Global Healthcare Supply Chain Market

Healthcare Supply Chain Market: Overview

According to Custom Market Insights (CMI), The Global Healthcare Supply Chain Market  Size was estimated at around USD 2.54 billion in 2021, growing at a CAGR of nearly 16.5% from 2022 to 2030. The market is projected to reach approximately USD 6.89 billion by 2030.

Healthcare Supply Chain Market offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.

To build a competitive logistics infrastructure, increase net value, and synchronize supply and demand for goods to measure performance, supply chain management is the process of planning, designing, carrying out, controlling, and monitoring the flow of various commodities and services. All operations connected to the manufacturing, distribution, and transportation of healthcare items are included in healthcare supply chain management.

One of the industries with the fastest growth rates, healthcare, is affected by rising service pricing. Costs associated with supply chain management are rising due to the greater provision of quality in the healthcare supply chain. High expenditures have been necessary for manufacturers to maintain greater quality. Currently, hospitals are seeking ways to increase their competitiveness and save expenses. Focusing on supply chain management has become crucial in these efforts since it will improve patient care and offer excellent services at reasonable prices.

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Healthcare Supply Chain Market: Growth Drivers

Among the initiatives taken by businesses are automating manual production processes, reducing the waste produced during product development, and developing trade relationships between suppliers, partners, and clients. Consequently, the manufacturers initiatives are helping to improve the quality of the supply chain and cut costs.

The goal of suppliers is to balance price and quality consistently. For instance, certain vendors let regional care networks automate. Systems for supply chain automation provide advantages to hospitals (care networks) in terms of data visibility, effectiveness, and cost savings. As a result, the healthcare supply chain management market is also growing due to the rising need for high quality inventory management systems. Additionally, introducing cloud based and mobile based solutions within the healthcare sector fosters market expansion.

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Healthcare Supply Chain Market: Regional Analysis

The North American healthcare supply chain management industry held the biggest market share or over 40% of the total market. The U.S., with more than 780 thousand enterprises, is the worlds largest employer in the healthcare industry, which is one of the reasons why the area dominates the market.

Additionally, the U.S. spends about twice as much on healthcare as other nations, which in 2020 accounted for 19.7% of its GDP. The Asia Pacific market is anticipated to see the greatest CAGR throughout the projected period. This is attributed to the rise of nations like India, China, South Korea, and Singapore as the top choices for big pharmaceutical corporations looking for places for drug manufacture, pathological testing, and clinical trials. As a result, pharmaceutical firms either outsource to or invest in CDMO firms.

Healthcare Supply Chain Market: Recent developments

• April 2022: The first multi enterprise Supply Chain Work Management solution has been launched on the Opus Digital Network Platform, according to a statement from TraceLink Inc., a major provider of digital network platforms. By better managing supply chain issues and planning exceptions like material shortages, short shipments, and forecast changes, companies can improve the performance of their integrated supply planning and execution processes. This is made possible by the TraceLink Supply Chain Work Management solution.
• February 2022: To enhance automation, data analytics, and inventory management capabilities for the healthcare sector, Global Healthcare Exchange bought Syft, a supplier of AI-enhanced inventory control and end to end supply chain management software and services.

Key Players:

• SAP SE
• Oracle Corporation
• McKesson Corporation
• Tecsys Inc.
• Global Healthcare Exchange
• Infor Inc.
• Cardinal Health
• Determine
• Epicor
• Manhattan Associates

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The global Healthcare Supply Chain market is segmented as follows:

By Product

• Software
• Hardware
• Services

By Delivery mode

• On premises
• Cloud based
• Web based

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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