The Business Research Company’s report on the Healthcare Supply Chain Management Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the healthcare supply chain management market in recent years?
The increasing globalization is expected to propel the growth of the healthcare supply chain management market going forward. Globalization is being used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Globalization improved healthcare management by improving healthcare knowledge and providing low-cost healthcare technologies. For instance, in April 2024, according to the International Monetary Fund, a US-based financial institution, predicts that the global economy will grow by 3.2 percent during 2024 and 2025, at the same pace as in 2023. Therefore, increasing globalisation is driving the growth of the healthcare supply chain management market.
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What is the projected market size of the healthcare supply chain management industry, and how is it expected to grow?
The healthcare supply chain management market size has grown rapidly in recent years. It will grow from $3.09 billion in 2024 to $3.52 billion in 2025 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to cost control, regulatory compliance, need for inventory management, vendor collaboration, demand forecasting.
The healthcare supply chain management market size is expected to see rapid growth in the next few years. It will grow to $5.64 billion in 2029 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to telehealth expansion, value-based care, increasing sustainability, regulatory changes, supply chain resilience. Major trends in the forecast period include digitalization and automation, predictive analytics, iot and rfid tracking, blockchain for transparency, lean and agile supply chain.
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Who are the key players driving competition in the healthcare supply chain management market?
Major companies operating in the healthcare supply chain management market include SAP AG Group, Oracle Corporation, McKesson Corporation, TECSYS Inc., Global Healthcare Exchange LLC, Cardinal Health Inc., Determine Epicor, Llamasoft Ltd., Manhattan Associates, Blue Yonder Group Inc., Cerner Corporation, Jump Technologies Inc., LogiTag Systems, Harris Affinity, Premier Ltd., Accurate InfoSoft Pvt. Ltd., Hybrent Inc., Arvato Systems, Jabil Inc., AmerisourceBergen Corporation, Infor Global Solutions, Henry Schein Inc., Manhatten Associates, Becton Dickinson and Company, Owens & Minor Inc., Medtronic plc, Novo Nordisk AS, Stryker Corporation, F. Hoffmann-La Roche AG, Boston Scientific Corp., Biogen Inc., Johnson & Johnson Services Inc.
What key trends are expected to drive the healthcare software as a service market during the forecast period?
Major companies operating in the healthcare supply chain management market are developing advanced products, such as cloud-based platforms, to improve operational efficiency, enhance real-time data visibility, and streamline procurement, inventory, and logistics processes within healthcare organizations. Cloud-based platforms are digital infrastructures that operate on remote servers accessed via the internet, rather than being hosted on local or on-premise servers. For instance, in March 2024, United Parcel Service (UPS) Inc., a US-based shipping & receiving and supply chain management company launched UPS Supply Chain Symphony for UPS Healthcare. UPS Supply Chain Symphony is a cloud-based platform designed to enhance healthcare supply chain management by integrating various logistics components into a single system. This tool allows users to manage and visualize their warehouse and transportation data efficiently, providing insights that can optimize supply chain operations. Users can monitor shipment details from origin to destination, along with on-demand reports that detail UPS shipments, warehouse status, and inventory levels.
Which key geographies are driving the growth of the healthcare supply chain management market?
North America will be the largest region in the healthcare supply chain management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare supply chain management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the healthcare supply chain management market?
The healthcare supply chain management market covered in this report is segmented –
1) By Component: Software Application, Hardware Type
2) By Delivery Mode: On-Premise, Cloud Based
3) By End-User: Healthcare Providers, Healthcare Manufacturers, Other End-Users
Subsegments:
1) By Software Application: Inventory Management Software, Procurement Management Software, Supply Chain Analytics Software, Order Management Software
2) By Hardware Type: Barcode Scanners, RFID Systems, Mobile Computing Devices, Point-Of-Care Devices
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What defines the structure and scope of the healthcare supply chain management market?
Healthcare supply chain management refers to a process that efficiently manages the workflow of the supply of medical goods and services from manufacturers to patients. It involves obtaining resources, managing supplies, and delivering goods and services to providers and patients.
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