Based on SNS Insider’s research, the Healthcare Supply Chain Management Market is evolving rapidly, driven by technology, data analytics, sustainability goals, and the lessons learned from global crises.
The healthcare supply chain management market is projected to achieve a value of USD 4.67 billion by 2030, having been valued at USD 2.52 billion in 2022, and is anticipated to exhibit a compound annual growth rate (CAGR) of 8.0% during the forecast period from 2023 to 2030, as indicated in the SNS Insider report.
Market Report Scope
Healthcare supply chain management is a critical component of the healthcare industry that focuses on the efficient and effective planning, procurement, distribution, and management of medical supplies, pharmaceuticals, equipment, and other resources required for the delivery of healthcare services. This multifaceted process ensures that healthcare providers have access to the right materials at the right time and in the right quantities to meet patient needs while minimizing costs and waste. It plays a pivotal role in enhancing patient care, controlling expenses, and maintaining the overall quality and safety of healthcare services.
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Market Analysis
The healthcare supply chain management market is experiencing significant growth driven by several key factors. Advancements in technology, such as blockchain, IoT (Internet of Things), and AI (Artificial Intelligence), are revolutionizing the healthcare supply chain. These technologies enable real-time tracking, data analytics, and predictive modeling, enhancing transparency, accuracy, and efficiency in the supply chain. Healthcare providers are under constant pressure to improve patient care outcomes. Supply chain management plays a crucial role in ensuring the timely availability of medical equipment, pharmaceuticals, and supplies. Enhanced supply chain processes result in better patient care and satisfaction. The growth of e-commerce and online pharmacies has added complexity to the healthcare supply chain. These platforms require efficient and streamlined supply chain solutions to meet consumer demands for fast, reliable delivery of healthcare products.
Major Players Listed in the Report are as Follows:
AmerisourceBergen Corporation, SpendVu, Providence Health & Services, STERLING HEALTHCARE LOGISTICS., Intermountain Healthcare, SAP SE, Vizient Inc., McKesson Corporation, VUEMED and Other Players.
Healthcare Supply Chain Management Market Segmentation as Follows:
By Product
- Software
- Hardware
- Barcodes
- RFID Tags
- Services
By End-User
- Healthcare Manufacturers
- Healthcare Providers
- Distributors
- Logistics
By Mode of Delivery
- On-premise
- Cloud-based
Impact of Recession
While recessions can pose significant challenges to the healthcare supply chain management market, they also present opportunities for innovation, cost reduction, and increased efficiency. Healthcare organizations that invest in advanced supply chain technologies and adapt to changing economic conditions are better positioned to navigate recessions successfully and provide essential care to patients.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had a profound impact on the healthcare supply chain management market, leading to disruptions, increased demand for transparency, a shift in sourcing strategies, and a focus on resilience, regulatory changes, and accelerated innovation. Healthcare organizations are adapting to this new reality by reevaluating their supply chain strategies to ensure the availability of critical medical supplies in times of crisis. The long-term effects of this conflict on the industry will continue to unfold as geopolitical dynamics evolve.
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Key Regional Development
North America, primarily the United States, has a well-established healthcare supply chain management system. The region’s dynamics are characterized by a focus on cost reduction, compliance with stringent regulations, and the adoption of advanced technologies such as RFID and blockchain for tracking and tracing products. In Europe, the healthcare supply chain management market is influenced by the diversity of healthcare systems across countries. The Asia-Pacific region is experiencing rapid growth in healthcare supply chain management due to the increasing demand for healthcare services, a growing aging population, and expanding healthcare infrastructure.
Key Takeaway from Healthcare Supply Chain Management Market Study
- In the market, the healthcare manufacturers segment plays a pivotal role in ensuring the smooth flow of medical products from production facilities to end-users. Healthcare manufacturers are at the heart of the supply chain, responsible for producing pharmaceuticals, medical devices, equipment, and supplies.
- The industry is undergoing a transformation, and one segment that is poised to dominate this space is software solutions. These software solutions are revolutionizing the way healthcare organizations manage their supply chains, ensuring efficiency, cost-effectiveness, and enhanced patient care.
Recent Developments Related to Healthcare Supply Chain Management Market
- Global Healthcare Exchange (GHX), a leading provider of healthcare supply chain solutions, has recently unveiled its strategic plan to acquire Prodigo Solutions, a prominent player in the healthcare supply chain management software industry.
- Advantus Health Partners and GE Healthcare have joined forces in an exciting multi-year agreement aimed at revolutionizing access to healthcare services. This strategic partnership represents a significant step forward in addressing the evolving healthcare landscape.
Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Healthcare Supply Chain Management Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Healthcare Supply Chain Management Market Segmentation, By Product
Chapter 9 Healthcare Supply Chain Management Market Segmentation, By End-User
Chapter 10 Healthcare Supply Chain Management Market Segmentation, By Mode of Delivery
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
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