Global Healthcare Supply Chain Management Market Report and Forecast 2024-2032

Global Healthcare Supply Chain Management Market Outlook

The global market for healthcare supply chain management reached a value of about USD 2.77 billion in 2023. The market is further expected to grow at a CAGR of about 7.8% in the forecast period of 2024-2032 to reach a value of around USD 5.44 billion by 2032 owing to the emergence of cloud-based solutions.

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North America and Asia Pacific to be Significant Regional Markets for Healthcare Supply Chain Management

Due to the increasing number of unique device identification initiatives and improved healthcare infrastructure, North America is expected to dominate the healthcare supply chain management market during the forecast period. This large share can also be attributed to factors such as the consolidation of hospitals, large manufacturing hubs, the rising prevalence of chronic diseases, and growing awareness in the region. Constantly developing healthcare and IT infrastructure and rising demand for cloud computing contribute significantly to the market growth. The United States is the largest market for healthcare technologies as several companies in the country provide healthcare technology services. Due to the well-established healthcare system, the United States is expected to have the largest market share. The rising adoption of scanning technologies such as barcodes and RFID by manufacturers to curb counterfeit drugs is also aiding the market growth in the region.

Asia Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2027 due to the availability of mobile-based healthcare solutions and technological advancements in countries such as India, China, and Japan. The rising number of government initiatives to inspire healthcare providers and other healthcare organisations to adopt cloud-based software solutions to improve inventory management systems is also expected to propel the healthcare supply chain management market in the Asia Pacific region over the forecast years.

Market Segmentations

Supply chain management (SCM) is a critical part of the healthcare business that necessitates strategic material management and distribution systems to reduce costs and increase efficiency in providing quality patient care. In the healthcare industry, supply chain systems assure the timely delivery of medical goods such as medications, surgical kits, and medical devices.

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The several components in the market are:

• Software
• Hardware
• Services

Based on delivery mode, the market is divided into:

• On-Premises
• Cloud-Based

The end-uses of the healthcare supply chain management market are:

• Healthcare Providers
• Healthcare Manufacturers
• Distributors
• Others

The regional markets for healthcare supply chain management can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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The Emergence of Cloud-Based Solutions Propelling the Market Growth

The emergence of cloud-based and mobile-based solutions across the healthcare industry is propelling the market growth of healthcare supply chain management. Increasing funds from organisations, rising pressure on healthcare providers to enhance operational efficiency, growing drug counterfeiting in the pharmaceutical industry, rapid increase in the adoption of GS1 standards and unique device identification (UDI) for medical devices are some of the factors expected to accelerate the growth of the market in the forecast period. Further, increasing the need to improve operational efficiency and profitability and reduce operating costs, mainly by healthcare providers and manufacturers, is augmenting the growth of the target market. Other important factors driving the global market growth include a growing emphasis on automation of healthcare processes and the increased adoption of cutting-edge technologies such as AI, Big Data, Blockchain, and the Internet of Things (IoT). Additionally, the increased need for improved patient care, patient data management, and stringent regulatory standards for healthcare supply chain management systems are projected to fuel global market expansion.

Key Players in the Global Market for Healthcare Supply Chain Management

The report gives a detailed analysis of the following key players in the global healthcare supply chain management market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Jump Technologies, Inc.
• Infor
• Vizient Inc.
• Tecsys Inc.
• McKesson Medical-Surgical
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report