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Healthcare CRM Market Size to Surpass US$ 35.74 Billion by 2030

According to Precedence Research, the global healthcare CRM market was estimated at US$ 10.92 billion in 2021 and is projected to surpass around US$ 35.74 billion by 2030, growing at a CAGR of 14.1% from 2022 to 2030.

Ottawa, April 29, 2022 (GLOBE NEWSWIRE) -- 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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The rising preferences for the online monitoring of the patient over the traditional method of checking and keeping track have forced the healthcare to opt for advanced methodology. The proliferation of digital technologies and increased awareness regarding the various CRM software benefits among the customers has spurred the growth of the market.

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.

Scope of the Report

Report Coverage Details
Market Size in 2021 USD 10.92 Billion
CAGR 14.1% from 2022 to 2030
Largest Market North America
Fastest Growing Region Asia Pacific
Companies Covered Salesforce.Com Inc,  Microsoft Corporation, Oracle Corporation, PegasystemsInc, Sage Group Plc, SAP SE, SugarCRM, Zoho Corporation Pvt Ltd, Cerner Corporation, Keona Health

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.

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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.

Market Segmentation

By Component

  • Software
  • Services

By Application

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

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
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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