The global healthcare CRM market size is anticipated to reach $30,65-billion by 2030, registering a CAGR of 7,7% from 2024 to 2030, according to a new report by Grand View Research.
The adoption of customer relationship management (CRM) in healthcare organizations streamlines workflows and enhances patient care while reducing costs and improving efficiency. The global COVID-19 pandemic underscored the urgent need for digitized interoperability solutions to deliver faster and more effective results.
The increasing adoption of Electronic Health Records (EHR) in both developed and developing economies is also expected to fuel significant growth in this market.
Key drivers for the industry growth include the rising geriatric population, incidence of chronic diseases, and advancements in technology. The demand for operational efficiency, adoption of home care/virtual care, and the emergence of big data further contribute to market growth.
Highlights from the CRM market report include:
* The market was valued at $17,87-billion in 2023 and is expected to grow at a CAGR of 7,7% during the forecast period.
* Based on functionality, the sales segment dominated the market in 2023 while it is also anticipated to be the fastest growing segment from 2024 to 2030. This is owing to the growing number of solutions available in the market and initiatives implemented by leading companies.
* Based on deployment mode, the cloud/ web-based model held the largest share in 2023. It is also projected to grow at the fastest CAGR during the forecast period.
* The healthcare providers segment accounted for the highest share of 40,21% in 2023.The healthcare payers segment, on the other hand, is estimated to grow at the fastest CAGR from 2024 to 2030.
* North America dominated the global market with a share of 58.0% in 2023. On the other hand, Asia Pacific is expected to register the fastest CAGR from 2024 to 2030 owing to the changing healthcare system and demand for collaborative care.