Chicago, Feb. 08, 2022 (GLOBE NEWSWIRE) -- The healthcare supply chain management market is expected to grow at a CAGR of over 8% during the period 2022−2027.
Key Highlights
- The growth of the global healthcare supply chain management market is driven by factors such as improved supply chain network of manufacturers, growing pressure in healthcare Industry for Cost Reduction, rise in the adoption of advanced system such as GS1 System of Standards and the Food and Drug Administration’s (FDA’s) unique device identifier (UDI) system.
- The positive impact of COVID-19 on the global supply chain management market as the demand for gloves, medical masks, medicines, and sanitizers increased during the pandemic which disrupted the standard of supply chain. Though, this forced the manufacturers and providers to adopt SCM software to streamline the process.
- North America region dominated the geography segment with the highest incremental growth of USD 914.26 million. However, the APAC region will grow with the highest growing CAGR of 9.25% during the forecast period because of the growing acceptance and increasing technological advancements in the region.
- Software component type dominated the component type segment in the market. The growth of this segment is driven by the number of advantages offered by supply chain management software.
- Healthcare manufacturers are widely using the supply chain management solutions for transportation and warehouse management to make sure faster, more accurate, and more effective functioning.
- The key players in the global healthcare supply chain management market such as Tecsys and Oracle are focusing on expanding their market presence through mergers and acquisitions.
Healthcare Supply Chain Management Market Segmentation
The software industry is distinguished by rapid technological change and frequent new product introductions. The innovative software products built on top of the SAP Leonardo intelligent platform employ machine learning and IoT to bring visibility, forecasting, analytics, and collaboration to the next level. Moreover, developing an e-procurement model can help an enterprise to analyse its expenditure and cut procure-to-pay cycle times by half. For instance, PRM360's procurement solution allows hospitals to monitor the cost of supplies and services and simplify procure-to-pay processes. The planning & procurement sub-segment is projected to grow at a CAGR of 9.26% to reach USD 1,357.74 million by 2027.
Healthcare Supply Chain Management Market by Component
- Software and Services
- Planning and Procurement
- Inventory and Warehousing
- Hardware
- Barcode and Barcode Scanners
- RFID Tags and Readers
Healthcare Supply Chain Management Market by Deployment
- On-Premises
- Cloud-Based
Healthcare Supply Chain Management Market by End-User
- Healthcare Manufactures
- Healthcare Providers
- Distributors and Retailers
- Logistic Companies
Healthcare Supply Chain Management Market by Geography
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- APAC
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- Turkey
- South Africa
- Saudi Arabia
Competitive Analysis
Several vendors are offering a comprehensive range of supply chain management products, that can be deployed on-premises or on the cloud. Major players such as Cardinal Health, Tecsys Inc., Oracle Corporation, and SAP SE collectively account for significant shares in the global market. The growing trend of cloud base services are creating immense opportunities for the vendors to explore and expand their market growth. However, the major players are facing stiff competition from emerging players. Although the market is dominated by key players, the other players are also focusing on providing low-cost supply chain management products to their customers.
PROMINENT VENDORS
- Oracle Corporation
- Cardinal Health
- Tecsys Inc.
- SAP
OTHER PROMINENT VENDORS
- Arvato Supply Chain Management Solutions
- BlueBin
- Blue Yonder Group Inc.
- Curvolabs
- Epicor Software Corporation
- Global Healthcare Exchange
- Harris Affinity
- Hybrent
- Infor
- Jump Technologies Inc
- LogiTag Systems
- Manhattan Associates
- Medsphere Systems Corporation
- Par Excellence Systems
- Premier Inc
- Swisslog Healthcare
- Syft
- Vizient Inc.
Explore our healthcare & lifesciences profile to know more about the industry.
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