the early detection of abnormalities, and accelerating symptom identification and clinical diagnoses. Further, IoT-powered apps have the potential to make better use of healthcare resources while providing high-quality, low-cost medical treatment. Thus, the emergence of the IoT will likely promote patient engagement through hardware and CRM software in healthcare facilities to automate processes and relationship management.Additionally, integrating AI and machine learning capabilities within healthcare CRM represents an opportunity for enhancing patient risk stratification, personalized care pathways, and proactive patient interaction, aligning with the trend toward data-driven predictive healthcare interventions. Various companies such as Salesforce, Actium, and Veeva Systems have launched AI-based healthcare CRM. For instance, in October 2023, Salesforce announced the launch of Life Sciences Cloud, an AI-based CRM for pharma and medtech organizations to help them speed up drug and device development, enlist and retain patients across the clinical trial journey, and leverage AI to deliver personalized customer experiences. Thus, the mentioned factors will likely propel the demand for healthcare CRM in healthcare infrastructure and boost the market growth.
Europe Healthcare CRM Market Overview
The Europe healthcare CRM market in Germany is anticipated to witness significant growth due to the reforms undertaken by the government to reduce waiting times. Long waiting lines are an undesirable form of rationing since they decrease utility gains from consultation and treatment. A few measures undertaken to reduce the waiting time in medical practices include higher spending, waiting-times target schemes, and incentive mechanisms that reward higher activity levels. In 2015, policymakers began a reform to tackle rising waiting times in the outpatient sector. The reform is part of a law aimed at improving medical services in general (Versorgungsstärkungsgesetz). Part of the requirements is the creation of service stations for appointments (Terminservicestellen). Implementing reform would ensure faster appointments, leading to decreased waiting time. Implementation of these reforms is anticipated to offer significant opportunities for the Europe healthcare CRM market in Germany in the coming years.Additionally, in October 2020, with the adoption of the Digital Healthcare Act (DVG), Germany became the first nation to mandate the use of Healthcare Apps for prescriptions, a significant milestone for Medical Device Software. Further, the Federal Institute for Drugs and Medical Devices (BfArM) has approved two apps for medical prescriptions, promoting the healthcare software industry in Germany. Furthermore, in June 2022, ResMed, a medical device company, announced its plans to acquire MediFox Dan, a Germany-based health-software company, to expand its software-as-a-services business and expansion. Thus, the increasing need for patient management, medical scheduling, and streamlining patients propels the demand for healthcare CRM in hospitals and clinics in Germany.
Europe Healthcare CRM Market Segmentation
The Europe healthcare CRM market is categorized into deployment mode, product type, application, end user, and country.Based on deployment mode, the Europe healthcare CRM market is bifurcated cloud based and on-premise. The cloud based segment held a larger market share in 2022.
In terms of product type, the Europe healthcare CRM market is categorized into operational CRM, analytical CRM, and collaborative CRM. The operational CRM segment held the largest market share in 2022.
By application, the Europe healthcare CRM market is segmented into relationship management, case management, case coordination, community outreach, and others. The relationship management segment held the largest market share in 2022. The case management segment is further sub segmented into disease management and clinical trials relationship management. The case coordination segment is further sub segmented into patient information management and pre-authorizations / eligibility. The community outreach segment is further services outreach/promotion and community health education.
By end user, the Europe healthcare CRM market is segmented into providers, payers, and others. The providers segment held the largest market share in 2022.
By country, the Europe healthcare CRM market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe healthcare CRM market share in 2022.
International Business Machines Corp, IQVIA Holdings Inc, Microsoft Corp, Oracle Corp, Pegasystems Inc, Pipedrive Inc, Sage Group Plc, Salesforce Inc, SAP SE, ScienceSoft USA Corp, SugarCRM Inc, Veeva Systems Inc, and Zendesk Inc are among the leading companies operating in the Europe healthcare CRM market.
Table of Contents
Companies Mentioned
- International Business Machines Corp
- IQVIA Holdings Inc
- Microsoft Corp
- Oracle Corp
- Pegasystems Inc
- Pipedrive Inc
- Sage Group Plc
- Salesforce Inc
- SAP SE
- ScienceSoft USA Corp
- SugarCRM Inc
- Veeva Systems Inc
- Zendesk Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 149 |
Published | May 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 1.72 Billion |
Forecasted Market Value ( USD | $ 3.77 Billion |
Compound Annual Growth Rate | 10.3% |
Regions Covered | Europe |
No. of Companies Mentioned | 13 |