Latest Research Report on Healthcare Supply Chain Management Market Growth, Industry Revenue Analysi

Healthcare supply chain management is the vital practice of developing efficient supply chain methods to achieve operational efficiency and traceability while reducing operating costs without compromising quality.

The Healthcare Supply Chain Management market is projected to reach USD 2.31 billion by 2022 from an estimated USD 1.41 billion in 2016, growing at a CAGR of 8.4% during the forecast period.

Increasing pressure faced by healthcare providers to improve operational efficiency and profitability, emergence of cloud-based solutions, adoption of the GS1 system of standards in various countries, and growing focus to curb the large-scale counterfeiting of drugs in the pharmaceutical industry are driving the growth of this market. Healthcare supply chain management is the vital practice of developing efficient supply chain methods to achieve operational efficiency and traceability while reducing operating costs without compromising quality.

+ Market Dynamics

+ Drivers

+ Increasing Pressure Faced By Healthcare Providers to Improve Operational Efficiency and Profitability

+ Implementation of the Unique Device Identification (UDI) Initiative By the FDA

+ Emergence of Cloud-Based Solutions

+ Adoption of the GS1 System of Standards in Various Countries

+ Continuous Support in the Form of Funding, Investments, and Partnerships

+ Growing Focus to Curb the Large-Scale Counterfeiting of Drugs in the Pharmaceutical Industry

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The healthcare supply chain management market is segmented into software, and hardware. In 2017, the software segment is estimated to account for the largest share of the healthcare supply chain management market. The large share of the software segment is attributed the various benefits it offers such as increased efficiency, reduced costs, and business.

The market is segmented into on-premise and cloud-based delivery modes. In 2017, on-premise segment is expected to command the largest share of the global healthcare supply chain management market. The large share of this segment can be attributed to its ease of use and the low risk of data breaches.

Key players in the Healthcare Supply Chain Management Market include SAP (Germany), Oracle (US), Infor (US), McKesson (US), TECSYS (Canada), are leading players in the market. Other prominent players include GHX (US), Manhattan Associates (US), JDA Software (US), Jump Technologies (US), and LogiTag (Israel) are some of the major players operating in the healthcare supply chain management market. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

The healthcare supply chain management market North American market is expected to grow at the highest CAGR in the forecast period. The large share and high growth rate can be attributed to factors such as consolidation of hospitals, regulatory requirements, rising prevalence of chronic diseases, increasing patient burden in the US, and implementation of various strategies to improve healthcare supply chain management in Canada.

High costs associated with the implementation and maintenance of healthcare supply chain management solutions limit the adoption of these solutions in the healthcare arena, thereby restricting the market to some extent. The efficient use of healthcare supply chain management solutions demands significant investments by hospitals and pharmacies

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