Healthcare Supply Chain Management Market
Number of pages: 100 | Report Format: PDF | Published date: October 31, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 2.4 billion |
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Revenue forecast in 2030 |
US$ 5.16 billion |
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Growth Rate |
CAGR of 8.9% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
product, mode of delivery, end-user, and region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global healthcare supply chain management market was pegged at US$ 2.4 billion in 2021 and is expected to witness a CAGR of 8.9% during the forecast period.
Market Fundamentals
Healthcare supply chain management is a set of procedures, involving personnel from several teams and the transportation of goods that healthcare professionals need to do their duties, such as medications, surgical instruments, and other products. The supply chain in healthcare seeks to identify departmental weaknesses and recommend solutions to strengthen them. To attain the desired health outcome, it seeks to identify weak areas and raises investments in global health. Improved procedures, effective resource use, content staff, successful treatment, and contented patients are all benefits of an efficient supply chain in the healthcare industry.
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Market Dynamic
Some of the factors likely to drive the growth of the healthcare supply chain management market include rising demand for cloud-based solutions, the prevalence of funds from organizations, increasing pressure on healthcare providers to improve operational efficiency, the growing number of unique device identification (UDI) initiatives by the FDA, and rising drug counterfeiting in the pharmaceutical sector. The market for healthcare supply chain management is developing because of emerging economies' growing embrace of supply chain management solutions, including hardware and software.
However, in the forecast period, high maintenance and installation costs would restrain the growth of the global healthcare supply chain management market.
Market Ecosystem
The global healthcare supply chain management market has been analyzed from four perspectives: product, mode of delivery, end-user, and region.
Healthcare supply chain management Market by Product
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Based on product, the global healthcare supply chain management has been divided into hardware, software, and services. The hardware segment is further divided into, barcodes and RFID tags. The software sector dominates the global healthcare supply chain management market and is anticipated to grow at a high CAGR in the forecast period. One of the main factors driving the market growth is the expanding use of software like SaaS, which provides next-generation cloud computing applications like supply chain management enterprise resource planning. Due to improvements in software platforms and rising demand for services like support and maintenance, consulting, and education and training, the services segment is anticipated to develop at a second-faster rate than all other segments over the course of the projection period.
Healthcare supply chain management Market by Mode of Delivery
Based on the mode of delivery, the global healthcare supply chain management market is subdivided into, cloud-based, on-premises, and web-based. The cloud-based segment, which had a revenue share in 2021, stood out as one of the categories with the most potential, and it is projected that it would expand at the highest CAGR during the projection period. The use of cloud-based technologies has increased because of numerous security holes in web-based and on-premises deployments. Cloud-based services already rule the market, and experts predict that this trend will persist.
Healthcare supply chain management Market by End User
Based on end-user, the global healthcare supply chain management market is divided into healthcare manufacturers, healthcare providers, distributors, and logistics. The healthcare manufacturer segment dominates the market. The growing adoption of SaaS software by healthcare manufacturers is the driving trend for the global market. On the other hand, the healthcare providers segment holds the second position in the market. This is attributed to the rise in the adoption of cloud-based software solutions in hospitals.
Healthcare supply chain management Market by Region
Based on region, the global healthcare supply chain management market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Due to the prevalence of enhanced healthcare infrastructure and the rising number of programs for unique device identification, North America currently controls most of the global market for healthcare supply chain management. Large manufacturing hubs are another element influencing the expansion of the area. Increasing patient loads in the United States, the prevalence of chronic diseases, regulatory requirements, and the application of various ways to improve healthcare supply chain management in Canada are additional reasons that contribute to the rise. Drugs can now be tracked thanks to the increased use of scanning technology like barcodes and RFID to stop the sale of fake medicines.
Competitive Landscape
Some of the prominent players operating in the global healthcare supply chain management market are: -
Strategic Developments
The global healthcare supply chain management market is expected to grow at a CAGR of 8.9% in the forecast period.
SAP SE., Oracle Corporation., and Infor Inc. are a few key players in the global healthcare supply chain management market.
The cloud-based segment dominates the global healthcare supply chain management market.
Asia Pacific region is expected to witness the highest global healthcare supply chain management market growth in the forecast period.
*Insights on financial permanence is subject to availability of information in public domain