The global Healthcare Supply Chain Management market size is expected to be worth around US$ 3.8 billion by 2028, according to a new report by Vision Research Reports.
The global Healthcare Supply Chain Management market size was valued at US$ 1.11 billion in 2020 and is anticipated to grow at a CAGR of 8.10% during forecast period 2021 to 2028.
Growth Factors
Growing adoption of GS1 standards and Unique Device Identification (UDI), emergence of cloud-based solutions for the healthcare industry, and increasing adoption of mobile-based supply chain management solutions are key factors contributing to market growth. Growing requirement for reduction in operating costs among healthcare organizations is another major factor positively impacting the market.
Increasing pressure encountered by healthcare providers to improve operational profitability and efficiency plays a vital role in increasing revenue growth. Growing demand to limit large-scale counterfeiting of drugs in the pharmaceutical industry is also boosting the growth of the market. Significant improvements in supply chain management solutions with respect to data security is fueled by changing health patterns of the population. According to CDC, half of the adult population in the U.S. has one or more chronic health conditions. This further helps in creating a more patient-centered supply chain that can be provided when and where patients need it.
Mobile apps have become an essential part of supply chain management solutions and logistic companies in developed as well as developing countries have begun relying on GPS-enabled mobile applications.There are several supply chain management apps available today. For instance, Curvo Labs designed a platform to upsurge supply chain efficiency by automating and modernizing supply chains in hospitals and healthcare organizations.
Report Highlights
software emerged as one of the high potential segments. Growing adoption of software such as SaaS, which offers next-generation cloud computing applications, are among key factors boosting the segment. Moreover, the rising need for efficient management of organizational workflows in healthcare organizations and a shift in the trend toward value-based care in developed economies are driving the software segment. Healthcare supply chain management software applications are continuously evolving, focusing on the enhancement of patient outcomes and real-time sharing of patient data.
The services segment is expected to expand at a steady CAGR of 8.10% over the forecast period. Advancements in software platforms have spurred demand for supply chain management services such as support and maintenance, consulting, and education and training. The development of a range of platforms for monitoring inventory management as well as procurement is a key factor fueling segment growth.
The hardware segment is anticipated to register significant growth over the coming years, wherein barcodes accounted for the largest revenue share in 2020. It is difficult for the healthcare industry to manage massive volumes of information, along with all the challenges healthcare providers and manufacturers are facing. Barcodes offer cost-effective solutions to hospitals and manufacturers. For instance, inventory control is an intricate and time-consuming process that every healthcare organization deals with. Barcodes assist in managing these inventories by providing the right information at the right time.
In 2018, cloud-based delivery mode accounted for the largest revenue share of 39.10% in the healthcare supply chain management market; the segment is also expected to exhibit the fastest growth over the forecast period. Increasing demand for cost-effective, user-friendly technologies and higher acceptance rates are among key factors contributing to the large share of the segment. Increasing penetration of cloud computing among healthcare providers for maintaining inventory and procurement information is further boosting the market.
On-premise deployment is expected to exhibit a CAGR of 8.7% over the forecast period. Organizations have been facing various challenges during deployment of on-premise supply chain management solutions about effective implementation and governance, policies and processes, staff recruitment, and training and retention. This, combined with high upfront infrastructure and set up costs are expected to challenge the growth of this segment.
Preference for cloud-based technology has increased due to various security breaches in on-premise and web-based deployment. Web-based applications are affected by network performance. This, in addition to high costs associated with hosting dedicated servers, is compelling various healthcare institutions to shift to cloud-based deployments.
healthcare manufacturers accounted for the largest revenue share and are expected to be the fastest-growing segment over the forecast period. The presence of a large number of manufacturing hubs in the pharmaceutical and medical device industry in developed and emerging economies has enabled major revenue generation. Growing adoption of SaaS among manufacturers has helped in reducing maintenance and development costs to support systems. This is also expected to drive the segment.
The distributor's segment is expected to grow at a significant rate over the forecast period. Growing demand for supply chains management solutions such as software, hardware, and tools by primary pharmaceutical distributors to efficiently coordinate between healthcare providers and manufacturers is one of the key factors driving this segment. Moreover, pharmaceutical distributors are undertaking partnerships with supply chain management solution providers to manage inventory in the best possible manner. This is expected to increase demand for healthcare supply chain management solutions by distributors.
Demand for cloud computing is driving the logistics segment. The impact of cloud computing in logistics has served many benefits, such as significant improvement in efficiency and clarity of key functionality. Cloud computing has enhanced logistic organizations by making the process more transparent. Furthermore, the growing adoption of RFID and barcode has supported various logistics activities such as tracking of orders and optimization of distribution routes.
North America accounted for the majority revenue share in the market. Mandatory implementation of GS1 standards and Unique Device Identification (UDI) on pharmaceutical drugs and medical devices, coupled with the presence of large manufacturing hubs, are among key factors boosting the North American market for the supply chain management.
Asia Pacific is anticipated to be the most lucrative market, exhibiting the highest CAGR of 9.10% during the forecast period. This is due to the availability of mobile-based healthcare supply chain management solutions and the increasing implementation of technologically advanced solutions in countries such as India, China, and Japan.
Key Players
Oracle Corporation; SAP; McKesson Corporation; Manhattan Associates; Logi-Tag Systems; Tecsys; Infor Inc.; Global Healthcare Exchange (GHX); Jabil; AmerisourceBergen
Market Segmentation
Product Outlook
Software
Hardware
Barcodes
RFID Tags
Services
Mode of Delivery Outlook
On-premise
Cloud-based
Web-based
End-use Outlook
Healthcare Manufacturers
Healthcare Providers
Distributors
Logistics
Regional Outlook
North America
The U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Russia
Asia Pacific
China
Japan
India
Australia
Singapore
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
The Healthcare Supply Chain Management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Healthcare Supply Chain Management market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Healthcare Supply Chain Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare Supply Chain Management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Healthcare Supply Chain Management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Healthcare Supply Chain Management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Healthcare Supply Chain Management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Healthcare Supply Chain Management market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Healthcare Supply Chain Management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Healthcare Supply Chain Management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Healthcare Supply Chain Management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Healthcare Supply Chain Management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Healthcare Supply Chain Management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Healthcare Supply Chain Management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Healthcare Supply Chain Management market. These factors have benefited the growth of the global market for Healthcare Supply Chain Management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Healthcare Supply Chain Management. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Healthcare Supply Chain Management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers