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Impact Of Personalized Medicine On The Pharma And Biotech CRM Software Market: Critical Driver Shaping the Pharma And Biotech CRM Software Market in 2025
Pharma And Biotech CRM Software Market
Pharma And Biotech CRM Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been swift expansion in the pharma and biotech crm software market in the last few years. The market value is projected to surge from $7.39 billion in 2024 to $8.76 billion in 2025, recording a compound annual growth rate (CAGR) of 18.5%. The previous growth surge can be linked to a paradigm shift towards a consumer-oriented approach, enlargement of sales and marketing avenues, escalated requirement for data analysis, a higher need for productivity and efficiency, and a significant emphasis on improving the customer experience.
Pharma And Biotech CRM Software Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for the pharma and biotech CRM software market to experience significant growth in the forthcoming years, escalating to a worth of $17.06 billion by the year 2029. This amounts to a compound annual growth rate (CAGR) of 18.1%. Key factors contributing to this increased growth forecast include a focus on AI-enabled customer insight, surge in the adoption of virtual engagement solutions, seamless integration with healthcare ecosystems, assurance of compliance and data security, and the expansion of remote and mobile access. Dominant trends in this projected growth period encompass AI-driven customer insights, implementation of predictive analytics for healthcare providers, adoption of patient-centric strategies, burgeoning virtual engagement solutions, and an elevated emphasis on digital marketing.
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What Are the Drivers Transforming the Pharma And Biotech CRM Software Market?
The escalating requirement for individualized medicinal treatments is set to stimulate the advancement of the pharma and biotech CRM software industry in the future. Personalized medicine delineates a medical methodology that devises healthcare choices and treatments tailored to every patient, considering their genetic composition, environmental influences, and lifestyle. The surge in demand for such medicines stems from the rising cancer rates and escalating occurrence of chronic ailments among individuals. This need for tailor-made medicine necessitates the deployment of pharma and biotech CRM software to efficiently manage patient information, monitor treatment results, and streamline the delivery of personalized healthcare. For illustration, the Personalized Medicine Coalition, a professional membership institution based in the US, revealed that 12 new bespoke medicines were approved in 2022, making up roughly 34% of all freshly sanctioned treatments, marking a substantial escalation compared to previous years. Consequently, the surging demand for personalized medicine is propelling the growth of the pharma and biotech CRM software industry.
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What Long-Term Trends Will Define the Future of the Pharma And Biotech CRM Software Market?
Prominent companies in the pharma and biotech CRM software market are increasingly integrating AI and machine learning functionalities into platforms like AI-driven personalized engagement platforms. This is in response to the growing need for advanced CRM tools specialized for the pharmaceutical and biotech sectors. AI-powered personalized engagement allows companies to send targeted and relevant communication to healthcare professionals, patients, and other involved parties. For example, in October 2023, Salesforce, Inc., a US-based provider of cloud software solutions, unveiled its new life sciences cloud designed to optimize patient engagement and clinical procedures with data, automation, and reliable AI. It equips pharmaceutical and medical tech companies to streamline patient engagement, clinical operations, commercial cycle management, and personalize stakeholder experiences throughout the drug and device development process.
Which Segments in the Pharma And Biotech CRM Software Market Offer the Most Profit Potential?
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 Dominate the Pharma And Biotech CRM Software Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Pharma And Biotech CRM Software Market?
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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