The global healthcare CRM market size reached US$ 15.7 Billion in 2023. Looking forward, the market is projected to reach US$ 42.3 Billion by 2032, exhibiting a growth rate (CAGR) of 11.64% during 2023-2032. The market is experiencing steady growth driven by the rising prevalence of chronic diseases, such as diabetes, cardiovascular disorders, arthritis, and respiratory issues, increasing focus on improving patient care, and the integration of various advanced technologies.
They also benefit in customizing patient management plans for enhanced ease. Besides this, CRM automation is time-saving as it automates the entire schedule management process. Furthermore, the increasing adoption of cloud-based healthcare solutions to improve patient data security is supporting the market growth. Moreover, CRM offers a hassle-free medical experience by offering a chance to review past reports of a patient.
They also reduce the need for extensive manual documentation guidance and enable hospital staff to access patient information while increasing patient engagement in the treatment process. Apart from this, the rising adoption of CRM for healthcare industry, as it reduces the risks of medical errors due to lower manual intervention, is propelling the growth of the market.
AI can also analyze electronic health records (EHRs) to provide doctors and nurses with vital insights, predict diseases, and assist in prescribing the most effective medication. Besides this, natural language processing (NLP) and AI can be used to speed up the record-keeping process so that healthcare professionals can spend much of their time connecting with their patients rather than completing numerous administrative tasks.
The report has provided a detailed breakup and analysis of the market based on the product. This includes individual, referral, and individual and referral. According to the report, individual and referral represented the largest segment.
Various healthcare CRM combine individual and referral to offer comprehensive solutions. They offer enhanced services to patients and optimize different workflows efficiently. They aid in managing patient relationships and improving their referral processes. This approach is usually suitable for larger healthcare organizations.
CRM in healthcare industry for individual focuses on direct relationship between healthcare provider and individual patients. Moreover, it assists in improving satisfaction and loyalty among individuals. It supports the concept of patient-centric care and allows hospitals to focus more on patients to meet their needs and expectations, improve service quality (SQ), and build long-term relationships.
Referral facilitates the efficient management of patient referrals between healthcare professionals and organizations. In addition, a CRM system with referral management capabilities can enhance collaboration and communication between different healthcare entities and benefit in streamlining various processes.
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes community outreach, case coordination, case management, and relationship management. According to the report, community outreach accounted for the largest market share.
Community outreach is vital in healthcare organizations as it helps in connecting closely with the public and gaining valuable insights. It benefits health professionals by targeting certain segments of patients. Automated CRM technologies, such as appointment reminders, are used across most medical groups, hospitals, and health systems. These technologies allow healthcare providers to save time and money by scaling their patient outreach strategies. In addition to increasing patient volume, data can also be used in value-based reimbursement programs to refine patient outreach initiatives, thereby enhancing community health and wellness.
Case coordination involves managing multiple providers and ensuring that members receive the right care at the right time while reducing duplication of services. CRM allows for seamless collaboration between payers, providers, and members.
Case management includes features for managing patient records, appointments, treatment plans, billing, and scheduling and communication among healthcare team members to ensure that patients receive comprehensive and coordinated care. It helps healthcare providers and professionals to track and coordinate the care of individual patients efficiently. It is generally useful in settings where patients may require ongoing or complex care, such as chronic illness management or long-term rehabilitation.
Relationship management in healthcare means managing the interaction of organizations with their patients and their supporting infrastructure, suppliers, and providers. It benefits in enhancing patient experience, improving population health, reducing costs, and balancing the work life of healthcare providers, leading to increased trust and loyalty to the organization.
The report has provided a detailed breakup and analysis of the market based on the technology. This includes cloud-based, mobile, social, collaborative, and predictive. According to the report, cloud-based represented the largest segment.
Cloud-based CRM system is designed to meet the needs of organizations providing healthcare. It provides robust functionality and customization capabilities and allows organizations to effectively manage patient relationships, services, and operations. It enables users to gain access to powerful analytics tools and automation capabilities that allow them to quickly respond to changing demands in the healthcare industry. Cloud-based CRM systems also provide an added layer of security by regularly backing up data while ensuring availability in the event of a malicious attack or natural disaster.
Mobile health apps enable payers to provide members with access to their health information, including care plans, medication reminders, and virtual visits, on-the-go. These apps aid in improving member engagement and care coordination. They are user-friendly and offer secure access, protects patient data, and includes features like secure messaging or telehealth capabilities for immediate communication.
Social CRM offers a new way of managing relationships with patients effectively. Social CRM technologies provide a chance for patients to manage their health care, through communications with their fellow patients, which brings a sense of belonging and support.
A collaborative CRM enables the healthcare organization to manage various communication channels with its client base. It helps simplify healthcare workflows by allowing different members of the healthcare team to communicate and collaborate more easily. The collaborative CRM analyzes the data gathered from multiple platforms and benefits in understanding characteristics of patients. Moreover, the rising focus on personalized communication strategies is propelling the market growth.
Predictive analytics in healthcare uses ML techniques and statistical algorithms to process real time and historical patient data and discern patterns, trends, and associations for accurate predictions of individual health outcomes. It helps healthcare providers make decisions not just based on their expertise but also on actual data. It provides enhanced care for patients, smooth operations, and smarter use of resources.
The report has provided a detailed breakup and analysis of the market based on the end use. This includes payers, providers, and life science companies. According to the report, payers represented the largest segment.
CRM in healthcare allows payers to improve profitability and patient satisfaction. Payers are investing in systems that help them manage information about policy details, payment history, and claims of individual patients.
CRM system in healthcare allows providers to facilitate more personalized care for patients. These systems enable providers to streamline several internal operations and manage relationships with other stakeholders.
Life science companies encompass biotechnology and pharmaceuticals. CRM is helpful for nurturing and finalizing healthcare provider contracts or agreements with other healthcare organizations. CRM systems are also helpful for maintaining regulatory compliance. These systems enable multiple benefits for life sciences organizations, especially in increasing their revenues.
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share due to the widespread adoption of telehealth and interoperability solutions. In addition, the increasing prevalence of numerous diseases among the masses in the region is propelling the market growth.
Asia Pacific stands as another key region in the market, driven by the rising adoption of healthcare IT solutions among individuals. Besides this, the increasing focus on remote patient monitoring is contributing to the market growth.
Europe maintains a strong presence in the market, with the rising awareness among individuals about mobile health solutions. Apart from this, the growing demand for healthcare CRM due to the increasing geriatric population is offering a positive market outlook.
Latin America exhibits the growing potential in the market on account of the rising incidences of chronic diseases among the masses. In addition, the escalating demand for healthcare CRM due to increasing focus on enhancing patient care is supporting the market growth.
The Middle East and Africa region is primarily driven by the improving healthcare infrastructure. Besides this, the rising investments in advanced healthcare solutions are strengthening the market growth in the region.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided.
2. What is the expected growth rate of the global healthcare CRM market during 2024-2032?
3. What are the key factors driving the global healthcare CRM market?
4. What has been the impact of COVID-19 on the global healthcare CRM market?
5. What is the breakup of the global healthcare CRM market based on the product?
6. What is the breakup of the global healthcare CRM market based on the application?
7. What is the breakup of the global healthcare CRM market based on technology?
8. What is the breakup of the global healthcare CRM market based on the end use?
9. What are the key regions in the global healthcare CRM market?
10. Who are the key players/companies in the global healthcare CRM market?
Healthcare CRM Market Analysis
- Market Growth and Size: The market is witnessing strong growth on account of the increasing need for cost-effective healthcare solutions, along with the rising focus on lowering manual administrative tasks.
- Technological Advancements: The integration of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and data analytics, for enhanced patient experience is supporting the market growth.
- Industry Applications: CRM finds applications in community outreach, case coordination, case management, and relationship management.
- Geographical Trends: North America leads the market, driven by the widespread adoption of telehealth and interoperability solutions. However, Asia Pacific is emerging as a fast-growing market due to the increasing adoption of healthcare IT solutions among individuals.
- Competitive Landscape: Key players are introducing innovative technologies to provide enhanced health and safety to individuals by streamlining various processes.
- Challenges and Opportunities: While the market faces challenges, such as maintaining privacy compliance, it also encounters opportunities on account of stringent regulatory compliance for patient data.
- Future Outlook: The future of the healthcare CRM market looks promising, with the rising need for personalized treatment solutions among individuals. In addition, the increasing demand for remote healthcare solutions is expected to bolster the market growth.
Healthcare CRM Market Trends
Increasing prevalence of chronic diseases
The growing demand for healthcare CRM on account of the rising prevalence of chronic diseases, such as diabetes, cardiovascular disorders, arthritis, and respiratory issues, among the masses across the globe is offering a positive market outlook. Moreover, a healthcare organization has patients with different health issues, and managing the needs of numerous patients is a time-consuming task. CRM solutions assist in storing vital information and providing a comprehensive overview of the appointments, medical history, and claims of patients. These solutions strengthen the delivery of healthcare services by improving accounting management processes and operational planning.They also benefit in customizing patient management plans for enhanced ease. Besides this, CRM automation is time-saving as it automates the entire schedule management process. Furthermore, the increasing adoption of cloud-based healthcare solutions to improve patient data security is supporting the market growth. Moreover, CRM offers a hassle-free medical experience by offering a chance to review past reports of a patient.
Rising focus on improving patient care
The increasing demand for healthcare CRM to improve patient care is contributing to the growth of the market. CRM systems enhance patient treatment quality by providing more accessible and controlled patient management. They also enable healthcare professionals to access accurate and up-to-date information, leading to more accurate diagnoses and personalized treatment approaches for individuals. They can integrate emergency care, therapy, and diagnosis management, resulting in more effective outcomes and patient satisfaction. In line with this, they aid in minimizing waiting times and generating valuable predictions related to patient stay, retention rates, and real time statistics.They also reduce the need for extensive manual documentation guidance and enable hospital staff to access patient information while increasing patient engagement in the treatment process. Apart from this, the rising adoption of CRM for healthcare industry, as it reduces the risks of medical errors due to lower manual intervention, is propelling the growth of the market.
Technological advancements
The integration of advanced technologies, such as AI, ML, data analytics, and predictive analytics, in healthcare CRM is bolstering the growth of the market. ML algorithms provide vital insights from large medical data sets to facilitate improved decision-making and patient outcomes. ML is also used to enhance the security of patient data by securing it from unwanted access and other threats. In line with this, AI can track all kinds of malicious activity, such as potential hacks or suspicious accesses, helping monitor vulnerable activities and relevant leads.AI can also analyze electronic health records (EHRs) to provide doctors and nurses with vital insights, predict diseases, and assist in prescribing the most effective medication. Besides this, natural language processing (NLP) and AI can be used to speed up the record-keeping process so that healthcare professionals can spend much of their time connecting with their patients rather than completing numerous administrative tasks.
Healthcare CRM Industry Segmentation
This report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The report has categorized the market based on product, application, technology, and end use.Breakup by Product:
- Individual
- Referral
- Individual and Referral
The report has provided a detailed breakup and analysis of the market based on the product. This includes individual, referral, and individual and referral. According to the report, individual and referral represented the largest segment.
Various healthcare CRM combine individual and referral to offer comprehensive solutions. They offer enhanced services to patients and optimize different workflows efficiently. They aid in managing patient relationships and improving their referral processes. This approach is usually suitable for larger healthcare organizations.
CRM in healthcare industry for individual focuses on direct relationship between healthcare provider and individual patients. Moreover, it assists in improving satisfaction and loyalty among individuals. It supports the concept of patient-centric care and allows hospitals to focus more on patients to meet their needs and expectations, improve service quality (SQ), and build long-term relationships.
Referral facilitates the efficient management of patient referrals between healthcare professionals and organizations. In addition, a CRM system with referral management capabilities can enhance collaboration and communication between different healthcare entities and benefit in streamlining various processes.
Breakup by Application:
- Community Outreach
- Case Coordination
- Case Management
- Relationship Management
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes community outreach, case coordination, case management, and relationship management. According to the report, community outreach accounted for the largest market share.
Community outreach is vital in healthcare organizations as it helps in connecting closely with the public and gaining valuable insights. It benefits health professionals by targeting certain segments of patients. Automated CRM technologies, such as appointment reminders, are used across most medical groups, hospitals, and health systems. These technologies allow healthcare providers to save time and money by scaling their patient outreach strategies. In addition to increasing patient volume, data can also be used in value-based reimbursement programs to refine patient outreach initiatives, thereby enhancing community health and wellness.
Case coordination involves managing multiple providers and ensuring that members receive the right care at the right time while reducing duplication of services. CRM allows for seamless collaboration between payers, providers, and members.
Case management includes features for managing patient records, appointments, treatment plans, billing, and scheduling and communication among healthcare team members to ensure that patients receive comprehensive and coordinated care. It helps healthcare providers and professionals to track and coordinate the care of individual patients efficiently. It is generally useful in settings where patients may require ongoing or complex care, such as chronic illness management or long-term rehabilitation.
Relationship management in healthcare means managing the interaction of organizations with their patients and their supporting infrastructure, suppliers, and providers. It benefits in enhancing patient experience, improving population health, reducing costs, and balancing the work life of healthcare providers, leading to increased trust and loyalty to the organization.
Breakup by Technology:
- Cloud-based
- Mobile
- Social
- Collaborative
- Predictive
The report has provided a detailed breakup and analysis of the market based on the technology. This includes cloud-based, mobile, social, collaborative, and predictive. According to the report, cloud-based represented the largest segment.
Cloud-based CRM system is designed to meet the needs of organizations providing healthcare. It provides robust functionality and customization capabilities and allows organizations to effectively manage patient relationships, services, and operations. It enables users to gain access to powerful analytics tools and automation capabilities that allow them to quickly respond to changing demands in the healthcare industry. Cloud-based CRM systems also provide an added layer of security by regularly backing up data while ensuring availability in the event of a malicious attack or natural disaster.
Mobile health apps enable payers to provide members with access to their health information, including care plans, medication reminders, and virtual visits, on-the-go. These apps aid in improving member engagement and care coordination. They are user-friendly and offer secure access, protects patient data, and includes features like secure messaging or telehealth capabilities for immediate communication.
Social CRM offers a new way of managing relationships with patients effectively. Social CRM technologies provide a chance for patients to manage their health care, through communications with their fellow patients, which brings a sense of belonging and support.
A collaborative CRM enables the healthcare organization to manage various communication channels with its client base. It helps simplify healthcare workflows by allowing different members of the healthcare team to communicate and collaborate more easily. The collaborative CRM analyzes the data gathered from multiple platforms and benefits in understanding characteristics of patients. Moreover, the rising focus on personalized communication strategies is propelling the market growth.
Predictive analytics in healthcare uses ML techniques and statistical algorithms to process real time and historical patient data and discern patterns, trends, and associations for accurate predictions of individual health outcomes. It helps healthcare providers make decisions not just based on their expertise but also on actual data. It provides enhanced care for patients, smooth operations, and smarter use of resources.
Breakup by End Use:
- Payers
- Providers
- Life Science Companies
The report has provided a detailed breakup and analysis of the market based on the end use. This includes payers, providers, and life science companies. According to the report, payers represented the largest segment.
CRM in healthcare allows payers to improve profitability and patient satisfaction. Payers are investing in systems that help them manage information about policy details, payment history, and claims of individual patients.
CRM system in healthcare allows providers to facilitate more personalized care for patients. These systems enable providers to streamline several internal operations and manage relationships with other stakeholders.
Life science companies encompass biotechnology and pharmaceuticals. CRM is helpful for nurturing and finalizing healthcare provider contracts or agreements with other healthcare organizations. CRM systems are also helpful for maintaining regulatory compliance. These systems enable multiple benefits for life sciences organizations, especially in increasing their revenues.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share due to the widespread adoption of telehealth and interoperability solutions. In addition, the increasing prevalence of numerous diseases among the masses in the region is propelling the market growth.
Asia Pacific stands as another key region in the market, driven by the rising adoption of healthcare IT solutions among individuals. Besides this, the increasing focus on remote patient monitoring is contributing to the market growth.
Europe maintains a strong presence in the market, with the rising awareness among individuals about mobile health solutions. Apart from this, the growing demand for healthcare CRM due to the increasing geriatric population is offering a positive market outlook.
Latin America exhibits the growing potential in the market on account of the rising incidences of chronic diseases among the masses. In addition, the escalating demand for healthcare CRM due to increasing focus on enhancing patient care is supporting the market growth.
The Middle East and Africa region is primarily driven by the improving healthcare infrastructure. Besides this, the rising investments in advanced healthcare solutions are strengthening the market growth in the region.
Leading Key Players in the Healthcare CRM Industry:
Key players are introducing innovative technologies to provide enhanced health and safety to individuals by streamlining various processes. They are engaging in partnerships and collaborations to offer improved healthcare facilities to a wide range of individuals across the globe. In addition, major players are introducing platforms that allow users to schedule and launch virtual appointments that benefit in eliminating physical barriers while enhancing patient convenience and satisfaction. Apart from this, they are integrating advanced technologies, such as AI, the Internet of Things (IoT), data analytics, NLP, and ML. These technologies benefit healthcare providers for improved decision-making regarding the care of patients.The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided.
Some of the key players in the market include:
- Accenture Plc
- AllScripts Healthcare Solutions Inc
- Amdocs
- Aspect Software Inc
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com inc
- SAP SE
- Siemens Healthineers AG (Siemens AG)
Latest News:
- September 21, 2021: Salesforce.com inc announced Health Cloud 2.0, technology designed to empower businesses and governments to deliver better health and safety for their employees, customers, and communities.
- August 14, 2023: Siemens Healthineers AG (Siemens AG) and SSM Health announced a new 10-year strategic partnership agreement focused on expanding access to high-quality care and training the next generation of health care workers. Siemens Healthineers will provide SSM Health with access to the latest innovations and best practices in diagnostic imaging and advanced technology and software.
- September 5, 2023: Accenture Plc acquired Nautilus Consulting, a leading digital healthcare consultancy in the U.K. that specializes in electronic patient record (EPR) solutions. The acquisition will enhance the digital transformation, implementation, and optimization capabilities of Accenture across the U.K. and global healthcare space.
Key Questions Answered in This Report
1. What was the size of the global healthcare CRM market in 2023?2. What is the expected growth rate of the global healthcare CRM market during 2024-2032?
3. What are the key factors driving the global healthcare CRM market?
4. What has been the impact of COVID-19 on the global healthcare CRM market?
5. What is the breakup of the global healthcare CRM market based on the product?
6. What is the breakup of the global healthcare CRM market based on the application?
7. What is the breakup of the global healthcare CRM market based on technology?
8. What is the breakup of the global healthcare CRM market based on the end use?
9. What are the key regions in the global healthcare CRM market?
10. Who are the key players/companies in the global healthcare CRM market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Healthcare CRM Market
6 Market Breakup by Product
7 Market Breakup by Application
8 Market Breakup by Technology
9 Market Breakup by End Use
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accenture Plc
- AllScripts Healthcare Solutions Inc
- Amdocs
- Aspect Software Inc
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com inc
- SAP SE
- Siemens Healthineers AG (Siemens AG)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 15.7 Billion |
| Forecasted Market Value ( USD | $ 42.3 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
