Healthcare CRM Market Size Expected to Reach USD 40.02 Bn

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Ottawa, May 10, 2024 (GLOBE NEWSWIRE) — According to Precedence Research, the global healthcare CRM market size was estimated at USD 15.6 billion in 2023 and is projected to hit around USD 36.79 billion by 2031. Healthcare CRM is specially designed for use in the healthcare industry.

The healthcare CRM market has a main role in private and public practices, laboratories, medical centers, and hospitals. Healthcare CRM is an industry-specific solution that helps improve service, manage patient information and medical service providers’ store and engagement, enhance patient acquisition strategy and sales processes, and automate marketing when performing under healthcare security regulations.

Healthcare CRM is also known as healthcare customer relationship management. Healthcare CRM contains information on patients with a history of appointments, date of upcoming appointments, history of medical bills paid and unpaid, and medical history. It makes it easy to manage and schedule appointments for patients.

Scope of the Healthcare CRM Market

Report Coverage Details
CAGR 9.91% from 2023 to 2033
Healthcare CRM Market Size in 2023 USD 15.6 Billion
Healthcare CRM Market Size in 2024 USD 17.1 Billion
Healthcare CRM Market Size by 2023 USD 40.02 Billion
Base Year 2023
Forecast Period 2024 to 2033
Historical Year 2021-2022
North America Healthcare CRM Market Share in 2023 51.14%
Segments Covered Component, End Use, Deployment Model, Application, and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

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Healthcare CRM Market Key Insights:

  • North America dominated the market with the largest market share of 51.14% in 2023. 
  • Asia-Pacific is estimated to be the fastest-growing market during the forecast period. 
  • By functionality, the sales segment has held a major market share of 21% in 2023.
  • By deployment mode, the cloud/web-based segment accounted for the highest market share in 2023.
  • By end use, the healthcare providers segment has contributed more than 44% of the market share in 2023.
  • By component, the software segment dominated the market in 2023. 
  • By component, the services segment is the fastest-growing during the forecast period.  
  • By application, the customer services & support segment dominated the market in 2023. 
  • By application, the marketing segment is the fastest-growing during the forecast period.  

U.S. Healthcare CRM Market Size and Growth 2024 to 2033

The U.S. healthcare CRM market size is calculated at USD 12.02 billion in 2024 and is expected to reach around USD 28.62 billion by 2033, expanding at a healthy CAGR of 10.12% from 2024 to 2033.

Healthcare CRM Market Regional Analysis

North America dominated the healthcare CRM market in 2023.  In the US healthcare of the North American region, healthcare CRM is used in many healthcare organizations. The healthcare industry requires privacy and strict regulatory standards, such as those of the United States HIPAA. A CRM system planned especially for healthcare provides advanced security qualities for safe patient information and ensures compliance, leading to the growth of the market. The United States Oracle company is highly active in the healthcare sector, provider of hospital software like surgery, radiology, anesthesia, etc., and electronic health records (EHR).

Asia-Pacific is estimated to be the fastest-growing market during the forecast period of 2024 to 2033. Increasing demand for healthcare CRM in hospitals leads to the growth of the market in the Asia-Pacific region. Healthcare systems of this region are shifting towards efficient work to help the growth of the market. The growing senior population, increasing chronic diseases, virtual patient care, and the necessity of new technological advancements help in the growth of the Asia-Pacific region’s healthcare CRM market.

  • In July 2023, Salesforce “Starter,” a CRM software for MSMEs (Micro, Small, and Medium Enterprises) in India, was launched by the American cloud-based company Salesforce.

Europe Healthcare CRM Market Size and Growth 2023 to 2033

The Europe healthcare CRM market size was valued at USD 4.20 billion in 2024 and is expected to hit USD 10.33 billion by 2033, growing at a CAGR of 10.48% from 2024 to 2033. Europe region has contributed a major market share of 24.43% in 2023.

Forecasts Year Market Size
2023 USD 3.81 Billion
2024 USD 4.20 Billion
2025 USD 4.63 Billion
2026 USD 5.12 Billion
2027 USD 5.66 Billion
2028 USD 6.25 Billion
2029 USD 6.92 Billion
2030 USD 7.67 Billion
2031 USD 8.51 Billion
2032 USD 9.44 Billion
2033 USD 10.33 Billion

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Healthcare CRM Market Highlights:

By Component        

The software segment dominated the market in 2023. Healthcare CRM software plays a main role in different areas, including medical centers, laboratories, private and public practices, and hospitals. The main goal of using CRM software in the healthcare industry is to retain, engage, and secure patients. A faithful patient CRM software for healthcare suppliers allows for managing and storing patient information when improving engagement, service, and additional master plans. It may also automate sales and marketing processes while ensuring the observance of healthcare security regulations.

The services segment is the fastest-growing during the forecast period. The main role of healthcare CRM services is to retain, acquire, and engage patients. Healthcare CRM is an industry-specific solution that helps manage patient information, and medical service providers store and improve service when performing under healthcare security regulations.

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By Application

The customer services & support segment dominated the market in 2023. Healthcare CRM in customer support is the union of strategies, technologies, and practices that companies use to analyze and manage data and customer interaction throughout the customer lifecycle.

  • In April 2023, a new customer 360 for healthcare was released by Salesforce for healthcare providers to create personalized patient experiences.
  • In March 2024, Orion-A Gen AI-based Autonomous self-service was launched by Coforge to transform customer experiences with advanced AI potential. This helps in various fields like healthcare, and travel for communicating with the customers.

The marketing segment is the fastest-growing during the forecast period in automated marketing for healthcare security regulations. The healthcare industry doesn’t have fewer customers, but still they have to market their brand, and using CRM software is the best way of marketing. There are many healthcare CRM market ideas like improving communication, attracting high-quality leads, creating educational content for fellow physicians and patients, continuous follow-up, and feedback from consumers. Using email and video marketing helps the growth of the marketing segment.

  • In January 2024, Cured, a renowned CRM and digital marketing platform specially designed for healthcare, was invested in, and announced by Innovaccer Inc.

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Healthcare CRM Market Dynamics

Drivers

Rising chronic diseases

The rising chronic diseases like respiratory, arthritis, cardiovascular disorders, and diabetes lead to the market’s growth. The development of a new CRM for the patient’s health and healthcare. The benefits of chronic disease recovery for patients and clinicians include more effective data collection and patient satisfaction, which result in a better diagnosis process. The healthcare CRM stores various types of patient data, such as processing, access, and storage. Healthcare CRM can get information about medical bills paid or unpaid, appointment history, and date of upcoming appointments needed for chronic diseases and contribute to the growth of the market.

Save time and reduce medical bill errors

In the healthcare sector, CRM automation may save many hours every day, and it adds to dozens of hours every month. Automated calendar management is a must for a healthcare facility’s growing staff. These automated calendars help doctors and nurses in private or hospital practices to automate their calendars with the healthcare CRM software. Without a doctor’s involvement, patients may make their appointments, and by notifications, they may instantly know when the new appointment is.

Doctors do not worry about double booking due to the automated calendar. These time-saving factors help the growth of the healthcare CRM market. The number of healthcare sectors struggling for proper staff. And have some front-desk employees process patient payments. Healthcare CRM tools may help auto-generate bills. Using automated bill generation reduces the rate of human errors and saves time. Healthcare CRM system helps in bill generation quickly and ideally. These various important factors help in the growth of the market as they add more departments and laboratories. Each patient may have to do many tests, and each bill may be generated separately.

Restraint

Restricted contribution to improving patient experience

In a regular context, a healthcare CRM system would involve solutions that give rewards or loyalty to the consumers or patients. While performing loyalty programs has its role in healthcare and provides an outstanding patient experience, it is important to boost loyalty. For example, the healthcare CRM system may not allow for fewer patient waiting times and may not provide them with several suitable appointment booking options. Healthcare CRM systems can or cannot include feedback models, which makes it easy for patients to give feedback and provide timely solutions.

Opportunity

Technological Advancements

Healthcare CRM market growth increases due to the inclusion of technological advancements like artificial intelligence (AI), telemedicine, big data, e-CRM, Internet of Things (IoT). Cloud-based CRM permits efficient accessibility, scalability, and data storage. Mobile devices help in data access and communication facilities through mobile CRM. Social CRM is for communication and patient engagement. AI is used for personalized treatment, predictive analytics, and diagnostics.

Big data helps analyze large datasets to improve healthcare management and patient outcomes. For remote patient treatment, specific services and tools are used, like telemedicine. IoT smart devices are used for data collection and real-time monitoring. Telehealth software includes both clinical and non-clinical digital health services. Telehealth software helps in health education, business intelligence, call center automation, healthcare marketing campaigns, and others. These technologies help healthcare providers to provide timely care, enhance patient satisfaction, and efficient communication with their patients, as well as improve patient engagement. This opportunity leads to the growth of the healthcare CRM market.

Recent Developments

  • In August 2023, Innovaccer launched Sara AI assistants over four AI platforms Which improves healthcare management, coordination, self-service analytics, and CRM.
  • In October 2023, Life Sciences Cloud, a secure platform for medical technology and pharmaceutical organizations, was announced by Salesforce.
  • In March 2024, a new healthcare AI assistant in the customer relationship management system was launched by Salesforce. A provider may use a healthcare AI assistant for creating patient summaries like diagnoses, care gaps, social determinants, medications, and clinical service requests.

Healthcare CRM Market Key Players

  • Cerner Corporation
  • Keona Health
  • Microsoft Corporation
  • Oracle Corporation
  • Pegasystems Inc
  • SugarCRM
  • Sage Group Plc
  • Salesforce.Com Inc
  • SAP SE
  • Zoho Corporation Pvt Ltd

Market Segmentation

By Component

By Application

  • Customer Service & Support
  • Marketing
  • Sales
  • CRM Analytics
  • Others

By Type

  • Operational
  • Collaborative
  • Analytical

By Deployment Model

By End User

  • Healthcare Providers
    • Hospitals
    • Ambulatory Care Centers
    • Diagnostics & Imaging Centers
    • Pharmacies
    • Others
  • Healthcare Payers
    • Private Payers
    • Public Payers

By Geography

  • North America
  • Europe
  • 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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