The “Global Pharma and Biotech CRM Software Market, by Deployment, by Enterprise Size, by Industry, by Technology, Estimation & Forecast, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
The global pharma and biotech CRM software market held a market value of USD 4,528.4 million in 2021 and is estimated to reach USD 10,830.2 million by the year 2027. The market is anticipated to register a CAGR of 15.2% during the forecast period.
The pharmaceutical and biotechnological industry has been growing tremendously, and the increasing number of companies investing in this sector is causing direct growth and demand of CRM software in the field. In addition to that, CRM software is highly beneficial in different subsectors, such as hospitals, healthcare payer systems, public clinics, private clinics, and research labs.
Growth Influencers:
Increasing patient pool and growing need for client engagement
The increasing prevalence of diseases such as cancer, CVD, and neurological disorders are creating huge demand for the adoption of innovative systems, which in turn increases the demand for advanced CRM tools. with the ever-increasing demand, healthcare managers need to acquire, retain, as well as engage with patients to provide personalized services. thus, the necessity of CRM software has been increasing tremendously.
Growth and development of healthcare IT sector
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The extensive capacity of digital health applications and their potential in the healthcare industry is attracting investment flows in health technology (health-tech). Globally, in 2018, the health tech deals were valued at USD 14.8 billion consisting of 789 deals which was slightly decreased USD 13.8 billion in 2019. However, the number of deals and deal value has increased significantly over the past decade. That is portraying the growth prospectus available in the market and increased focus of market players to capture the potential within the market.
Segments Overview:
The global pharma and biotech CRM software market is segmented into deployment, enterprise size, industry, and technology.
Source: GlobeNewswire