Healthcare Supply Chain Management Market Worth USD 6.42 Billion by 2030 at 15.4% CAGR – Report by Market Research Future (MRFR)
Healthcare Supply Chain Management Market Trends and Insights By Models (Build-To-Order), Functions (Forecasting and Planning), Delivery Mode (On-Premise, Web-based), Software (Planning Tools), Technology (Barcode), End User (Distributors), Competitive Market Growth, Size, Share and Forecast to 2030
New York, USA, June 13, 2022 (GLOBE NEWSWIRE) — Healthcare Supply Chain Management Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Healthcare Supply Chain Management Market Information by Models, Functions, Delivery Mode, Software, Technology, End Users – Forecast Till 2030”, the market is accounted for 6.42 Billion by 2030 and expected to register a 15.4% CAGR during the forecast period (2022–2030).
Market Scope:
Supply-chain management is the process of planning, designing, executing, controlling, and monitoring the flow of diverse commodities and services to establish a competitive logistics infrastructure, enhance net value, and synchronize the demand and supply of goods to measure performance. Healthcare Supply Chain Management encompasses all processes associated with the production, storage, and transport of healthcare products.
The healthcare industry, one of the fastest-growing businesses, has the challenge of rising service costs. The increased provision of quality in the healthcare supply chain has led to an increase in supply chain management expenses. To maintain higher quality, producers have become reliant on high prices. Presently, hospitals are anticipating competitive advantage and cost reduction sources. In these efforts, it is imperative to concentrate on supply chain management that would improve patient care and provide excellent services at reasonable prices.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 6.42 Billion |
| CAGR | 15.4% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Models, Functions, Delivery Mode, Software, Technology, End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing globalization and Expanding business |
| Fast product life cycle Increasing fragmentation in the healthcare industry |
Healthcare Supply Chain Management Market Competitive Dynamics:
The major key players of the healthcare supply chain management market are
- SAP (Germany)
- Infor (US)
- Oracle (US)
- GHX (US)
- TECSYS (Canada)
- McKesson (US)
- Manhattan Associates (US)
- Jump Technologies (US)
- JDA Software (US)
- LogiTag Systems (Israel)
- Advocate Health Care (Murray UT)
Market Dynamics:
Market Drivers:
The major driving factors of supply chain management in healthcare are increasing globalization, expanding business, fast product life cycle, increasing fragmentation in the healthcare industry, the high economy of scale and other. The other factors responsible to support the market are increasing customer demand, rising customization, growing capabilities of technology and others.
Increasing the need to improve operational efficiency and profitability and reduce operating costs, mainly by healthcare providers and manufacturers is boosting the growth of the target market. The emergence of cloud-based and mobile-based solutions across the healthcare industry is also supporting market growth. Moreover, advancements in analytics, machine learning, and the advent of social media and Big Data are further expected to significantly drive the market.
Market Restraints:
However, factors like lack of awareness, low innovation, the high cost of maintenance and installation, issues of integration may restrain the growth of the market.
COVID-19 Analysis:
The global impact of COVID-19 has been unprecedented and staggering, with healthcare SCM witnessing a positive impact on demand across all regions amid the pandemic. A sudden rise in the demand for medical masks, gloves, sanitizers, and medicines due to an increase in the number of COVID-19 infections led to an imbalance in the industry, thereby disrupting the standard supply chain. However, this forced providers and manufacturers to adopt the SCM software to streamline the process. Implementing mitigating measures amid the pandemic helped the companies to overcome their supply chain issues. Therefore, the coronavirus pandemic has had a moderate effect on the market share and is anticipated to result in strong growth during the forecast period.
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Healthcare Supply Chain Management Market Segmentation:
By Models
The build-to-order segment is expected to record the highest growth over the review period.
By Functions
Forecasting and Planning is likely to expand at a notable CAGR over the assessment period.
By Delivery mode
The cloud-based segment dominated the market in 2020 and is expected to emerge as the fastest-growing segment during the forecast duration. Factors such as the surging adoption of cloud computing solutions by healthcare professionals, technological advancements, cost-effectiveness, and ease of use are likely to boost the segmental growth.
Besides, the on-premises deployment segment is projected to unveil steady growth during the forecast timeframe owing to an increase in the adoption of SCM solutions in emerging nations.
By Software
The software segment dominated the market in 2020 due to the increasing adoption of SaaS, which provides next-generation cloud computing applications. Furthermore, a shift in the trend towards value-based care in developed countries, coupled with the upsurge in the need for efficient management of structural workflows in healthcare companies, are a few factors propelling the segment’s growth.
By Technology
Barcode segment is likely to witness substantial growth over the review period.
By End use
The distributors segment emerged as the dominant segment in the market in 2020. The factor responsible for its dominance is a rise in the incorporation of SCM solutions by various providers, such as hospitals and clinics. Additionally, the implementation of training sessions by software companies is also boosting the adoption of these solutions by providers.
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Healthcare Supply Chain Management Market Regional Analysis:
Geographically, the Americas is anticipated to dominate the healthcare supply chain management market owing to the developed healthcare sector, the presence of a large number of top biotech and pharmaceutical companies there, along with government initiatives, and rising technological advancement, increase in demand of medical devices. The exporting of medical devices and generating a large amount of revenue support the supply chain management in the healthcare sector.
Europe is expected to hold the second largest position in the healthcare supply chain management market. The increase in import and export for healthcare related products will enhance Healthcare supply chain management market in this region.
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Asia-Pacific is expected to be the fastest growing region in the market due to the rising prevalence of chronic disease and an increase in the demand for pharmaceutical products & medical devices. Also, increased expenditure in the healthcare sector is expected to enhance the growth in this market. On the other hand, the Middle East & Africa accounts the lowest share of the market. Healthcare supply chain management market of this region is expected to be held by the Middle Eastern region due to a developed healthcare sector and growing government initiatives for the healthcare sector.
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