The European healthcare CRM market is forecasted to be growing at a CAGR of 9.8% from 2021 to 2026.
The establishment of many hospitals, the preference towards centralized main systems, a structured and balanced workflow, and automated processes are expected to favor the European CRM market growth. The concept of integrated healthcare to cumulate care, treatment, rehabilitation, and diagnosis is expected to be a critical part of adopting healthcare CRM systems in Europe. There is a high demand for healthcare CRM because of the increase in hospitals in Europe, shifting the ever-growing demand towards an integrated healthcare system for workflow efficacy. An increased prevalence of chronic diseases, an aging population, the need for new technological advancements, virtual patient care, and operational efficiency are some of the major driving factors for the growth of the European healthcare CRM market.
The large healthcare spending allocated by countries to modernize hospitals to ease the influx of patients could strengthen the European healthcare CRM market. The next trend in the healthcare CRM industry is the changing models of patient care delivery and the increasing interaction between patients and hospitals. Establishing an infrastructure that allows for real-time communication can promote the adoption of such software.
The growing emphasis on patient engagement, increasing pressure on healthcare organizations to cut costs, and the importance of ensuring customer satisfaction are the main factors responsible for much of this segment. In addition, there are noticeable changes in the management of hospitals, which has resulted in the growth of the healthcare CRM market in Europe.
However, the limited adoption of CRM software in hospitals in developing economies across European unions may slow the market's growth, especially in mid-small range clinics and hospitals, due to a lack of healthcare infrastructure.
Impact of COVID-19 on the European Healthcare CRM Market:
COVID-19 has affected most European economies and the medical industry across several nations due to travel bans and business closures. The European region is taking action to build strong health systems in response to the pandemic. In this crisis, CRM health services have provided timely health services that provide safety, efficiency, and humanity to patients with chronic illnesses. During the pandemic, Germany was at the forefront for optimal healthcare. In 2019, DiGA Fast-Track was developed by the Digital Healthcare Act (DVG), which allowed doctors to prescribe claims that will be reimbursed by German health insurance.
This research report on the Europe healthcare CRM market has been segmented and sub-segmented into the following categories:
Geographically, the European healthcare CRM market can generously contribute to the growth of the global market due to the intention of the healthcare companies to expand their influence, the large funding of the nation's healthcare, and the healthcare programs developed for the citizens.
Germany and the United Kingdom maintained the important contributions to the European market in 2020 due to the increasing attention of the major players to extend the financing of healthcare in Europe over existing healthcare infrastructure and well-established economies.
SAP SE (Germany) was the second-largest company in the healthcare CRM market, with an 11.2% share in 2018. Its strong product portfolio helps SAP maintain its leadership position in the market. Help create valuable customer interaction by providing solutions for commerce, revenue, sales, and service. SAP uses technologies such as the Internet of Things, artificial intelligence, and machine learning to innovate in various fields. The company has integrated disruptive technologies such as artificial intelligence and machine learning into its cloud-based SAP CRM solution. The company relaunched SAP Leonardo, its integration platform, to integrate these disruptive technologies into its software solutions. To benefit from the growing opportunities in the healthcare CRM market, the company has emphasized the need to adopt organic and inorganic growth strategies, thereby supporting the market for upcoming years.
KEY MARKET PARTICIPANTS:
Amdocs Ltd, Microsoft, Oracle, IBM, SAP, Accenture Plc, AllScripts Healthcare Solutions Inc., Anthelio Healthcare Solutions, Siemens Healthcare, Accretive Health Inc., Salesforce, NetSuite, Aspect Software, Cerner, Lawson, Talisma, Nice Systems, Verint Systems, and Veeva are a few of the noteworthy companies operating in the European market.