The global healthcare CRM market size is expected to reach USD 17.8 billion by 2025, growing at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. Use of CRM helps healthcare organization to streamline their workflow and better manage patient care. It also helps in reducing the cost and increase the efficiency.
Vitally impacting drivers for the industry include rapidly growing percentage of aging population, rise in chronic disease incidence and advancement of new technology. Demand for operational efficiency in healthcare organization, adoption of home care/ virtual care and big data revolution is also contributing to the growth of the market. According to the study by Deloitte, 62.0% of patients are comfortable with online consultation with doctor.
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Shift from volume to value based care and rise of consumerism in healthcare organization is also expected to contribute significantly to the growth of global healthcare CRM space.
Further Key Findings From The Study Suggest:
• Based on product, individual CRM is expected to witness lucrative growth during the forecast period owing to consolidation of hospital and small healthcare providers which would increase the focus on direct to patient marketing to attract new patients. Combination of individual and referral CRM is expected to be the leading segment during the forecast period.
• Based on application, service outreach is expected to be the major segment during the forecast period. Case management and coordinated care is expected to show the highest growth owning to rise in demand for collaborative care.
• North America and Europe is expected to be the major regions for the growth of this industry. Emerging regions such as Asia Pacific and MEA are expected to show lucrative growth during the forecast period owning to changing healthcare system and demand for collaborative care.
• Few of the players in this market are IBM, salesforce.com, Siemens Healthineers, SAP, Accenture, Oracle, Microsoft, Amdocs Ltd., Anthelio Healthcare Solutions, AllScripts Healthcare Solutions Inc., NetSuite, Cerner
• 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 cloud, with collaboration of major industry partner such as Centura Health, Philips, Deloitte Digital and Accenture.
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Grand View Research has segmented the global healthcare CRM market on the basis of product, end-use, application, technology and region:
Healthcare CRM Product Outlook (Revenue, USD Million; 2014 - 2025)
• Individual healthcare CRM
• Referral healthcare CRM
• Individual and referral
Healthcare CRM End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Life sciences
Healthcare CRM Application Outlook (Revenue, USD Million; 2014 - 2025)
• Community outreach
o Community health education
o Service outreach/promotion
o Financial donor management
• Case coordination
o Patient information management
• Case management
o Chronic disease management
o Clinical trials relationship management
• Relationship management
Healthcare CRM Technology Outlook (Revenue, USD Million; 2014 - 2025)
• Cloud based
Healthcare CRM Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.