Healthcare CRM Market Size to Surpass US$ 25.8 Billion By 2030

According to Nova one advisor’s the global Healthcare CRM market size was estimated at USD 12.4 billion in 2021 and is expected to surpass around USD 25.8 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period 2022 to 2030.

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Key Takeaways:

• By Product, the North America Healthcare CRM market was valued at USD 6.9 Billion in 2021 and expected to witness growth at a CAGR of 8.3% from 2022 to 2030.
• Based on product, the individual CRM segment is expected to witness lucrative growth during the forecast period owing to the consolidation of hospitals and small healthcare providers which would increase the focus on direct-to-patient marketing to attract new patients. The combination of individual and referral CRM is expected to be the leading segment during the forecast period
• Based on application, the service outreach segment is expected to be the major segment during the forecast period. Case management and coordinated care are expected to show the highest growth owing to the rise in demand for collaborative care
• North America and Europe are expected to be the major regions for the growth of this industry. Emerging regions such as the Asia Pacific and MEA are expected to show lucrative growth during the forecast period owing to changing healthcare system and demand for collaborative care
• A common trend observed is the rising partnerships among market players for innovation by leveraging each other competencies. For instance, Salesforce expanded its presence in IT through the launch of the cloud, with the collaboration of major industry partners such as Centura Health, Philips, Deloitte Digital, and Accenture

Increasing demand for structured data and automation in a healthcare organization is projected to drive market growth. The demand for healthcare-based Customer Relationship Management (CRM) is expected to get influenced by technological advances in the field of communication and Information Technology (IT). Healthcare CRM solutions were used by laboratories, medical institutions, clinics, and hospitals, during the COVID-19 pandemic, for creating and tracking medical appointments. They were also used for managing processes as well as to update patients’ visits, medical history, and bills, among others. Therefore, the pandemic had a neutral effect on the market.

The rising demand for patients to get access to early treatment using home care, virtual care, mobile monitoring, and disease monitoring applications, is expected to promote lucrative market growth over the forecast period. The market caters to various needs of both; service providers and patients (payers) such as care coordination and management, communication services, database construction, predictive services, chronic disease management, and collaborative services. Furthermore, changing dynamics and strategies of hospitals worldwide due to the severe competition are anticipated to advance the approach of customer outreach and marketing techniques. The collaboration of the government with communities of patients, providers, and payers is expected to drive growth. Direct targeted marketing or the use of social marketing is expected to grow over the forecast period. Advantages of better integration of departments, reduced cost, increased patient satisfaction, and multi-facet benefits to the administrative staff are a few of the impact rendering drivers for the adoption of these systems.

Report Scope of the Healthcare CRM Market

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Regional Insights

North America dominated the market for healthcare CRM and held the largest revenue share of more than 55.4% in 2021 owing to excellent network and IT development in the region. The implementation of the Affordable Healthcare Act (2010) and supportive government initiatives such as health connect and e-health drives industry growth. In Asia Pacific, the market is expected to witness lucrative growth of around 9.9% over the forecast period owing to health care schemes drafted by the government agencies. Governments across the region are expected to spend USD 794.9 million on EHR/EMR systems by 2018 according to Wolters Kluwer.

Increasing focus on health care infrastructure and medical tourism within the region is anticipated to work towards the improvement of customer experience of the services and thereby promote growth. An increase in the aging population and rising incidence of chronic disease are expected to drive the growth of this market in Latin America. The lack of infrastructure in the public health system is driving the growth of private health management and insurance. An increase in spending, and rising population demands for improved medical services is expected to fuel the adoption of newer technologies in MEA.

Key Companies & Market Share Insights

The players are constantly involved in strategic collaborations. In September 2021, Salesforce launched the health cloud 2.0, a connected platform for delivering better safety and health for customers, communities, and employees. Industry players such as IBM, Microsoft, and SAP are now focusing more on cognitive technology and artificial intelligence to enhance the patient experience and gain a major share in the market. Some of the prominent players in the healthcare CRM market include:

• Amdocs Ltd
• Microsoft
• Cerner Corporation (Oracle)
• IBM
• SAP
• Accenture Plc
• Allscripts Healthcare Solutions Inc.
• Siemens Healthcare
• Salesforce.com
• Aspect Software
• Talisma
• Nice Systems
• Verint Systems
• Veeva
• Accretive Health Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Healthcare CRM market

• Product
  • Individual healthcare CRM
  • Referral healthcare CRM
  • Individual and referral healthcare CRM
• Application
  • Community outreach
    • Community health education
    • Service outreach/promotion
    • Financial donor management
  • Case coordination
    • Patient information management
    • Pre-authorizations/eligibility
    • Referrals
    • Others
  • Case management
    • Chronic disease management
    • Clinical trials relationship management
  • Relationship management
• Technology
  • Cloud-based
  • Mobile
  • Social
  • Collaborative
  • Predictive
• End-use
  • Payers
  • Providers
  • Life Sciences

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Healthcare CRM market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Healthcare CRM market

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