Healthcare Supply Chain Management Market Growth Size [2031]
Healthcare Supply Chain Management Market Growth Size [2031]
Segments - Healthcare Supply Chain Management Market by Component (Software Applications, Hardware Types, and Services), Delivery (On Premise, Cloud), End-user (Healthcare providers, Manufacturers, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-5078
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| 210 Pages
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Report Description
The global healthcare supply chain management market size was valued at USD 3.1 Bn in 2022 and is likely to reach USD 10.4 Bn by 2031, expanding at a CAGR of 15.2% during 2023–2031. Increasing demand for an effective and cost-efficient healthcare supply chain system is likely to fuel the market.
The healthcare supply chain ensures that the requirements of healthcare professionals and healthcare organizations are met for sending essential healthcare goods such as medicines, medical devices, surgical equipment, and medical supplies & appliances.
The healthcare supply chain has a collaborative effort of multiple systems and components put together that work to manufacture and distribute healthcare essentials to deliver high-quality patient care.
The outset of the COVID-19 pandemic hampered the healthcare supply chain management market, especially in the initial stage of the same. The business gradually took off in the latter phase of the pandemic & started operating as per the COVID restrictions stated by the respective governments. Key players in the market such as Mckesson Cooperation and Henry Schein Inc. took the pandemic situation as an opportunity, adapted their business strategies according to the COVID guidelines, and registered growth in the revenue by 3.2% as compared to the pre-pandemic scenario.
Healthcare Supply Chain Management Market Dynamics
Key Trend
The official work of healthcare providers & manufacturers is traditionally done on paper, and completed manually. The incorporation of automated software solutions is thus essential in dematerializing the paperwork. This has minimized the risk of man-made errors and has helped in overcoming the challenges such as efficient planning inside the hospital premises, inventory management, and other such day-to-day tasks.
Similarly, to bifurcate, manage and protect the huge amount of data put into the CRM by the pharmaceuticals and the research & development sector needs automation to save time for the industry professionals.
Drivers
Increasing adoption of the global standards 1 system (GS1), which is responsible for maintaining the barcode & radio frequency identification (RFID) standards for supply chain messaging, is a factor driving the market. The barcodes store the complete information about the product contained, which makes it simple to deliver a transparent supply chain service that is compliant with major distributors & retailers. Similarly, the unique device identification (UDI) system implemented by the Food and Drug Administration (FDA), provides a unique barcode for marking medical packages, which in turn, is driving the market and improves the credibility of the supply chain.
Technological advancements such as mobile application-based and AI-based software solutions & analytics, and blockchain management offer user-friendly and cost-effective alternatives to improve the healthcare supply chain globally. This, in turn, drives the market.
Restraints
High installation and upgrade costs of supply chain management software is a major factor restraining the market, as organizations have to pay a separate cost to customize individual modules for particular enterprise resource planning ERP software.
Opportunities
Rising demand for cloud-based solutions in the healthcare supply chain, and rising number of key market players joining their forces to achieve a better stage to improve services are major opportunities in the market.
Scope of Healthcare Supply Chain Management Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Healthcare Supply Chain Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Component (Software Applications, Hardware Types, and Services), Delivery (On Premise, Cloud), End-user (Healthcare providers, Manufacturers, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
SAP SE; Tecsys Inc.; Jump Technologies, Inc.; Medical Information Technology, Inc., Cognizant; Jag Products LLC; Epic Systems Corporation; Allscripts Healthcare; eClin; Change Healthcare; Elinext; Manhattan Associates; Jump Technologies; Blue Yonder Group, Inc. |
Market Segment Insights
Based on components, the market is segmented into software, hardware, and services. The software system segment is projected to expand at a significant CAGR during the forecast period. Increasing online purchases and developing eco-friendly logistics chains are estimated to fuel the segment.
In terms of delivery, the market is segregated into on-premise and cloud-based delivery, sectors. The cloud-based delivery segment is expected to grow at a high pace during the forecast period, as cloud-based solutions allow healthcare organizations to gather and share information from multiple sources to take informed decisions for improved health outcomes. The cloud-based technology includes the features such as remote access & authentication, different web servers, and sharable features for service providers to send the relevant data to their clients and stakeholders.
On the basis of end-use, the healthcare supply chain management market is classified as healthcare providers, manufacturers, distributors, and others. The healthcare providers segment held a major share of the market due to the rising adoption of software solutions by healthcare organizations.
The healthcare manufacturers segment is anticipated to dominate the market during the projection period due to the high demand and rising adoption of cloud-based solutions for inventory management, which fuels the segment. For example, software as a service or SaaS is an on-demand software used by a majority of healthcare organizations that provides a one-stop solution for inventory management, sales, pharmacy, eCommerce, enterprise resource planning, marketing, and meets the other needs of an organization.
In terms of region, the global healthcare supply chain management market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America held a major share of the market in 2022 owing to the government that has issued a mandate for the usage of unique device identification (UDI) for pharmacy drugs & medical devices, and the GS1 standards. The region has one of the major manufacturing units; the same is expected to dominate the market during the projection period, due to the increasing popularity of scanning technology such as RFID, barcodes, and others.
Segments
The healthcare supply chain management market has been segmented on the basis of
Component
- Software Application
- Hardware Type
- Others
Delivery
- On-Premise
- On Cloud
End-User
- Healthcare Provider
- Manufacturers
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Players in the global healthcare supply management chain market are SAP SE; Tecsys Inc.; Jump Technologies, Inc.; Medical Information Technology, Inc., Cognizant; Jag Products LLC; Epic Systems Corporation; Allscripts Healthcare; eClin; Change Healthcare; Elinext; Manhattan Associates; Jump Technologies; and Blue Yonder Group, Inc.
These companies engage in strategies including mergers, product launches, partnerships, collaboration, acquisitions, and production expansion to increase their presence. For instance,
- In October 2022, WellSpan Health partnered with Oracle to get one-spot enterprise management with the Oracle Fusion Cloud Application Suite. The app lets them manage and store the data, manage the supply chain, and finance.
- In May 2022, Global Healthcare Exchange LLC collaborated with Resiliency Collaborative (HIRC) to create a transparent and self-sufficient healthcare supply chain.
- In September 2021 a digital pharmacy called PharmEasy, bought a large hospital-focused cloud-based supply chain platform namely Aknamed. It lets hospitals monitor expenses and manage the same using the cloud-based solution.
- In May 2021, HealthPartners partnered with Oracle to develop Cloud Application Suite, an app to streamline the workflow.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Healthcare Supply Chain Management Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Healthcare Supply Chain Management Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Healthcare Supply Chain Management Market - Supply Chain
4.5. Global Healthcare Supply Chain Management Market Forecast
4.5.1. Healthcare Supply Chain Management Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Healthcare Supply Chain Management Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Healthcare Supply Chain Management Market Absolute $ Opportunity
5. Global Healthcare Supply Chain Management Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
5.3.1. Healthcare Provider
5.3.2. Manufacturers
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Healthcare Supply Chain Management Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Healthcare Supply Chain Management Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
7. North America Healthcare Supply Chain Management Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Healthcare Supply Chain Management Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
7.4.1. Healthcare Provider
7.4.2. Manufacturers
7.4.3. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
8. Latin America Healthcare Supply Chain Management Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Healthcare Supply Chain Management Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
8.4.1. Healthcare Provider
8.4.2. Manufacturers
8.4.3. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
9. Europe Healthcare Supply Chain Management Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Healthcare Supply Chain Management Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
9.4.1. Healthcare Provider
9.4.2. Manufacturers
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
10. Asia Pacific Healthcare Supply Chain Management Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Healthcare Supply Chain Management Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
10.4.1. Healthcare Provider
10.4.2. Manufacturers
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
11. Middle East & Africa Healthcare Supply Chain Management Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Healthcare Supply Chain Management Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Healthcare Supply Chain Management Market Size and Volume Forecast by End Users
11.4.1. Healthcare Provider
11.4.2. Manufacturers
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Healthcare Supply Chain Management Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Healthcare Supply Chain Management Market: Market Share Analysis
12.2. Healthcare Supply Chain Management Distributors and Customers
12.3. Healthcare Supply Chain Management Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. SAP SE
12.4.2. Tecsys Inc.
12.4.3. Jump Technologies, Inc.
12.4.4. Medical Information Technology, Inc.
12.4.5. Cognizant
12.4.6. Jag Products LLC
12.4.7. Epic Systems Corporation
12.4.8. Allscripts Healthcare
12.4.9. eClin
12.4.10. Change Healthcare
12.4.11. Elinext
12.4.12. Manhattan Associates
12.4.13. Jump Technologies
12.4.14. Blue Yonder Group Inc.
Methodology
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