Healthcare Supply Chain Management Market - Forecasts from 2019 to 2024

The global healthcare supply chain management market is projected to expand at a CAGR of 7.45% to grow to US$3.116 billion in 2024 from US$2.2025 billion in 2018. Healthcare supply chain management includes all the activities related to the manufacturing, storage, and transportation of the healthcare products including medical devices, pharmaceutical products, and other services along with healthcare IT. The market is expected to show robust growth during the forecast period owing to the increasing efforts of healthcare providers to reduce cost and improve the quality of the supply chain.

The emergence of cloud-based solutions like Virtual Centralization Supply chain and RFIDs introduced in healthcare supply chain management is also expected to drive the market. Drones are also being introduced to the healthcare supply chain management market to deliver the inventory on time during an emergency. However, the growth in the market may be hampered by the high costs associated with the implementation and maintenance of healthcare supply chain management solutions during the given time frame.

The market has been segmented by component, delivery mode, end-user, and geography. On delivery mode basis, the premise is expected to hold a significant market share owing to its wide adoption. Geographically, North America is projected to be a substantial shareholder in the market during the forecasted period on the account of regulatory requirements of medicines and increasing burden of patients in hospitals in countries like the USA.

Drivers

Rising demand for the improved quality of inventory
The emergence of the new cloud-based solutions for improvement.

Restraints

High operating cost
The high maintenance cost of the technologies

Industry Update

In April 2019, SAP and Cerner provided next-generation cloud solution i.e. digital health system which allows the hospital to deliver efficient and value-based care.

In September 2018, TECSYS announced the first Interactive Assessment tool for IDN SC Transformation Readiness.

The major players profiled in the Healthcare Supply Chain management market include SAP, Oracle, Tecsys Healthcare, McKesson Corporation, Infor, Intermountain Healthcare, Global Healthcare Exchange, Cerner Corporation, Logi-Tag Systems, and Ormed MIS.

Segmentation

The healthcare supply chain management market has been analyzed through the following segments:

By Component
Software
Hardware

By Delivery Mode
On-Premise
Cloud-Based

By End User
Pharmaceutical And Biotech Companies
Logistic Companies
Distributors
Healthcare Provider

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others