CRM in Healthcare Market to grow by USD 8.01 billion from 2022 to 2027|Growing demand for personalized healthcare services and patient engagement solutions to drive market growth - Technavio
NEW YORK, July 6, 2023 /PRNewswire/ -- The CRM in healthcare market is set to grow by USD 8.01 billion from 2022 to 2027, progressing at a CAGR of 8.85% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing demand for personalized healthcare services and patient engagement solutions is the major factor driving the market growth. With the increasing need for personalized healthcare services and patient engagement solutions, global customer relationship management in the healthcare market is fueled. Moreover, healthcare practitioners use CRM solutions to access and analyze patient data and develop individualized treatment programs. Also, CRM allows for identifying patient requirements and preferences, communicating with patients more efficiently, and enhancing patient outcomes. As a result, the requirement for CRM solutions in the healthcare sector has advanced, as providers are functioning on enhancing the quality and significance of service while fulfilling the needs and expectations of patients. This, in turn, is anticipated to boost the growth of the market during the forecast period. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The CRM in healthcare market covers the following areas:
The report on the CRM in healthcare market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
CRM In Healthcare Market 2023-2027 - Market Dynamics
The growing adoption of cloud-based CRM solutions is an emerging trend supporting market growth. Cloud-based CRM solutions have different benefits over traditional on-premise models, such as scalability, flexibility, and cost-effectiveness. Moreover, the use of cloud-based solutions helps healthcare practitioners manage patient relationships and access patient data from any location, time, and device. This is really important for remote and virtual patient care, which has advanced since the outbreak of the COVID-19 pandemic. Also, Cloud-based solutions deliver cutting-edge privacy and security attributes that help in protecting sensitive patient data. Therefore, these solutions are expected to play an important role in propelling the growth of global customer relationship management (CRM) in the healthcare market during the forecast period.
High implementation costs and lack of interoperability with legacy systems may hinder market growth. Significant resources, time, and costs are required to implement a CRM solution. However, verifying that the CRM system is interoperable with existing legal systems is complex and time-consuming for healthcare organizations. Due to low compatibility with legacy systems and high deployment costs, healthcare providers face challenges. Data silos and inefficiencies make it challenging for patient data to be shared between systems along with healthcare organizations to provide a consistent view of patient data, which may have an adverse impact on patient treatment and outcomes. Thus, the lack of interoperability with legacy systems and high implementation costs may hinder the growth of CRM in the healthcare market growth during the forecast period.
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CRM In Healthcare Market 2023-2027: Market Segmentation
The CRM in healthcare market segmentation by component (software and services), deployment (on-premise model and cloud-based model), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
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The SaaS customer relationship management (CRM) market is estimated to grow at a CAGR of 13.43% between 2022 and 2027. This report extensively covers market segmentation by end-user (retail, BFSI manufacturing, telecom and it, and others), application (service and support, sales, marketing, and e-commerce), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The focus on customer engagement is notably driving the SaaS customer relationship management market growth.
The Customer Experience Management market size is estimated to grow at a CAGR of 15.23% between 2022 and 2027. The market size is forecast to increase by USD 12,555.32 million. This report extensively covers market segmentation by component (solution and service), deployment (on-premises and cloud), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). One of the key factors driving the customer experience management (CEM) market growth is the increasing focus on customer-centricity among organizations.
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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