The global healthcare CRM market size is anticipated to rake US$ 36.79 billion by 2032 with a CAGR of 10% from 2023 to 2032.
Key Points
- By functionality, sales segment hit revenue share of around 21% in 2022.
- By deployment mode, cloud/web-based segment has contributed highest revenue share in 2022.
- By end use, healthcare providers segment has accounted revenue share of around 44%.
- North America held 51% market share in 2022.
The global health care CRM market is driven by various factors such as growing penetration of internet, rising adoption of the smartphones, rising penetration of the delivery platforms, and rising demand for the conveniences associated with the software. The rising disposable income, growing urban population, favorable government regulations, ease of doing business, and improved infrastructure that favors quick results are the major factors that has augmented the growth of the global health care CRM market.
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Report Highlights
- Based on the type, the independent kitchens dominated the market, garnering a market share of around 60% in 2020. This is attributed to the rapid increase in the number of standalone kitchen across the globe. Moreover, the rising number of fast food outlets especially in the developing regions has significantly driven the growth of this segment.
- Based on the nature, the standalone is estimated to be the most opportunistic segment during the forecast period. This is attributed to the higher profitability, ease of operations, low operational costs, and improved infrastructure that favors the growth of the standalone cloud kitchens.
Regional Snapshot
North America garnered a market share of over 30% and dominated the global health care CRM market in 2020. The need for digital signage, the evolution of innovative products such as home monitoring systems, leak detection systems is significantly growing. Therefore, during the forecast period, the North American healthcare CRM market is expected to experience positive market growth. The North American healthcare RM market is expected to grow steadily during the forecast period owing to the increasing demand for automation for documentation purposes and the need for a single platform for information exchange. The adoption of healthcare CM is likely to be driven by technological advances in information and communication technologies. In addition, the rising demand from patients to opt for early treatment through means such as mobile surveillance, disease surveillance systems, and home care is expected to augur well for market growth in the coming years.
Asia-Pacific is likely to experience significant growth rate in the market of healthcare CRM because of the opening up of the market gradually to the international manufacturers that has projected the key market players to highly invest in setting up their centers in the developing economies. In addition, the authorities in these emerging countries are putting heavy investment regarding the advancement of their domestic infrastructure of healthcare which is likely to boost the growth of the market of healthcare CRM.
Healthcare CRM Market Scope
| Report Coverage | Details |
| Market Size by 2032 | USD 36.79 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 10% |
| North America Market Share in 2022 | 30% |
| Customer Service & Support Segment Market Share in 2020 | 25% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Component, End Use, Deployment Model, Application, Geography |
Healthcare CRM Market Dynamics
Driver
Increasing number of hospitals
According to the International Telecommunication Union, there were around 4.9 billion (63% of the global population) internet users by the end of 2021. This number was 4.1 billion in 2019 and it grew rapidly by 782 million in 2 years. The surging penetration of internet across the globe along with the rising adoption of smartphones is expected to drive the growth of the global health care CRM market during the forecast period.
Restraint
Lack of literacy in the rural regions
A huge population resides in the rural areas of the developing and the underdeveloped countries. The high illiteracy rate has resulted in the lack of knowledge regarding the smartphones. There is a lack of awareness regarding the internet and other digital technologies that may hinder the market growth during the forecast period.
Opportunity
Marketing and and new launches by the market players
The presence of several huge players and numerous small and independent market players has fragmented the market. However, the huge market players and the new launches by them has significant impacts on the market that may provide new growth prospects. For instance in November 2017, an online food aggregator in India, Swiggy launched Swiggy Access that aimed at helping the restaurants to operate delivery-only kitchen in India.
Challenge
Lack of adequate infrastructure
There is a lack of adequate infrastructure such as lack of proper roads, electricity, internet networks, and under penetration of online food delivery platforms. The online food delivery platforms are limited only to the urban cities and have no presence in the rural and sub-urban regions. This is a major challenge that may restrict the market growth.
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Key Market Developments
- In January 2021, the key player named Nuance Communications, Inc. (NASDAQ: NUAN) introduced avirtual assistant platform based on AI-powered patient engagement in order to transform digital experiences and voice across the patient journey. Furthermore, Nuance’s platform assimilates into and extends the possibilities of the healthcare organization’s critical financial, clinical, customer and telephony systems, including the Patient Financial systems, EHR, CRM, and patient access center telephony infrastructure.
Healthcare CRM Market Companies
- Salesforce.Com Inc
- Microsoft Corporation
- Oracle Corporation
- PegasystemsInc
- Sage Group Plc
- SAP SE
- SugarCRM
- Zoho Corporation Pvt Ltd
- Cerner Corporation
- Keona Health
Segments Covered in the Report
By Component
- Software
- Services
By Application
- Customer Service & Support
- Marketing
- Sales
- CRM Analytics
- Others
By Type
- Operational
- Collaborative
- Analytical
By Deployment Model
- On-Premise
- Hybrid
- Cloud
By End User
- Healthcare Providers
- Hospitals
- Ambulatory Care Centers
- Diagnostics & Imaging Centers
- Pharmacies
- Others
- Healthcare Payers
- Private Payers
- Public Payers
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
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