Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) — The global healthcare supply chain management market is projected to reach value of USD 5.29 Billion by 2032, according to a current analysis by Emergen Research. Supply chain management in the healthcare sector encompasses resource procurement, supplies management, and distribution of goods and services to healthcare providers as well as patients. Implementation of mobile-based supply chain management in the healthcare sector is estimated to augment the market in the next few years.
Another factor driving the healthcare supply chain management market is increasing workload on healthcare providers to work efficiently and increase profitability. Emergence of cloud-based solutions is also fueling the market. These solutions are used to track, record, and trace delivery of the drugs that are shipped.
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Healthcare supply chain management is highly complex, which restrains the market. Increasing regulatory requirements, inadequate reporting of data, poor standardization of products, and lack of automation throughout the entire process also hamper the market. However, substantial growth of pharmaceutical and healthcare sectors is anticipated to propel the market during the forecast period. Healthcare supply chain management aids in financial management, smooth flow of information throughout the entire supply chain, and labor optimization.
Segments Covered in Report
|The market size in 2019||USD 2.04 Billion|
|The revenue forecast in 2032||USD 5.29 Billion|
|Base year for estimation||2019|
|Quantitative units||Volume in tons, revenue in USD Billion, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, delivery mode, end-user, and region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey.|
|Key companies profiled||SAP SE, Oracle, Tecsys Inc., Cardinal Health, Epicor, Infor, Global Healthcare Exchange, McKesson Corporation, Manhattan Associates, and Cerner|
|Customization scope||10 hours of free customization and expert consultation|
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MAJOR COMPANIES and Market Share Analysis
The global market for healthcare supply chain management is fairly fragmented, with numerous small- as well as medium-sized manufacturers accounting for a major share of the global market. Manufacturers operating in the market are desegregated across the value chain. Key companies operating in the market are well-equipped with large manufacturing facilities and are also engaged in various research and development activities. Some of the prominent players operating in the healthcare supply chain management market are:
- SAP SE
- Tecsys Inc.
- Cardinal Health
- Global Healthcare Exchange
- McKesson Corporation
- Manhattan Associates
- In December 2020, Sterling Healthcare Logistics announced the acquisition of ABS Vaccines, thereby expanding its product/service portfolio. The acquisition would strengthen Sterling’s objective to provide an innovative solution that would increase efficiency across the healthcare sector.
- In December 2020, LogiNext announced the launch of a COVID-19 tracking platform and vaccine supply chain management. Reliable supply chain management is the need of the hour when several regions are witnessing increase in the number of coronavirus patients.
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Key Highlights of Report
- The warehouse management software for healthcare eliminates the need for paper files, manual data entry, and forms by automation of records that determine how medical inventory is stored, received, and used. The software helps in controlling medical inventory and procedures related to management of inventory levels.
- Cloud computing offers cost flexibility and it has potential to reduce the overall healthcare cost. High capital expenditure can be eliminated, as there is no need for installation and maintenance.
- Europe held the second-largest market share in the global healthcare supply chain management market in 2019. The European Commission made it a priority to approve a legislation about Unique Device Identification (UDI) medical devices. Growth in availability of counterfeit drugs has also propelled the market in the region.
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For the purpose of this report, Emergen Research has segmented the global healthcare supply chain management market based on component, delivery mode, end-user, and region as follows:
- Component Outlook (Revenue, USD Billion; 2023–2032)
- Purchasing Management Software
- Procurement Software
- Strategic Sourcing Software
- Supply Management Software
- Capital Purchasing Software
- Transportation Management Software
- Inventory Management Software
- Warehouse Management Software
- Implant Management Software
- Order Management Software
- Consignment Management Software
- Tissue Management Software
- Purchasing Management Software
- Barcodes & Barcode Scanners
- RFID Tags & Readers
- Delivery Mode Outlook (Revenue, USD Billion; 2023–2032)
- On-premises Delivery
- Cloud-based Delivery
- End-user Outlook (Revenue, USD Billion; 2023–2032)
- Regional Outlook (Revenue, USD Billion; 2023–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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