Press release
Pharma & Biotech CRM Software Market By Deployment (On-Premise, Cloud Based (SaaS); By Enterprise Size (Large Enterprise, Small & Medium Enterprise); By Industry (Pharmaceutical, Biotech); By Region (Americas, Europe, APAC, MEA)- Size, Share, Outlook, Opp
The global pharma & biotech CRM software market is estimated to reach USD 8,069 million by 2025 from USD 3,333.8 million in 2019 with a CAGR of 15.9%.Pharma & biotech CRM software plays an important role in the pharma & biotech industry. Such software help in providing better and more reliable support for the pharma & biotech customers and clients by helping and organizing the life sciences data and leveraging accumulated competitive intelligence. Factors such as increasing patient pool and need of client engagement followed by development of healthcare IT sector and growth of the pharma & biotechnology sector drives the market growth.
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The prevalence of chronic/acute diseases is increasing across the globe. According to a recent study by the Centers for Disease Control and Prevention (CDC) every six in ten adults within the US have chronic diseases including cancer. Moreover, it suggests that four out of every ten adults within US lives with more than one chronic condition. This is paralleled by increasing customer base (for pharma and biotechnology industry). As a result, the demand for client management has increased several folds. It is well reported that more than 30% switching providers due to poor service experience. In such prevalent conditions, CRM software can bridge the gap between poor service experience and a centralized platform to effectively manage the services.
However, high cost and difficulty in successful implementation of CRM software followed by its skeptical performance is estimated to restraint the market growth during the forecast period.
Segmentation:
The global pharma & biotech CRM software market has been segmented into deployment, enterprise size, industry, and region.
On the basis of deployment, the global pharma & biotech CRM software market is divided into on-premise and cloud based (SaaS).
By enterprise size, the global pharma & biotech CRM software market is postulated into large enterprise and small & medium enterprise.
On the basis of industry, the global pharma & biotech CRM software market is segmented into pharmaceutical and biotech industries.
Regional Analysis:
By region, the global pharma & biotech is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is estimated to lead the global market in 2019 and is further segmented into North America and South America. North America is estimated to hold a major market share within the Americas owing to the presence of developed economies like US and Canada which spend huge amount into the healthcare sector including pharma & biotech industries. Followed by such trends, Europe stand second in the market. Asia-Pacific is estimated to be the fastest growing region for the global pharma & biotech CRM software market. Rapidly developing healthcare IT sector, growing pharma & biotech sector, and increasing penetration of the global players within the region is estimated to drive the regional market growth. The Middle East & Africa region holds the least share in the global market.
Competitive Landscape:
Key player covered in the report includes Oracle, Salesforce, Veeva Systems, QuintilesIMS, Aurea, Creatio, Indegene, Euris, Interactive Medica, Infonis Interantional, Media-soft Inc., Synergistix, TrueBlue, Navicon, Pitcher Inc., Prolifiq, Cirrius, StayinFront, and others.
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