Healthcare Supply Chain Management Market
Global Healthcare Supply Chain Management Market Valued USD 2.14 billion in 2019, expanding at a CAGR of a CAGR of 7.2%, to touch USD 3.97 billion by 2028.
Increased need to improve operational efficiency and profitability and reduce operating costs, mainly through healthcare providers and manufacturers is propel the healthcare supply chain management market. The emergence of mobile-based solutions across the healthcare sector is further driving the growth of the healthcare supply chain management market. Also, the demand for quality inventory management system has helped the healthcare supply chain management market to grow considerably. Other factors such as better patient care as well as compliance with government regulations have also fuelled the market growth. The emergence of cloud-based solutions has greatly benefited the Global Healthcare Supply Chain Management market. The factors such as high cost related to the implementation & maintenance and time taken to implement the software have limited the market growth.
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A rapid increase in the adoption of unique device identification (UDI) for medical devices is anticipated to drive the healthcare supply chain management market in the forecast period.
• In 2013, to improve the traceability of medical devices across the supply chain, the FDA launched the UDI mandate.
It significantly improved patient safety and supply chain efficiencies and effectiveness in the healthcare system.
• In April 2016, the FDA UDI team conducted a conference in Baltimore (US) to guide and train healthcare providers, manufacturers of medical devices, healthcare industry professionals, and healthcare distribution groups on how to comply with the new regulations.
UDI helps to catch duplication and unauthorized serial numbers and also allows stakeholders to verify supply chain history for each product. Therefore, in the coming years, UDI will be propelling the healthcare supply chain management market.
The report provides information on the current scenario, detailed outlook on the global Healthcare Supply Chain Management market with thorough analysis of different segments which comprises of By Component (Software, Hardware), By Delivery Mode (On-premise, Cloud-based), By End users (Manufacturers, Distributors, Healthcare Providers).
Major Companies profiled in the report which are key players in the global Healthcare Supply Chain Management market are TECSYS, Manhattan Associates, Jump Technologies, JDA Software, LogiTag Systems, Oracle, McKesson, GHX, Infor, SAP AG Group, Providence Health & Services, Geisinger Health System.
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Recent trends of collaborations of local and global companies and the growing support of government and healthcare agencies are expected to have a synergistic effect on market growth. Such collaboration and exchange of technologies help in speeding up the development and boost the market competition.
• In May 2016, a group of health systems and leading sustainability organizations launched a new purchasing organization called Greenhealth Exchange (GX) that will enable hospitals to buy safe, green products more easily.
• In April 2019, Global Healthcare Exchange (GHX), a leader in cloud-based healthcare supply chain management solutions, recently launched the first of its new-generation products into the UK market, GHX Procure.
Regional Analysis
North America expected a dominant region due to increased hospital consolidation, regulatory requirements, improved chronic disease prevalence, increasing patient burden in the US will fuel the healthcare supply chain management market in the forecast period.
Asia Pacific is estimated to project the fastest growth rate in the global market during the forecast period. This growth is attributed to various factors, such as the rapid development of health infrastructure, increasing healthcare expenditure, and availability of potentially large patient pool. In this region, the healthcare system focuses majorly on reducing treatment costs and increasing patient awareness. The growing investment by industry players through the development of new manufacturing units in the region and rising medical tourism also contribute to market growth in the Asia Pacific.
Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for Healthcare Supply Chain Management during the forecast period.
An Overview of the report
1. The report offers insights on the global revenue of the Healthcare Supply Chain Management market
2. The recent market developments are scrutinized to project latest trends along with growth rate projections
3. Deeper understanding of the competitive landscape of the major companies operating in the market
4. New Opportunities and challenges for the global Healthcare Supply Chain Management market
5. Study of innovation and technological advancements in the industry
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Analysts have undertaken research based on in-depth understanding of the market with qualitative and quantitative data. The market has been segmented into various segments such as product and room type along with regional analysis. The segments and sub-segments offer insights on current and potential growth trajectories.
Market Segmentation:
By Component:
• Software
• Hardware
By Delivery Mode:
• On-premise
• Cloud-based
By End Users:
• Manufacturers
• Distributors
• Healthcare Providers
By Region:
North America
o By Country (U.S., Canada, Mexico)
o By Component
o By Delivery Mode
o By End Users
Western Europe
o By Country (Germany, U.K., France, Italy, Spain, The Netherlands, Rest of Western Europe)
o By Component
o By Delivery Mode
o By End Users
Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Component
o By Delivery Mode
o By End Users
Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Component
o By Delivery Mode
o By End Users
Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Component
o By Delivery Mode
o By End Users
Rest of the World
o By Region (South America, Africa)
o By Component
o By Delivery Mode
o By End Users
Customization:
We provide customization of the study to meet specific requirements:
• Country-specific market analysis
• Potential customers, future demand analysis along with in-depth technological know-how
• In-depth pricing analysis including set up cost, maintenance cost, and operational cost
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