Market Size – The pharma and biotech CRM software market size has grown rapidly in recent years. It will grow from $6.26 billion in 2023 to $7.39 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to a shift towards a customer-centric approach, expanded sales and marketing channels, increased demand for data analytics, an increased need for efficiency and productivity, and a focus on an enhanced customer experience.
The pharma and biotech CRM software market size is expected to see rapid growth in the next few years. It will grow to $14.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to emphasizing AI-powered customer insight, growing virtual engagement solutions, integrating with the healthcare ecosystem, ensuring compliance and data security, and expanding mobile and remote access. Major trends in the forecast period include AI-powered customer insights, predictive analytics for healthcare providers, a patient-centric approach, virtual engagement solutions, and an emphasis on digital marketing.
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Scope Of Pharma And Biotech CRM Software MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pharma And Biotech CRM Software Market Overview
Market Drivers -The growing need for personalized medicine is expected to propel the growth of the pharma and biotech CRM software market going forward. Personalized medicine is a medical approach that customizes healthcare decisions and treatments for individual patients based on their genetic makeup, environmental factors, and lifestyle. The growing demand for personalized medicines is driven by higher rates of cancer and the increasing incidence of chronic diseases among the population. The demand for customized medicine necessitates using pharma and biotech CRM software to manage patient data, track treatment outcomes, and facilitate personalized healthcare delivery efficiently. For instance, according to the Personalized Medicine Coalition, a US-based professional membership organization, 12 new customized medications were approved in 2022, accounting for around 34% of all newly approved treatments, a significant increase over prior years. Therefore, the growing demand for personalized medicine is driving the growth of the pharma and biotech CRM software market.
Market Trends – Major companies operating in the pharma and biotech CRM software market are increasingly incorporating artificial intelligence (AI) and machine learning capabilities into platforms such as the AI-powered personalized engagement platform, to meet the growing demand for advanced customer relationship management tools tailored to the pharmaceutical and biotechnology industries. AI-powered personalized engagement enables companies to deliver targeted and relevant messaging to healthcare professionals (HCPs), patients, and other stakeholders. For instance, in October 2023, Salesforce, Inc., a US-based provider of cloud-based software solutions, launched its new life sciences cloud to streamline patient engagement and clinical operations with data, automation, and trusted AI. It enables pharmaceutical and medical technology organizations to streamline patient engagement, clinical operations, commercial lifecycle management, and personalized stakeholder experiences across the drug and device development journey.
The pharma and biotech crm software market covered in this report is segmented –
1) By Technology: Artificial Intelligence Customer Relationship Management (CRM), Conventional Customer Relationship Management (CRM)
2) By Deployment: On-Premises, Cloud Based
3) By Enterprise Size: Large Enterprise, Small And Medium Enterprise (SMEs)
4) By Industry: Pharmaceuticals, Biotech
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Regional Insights – North America was the largest region in the pharma and biotech CRM software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharma and biotech crm software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the pharma and biotech crm software market are Oracle Corporation, Salesforce.com Inc., IQVIA Holdings Inc., Trueblue Inc., Cirrius Solutions Inc., Veeva Systems Inc., Aurea Software Inc., Indegene Private Limited, Close-Up International Limited, Interactive Medica S.A., StayinFront Inc., Axtria Inc., Navicon Consulting LLC, Aktana Inc., Bpmonline, AKA Enterprise Solutions LLC, Anthill Agency Ltd., Media-Soft Inc., Zephyr Health Inc., Synergistix Inc., Euris S.A., Inova Software Inc., Prolifiq Software Inc., Infonis International Corp., Ivy Software Development Services Pvt. Ltd.
Table of Contents
1. Executive Summary
2. Pharma And Biotech CRM Software Market Report Structure
3. Pharma And Biotech CRM Software Market Trends And Strategies
4. Pharma And Biotech CRM Software Market – Macro Economic Scenario
5. Pharma And Biotech CRM Software Market Size And Growth
…..
27. Pharma And Biotech CRM Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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