DUBLIN--(BUSINESS WIRE)--The "Healthcare Supply Chain Management Market by Component (Software, Inventory, Order, Warehouse, Purchase, Implant, Transport, Strategic Sourcing, Consignment, Hardware, Barcode, Scanner, RFID), Delivery (On Premise,Cloud), End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global healthcare supply chain management market is projected to reach a value of USD 3,256.4 million by 2025, from USD 2,221.8 million in 2020, at a CAGR of 7.9% during the forecast period.
The key factors driving the growth of this market include the adoption of GS1 system of standard in the healthcare industry globally, the emergence of cloud-based solutions, reduction in operational costs by improving the efficacy and increase in overall profitability. However, the high cost of implementation of supply chain management software is expected to restrict market growth to a certain extent.
Increased adoption of the software-based system is expected to enhance the growth of the market.
Healthcare supply chain management systems are available as two components, software, and hardware. The software system is highly acceptable compared to hardware systems due to the increasing number of online purchases, improving business intelligence, and growing preference for eco-friendly logistics. This is said to enhance the growth of the healthcare supply chain management market in the forecast period.
The cloud-based segment will grow at the highest rate during the forecast period.
Based on delivery mode, the healthcare supply chain management market is segmented into on-premise and cloud-based. Though the on-premise segment holds the largest share in the market, the cloud-based segment is expected to register the highest growth over the forecast period. Cloud-based solutions help healthcare organizations share and integrate information from disparate locations; these solutions also offer minimum costs of installation and maintenance. Such advantages are driving market growth in this segment.
Manufacturers are said to account for the largest share in the HSCM market, by the end-user.
Based on the end user, the healthcare supply chain management market is segmented into manufacturers, providers, and distributors. Manufacturers have to cater to the increasing demand for products from their end-users. Owing to this, manufacturers mainly look for supply chain management solutions for transportation and warehouse management to ensure faster, more accurate, and more efficient functioning. This has resulted in an increased demand for supply chain management solutions in this segment.
The market in North America is projected to witness the highest growth rate during the forecast period (2020-2025).
North America is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as the consolidation of hospitals, rising prevalence of chronic diseases, and growing awareness in the region. On the other hand, the European region is expected to grow at the second-highest CAGR during the forecast period, followed by APAC and ROW.
- Increasing Pressure on Healthcare Providers to Improve Operational Efficiency and Profitability
- Implementation of the UDI Initiative by the FDA
- Emergence of Cloud-Based Solutions
- Adoption of the GSL System of Standards
- Continuous Support in the Form of Funding, Investments, and Partnerships
- Large-Scale Drug Counterfeiting in the Pharmaceutical Industry
- High Costs Associated With the Implementation and Maintenance of Healthcare Supply Chain Management Solutions
- Mobile-Based Healthcare Supply Chain Management Solutions
- Clinical and Supply Chain Integration
- AI and Analytics in the Healthcare Supply Chain
- Blockchain in Healthcare Supply Chain Management
Limited Awareness on Supply Chain Management Tools
- Sap SE
- Mckesson Corporation
- Global Healthcare Exchange
- Cardinal Health
- Manhattan Associates
- Blue Yonder (JDA Software)
- Jump Technologies
- Logitag Systems
- Harris Affinity
- Accurate Info Soft
- Arvato Systems
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