Overview and Scope
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.
Sizing and Forecast
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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Segmentation & Regional Insights
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
Top 5 Major Players:
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The pharma and biotech crm software market report table of contents includes:
1. Executive Summary
2. Pharma And Biotech CRM Software Market Characteristics
3. Pharma And Biotech CRM Software Market Trends And Strategies
4. Pharma And Biotech CRM Software Market – Macro Economic Scenario
5. Global Pharma And Biotech CRM Software Market Size and Growth
….
32. Global Pharma And Biotech CRM Software Market Competitive Benchmarking
33. Global Pharma And Biotech CRM Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pharma And Biotech CRM Software Market
35. Pharma And Biotech CRM Software Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Pharma And Biotech CRM Software Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Pharma And Biotech CRM Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Pharma And Biotech CRM Software Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Oracle Corporation Financial Performance
Table 76: Salesforce.com Inc. Financial Performance
Table 77: IQVIA Holdings Inc. Financial Performance
Table 78: Trueblue Inc. Financial Performance
Table 79: Cirrius Solutions Inc. Financial Performance
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