Pune, India, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Global healthcare supply chain management market size was USD 2.61 billion in 2022 The market is anticipated to rise from USD 7.96 billion by 2030 exhibiting a CAGR of 15.0% over the estimated period. North America to Emerge as a Prominent Region Due to Rising Product Deployment by Healthcare Providers
The rise is driven by the growing demand for effective solutions on account of the increasing adoption of cost-cutting strategies by physicians and hospitals.
Fortune Business Insights™ provides this information in its research report, titled “Healthcare Supply Chain Management Market, 2023-2030”.
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Key Industry Development:
April 2023 – GHX (Global Healthcare Exchange) acquired Prodigo Solutions, Inc. The deal would help healthcare providers simplify the process from procurement to pay, paving the way to a future of quality and affordable healthcare.
Key Takeaways :
- COVID-19 Pandemic Negatively Impacted the Market due to Lockdown Restrictions
- Growing Adoption of Radio Frequency Identification (RFID) to Improve Operational Efficiency
- Launch of Advanced Supply Chain Solutions to Propel Market Growth
- Increasing Adoption of Cloud-based Solutions to Support Market Growth
- High Costs Associated with the Supply Chain Management Software to Restrict Market Growth
- Strong Product Offerings by Key Players to Propel Market Growth
List of Key Players Mentioned in the Report:
- Oracle (U.S.)
- Tecsys Inc. (Canada)
- Global Healthcare Exchange, LLC. (U.S.)
- Ascension (U.S.)
- Ochsner Health (U.S.)
- Banner Health (U.S.)
- Henry Schein, Inc. (U.S.)
- McKesson CORPORATION (U.S.)
- Cardinal Health (U.S.)
- Epicor Software Corporation (U.S.)
COVID-19 Impact:
Enforcement of Lockdown Restrictions Negatively Impacted Industry Expansion amid COVID-19 Pandemic
The coronavirus pandemic led to the enforcement of lockdown restrictions, affecting market expansion to a considerable extent. The period resulted in disruptions in the supply chain, impacting industry expansion. However, the product demand witnessed revival following the lifting of restrictions in various regions.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/healthcare-supply-chain-management-market-101051
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2021 to 2028 CAGR | 15.0% |
| 2030 Value Projection | USD 7.96 Billion |
| Base Year | 2022 |
| Healthcare Supply Chain Management Market Size in 2022 | USD 2.61 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 141 |
| Segments covered | By Component, By Delivery Mode, By End User |
Drivers and Restraints:
Increasing Launch of Advanced Solutions to Drive Industry Expansion
The healthcare supply chain management market growth is being propelled by the increasing rollout of advanced solutions such as advanced supply chain planning and e-procurement solutions. These products can be deployed for manufacturing, procurement, transportation, as well as storage.
However, high costs associated with the solutions and services may hamper industry growth to some extent.
Segments:
Software Segment to Lead Driven by Increasing Adoption of Technologically Advanced Solutions
On the basis of component, the market for healthcare supply chain management is subdivided into services, software, and hardware. The software segment dominated the market and is set to expand at a notable pace over the forecast period. The growth can be credited to the increasing adoption of technologically advanced software for workflow management.
Cloud-based Segment to Gain Traction Due to Growing Launch of these Solutions
By delivery mode, the market is segmented into cloud-based and on-premise. The cloud-based segment held a major share in the market in 2022. This can be attributed to various advantages such as monitoring, mitigation, and identification of vulnerabilities in the supply chain and the growing launch of various cloud-based solutions.
Healthcare Providers Segment Holds Key Share on Account of Soaring Product Adoption
Based on end-user, the market for healthcare supply chain management is fragmented into healthcare manufacturers, healthcare providers, and others. The healthcare providers segment registered a key share in the global market in 2022 and is set to register notable expansion over the projected period. The rise is driven by the surging adoption of cloud-based software in hospitals and other healthcare units.
Based on geography, the market for healthcare supply chain management has been studied across North America, Europe, Asia Pacific, and the rest of the world.
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Report Coverage:
The report provides an insight into the key driving and restraining factors. Furthermore, it delves into the major trends impelling industry growth over the projected period. Some of the additional aspects of the report include the impact of COVID-19 pandemic, recent developments, and an analysis of the market scenario across various regions.
Regional Insights:
North America to Emerge as a Prominent Region Due to Rising Product Deployment by Healthcare Providers
North America held a dominating healthcare supply chain management market share. The region is poised to exhibit substantial growth over the study period. The surge can be credited to the surging product adoption by healthcare providers in the region.
The Europe market is anticipated to exhibit a notable CAGR over the estimated period. The expansion can be attributed to the surging adoption of barcodes, RFID, and tags for tracking healthcare products and drugs.
Competitive Landscape:
Pivotal Companies Enter into Partnerships to Expand Product Reach
Major industry participants are keen to ink partnership agreements and collaborations in a bid to expand the reach of their products. Several healthcare supply chain management companies also focus on research and development activities and participate in trade fairs and conferences to strengthen their business prospects. Other strategies adopted by key players comprise the formation of alliances, acquisitions, and launch of new products.
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Table of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Pricing Analysis, Key Players, Key Countries/ Regions, 2022
- Overview of Regulatory Scenario –For Key Regions/Countries
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Impact of COVID-19 on Healthcare Supply Chain Management Market
- Global Healthcare Supply Chain Management Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Component
- Software
- Hardware
- Services
- Market Analysis, Insights and Forecast – By Delivery Mode
- On-premise
- Cloud-based
- Market Analysis, Insights and Forecast – By End User
- Healthcare Providers
- Healthcare Manufacturers
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Component
- North America Healthcare Supply Chain Management Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Component
- Software
- Hardware
- Services
- Market Analysis, Insights and Forecast – By Delivery Mode
- On-premise
- Cloud-based
- Market Analysis, Insights and Forecast – By End User
- Healthcare Providers
- Healthcare Manufacturers
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Market Analysis, Insights and Forecast – By Component
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- Europe Healthcare Supply Chain Management Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Component
- Software
- Hardware
- Services
- Market Analysis, Insights and Forecast – By Delivery Mode
- On-premise
- Cloud-based
- Market Analysis, Insights and Forecast – By End User
- Healthcare Providers
- Healthcare Manufacturers
- Others
- Market Analysis, Insights and Forecast – By Country/Sub-region
- U.K.
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FAQs :
How big is the Healthcare Supply Chain Management Market?
- The global healthcare supply chain management market size was USD 2.61 billion in 2022. The market is anticipated to rise from USD 2.99 billion in 2023 to USD 7.96 billion by 2030, exhibiting a CAGR of 15.0% over the estimated period.
What are the key factors driving the Healthcare Supply Chain Management Market?
- The growing awareness regarding the need for supply chain management solutions along with increasing adoption of advanced solutions drives the global market.
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