The global healthcare supply chain management market size is expected to reach USD 3.4 billion by 2025, according to a new report by Grand View Research, Inc., registering an 8.7% CAGR during the forecast period. Growing adoption of GS1 standards and Unique Device Identification (UDI), emergence of cloud-based solutions for the healthcare industry, and increasing adoption of mobile-based supply chain management solutions are key factors contributing to market growth. Growing requirement for reduction in operating costs among healthcare organizations is another major factor positively impacting the market.
Increasing
pressure encountered by healthcare providers to improve operational
profitability and efficiency plays a vital role in increasing revenue growth.
Growing demand to limit large-scale counterfeiting of drugs in the
pharmaceutical industry is also boosting the growth of the market. Significant
improvements in supply chain management solutions with respect to data security
is fueled by changing health patterns of the population. According to CDC, half
of the adult population in the U.S. has one or more chronic health conditions.
This further helps in creating a more patient-centered supply chain that can be
provided when and where patients need it.
Mobile
apps have become an essential part of supply chain management solutions and
logistic companies in developed as well as developing countries have begun
relying on GPS-enabled mobile applications.There are several supply chain
management apps available today. For instance, Curvo Labs designed a platform
to upsurge supply chain efficiency by automating and modernizing supply chains
in hospitals and healthcare organizations.
Market
players such Oracle Corporation; SAP; Logi-Tag Systems; McKesson Corporation;
Manhattan Associates; Tecsys; Infor Inc.; Global Healthcare Exchange (GHX);
Jabil; and AmerisourceBergen are focused on increasing collaborations with
other industry players to gain a competitive edge. Mergers and acquisitions and
service differentiation are some of the other key strategies adopted by these
companies to strengthen their market presence. For instance, in March 2019,
Jump Technologies collaborated with X3 Consulting Group to streamline supply
chain processes and mitigate risks for hospitals by implementing the Jump Stock
software solution.
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Healthcare Supply
Chain Management Market Report Highlights
- By product,
software emerged as the largest segment in 2018 with a revenue share of
39.2%
- Based on mode
of delivery, the cloud-based segment accounted for the dominant revenue
share in 2018. The segment is also expected to exhibit the fastest CAGR
over the forecast period
- On the basis
of end use, healthcare manufacturers emerged as the leading segment.
However, distributors are expected to register significant growth rate
through 2025
- North America
accounted for the largest share due to rising patient burden in the U.S.,
implementation of various strategies to enhance healthcare supply chain
management, and growing adoption of scanning technologies such as barcodes
and RFID in the region
- Asia Pacific
is anticipated to exhibit a lucrative CAGR of 9.7% over the forecast
period owing to increased implementation of technologically advanced
solutions in countries such as, China, India, and Japan
- Oracle
Corporation; SAP; Tecsys; Infor Inc.; Manhattan Associates; Global
Healthcare Exchange (GHX); Logi-Tag Systems; AmerisourceBergen; and Jabil
are some of the leading players in the market.
Healthcare Supply
Chain Management Market Segmentation
Grand View Research has
segmented the global healthcare supply chain management market on the basis of
product, mode of delivery, end-use, and region:
Healthcare Supply
Chain Management Product Outlook (Revenue, USD Million, 2014 - 2025)
- Software
- Hardware
- Barcodes
- RFID Tags
- Services
Healthcare Supply
Chain Management Mode of Delivery Outlook (Revenue, USD Million, 2014 - 2025)
- On-premise
- Cloud-based
- Web-based
Healthcare Supply
Chain Management End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Healthcare Manufacturers
- Healthcare Providers
- Distributors
- Logistics
Healthcare Supply
Chain Management Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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