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Global Healthcare Supply Chain Management Market - Focused Insights 2024-2029

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    Report

  • 148 Pages
  • July 2024
  • Region: Global
  • Arizton
  • ID: 5985345
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The Global Healthcare Supply Chain Management Market was valued at USD 3.42 billion in 2023, and is expected to reach USD 5.74 billion by 2029, rising at a CAGR of 9.01%.

MARKET TRENDS & DRIVERS

Personalized and Patient-centric Healthcare

Personalized and patient-centric healthcare is revolutionizing how healthcare is delivered, focusing on tailoring medical treatment and services to meet each patient's unique needs and preferences. This holistic approach extends beyond clinical care to encompass various aspects of healthcare delivery, including supply chain management. In this context, personalized and patient-centric supply chain management involves optimizing the healthcare supply chain to ensure that the right products are available to patients when and where they need them. This requires shifting from traditional supply chain models to a more agile and responsive approach that considers individual patient characteristics, clinical needs, and care pathways. Key principles guiding personalized and patient-centric supply chain management include demand forecasting and inventory optimization, utilizing data analytics and predictive modeling to anticipate patient demand and adjust inventory levels accordingly. Additionally, customized delivery models are essential, offering flexible options such as home delivery services, mobile healthcare solutions, and personalized medication packaging to enhance convenience and accessibility for patients. Supply chain visibility and transparency are also critical, enabling healthcare providers to track the movement of medical products from manufacturer to patient in real-time, thus proactively addressing supply chain disruptions and ensuring timely delivery of care. By embracing these principles, healthcare organizations can transform the healthcare supply chain into a patient-focused ecosystem that delivers tailored solutions to meet the diverse needs of individual patients, ultimately driving improved outcomes, satisfaction, and value across the healthcare continuum.

Adoption of AI and RFID Tracking

In recent years, the healthcare industry has witnessed a transformative shift towards leveraging cutting-edge technologies to optimize supply chain processes. Among these technologies, Artificial Intelligence (AI) and Radio Frequency Identification (RFID) tracking have emerged as powerful tools revolutionizing the way healthcare supply chains operate. Adopting AI and RFID tracking solutions offers healthcare organizations unprecedented opportunities to enhance efficiency, accuracy, and traceability throughout the supply chain. AI-powered algorithms are increasingly being integrated into supply chain management systems to analyze vast amounts of data and derive actionable insights. By leveraging AI, healthcare providers can improve demand forecasting accuracy, optimize inventory levels, and identify cost-saving opportunities. Additionally, AI algorithms can streamline procurement processes by automating supplier selection, contract management, and order processing. This reduces administrative burden and ensures timely access to critical medical supplies and equipment. Furthermore, RFID tracking technology has gained traction in healthcare supply chains for its real-time visibility and traceability of assets and inventory. RFID tags embedded in medical products, equipment, and packaging enable automatic identification and tracking as they move through the supply chain. This enables healthcare organizations to accurately monitor the location, status, and condition of assets, reducing the risk of stockouts, expiration of medications, and supply chain errors.

Increasing Digital Transformation and Automation in Healthcare

The healthcare industry is undergoing a significant transformation, with digitalization and automation emerging as key drivers of change. This paradigm shift extends to supply chain management, where the adoption of digital technologies and automation is revolutionizing how healthcare organizations manage inventory, procure supplies, and deliver care. As healthcare providers seek to improve efficiency, reduce costs, and enhance patient outcomes, increasing digital transformation and automation in supply chain management have become imperative. Digital transformation in healthcare supply chain management involves leveraging technology to digitize and streamline processes, from procurement to distribution. Cloud-based supply chain management systems offer a centralized platform for managing inventory, orders, and logistics, enabling real-time visibility, collaboration, and decision-making across the supply chain. Advanced analytics and predictive modeling tools provide insights into demand forecasting, inventory optimization, and supplier performance, empowering healthcare organizations to make data-driven decisions and optimize resource allocation. Furthermore, automation is pivotal in enhancing efficiency and reducing manual intervention in supply chain processes. Robotic process automation (RPA) automates repetitive tasks such as data entry, order processing, and invoice reconciliation, freeing up valuable time and resources for healthcare professionals to focus on more strategic activities. Additionally, automation technologies such as robotic dispensing systems and automated guided vehicles (AGVs) optimize inventory management and warehouse operations, minimizing errors and maximizing throughput.

INDUSTRY RESTRAINTS

Inventory Management and Distribution Logistics Challenges

Inventory management and distribution logistics are critical components that significantly impact the efficiency and effectiveness of delivering care. Fluctuating demand poses a significant challenge for healthcare organizations as predicting and managing inventory levels becomes increasingly complex. Demand for medical products and equipment can vary based on seasonal trends, population demographics, and public health emergencies. Healthcare providers must implement robust demand forecasting techniques and inventory optimization strategies to maintain adequate stock levels to meet patient needs while minimizing excess inventory and stockouts. Inventory management and distribution logistics present significant challenges for healthcare supply chain management. Healthcare organizations must implement robust strategies, leverage technology, and foster collaboration with stakeholders to address these challenges effectively. By optimizing inventory management processes, improving visibility and transparency, and enhancing distribution logistics, healthcare providers can ensure timely access to medical products and equipment, minimize costs, and ultimately enhance patient care delivery.

SEGMENT ANALYSIS

INSIGHT BY COMPONENT

The global healthcare supply chain management market by component is segmented into software & services (planning & procurement, inventory & warehousing) and hardware (barcode & barcode scanners, RFID tags & readers). The software & services dominate with the largest market share in 2023. The segment is poised for continued expansion as healthcare organizations prioritize digital transformation initiatives to improve efficiency, reduce costs, and enhance patient care. The market for planning and procurement software solutions in healthcare is dynamic and evolving, driven by the need for greater efficiency, compliance with regulations, and responsiveness to emerging challenges such as the COVID-19 pandemic. Continued technological innovation and investment in healthcare supply chain management will fuel further growth in the coming years.
  • By Component
    • Software & Services
    • Planning & Procurement
    • Inventory & Warehousing
    • Hardware
    • Barcode & Barcode Scanners
    • RFID Tags & Readers

INSIGHT BY DEPLOYMENT

The global healthcare supply chain management market by deployment is categorized into on-premises and cloud-based. The cloud-based segment showcases significant growth, with the fastest-growing CAGR during the forecast period. The segment's growth is due to the growing demand for cloud-based solutions across various industries, including healthcare. Cloud-based software offers several advantages, such as scalability, flexibility, and accessibility from anywhere with an internet connection. It often operates on a subscription-based model, eliminating the need for large upfront hardware and software infrastructure investments. This makes them particularly attractive to healthcare facilities with limited IT budgets.
  • By Deployment
    • On-Premises
    • Cloud-Based

INSIGHT BY END-USER

The healthcare manufacturers segment holds the largest global healthcare supply chain management market share in 2023. The market for healthcare supply chain management software solutions used by healthcare manufacturers is dynamic and evolving, focusing on meeting the complex needs of manufacturers operating in the healthcare industry while ensuring compliance, efficiency, and quality throughout the supply chain. The demand for manufacturers' healthcare supply chain management software solutions is expected to grow as companies seek to improve operational efficiency, ensure product quality and safety, and adapt to changing regulatory requirements. Factors such as increasing globalization, technological advancements (e.g., IoT, AI), and the need for supply chain resilience further drive market growth.
  • By End-user
    • Healthcare Manufacturers
    • Healthcare Providers
    • Distributors and Retailers
    • Logistic Companies

GEOGRAPHICAL ANALYSIS

North America accounted for over 40% of the market share and stands first in the global healthcare supply chain management market. The North American market is one of the largest globally. It encompasses a wide range of software offerings designed to address the needs of hospitals, clinics, pharmacies, laboratories, medical device manufacturers, and other healthcare entities. The market has been experiencing steady growth due to digitizing healthcare operations, adopting cloud-based solutions, and emphasizing cost containment and operational efficiency.
  • By Geography
    • North America
      • The U.S.
      • Canada
    • Europe
      • Germany
      • The U.K.
      • France
      • Italy
      • Spain
    • APAC
      • Japan
      • China
      • India
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East & Africa
      • Turkey
      • South Africa
      • Saudi Arabia

COMPETITIVE LANDSCAPE

The global healthcare supply chain management market report includes exclusive data on 38 vendors. The healthcare supply chain industry is experiencing consolidation as larger players seek to gain market share, expand their geographic footprint, and enhance their service offerings through mergers and acquisitions. This consolidation trend is reshaping the competitive landscape, with larger, more diversified companies competing against smaller, niche players. Technological innovation drives competition in healthcare supply chain management, with companies investing in advanced analytics, artificial intelligence, blockchain, and Internet of Things (IoT) solutions to optimize processes, improve visibility, and enhance efficiency. Companies that can leverage technology to offer innovative solutions that address the evolving needs of healthcare providers and patients gain a competitive edge in the market. Building strong customer relationships and delivering high-quality service are essential for healthcare supply chain management success.

Key Vendors

  • Oracle
  • Cardinal Health
  • TECSYS
  • SAP
  • Arvato
  • McKesson

Other Prominent Vendors

  • Blue Yonder Group
  • BlueBin
  • Curvo Labs
  • Epicor
  • Global Healthcare Exchange
  • Harris Affinity
  • Hybrent
  • Infor
  • Jump Technologies
  • LogiTag
  • Manhattan Associates
  • Medsphere Systems
  • PAR Excellence Systems
  • Premier
  • Vizient
  • Anaplan
  • Inventory Optimization Solutions (IOS
  • Provista
  • Sortly
  • Symplr
  • Workday
  • Marg ERP Ltd.
  • Swisslog Healthcare
  • Tradogram
  • Weproc
  • ZOHO

KEY QUESTIONS ANSWERED

1. How big is the global healthcare supply chain management market?
2. What is the growth rate of the global healthcare supply chain management market?
3. What are the key drivers of the global healthcare supply chain management market?
4. Who are the major global healthcare supply chain management players?

Table of Contents

Chapter - 1: Healthcare Supply Chain Management Market Overview
  • Executive Summary
  • Key Findings
Chapter - 2: Healthcare Supply Chain Management Market
  • Global: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
Chapter 3: Healthcare Supply Chain Management Market Segmentation Data
Global: Projected Revenue by Component (2020-2029; $Millions)
  • Software & Services
  • Planning & Procurement
  • Inventory & Warehousing
  • Hardware
  • Barcode & Barcode Scanners
  • RFID Tags & Readers
Global: Projected Revenue by Deployment (2020-2029; $Millions)
  • On-Premises
  • Cloud-based
Global: Projected Revenue by End-user (2020-2029; $Millions)
  • Healthcare Manufacturers
  • Healthcare Providers
  • Distributors & Retailers
  • Logistic Companies
Chapter - 4: Key Regions Overview
North America: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
  • Projected Revenue of Healthcare Supply Chain Management Market in US
  • Projected Revenue of Healthcare Supply Chain Management Market in Canada
Europe: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
  • Projected Revenue of Healthcare Supply Chain Management Market in Germany
  • Projected Revenue of Healthcare Supply Chain Management Market in France
  • Projected Revenue of Healthcare Supply Chain Management Market in UK
  • Projected Revenue of Healthcare Supply Chain Management Market in Italy
  • Projected Revenue of Healthcare Supply Chain Management Market in Spain
Apac: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
  • Projected Revenue of Healthcare Supply Chain Management Market in Japan
  • Projected Revenue of Healthcare Supply Chain Management Market in China
  • Projected Revenue of Healthcare Supply Chain Management Market in India
  • Projected Revenue of Healthcare Supply Chain Management Market in South Korea
  • Projected Revenue of Healthcare Supply Chain Management Market in Australia
Latin America: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
  • Projected Revenue of Healthcare Supply Chain Management Market in Brazil
  • Projected Revenue of Healthcare Supply Chain Management Market in Mexico
  • Projected Revenue of Healthcare Supply Chain Management Market in Argentina
Middle East & Africa: Projected Revenue of Healthcare Supply Chain Management Market (2020-2029; $Millions)
  • Projected Revenue of the Healthcare Supply Chain Management Market in Turkey
  • Projected Revenue of Healthcare Supply Chain Management Market in South Africa
  • Projected Revenue of Healthcare Supply Chain Management Market in Saudi Arabia
Chapter 5: Healthcare Supply Chain Management Market Prospects & Opportunities
  • Healthcare Supply Chain Management Market Opportunities & Trends
  • Healthcare Supply Chain Management Market Drivers
  • Healthcare Supply Chain Management Market Constraints
Chapter - 6: Healthcare Supply Chain Management Industry Overview
  • Healthcare Supply Chain Management Market - Competitive Landscape
  • Healthcare Supply Chain Management Market - Key Vendor Profiles
  • Healthcare Supply Chain Management Market - Other Prominent Vendors
  • Healthcare Supply Chain Management Market - Key Strategic Recommendations
Chapter - 7: Appendix
  • Research Methodology
  • Abbreviations
  • About the Analyst
List of Exhibits
Exhibit 1: Projected Revenues of Healthcare Supply Chain Management in Global (2020-2029; $ Mn)
Exhibit 2: Market Size & Forecast - Software & Services (2020-2029; $ Mn)
Exhibit 3: Market Size & Forecast - Planning & Procurement (2020-2029; $ Mn)
Exhibit 4: Market Size & Forecast - Inventory & Warehousing (2020-2029; $ Mn)
Exhibit 5: Market Size & Forecast - Hardware (2020-2029; $ Mn)
Exhibit 6: Market Size & Forecast - Barcode and Barcode Scanners (2020-2029; $ Mn)
Exhibit 7: Market Size & Forecast - RFID Tags and Readers (2020-2029; $ Mn)
Exhibit 8: Market Size & Forecast - On-Premises (2020-2029; $ Mn)
Exhibit 9: Market Size & Forecast - Cloud-based (2020-2029; $ Mn)
Exhibit 10: Market Size & Forecast - Healthcare Manufacturers (2020-2029; $ Mn)
Exhibit 11: Market Size & Forecast - Healthcare Providers (2020-2029; $ Mn)
Exhibit 12: Market Size & Forecast - Distributors & Retailers (2020-2029; $ Mn)
Exhibit 13: Market Size & Forecast - Logistic Companies (2020-2029; $ Mn)
Exhibit 14: Projected Revenues of Healthcare Scm in N. America (2020-2029; $ Mn)
Exhibit 15: Projected Revenues of Healthcare Scm in the US (2020-2029; $ Mn)
Exhibit 16: Projected Revenues of Healthcare Scm in Canada (2020-2029; $ Mn)
Exhibit 17: Projected Revenues of Healthcare Scm in Europe (2020-2029; $ Mn)
Exhibit 18: Projected Revenues of Healthcare Scm in Germany (2020-2029; $ Mn)
Exhibit 19: Projected Revenues of Healthcare Scm in UK (2020-2029; $ Mn)
Exhibit 20: Projected Revenues of Healthcare Scm in France (2020-2029; $ Mn)
Exhibit 21: Projected Revenues of Healthcare Scm in Italy (2020-2029; $ Mn)
Exhibit 22: Projected Revenues of Healthcare Scm in Spain (2020-2029; $ Mn)
Exhibit 23: Projected Revenues of Healthcare Scm in APAC (2020-2029; $ Mn)
Exhibit 24: Projected Revenues of Healthcare Scm in Japan (2020-2029; $ Mn)
Exhibit 25: Projected Revenues of Healthcare Scm in China (2020-2029; $ Mn)
Exhibit 26: Projected Revenues of Healthcare Scm in India (2020-2029; $ Mn)
Exhibit 27: Projected Revenues of Healthcare Scm in Australia (2020-2029; $ Mn)
Exhibit 28: Projected Revenues of Healthcare Scm in South Korea (2020-2029; $ Mn)
Exhibit 29: Projected Revenues of Healthcare Scm in L. America (2020-2029; $ Mn)
Exhibit 30: Projected Revenues of Healthcare Scm in Brazil (2020-2029; $ Mn)
Exhibit 31: Projected Revenues of Healthcare Scm in Mexico (2020-2029; $ Mn)
Exhibit 32: Projected Revenues of Healthcare Scm in Argentina (2020-2029; $ Mn)
Exhibit 33: Projected Revenues of Healthcare Scm in MEA (2020-2029; $ Mn)
Exhibit 34: Projected Revenues of Healthcare Scm in Turkey (2020-2029; $ Mn)
Exhibit 35: Projected Revenues of Healthcare Scm in S. Africa (2020-2029; $ Mn)
Exhibit 36: Projected Revenues of Healthcare Scm in S. Arabia (2020-2029; $ Mn)
List of Tables
Table 1: Key Market Trends in Healthcare Supply Chain Management Market
Table 2: Key Market Enablers in Healthcare Supply Chain Management Market
Table 3: Key Market Constraints in Healthcare Supply Chain Management Market
Table 4: Strategic Recommendations in Healthcare Supply Chain Management Market

Companies Mentioned

  • Oracle
  • Cardinal Health
  • TECSYS
  • SAP
  • Arvato
  • McKesson
  • Blue Yonder Group
  • BlueBin
  • Curvo Labs
  • Epicor
  • Global Healthcare Exchange
  • Harris Affinity
  • Hybrent
  • Infor
  • Jump Technologies
  • LogiTag
  • Manhattan Associates
  • Medsphere Systems
  • PAR Excellence Systems
  • Premier
  • Vizient
  • Anaplan
  • Inventory Optimization Solutions (IOS
  • Provista
  • Sortly
  • Symplr
  • Workday
  • Marg ERP Ltd.
  • Swisslog Healthcare
  • Tradogram
  • Weproc
  • ZOHO

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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