pharma and biotech crm software market size, pharma and biotech crm software market drivers, pharma and biotech crm software market growth, pharma and biotech crm software market forecast, pharma and biotech crm software market trends, pharma and biotech crm software market scope
What is the current market size and future outlook for the pharma and biotech crm software market?
The pharma and biotech crm software market size has grown rapidly in recent years. It will grow from $7.39 billion in 2024 to $8.76 billion in 2025 at a compound annual growth rate (CAGR) of 18.5%. 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 $17.06 billion in 2029 at a compound annual growth rate (CAGR) of 18.1%. 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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How have varous drivers impacted the growth of the pharma and biotech crm software market?
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.
What are the primary segments of the pharma and biotech crm software market?
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
Subsegments:
1) By Artificial Intelligence Customer Relationship Management (CRM): AI-Powered Sales Automation, AI-Driven Customer Insights And Analytics, Predictive Analytics For Lead Scoring, Chatbots And Virtual Assistants, Natural Language Processing (NLP) For Customer Interaction, Personalized Marketing And Campaign Management, Sentiment Analysis And Customer Feedback Analysis, Machine Learning For Sales Forecasting
2) By Conventional Customer Relationship Management (CRM): Contact And Lead Management, Sales Pipeline And Opportunity Management, Marketing Automation And Campaign Management, Customer Service And Support Modules, Email Marketing And Communication Tools, Customer Segmentation And Targeting, Activity Tracking And Reporting, Integration With ERP And Other Business Systems
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Which firms are leading the pharma and biotech crm software market?
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.
How will industry trends affect the trajectory of the pharma and biotech crm software market?
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.
Which geographic trends are shaping the pharma and biotech crm software market, and which region has the highest market share?
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.
What Does The Pharma And Biotech CRM Software Market Report 2025 Offer?
The pharma and biotech crm software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Pharma and biotech CRM software is a specialized tool designed to assist pharmaceutical and biotech companies in managing customer relationships, data, and interactions effectively. This software helps organizations offer a seamless and unique customer experience, enabling them to build better relationships by providing a complete picture of customer interactions.
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