Healthcare CRM Market Forecast 2023: Forecast Market Size, Drivers And Key Segments
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global healthcare CRM market has experienced remarkable growth, escalating from $15.13 billion in 2022 to $17.56 billion in 2023, marked by an impressive compound annual growth rate (CAGR) of 16.1%. As we look forward, the momentum continues, with an anticipated market size of $30.86 billion in 2027, fueled by a steady CAGR of 15.1%.
Driving Forces: Rising Number of CRM Systems
- Propelling Growth: The increasing adoption of CRM systems in hospitals and clinics is poised to be a key driver for the healthcare CRM market’s growth. These systems manage a comprehensive patient database securely, ensuring accessibility only to authorized personnel.
- Enhancing Patient Services: Patients can access necessary information via CRM Medical software through various channels, including text, call, or email. This accessibility ensures immediate services and solutions, ultimately boosting the overall efficiency of healthcare providers.
- Reduction in Administrative Errors: Implementation of CRM in healthcare, as highlighted by Aimprosoft, has led to a significant reduction in administrative errors, up to 30%.
- Complementary Role with EHR: CRMs complement Electronic Health Records (EHR) by offering unified communication capabilities and access to patient profiles during concurrent engagements, aligning with the trend of over 90% of hospitals using EHR in 2022.
Industry Leaders: Major Players Shaping the Landscape
In this dynamic market, major players play a pivotal role in steering the industry’s growth. Some of the significant entities in the healthcare CRM market include:
- Salesforce Inc.
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Infor Inc.
- Keona Health
- IBM Corporation
- Cerner Corporation
- Allscripts Healthcare LLC
- Sage Group plc
- Zoho Corporation Pvt. Ltd.
Technological Advancement: A Pervasive Trend
- Key Trend: Technological Development: The healthcare CRM market is witnessing a significant trend towards technological advancement, with major companies focusing on developing advanced solutions to enhance patient health and fortify their market position.
- Nuance Communications Inc.’s AI-powered Virtual Assistant Platform: In January 2021, Nuance Communications Inc. introduced a virtual assistant platform based on AI-powered patient engagement. This innovative platform transforms digital experiences and voice across the patient journey by assimilating critical systems, including patient financial systems, EHR, CRM, and telephony infrastructure.
Comprehensive Market Segmentation
The healthcare CRM market’s intricacies are reflected in its comprehensive segmentation, considering various components, technologies, deployment models, applications, and end-users:
- By Component
- By Technology
- Other Technologies
- By Deployment Model
- On-Premise Model
- Web or Cloud-based Model
- By Application
- Community Outreach
- Community Health Education
- Service Outreach or Promotion
- Financial Donor Management
- Case Coordination
- Patient Information Management
- Pre-Authorizations or Eligibility
- Other Applications
- By End-Users
- Life Science Industry
Regional Dynamics: North America’s Leading Role
- North America’s Significance: In 2022, North America emerged as the largest region in the healthcare CRM market, underscoring the region’s pivotal role in steering industry growth.
- Asia-Pacific’s Growth Trajectory: The Asia-Pacific region is expected to be the fastest-growing region in the forecast period, indicating the increasing significance of the market in this region.
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The Healthcare CRM Global Market Report 2023 provides a comprehensive overview on the healthcare CRM market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the healthcare CRM market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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