The need to ensure seamless interaction amongst patients and healthcare organizations is estimated to guide the development of the market for healthcare CRM 2020. The healthcare industry reports are put forth by Market Research Future, which focusses on market options for growth. A CAGR of 13.4% is estimated to guide the market towards development in the forecast period.
The rise in the establishment of hospitals around the world is estimated to bolster the market for healthcare CRM in the coming period. The demand for structured workflow and central billing is expected to motivate the market in the approaching forecast period.
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Global Healthcare CRM Market - Segments
For ease of understanding, the market has been segmented into five key dynamics: -
By Component: Software and Services.
By Deployment Model: On-premise Model and Web/Cloud-based Model.
By Functionality: Customer Service & Support, Marketing, Sales, Digital and Marketing among others.
By End-user: Healthcare Providers, Life science Industry, and Healthcare Payers among others.
By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Regional Analysis
The global healthcare CRM market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Rest of the World. The Americas is likely to hold the largest share of the global healthcare CRM market during the assessment period owing to the presence of a large pool of hospitals, established payers, and rising adoption of healthcare CRM in the region. For instance, as of 2014, according to the Society for Healthcare Strategy & Market Development, around 60% of hospitals installed the CRM in the US. The Europe market is expected to register a substantial growth in the market owing to the increasing focus of companies in the European region, funding for healthcare infrastructure, and the presence of developed economies. Asia-Pacific is estimated to be the fastest-growing region in the global market due to the rising interest of investors for investing in the healthcare sector and the increasing number of private hospitals in the region. The healthcare CRM market in the rest of the world is expected to witness gradual growth owing to the developing healthcare infrastructure.
Competitive Analysis
The healthcare CRM market appears fiercely competitive with the presence of several large and small players. The key strategies traced from the analysis of recent market developments include agreement & partnership, product launch, acquisition, and expansion.
International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of technology portfolios, differentiation, quality, and pricing.
These key players are employing strategies of creating alliances with e-commerce partners with strong local players in regions such as APEJ and Western Europe to consolidate their position. Growth in terms of innovations/ technologies in the market is also expected to create strong investment opportunities for global players.
Key Players
MRFR recognizes the following companies as the Key Players in the Global Healthcare CRM Market - Healthgrades Operating Company, Inc. (US) Infor (US), Salesforce.com, Inc. (the US), SAP (US), Keona Health (US), Microsoft (US), Oracle (US), Accenture (Ireland), SugarCRM (US), hc1 (US), and Others.
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY 15
2.2 RESEARCH OBJECTIVE 15
2.3 MARKET STRUCTURE 15
2.4 ASSUMPTIONS & LIMITATIONS 16
3 RESEARCH METHODOLOGY
3.1 DATA MINING 17
3.2 SECONDARY RESEARCH 18
3.3 PRIMARY RESEARCH 19
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 20
3.5 FORECASTING TECHNIQUES 21
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 22
3.6.1 BOTTOM-UP APPROACH 23
3.6.2 TOP-DOWN APPROACH 23
3.7 DATA TRIANGULATION 24
3.8 VALIDATION 24
4 MARKET DYNAMICS
4.1 OVERVIEW 25
4.2 DRIVERS 26
4.2.1 INCREASING NUMBER OF HOSPITALS 26
4.2.2 INCLINATION TOWARDS INTEGRATED HEALTHCARE SYSTEM 26
4.2.3 STRUCTURED BILLING PROCESS AND AUTOMATED HEALTHCARE WORKFLOW 27
4.3 RESTRAINTS 28
4.3.1 LOW ADOPTION RATES OF HEALTHCARE CRM IN DEVELOPING REGIONS 28
4.4 OPPORTUNITIES 29
4.4.1 ADVANCEMENTS IN THE HEALTHCARE IT SECTOR 29
4.4.2 ARTIFICIAL INTELLIGENCE (AI) IN CRM 29
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