The global healthcare CRM market is expected to reach $17.4 billion by 2025, according to a study by Grand View Research, citing the rising demand for workflow automation and a single platform for tracking medical information as the key drivers for industry growth.
Healthcare payers, providers, and life science companies also need better integration between their administration and patient queries, which Grand View Research expects to further increase market growth.
Gathering information about target customers, marketing effectiveness, sales, feedback, and market needs facilitates workflow automation within the organization, which is another vital factor leading towards the growth of the healthcare CRM market. Moreover, technological advancements in cloud CRM, mobile CRM, and social CRM provide an effective communication medium, which is expected to further accelerate healthcare CRM industry growth.
Other findings from the research indicate the following:
- Cloud CRM is currently the largest technology segment.
- Mobile CRM is expected to be the fastest growing technology segment.
- A hybrid of individual and referral CRM systems is expected to be the largest product segment by 2025.
- Referral healthcare CRM is expected to be the fastest growing product segment over the forecast period.
The report identifies IBM, Salesforce.com, Veeva Systems, Siemens Healthcare, SAP, Accenture, Oracle, Microsoft, Amdocs, Anthelio Healthcare Solutions, AllScripts Healthcare Solutions, NetSuite, Cerner, Nice Systems, Talisma, Lawson, and Verint Systems as the key market players for healthcare CRM.