The global healthcare supply chain management market is projected to grow at a CAGR of 9,45% to reach US$4.476 billion by 2026, from US$2.378 billion in 2019
Healthcare supply chain management is the management of resources necessary to provide services/goods to the end customer. It is a disjointed process that includes a variety of sectors like as medical equipment, information technology, medicines, and services to ensure that patients receive high-quality medical care. Obtaining resources, managing supply, and providing products and services to patients and providers are all part of the job. The physical and informational resources required to offer services to the end-customer are dealt with by healthcare supply chain management. Healthcare is one of the most important and fast developing sectors. Over the next few years, the healthcare supply chain management market is projected to be driven by the global adoption of the GS1 system of standardization and an improvement in total profitability. In addition, the introduction of cloud-based solutions, as well as the decrease in operational expenses via improved efficacy, are expected to drive the market in the future years. Furthermore, the introduction of big data and social media, as well as advances in machine learning and analytics, are expected to propel the market forward throughout the anticipated period. All operations related to the production, procurement, storage, and shipping of various product categories, such as surgical supplies, medical equipment, and medicines, are included in healthcare supply chain management. Because of the advantage of managing various processes on a single platform, growing use of software-based systems is projected to boost market growth. Because of the growing number of online transactions and a growing demand for environmentally friendly logistics, the software system is far more convenient than hardware solutions. According to a 2019 poll done by Sage Growth Partners, about 86 percent of respondents believed that using SCM software will enhance care quality and profit margin. In addition, the software aids hospitals and medical practices in adhering to and delivering value-based care, boosting the healthcare supply chain management industry.
Because of the development of novel supply chain management solutions and the increased penetration of software deployment in the region, particularly in the United States, North America is expected to lead the worldwide market during the projected period. SATO, for example, announced the release of the smart CT4-LX-HC small desktop printer in March 2021, which aids in the creation of auto-ID, labels, patient ID wristbands, and other items. This method will aid in reducing firmware problems and improving the healthcare supply chain. The European area is projected to develop at a higher rate as providers and manufacturers become more aware of the importance of healthcare supply chain management. As a result, the increasing use of SCM software and services in the area is expected to boost European countries' economy.
One of the major reasons for the growth of the global healthcare supply chain management market is growing demand for cloud-based solutions. Companies all over the world have discovered the value of incorporating cloud-based solutions into their supply chain plans and operations in order to improve efficiency and profitability. Hybrent SCM software, for example, has released an inexpensive cloud-based procurement and inventory management solution for LTC/SNFs, physician clinics, and ASCs. Furthermore, Sterling's technology, known as ACXSS, is a cost-effective cloud-based supply chain management solution for the healthcare industry that streamlines the purchasing process and is tailored to fit the demands of health institutions. As a result, one of the key reasons leading to the adoption of hospital supply chain management solutions is the development of advanced cloud-based solutions.
Impact of COVID–19
The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. The healthcare industry suffered a severe setback at the start of the supply chain as a result of the extraordinary incidence of the coronavirus pandemic. Due to a spike in the number of COVID-19 infections, a rapid surge in demand for medical masks, gloves, sanitizers, and medications created an imbalance in the sector, upsetting the usual supply chain. However, in order to streamline the process, providers and manufacturers were obliged to use SCM software. Companies were able to overcome supply chain difficulties by using mitigation measures during the epidemic. As a result, the coronavirus pandemic has had a minor impact on market share, and substantial growth is expected throughout the projection period. However, in the post COVID scenario the global healthcare supply chain management market is expected to bloom with the surging demand during the forecast period.
The market leaders for the pretreatment coating market are SAP, Oracle, Tecsys Healthcare, McKesson Corporation, Infor, Intermountain Healthcare, Global Healthcare Exchange, Cerner Corporation, Logi-Tag Systems and Envi (IOS).
|Market size value in 2019||US$2.378 billion|
|Market size value in 2026||US$4.476 billion|
|Growth Rate||CAGR of 9.45% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Delivery Mode, Components, End-Users, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||SAP, Oracle, Tecsys Healthcare, McKesson Corporation, Infor, Intermountain Healthcare, Global Healthcare Exchange, Cerner Corporation, Logi-Tag Systems, IOS|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the healthcare supply chain management market size by 2026?
A1. The healthcare supply chain management market is expected to reach a market size of US$4.476 billion in 2026.
Q2. What is the size of the global healthcare supply chain management market?
A2. Healthcare Supply Chain Management Market was valued at US$2.378 billion in 2019.
Q3. What are the growth prospects for the healthcare supply chain management market?
A3. The global healthcare supply chain management market is expected to grow at a CAGR of 9.45% over the forecast period.
Q4. How is the global healthcare supply chain management market segmented?
A4. The healthcare supply chain management market has been segmented by delivery mode, component, end-user, and geography.
Q5. What factors are anticipated to drive the healthcare supply chain management market growth?
A5. The main driving factors of healthcare supply chain management are increasing globalization, business expansion, rapid product life cycles, increasing fragmentation of the healthcare industry, and economies of scale.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Healthcare Supply Chain Management Market Analysis, By Delivery Mode
6. Healthcare Supply Chain Management Market Analysis, By Components
7. Healthcare Supply Chain Management Market Analysis, By End-User
7.2. Pharmaceutical & Biotech Companies
7.3. Logistics Companies
7.5. Healthcare Providers
8. Healthcare Supply Chain Management Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.5. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.3. Tecsys Healthcare
10.4. McKesson Corporation
10.6. Intermountain Healthcare
10.7. Global Healthcare Exchange
10.8. Cerner Corporation
10.9. Logi-Tag Systems
10.10. Envi (IOS)
Global Healthcare Exchange
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