How Will The Healthcare CRM Market Grow In 2022?
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The healthcare CRM market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 14%, as per The Business Research Company’s market report!
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The Healthcare CRM Market Size In 2022 And Forecast
The global healthcare CRM market is expected to grow from $12.98 billion in 2021 to $15.04 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The healthcare CRM market is expected to grow to $25.65 billion in 2026 at a CAGR of 14.3%.
The healthcare CRM market consists of sales of healthcare CRM software and services by entities (organizations, sole traders, and partnerships) that are used to acquire, retain, and engage with patients and provide personalized services.
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Rise In Number Of CRM Systems In Hospitals And Clinics Is Driving The Growth Of The Healthcare CRM Market
For instance, in February 2021, according to Aimprosoft, a Ukraine-based healthcare software development company, the implementation of CRM in healthcare reduces administrative errors by up to 30%. Furthermore, according to an article published by Financesonline, a Poland-based platform for SaaS/B2B software and financial products reviews, in 2022, over 90% of hospitals will use electronic health records (EHR), where CRMs supplement EHR by offering and unifying communication capabilities for several concurrent patient engagements and giving users access to patient profiles. Therefore, the rising number of CRM in hospitals and clinics is driving the demand for the healthcare CRM market.
Competitive Landscape And The Regional Analysis Of The Healthcare CRM Market
Major players in the healthcare CRM market are Salesforce Inc, Microsoft Corporation, Oracle Corporation, SAP SE, SugarCRM Inc., Healthgrades Marketplace LLC, Infor Inc., Keona Health, Accenture, IBM Corporation, Cerner Corporation, Allscripts Healthcare LLC, Amdocs, Aspect Software, Siemens Healthcare GmbH, Talisma, NICE Systems, Verint Systems Inc., Veeva Systems, R1 RCM Inc., Pegasystems Inc., Sage Group plc, and Zoho Corporation Pvt. Ltd.
Additionally, as per TBRC’s research – North America was the largest region in the healthcare CRM market in 2021 holding the largest market share.
The Healthcare CRM Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the healthcare CRM market.
Technological Development – A Key Trend In The Healthcare CRM Market
Major companies operating in the healthcare CRM sector are focused on developing new technologically advanced solutions to improve patient health and strengthen their market position.
Healthcare CRM Market Segmentation By The Business Research Company
1) By Component: Software, Services
2) By Technology: Predictive, Mobile, Social, Collaborative, Other Technologies
3) By Deployment Model: On-Premise Model, Web or Cloud-based Model
4) 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
5) By End-Users: Providers, Payers, Life Science Industry
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