Dublin, Nov. 22, 2018 (GLOBE NEWSWIRE) -- The "Healthcare CRM Market by Component, Delivery, End user, Functionality - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The benefits offered by CRM and growing focus on patient engagement are expected to drive the overall growth of the healthcare CRM market
The healthcare CRM market is estimated to reach USD 17.4 billion by 2023 from USD 8.8 billion in 2018, at a CAGR of 14.6% during the forecast period.
CRM is a customer-focused business strategy designed to optimize profitability and customer satisfaction. CRM offers a wide range of benefits to its users, which drives the growth of the healthcare CRM market. Increased focus on patient engagement also contributes to the growth of the market. However, factors such as the high cost of CRM, issues related to patient data security, and complexities in the CRM implementation process restrain the growth of the healthcare CRM market.
"Healthcare CRM services to grow at the highest CAGR during the forecast period"
On the basis of component, the healthcare CRM market is segmented into software and services. The services segment is expected to dominate the healthcare CRM market in 2018. Services form a large component of the healthcare CRM market primarily due to the indispensable role of service providers when it comes to the use of CRM solutions for healthcare. The recurring need for services such as software upgrades and maintenance is the key factor supporting the growth of this segment.
"Customer service and support to account for the largest market during the forecast period"
On the basis of functionality, the healthcare CRM market is segmented into customer service and support, marketing, sales, and digital marketing functionalities. CSS applications are front-office systems with back-end links to support a customer-centric environment. A growing focus on patient engagement, rising pressure on healthcare organizations to reduce costs, and the importance of ensuring customer satisfaction are major factors responsible for the large share of this segment in the healthcare CRM market.
North America to dominate the market during the forecast period
The healthcare CRM market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America, segmented into the US and Canada, is estimated to hold the largest share of this market in 2018. However, healthcare reforms in North American countries, market saturation due to high competition, and decreasing hospital budgets are likely to hinder market growth. On the other hand, the Asian market is expected to show high growth during the forecast period. Market growth is mainly due to rising patient awareness, improvement of healthcare systems, growing medical tourism in Asian countries, and favorable government initiatives, among other factors.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Healthcare CRM: Market Overview
4.2 Healthcare CRM Market, By Component (2018-2023)
4.3 Healthcare CRM Market, By Delivery Model, 2018 vs. 2023 (USD Billion)
4.4 Healthcare CRM Market, By Functionality
4.5 Healthcare CRM Market, By End User, 2018 vs. 2023 (USD Billion)
4.6 Healthcare CRM Market: Geographic Growth Opportunities
5 Market Overview
5.1.1 Drivers
5.1.1.1 Benefits of CRM Software
5.1.1.2 Growing Focus on Patient Engagement
5.1.2 Restraints
5.1.2.1 Concerns Regarding Data Security
5.1.2.2 High Cost and Complexity of CRM Implementation
5.1.3 Opportunities
5.1.3.1 Ai-Powered CRM
5.1.3.2 Predictive Analytics in CRM
5.1.4 Challenges
5.1.4.1 Integration Challenges
6 Healthcare CRM Market, By Component
6.1 Introduction
6.2 Services
6.2.1 Services to Account for the Larger Share of the Healthcare CRM Market in 2018
6.3 Software
6.3.1 Ongoing Research & Launch of Advanced CRM Solutions Powered With Analytics and Artificial Intelligence to Drive Market Growth
7 Healthcare CRM Market, By Deployment Model
7.1 Introduction
7.2 On-Premise Model
7.2.1 Greater Control Over Data and Cost Benefits Offered By On-Premise Solutions to Drive the Growth of This Segment
7.3 Web/Cloud-Based Model
7.3.1 Public Cloud
7.3.1.1 Affordability, Scalability and Flexibility of This Model to Enhance the Growth of This Segment
7.3.2 Private Cloud
7.3.2.1 Growing Concerns Over Data Security Likely to Boost the Growth of This Segment
7.3.3 Hybrid Cloud
7.3.3.1 Greater Control, Reduced Risk and Cost-Efficiency to Drive the Growth of This Segment
8 Healthcare CRM Market, By Functionality
8.1 Introduction
8.2 Customer Service and Support
8.2.1 Growing Pressure to Ensure Patient Engagement and Retention Will Contribute to Market Growth in This Segment
8.3 Marketing
8.3.1 Benefits of Technology-Enabled Marketing to Enhance the Adoption of This Functionality
8.4 Sales
8.4.1 Opportunity Management Systems Will Ensure Streamlining of Sales Processes
8.5 Digital Marketing
8.5.1 Digital Marketing Will Provide Data-Backed Insights to Form Future Engagement Strategies
8.6 Other Functionalities
8.6.1 Ai-Powered CRM Will Have the Potential to Predict Customer Needs
9 Healthcare CRM Market, By End User
9.1 Introduction
9.2 Healthcare Providers
9.2.1 Hospitals
9.2.1.1 Growing Patient Burden and Increasing Focus on Patient Engagement to Drive the Growth of This Segment
9.2.2 Ambulatory Surgery Centers(Ascs) and Clinics
9.2.2.1 Rising Need to Improve Care Delivery and Streamline Business Functions to Drive the Market for This Segment
9.2.3 Diagnostic Centers
9.2.3.1 The Growing Burden of Patients Owing to the Increasing Awareness of Patients for Early Diagnosis is A Major Factor Driving the Growth of This 68
9.3 Life Sciences Industry
9.3.1 CRM Solutions Will Be Mainly Used to Streamline Css, Sales, and Marketing Processes
9.4 Healthcare Payers
9.4.1 Growing Need for Efficient Customer Management to Drive Demand for CRM Solutions in the Healthcare Payers Segment
10 Healthcare CRM Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 The Shift Toward Value-Based Care Will Boost the Adoption of Healthcare CRM in the US
10.2.2 Canada
10.2.2.1 Growing Focus on Improving the Quality of Healthcare in the Country Will Support Market Growth
10.3 Europe
10.3.1 Government Initiatives for Ehealth Technologies to Drive the Growth of This Segment
10.4 Asia
10.4.1 Rising Patient Awareness, Improving Healthcare Systems and Growing Medical Tourism to Boost the Growth of This Segment
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Partnerships and Agreements (2015-2018)
11.3.2 Product Launches (2015-2018)
11.3.3 Acquisitions (2015-2018)
11.3.4 Expansions (2015-2018)
12 Company Profiles
- Accenture
- Healthgrades
- IBM
- Influence Health, Inc.
- Infor, Inc.
- Microsoft
- Oracle
- Saleforce.Com, Inc.
- SAP SE
- SugarCRM
For more information about this report visit https://www.researchandmarkets.com/research/pnz7pg/17_4_billion?w=12
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