Pharma and Biotech CRM Software Global Market Report 2024

The pharma and biotech CRM software market size has grown rapidly in recent years. It will grow from $6.26 billion in 2023 to $7.39 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth observed in the historical period can be attributed to several factors, including a transition towards a customer-centric approach, the expansion of sales and marketing channels, heightened demand for data analytics, a greater emphasis on efficiency and productivity, and a focus on enhancing the overall customer experience.

The pharma and biotech CRM software market size is expected to see rapid growth in the next few years. It will grow to $14.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The anticipated growth in the forecast period can be attributed to several key factors, including the emphasis on AI-powered customer insight, the expansion of virtual engagement solutions, integration with the healthcare ecosystem, ensuring compliance and data security, and the increasing demand for mobile and remote access. Major trends expected to shape the forecast period include the proliferation of AI-powered customer insights, predictive analytics tailored for healthcare providers, the adoption of a patient-centric approach, the rise of virtual engagement solutions, and a heightened focus on digital marketing strategies.

The escalating demand for personalized medicine is set to drive the growth of the pharma and biotech CRM software market in the foreseeable future. Personalized medicine, a healthcare approach tailored to individual patients based on their genetic makeup, environmental factors, and lifestyle, is gaining traction due to the rising prevalence of chronic diseases and cancer among populations. This growing demand for customized medical solutions necessitates the utilization of pharma and biotech CRM software to efficiently manage patient data, track treatment outcomes, and facilitate personalized healthcare delivery. For instance, as reported by the Personalized Medicine Coalition, 12 new personalized medications were approved in 2022, constituting approximately 34% of all newly approved treatments, signifying a substantial increase compared to previous years. Consequently, the surge in demand for personalized medicine emerges as a key driver propelling the growth of the pharma and biotech CRM software market.

Leading players in the pharma and biotech CRM software market are increasingly integrating artificial intelligence (AI) and machine learning capabilities into their platforms, such as the AI-powered personalized engagement platform, to cater to the evolving needs of the pharmaceutical and biotechnology sectors. AI-powered personalized engagement empowers companies to deliver targeted and relevant messaging to healthcare professionals (HCPs), patients, and other stakeholders. For instance, in October 2023, Salesforce, Inc., a prominent US-based provider of cloud-based software solutions, unveiled its life sciences cloud, designed to streamline patient engagement and clinical operations through data-driven automation and trusted AI. This innovative solution enables pharmaceutical and medical technology organizations to enhance patient engagement, optimize clinical operations, manage commercial lifecycles, and deliver personalized stakeholder experiences throughout the drug and device development journey.

In January 2024, Nomadia, a France-based provider of cloud-based SaaS solutions, acquired Nomadvantage for an undisclosed sum. This strategic acquisition underscores Nomadia's commitment to expanding its portfolio of cloud-based SaaS solutions and bolstering its market presence. Nomadvantage, also based in France, specializes in customer relations management software tailored to the healthcare and pharmaceutical industries, aligning with Nomadia's strategic vision to offer comprehensive solutions to meet the evolving needs of its clients in these sectors.

Major companies operating in the pharma and biotech crm software market are Oracle Corporation, Salesforce.com Inc., IQVIA Holdings Inc., Trueblue Inc., Cirrius Solutions Inc., Veeva Systems Inc., Aurea Software Inc., Indegene Private Limited, Close-Up International Limited, Interactive Medica S.A., StayinFront Inc., Axtria Inc., Navicon Consulting LLC, Aktana Inc., Bpmonline, AKA Enterprise Solutions LLC, Anthill Agency Ltd., Media-Soft Inc., Zephyr Health Inc., Synergistix Inc., Euris S.A., Inova Software Inc., Prolifiq Software Inc., Infonis International Corp., Ivy Software Development Services Pvt. Ltd.

North America was the largest region in the pharma and biotech CRM software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharma and biotech crm software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pharma and biotech crm software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pharma and biotech CRM software is a specialized solution tailored to aid pharmaceutical and biotech companies in effectively managing customer relationships, data, and interactions. This tool is instrumental in facilitating a seamless and personalized customer experience, empowering organizations to nurture stronger relationships by gaining comprehensive insights into customer interactions.

The primary technology categories for pharma and biotech CRM software encompass artificial intelligence customer relationship management (CRM) and conventional customer relationship management (CRM). AI-driven CRM software for pharma and biotech leverages artificial intelligence and machine learning algorithms to analyze customer data, deliver valuable insights, and automate various tasks. These software solutions are deployed via on-premises or cloud-based models, catering to the needs of both large enterprises and small to medium enterprises (SMEs) operating within the pharmaceutical and biotech industries.

The pharma and biotech CRM software market research report is one of a series of new reports that provides pharma and biotech CRM software market statistics, including pharma and biotech CRM software industry global market size, regional shares, competitors with a pharma and biotech CRM software market share, detailed pharma and biotech CRM software market segments, market trends and opportunities, and any further data you may need to thrive in the pharma and biotech CRM software industry. This pharma and biotech CRM software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pharma and biotech CRM software market consists of revenues earned by entities through services such as customer relationship management, sales force automation, marketing automation, mobile and remote access, and integration with the healthcare ecosystem. The market value includes the value of related goods sold by the service provider or included within the service offering. The pharma and biotech CRM market also includes sales of lead management software, email marketing software, call centre software, event management software, and training and education software. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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