CRM in Healthcare Market to grow by USD 8.01 billion from 2022 to 2027|The growing adoption of cloud-based CRM solutions is an emerging trend supporting market growth - Technavio

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Oct 26, 2023, 22:00 ET

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- The CRM in healthcare market is set to grow by USD 8.01 billion from 2022 to 2027, progressing at a CAGR of 8.85% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing adoption of cloud-based CRM solutions is an emerging trend supporting market growth. Cloud-based CRM solutions have different benefits over traditional on-premise models, such as scalability, flexibility, and cost-effectiveness. Moreover, the use of cloud-based solutions helps healthcare practitioners manage patient relationships and access patient data from any location, time, and device. This is really important for remote and virtual patient care, which has advanced since the outbreak of the COVID-19 pandemic. Also, Cloud-based solutions deliver cutting-edge privacy and security attributes that help in protecting sensitive patient data. Therefore, these solutions are expected to play an important role in propelling the growth of global customer relationship management (CRM) in the healthcare market during the forecast period. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

Technavio has announced its latest market research report titled Global CRM in Healthcare Market 2023-2027

The CRM in healthcare market covers the following areas:

The report on the CRM in healthcare market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

CRM In Healthcare Market 2023-2027 - Market Dynamics

Major Drivers

The growing demand for personalized healthcare services and patient engagement solutions is the major factor driving the market growth. With the increasing need for personalized healthcare services and patient engagement solutions, global customer relationship management in the healthcare market is fueled. Moreover, healthcare practitioners use CRM solutions to access and analyze patient data and develop individualized treatment programs. Also, CRM allows for identifying patient requirements and preferences, communicating with patients more efficiently, and enhancing patient outcomes. As a result, the requirement for CRM solutions in the healthcare sector has advanced, as providers are functioning on enhancing the quality and significance of service while fulfilling the needs and expectations of patients. This, in turn, is anticipated to boost the growth of the market during the forecast period.

Significant Challenge

High implementation costs and lack of interoperability with legacy systems may hinder market growth. Significant resources, time, and costs are required to implement a CRM solution. However, verifying that the CRM system is interoperable with existing legal systems is complex and time-consuming for healthcare organizations. Due to low compatibility with legacy systems and high deployment costs, healthcare providers face challenges. Data silos and inefficiencies make it challenging for patient data to be shared between systems along with healthcare organizations to provide a consistent view of patient data, which may have an adverse impact on patient treatment and outcomes. Thus, the lack of interoperability with legacy systems and high implementation costs may hinder the growth of CRM in the healthcare market growth during the forecast period.

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CRM In Healthcare Market 2023-2027: Market Segmentation

The CRM in healthcare market segmentation by component (software and services), deployment (on-premise model and cloud-based model), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by the software segment will be significant during the forecast period. Global customer relationship management in the healthcare sector has been experiencing a major increase due to the increasing use of modern technologies in this sector. The software is helping to manage patient data, improve the involvement of patients and enhance communication with healthcare professionals. The increasing use of software as a component in customer relationship management in the healthcare market is attributed to the emergence of cloud-based solutions and the rising need for personalized healthcare services. The rising need for effective data management and legal compliance is also propelling the growth of the segment. Thus, prospects for the growth of the market are anticipated to be significant during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

Accenture Plc
ALLSCRIPTS HEALTHCARE SOLUTIONS INC.
Amdocs Ltd.
Anthology Inc.
Freshworks Inc.
Healthgrades Marketplace LLC
International Business Machines Corp.
Kapture CRM
Koch Industries Inc.
Microsoft Corp.
Oracle Corp.
Salesforce Inc.
SAP SE
Sapio Sciences LLC
Siemens AG
SugarCRM Inc.
Verint Systems Inc.
Viseven Europe OU
Keona Health Inc.
NICE Ltd.

Vendor Offerings

Accenture Plc - The company offers CRM in healthcare such as the Accenture Health Experience Platform, enabling personalized patient experience and improving healthcare outcomes.
ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - The company offers CRM in healthcare such as Allscripts Patient Relationship Management, providing patient engagement and outreach for healthcare organizations.
Amdocs Ltd. - The company offers CRM in healthcare such as Amdocs CRM for Healthcare, a comprehensive solution for patient engagement and care coordination.

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CRM in Healthcare Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.85%
Market growth 2023-2027	USD 8.01 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.31
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 53%
Key countries	US, Canada, Germany, UK, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Accenture Plc, ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Amdocs Ltd., Anthology Inc., Freshworks Inc., Healthgrades Marketplace LLC, International Business Machines Corp., Kapture CRM, Koch Industries Inc., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, Sapio Sciences LLC, Siemens AG, SugarCRM Inc., Verint Systems Inc., Viseven Europe OU, Keona Health Inc., and NICE Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global CRM in healthcare market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on global CRM in healthcare market 2017 - 2021 (USD billion)

4.2 Component Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 (USD billion)

4.3 Deployment Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 (USD billion)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD billion)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD billion)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

6.1 Market segments

Exhibit 30: Chart on Component - Market share 2022-2027 (%)
Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

6.2 Comparison by Component

Exhibit 32: Chart on Comparison by Component
Exhibit 33: Data Table on Comparison by Component

6.3 Software - Market size and forecast 2022-2027

Exhibit 34: Chart on Software - Market size and forecast 2022-2027 (USD billion)
Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 (USD billion)
Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)

6.4 Services - Market size and forecast 2022-2027

Exhibit 38: Chart on Services - Market size and forecast 2022-2027 (USD billion)
Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 (USD billion)
Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Component

Exhibit 42: Market opportunity by Component (USD billion)
Exhibit 43: Data Table on Market opportunity by Component (USD billion)

7 Market Segmentation by Deployment

7.1 Market segments

Exhibit 44: Chart on Deployment - Market share 2022-2027 (%)
Exhibit 45: Data Table on Deployment - Market share 2022-2027 (%)

7.2 Comparison by Deployment

Exhibit 46: Chart on Comparison by Deployment
Exhibit 47: Data Table on Comparison by Deployment

7.3 On-premise model - Market size and forecast 2022-2027

Exhibit 48: Chart on On-premise model - Market size and forecast 2022-2027 (USD billion)
Exhibit 49: Data Table on On-premise model - Market size and forecast 2022-2027 (USD billion)
Exhibit 50: Chart on On-premise model - Year-over-year growth 2022-2027 (%)
Exhibit 51: Data Table on On-premise model - Year-over-year growth 2022-2027 (%)

7.4 Cloud-based model - Market size and forecast 2022-2027

Exhibit 52: Chart on Cloud-based model - Market size and forecast 2022-2027 (USD billion)
Exhibit 53: Data Table on Cloud-based model - Market size and forecast 2022-2027 (USD billion)
Exhibit 54: Chart on Cloud-based model - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Cloud-based model - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Deployment

Exhibit 56: Market opportunity by Deployment (USD billion)
Exhibit 57: Data Table on Market opportunity by Deployment (USD billion)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 59: Chart on Market share by geography 2022-2027 (%)
Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 63: Chart on North America - Market size and forecast 2022-2027 (USD billion)
Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 (USD billion)
Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 (USD billion)
Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 (USD billion)
Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027

Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 (USD billion)
Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 (USD billion)
Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 75: Chart on South America - Market size and forecast 2022-2027 (USD billion)
Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 (USD billion)
Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD billion)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD billion)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 83: Chart on US - Market size and forecast 2022-2027 (USD billion)
Exhibit 84: Data Table on US - Market size and forecast 2022-2027 (USD billion)
Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 Canada - Market size and forecast 2022-2027

Exhibit 87: Chart on Canada - Market size and forecast 2022-2027 (USD billion)
Exhibit 88: Data Table on Canada - Market size and forecast 2022-2027 (USD billion)
Exhibit 89: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on Canada - Year-over-year growth 2022-2027 (%)

9.10 Germany - Market size and forecast 2022-2027

Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 (USD billion)
Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 (USD billion)
Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.11 UK - Market size and forecast 2022-2027

Exhibit 95: Chart on UK - Market size and forecast 2022-2027 (USD billion)
Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 (USD billion)
Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.12 France - Market size and forecast 2022-2027

Exhibit 99: Chart on France - Market size and forecast 2022-2027 (USD billion)
Exhibit 100: Data Table on France - Market size and forecast 2022-2027 (USD billion)
Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 103: Market opportunity by geography (USD billion)
Exhibit 104: Data Tables on Market opportunity by geography (USD billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 105: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 107: Overview on factors of disruption

11.4 Industry risks

Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 109: Vendors covered

12.2 Market positioning of vendors

Exhibit 110: Matrix on vendor position and classification

12.3 Accenture Plc

Exhibit 111: Accenture Plc - Overview
Exhibit 112: Accenture Plc - Business segments
Exhibit 113: Accenture Plc - Key offerings
Exhibit 114: Accenture Plc - Segment focus

12.4 ALLSCRIPTS HEALTHCARE SOLUTIONS INC.

Exhibit 115: ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - Overview
Exhibit 116: ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - Business segments
Exhibit 117: ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - Key news
Exhibit 118: ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - Key offerings
Exhibit 119: ALLSCRIPTS HEALTHCARE SOLUTIONS INC. - Segment focus

12.5 Amdocs Ltd.

Exhibit 120: Amdocs Ltd. - Overview
Exhibit 121: Amdocs Ltd. - Product / Service
Exhibit 122: Amdocs Ltd. - Key offerings

12.6 Anthology Inc.

Exhibit 123: Anthology Inc. - Overview
Exhibit 124: Anthology Inc. - Product / Service
Exhibit 125: Anthology Inc. - Key offerings

12.7 Healthgrades Marketplace LLC

Exhibit 126: Healthgrades Marketplace LLC - Overview
Exhibit 127: Healthgrades Marketplace LLC - Product / Service
Exhibit 128: Healthgrades Marketplace LLC - Key offerings

12.8 International Business Machines Corp.

Exhibit 129: International Business Machines Corp. - Overview
Exhibit 130: International Business Machines Corp. - Business segments
Exhibit 131: International Business Machines Corp. - Key news
Exhibit 132: International Business Machines Corp. - Key offerings
Exhibit 133: International Business Machines Corp. - Segment focus

12.9 Keona Health Inc.

Exhibit 134: Keona Health Inc. - Overview
Exhibit 135: Keona Health Inc. - Product / Service
Exhibit 136: Keona Health Inc. - Key offerings

12.10 Koch Industries Inc.

Exhibit 137: Koch Industries Inc. - Overview
Exhibit 138: Koch Industries Inc. - Product / Service
Exhibit 139: Koch Industries Inc. - Key news
Exhibit 140: Koch Industries Inc. - Key offerings

12.11 Microsoft Corp.

Exhibit 141: Microsoft Corp. - Overview
Exhibit 142: Microsoft Corp. - Business segments
Exhibit 143: Microsoft Corp. - Key news
Exhibit 144: Microsoft Corp. - Key offerings
Exhibit 145: Microsoft Corp. - Segment focus

12.12 NICE Ltd.

Exhibit 146: NICE Ltd. - Overview
Exhibit 147: NICE Ltd. - Business segments
Exhibit 148: NICE Ltd. - Key news
Exhibit 149: NICE Ltd. - Key offerings
Exhibit 150: NICE Ltd. - Segment focus

12.13 Oracle Corp.

Exhibit 151: Oracle Corp. - Overview
Exhibit 152: Oracle Corp. - Business segments
Exhibit 153: Oracle Corp. - Key news
Exhibit 154: Oracle Corp. - Key offerings
Exhibit 155: Oracle Corp. - Segment focus

12.14 Salesforce Inc.

Exhibit 156: Salesforce Inc. - Overview
Exhibit 157: Salesforce Inc. - Product / Service
Exhibit 158: Salesforce Inc. - Key news
Exhibit 159: Salesforce Inc. - Key offerings

12.15 SAP SE

Exhibit 160: SAP SE - Overview
Exhibit 161: SAP SE - Business segments
Exhibit 162: SAP SE - Key news
Exhibit 163: SAP SE - Key offerings
Exhibit 164: SAP SE - Segment focus

12.16 Siemens AG

Exhibit 165: Siemens AG - Overview
Exhibit 166: Siemens AG - Business segments
Exhibit 167: Siemens AG - Key news
Exhibit 168: Siemens AG - Key offerings
Exhibit 169: Siemens AG - Segment focus

12.17 SugarCRM Inc.

Exhibit 170: SugarCRM Inc. - Overview
Exhibit 171: SugarCRM Inc. - Product / Service
Exhibit 172: SugarCRM Inc. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 173: Inclusions checklist
Exhibit 174: Exclusions checklist

13.3 Currency conversion rates for USUSD

Exhibit 175: Currency conversion rates for USUSD

13.4 Research methodology

Exhibit 176: Research methodology
Exhibit 177: Validation techniques employed for market sizing
Exhibit 178: Information sources

13.5 List of abbreviations

Exhibit 179: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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