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Understanding Impact of COVID-19 on Healthcare CRM Market

Global Healthcare CRM Market – Overview

Technological advancements and cost efficiency are two of the most important factors that are pushing the development of the global healthcare CRM market. A healthcare CRM provides several services and tools that can improve and optimize the communication between the healthcare providers and patients. These tools include text messages, messenger services, online forms, feedback forms, and emails among others. These tools and services are gaining immense popularity all around, making it essential for different healthcare organizations to utilize these channels. These tools help in minimizing the human effort that results in cost efficiency, minimizes risk of errors, and optimizes overall channel of communication.

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Global Healthcare CRM Market – Key Trends

It is becoming increasingly common for the healthcare sector to incur heavy administrative expenses. These expenses are causing general healthcare services to go high, making them difficult to afford for general masses. This has thus prompted the use of automation, machine learning, and the artificial intelligence services and tools in the healthcare sector. These tools are helping to cut down the administrative costs considerably.

Naturally, this has helped in creating a huge demand for healthcare CRM market. With the introduction of new applications and tools such as digital chatbots, record keeping software, and real time interactions, the healthcare sector is experiencing a transformation like never before. This has thus paved the way for a robust growth environment for the global healthcare CRM market for the given period of forecast.

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Global Healthcare CRM Market – Geographical Landscape

From a geographical point of view, the global healthcare CRM market is divided into six main regions namely, North America, Latin America, Middle East and Africa, Eastern Europe, Western Europe, and Asia Pacific. Currently, the global market is being dominated by the North America region. The region is expected continue its dominance over the course of the assessment period of 2018 to 2026. There are several factors that are influencing the development of the global healthcare CRM market. One of the key development factor is the presence of several established brands operating in the region. Moreover, due to the maturity and advancement of the healthcare infrastructure in the North America region, particularly in the US, the healthcare CRM market is expected to witness a promising demand. Furthermore, easy and early availability of latest technologies and applications are also expected to contribute for the development of the healthcare CRM market in the North America region.

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On the other hand, the regional segment of Asia Pacific is projected to witness a highly promising rate of growth. The market is slowly opening up to the international players and that has prompted these companies to invest heavily in setting up their bases in emerging nations such as India. Moreover, the governments in these developing nations are putting in heavy sums for the development of their domestic healthcare infrastructure. This development is projected to present several lucrative opportunities for leading market companies and thus contribute to the overall development of the market in the region.

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Global Healthcare CRM Market – Competitive Landscape

The global healthcare CRM has a varying competitive landscape featuring several important brands. These companies are now trying to provide advanced solutions to tap into the vast potential of the healthcare CRM market. Some of the notable names in the global market include Infor Inc., Healthgrades, Accenture, SugarCRM, Influence Health, IBM, Microsoft, Oracle, SAP SE, and Salesforce Inc. among others. Of these, Salesforce Inc. has been the most dominant force in the global market and is projected to remain so in the next few years of the forecast period.

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Market segmentation based on geography:

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