The Healthcare CRM Market Size Is Set To Reach $38.14 Billion In 2028 At A Rate Of 16.4%

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The global healthcare CRM landscape continues to experience significant growth. The market size is projected to increase from $17.9 billion in 2023 to $20.75 billion in 2024, marking an impressive Compound Annual Growth Rate CAGR of 15.9%. Key contributors to this historical period of growth have been increased patient-centered care, regulatory compliance, population health management, telehealth integration, and referral management.

What Is The Healthcare CRM Market Growth Forecast For The Next Few Years?

The healthcare CRM market size is slated for accelerated growth in the near future, with estimations suggesting a leap to $38.14 billion in 2028 at a compound annual growth rate CAGR of 16.4%. The expansive growth in the forecast period is attributed to the expansion of telemedicine, the application of predictive analytics in healthcare, enhanced interoperability, pandemic preparedness planning, and a focus on value-based care.

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What Are The Key Drivers Propelling The Healthcare CRM Market?

A notable increase in the implementation of CRM systems in hospitals and clinics is contributing to the robust growth of the healthcare CRM market. Healthcare CRM software, with its comprehensive patient database securely stored and inaccessible to outside parties, facilitates ready access to necessary information – be it through text, call, or email. This 24/7 accessibility not only allows rapid service delivery and issue resolution but also augments overall hospital efficiency. To illustrate, healthcare software development company Aimprosoft in Ukraine reported a 30% reduction in administrative errors in February 2021 due to CRM implementation in healthcare.

Are Key Industry Players Spearheading The Market Growth?

Major companies operating in the healthcare CRM market, namely Accenture plc, Allscripts Healthcare LLC, Amdocs, Alvaria Inc., Cerner Corporation, Healthgrades Marketplace LLC, IBM Corporation, Infor Inc., Keona Health, Microsoft Corporation, NICE Systems Inc., Oracle Corporation, Pegasystems Inc., R1 RCM Inc., Sage Group plc, SAP SE, Siemens Healthcare GmbH, SugarCRM Inc., Corpora Corporation Pvt. Ltd., Veeva Systems Inc., Verint Systems Inc., Zoho Corporation Pvt. Ltd., Athenahealth, Brightree LLC, ChARM Health Pty Ltd., CureMD Inc., DocPlanner Group, DrChrono, eClinicalWorks, Epic Systems Corp., Evariant Co., Greenway Health, HubSpot Inc., Insightly Inc., Kareo Inc., are driving the demand for the healthcare CRM market with their advanced offerings.

What Emerging Trends Are Shaping The Healthcare CRM Market?

A major trend emerging in the healthcare CRM market is technology development. Companies in this sector are striving to innovate and develop technologically advanced solutions to improve patient health and fortify their market presence. For example, in January 2021, Nuance Communications Inc. – a U.S.-based company producing AI-based CRM software – introduced a virtual assistant platform rooted in AI-powered patient engagement to transform digital experiences and voice across the patient journey.

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How Is The Healthcare CRM Market Segmented?

The healthcare CRM market is divided along various axes:
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

Which Regions Are Dominant In The Healthcare CRM Market?

In 2023, North America was the largest region in the healthcare CRM market. The report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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