Global Healthcare Supply Chain Management Market Size By End User (Manufacturers, Distributors, Providers), By Component (Software, Hardware), By Delivery (Web-Based, Cloud-Based, On-Premise), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Healthcare Supply Chain Management Market Size By End User (Manufacturers, Distributors, Providers), By Component (Software, Hardware), By Delivery (Web-Based, Cloud-Based, On-Premise), By Geographic Scope And Forecast

Healthcare Supply Chain Management Market Size and Forecast

Healthcare Supply Chain Management Market size was valued at USD 2,217.98 Million in 2020 and is projected to reach USD 4,394.94 Million by 2028, growing at a CAGR of 8.68% from 2021 to 2028.

The adoption of the GS1 system of standard in the healthcare industry globally, an increase in overall profitability, and the emergence of cloud-based solutions are expected to drive the healthcare supply chain management market over the predicted years. The Global Healthcare report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Healthcare Supply Chain Management Market Definition

In the world of healthcare, managing supplies is like having a secret sauce that keeps everything running smoothly. It's all about getting the right stuff, in the right place, at the right time. Why? Because every patient deserves the best possible care. A well-oiled supply chain system is like a superhighway for medical supplies. It's a way to deliver drugs, tools, and everything a doctor or nurse needs to treat patients on time and at the right location. And when the supply chain is flowing smoothly, patients get the best possible care. But here's the catchhealthcare costs are on the rise. And that's got everyone from doctors to patients to manufacturers worried. The problem is that healthcare supply chains are often filled with roadblocks like slow and outdated processes, fake drugs, and hidden costs that make it hard to keep things affordable.

Global Healthcare Supply Chain Management Market Overview

As the medical field continues to grow, there's a growing need to have doctors working closely with the supply chain of healthcare products and services. This ensures that patients have the best possible care. When companies merge, it often means that their supply chains need to be combined as well. The key to a successful merger is to get the hospital staff and doctors involved in managing the supply chain, so that medical orders and supplies are handled effectively for patient care. Cardinal Health has a healthcare supply chain innovation laboratory that uses the Internet of Things (IoT) to speed up the transfer and analysis of big data for patient monitoring. This solution allows doctors to make real-time decisions about issues like medical product consumption and expiration dates. It also helps to reduce the overall cost of care. Cardinal Health is also focusing on automating inventory management in procedural areas. They currently track products in over 2,700 hospitals in 41 countries.

However, Regulatory bodies such as the FDA mandate healthcare companies to maintain an optimum level of traceability of health products in their SCM system. These bodies help eliminate defective and counterfeit healthcare products from the system. Therefore, healthcare firms need to implement a high level of accuracy to track products at any point of time in the supply chain. In addition, inventory management systems tag shipped products with serial numbers to enable viable tracking and to resolve quality issues.

Global Healthcare Supply Chain Management MarketSegmentation Analysis

The Global Healthcare supply chain management market is segmented based on End-User, Component, Delivery, And Geography.

Healthcare Supply Chain Management Market, By End-User

  • Manufacturers
  • Distributors
  • Providers

Imagine the healthcare system is a vast playground with various players. Let's divide them into three main groupsMakers (Manufacturers)These folks create everything from pills to medical gadgets. They're the big players, controlling most of the game. Middlemen (Distributors and Providers) Think of them as the delivery guys. They connect the makers with hospitals and clinics, making sure the products reach those who need them. Payers These are the ones who foot the bill for treatment. They can be insurance companies, governments, or even patients themselves. Now, let's talk numbers. The makers have been ruling the field, with the biggest chunk of the market. And they're expected to keep growing like weeds, at an impressive rate. Why? Well, they've got the raw materials and the factories to whip up all the healthcare stuff we need. And they've got distribution systems in place to get their products to hospitals and clinics in a flash. The middlemen, like cost and freight companies and dealers, play a crucial role in bridging the gap between makers and buyers. They act as the go-betweens, ensuring that hospitals and clinics get the supplies they need. And finally, we've got the payers. They're the ones who make sure the bills get paid. Health insurance companies take care of their members, while governments might cover healthcare expenses for their citizens.

Healthcare Supply Chain Management Market, By Component

  • Software
  • Hardware

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The healthcare supply chain management market is divided into software and hardware components. Software takes the lead, holding the biggest market share. And it's expected to keep growing the fastest, with a whopping 9.88% annual growth rate over the next few years. Software and hardware come in all sorts of forms for healthcare supply chain management. But software is clearly winning the popularity contest. Why? Because of the rise in online shopping, better access to business data, and the push for greener logistics. Software solutions make tracking inventory and managing purchases a breeze. And they help businesses save money by cutting down on supplier inquiries and handling accounts payable more efficiently.

Healthcare Supply Chain Management Market, By Delivery

  • Web-Based
  • Cloud-Based
  • On-Premise

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When it comes to using software for healthcare supply chain management (SCM), there are different ways to get it to you. The main ones are cloud-based, web-based, and on-premises. In 2020, cloud-based SCM was the most popular choice, and it's expected to keep growing the fastest over the next few years. With cloud-based software, it's like the software lives in a special internet space instead of on a computer right next to you. This means a company manages the software for you in a safe and secure place. What makes cloud-based SCM so great is how easy it is to use. All you need is a device with an internet connection and a web browser. That means you can get to your data from anywhere in the world. No more needing to connect to your company's computer network or having to be in a specific location. With cloud-based solutions, your data is always just a few clicks away.

Healthcare Supply Chain Management Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Different parts of the world have different healthcare supply chain management needs. In 2020, North America was the biggest market, and it's predicted to keep growing the fastest, at 7.63% a year until 2028. This is because of government programs like Obamacare, which has changed healthcare insurance in the US. Companies in North America are also paying more attention to risks and making sure they meet rules, which is making them want to improve their supply chains. Hospitals are also investing in their supply chains to make them more efficient and lower the rising cost of healthcare. Upgrading the supply chain process with technology helps reduce waste throughout the system and saves a lot of money.

Key Players

The major players in the market are Mckesson Corporation, Oracle Corporation, Sap, Cerner Corporation, Infor, Logitag Systems Ltd., Harris Healthcare Group, Global Healthcare Exchange (Ghx), Jump Technologies, Inc., Tecsys, Inc, and others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• In 2019, SAP SE collaborated with Microsoft Corporation to enhance consumer implementation of SAP Cloud Platform and SAP S/4 HANA on Microsoft Azure.

• In June 2020, Blue Yonder Software has collaborated with Locus Robotics, a pioneer in autonomous mobile robots 9 (AMR) for execution warehouses. The partnership developed the implementation of both companies’ innovative warehouse software solutions as well as provided Blue Yonder and Locus customers with faster deployments, more obtainable integration, and fully functional integration.

Mergers and Acquisitions

• In 2020, Infor acquired Intelligent InSite.

• In November 2018, TECSYS Inc. (TSXTCS), an industry-leading supply chain management software company, today announced its acquisition of Order Dynamics Corporation, a fast-growing leader in out-of-the-box distributed order management software based in Richmond Hill, Ontario. In the age of Omnichannel fulfilment and heightened retailer and consumer expectations, Order Dynamics has excelled at providing intuitive technology that simplifies the retail supply chain

Product Launches and Product Expansions

• In 2019, Oracle has launched Intelligent Track and Trace, a blockchain application.

• In September 2021, Tecsys Inc., an industry-leading supply chain management software company, announced that it was included in the Toronto Stock Exchange’s 2021TSX30, a flagship program recognizing the 30 top-performing TSX stocks over three years predicated on dividend-adjusted share price growth.

Report Scope

Report AttributesDetails
Study Period

2017-2028

Base Year

2020

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Million)

Key Companies Profiled

Mckesson Corporation, Oracle Corporation, Sap, Cerner Corporation, Infor, Logitag Systems Ltd., Harris Healthcare Group, Global Healthcare Exchange (Ghx), Jump Technologies, Inc., Tecsys, Inc, and others.

Segments Covered
  • End-User
  • Component
  • Delivery
  • Geography
Customization scope

Free report customization (equivalent up to 4 analyst’s working days)  with purchase. Addition or alteration to country, regional & segment scope

Healthcare Supply Chain Management Market Infographic

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