Global Healthcare Supply Chain Management Market, By Product Type (Healthcare Supply Chain Management Analysers, POC Test Kits, Healthcare Supply Chain Management Analyser Kits, and Reagents), Application (Basic Metabolite Panel, Liver Function Test, Electrolyte Panel, Kidney Function Test, Lipid Profile, Specialty Chemical Test, Thyroid Profile, and Other Biochemical Tests), Component (Software, Inventory, Order, Warehouse, Purchase, Implant, Transport, Strategic Sourcing, Consignment, Hardware, Barcode Scanner, and RFID), Delivery (On-Premise and Cloud) Models (Make-To-Stock Model, Build-To-Order, Continuous Replenishment Model, Chain Assembly, Others), Function (Forecasting and Planning, Inventory Management and Procurement, Internal Logistics and Operations, Warehousing and Distribution, Reverse and Extended Logistics, Others), End Use (Hospitals, Pathology Laboratories, Maternity Centres, Outpatient Centres, and Clinics) – Industry Trends and Forecast to 2031.
Healthcare Supply Chain Management Market Analysis and Size
The global healthcare supply chain management market is experiencing rapid growth, driven by the need for precise tracking and authentication of pharmaceutical products. Healthcare SCM streamlines purchasing, tracking, and replenishing processes, ensuring regulatory compliance and bolstering patient safety. This innovative solution enhances efficiency, reduces errors, and maintains market integrity. As demand for reliable healthcare supply chain management solutions rises, the market is poised for further expansion and technological advancements
Data Bridge Market Research analyses that the global healthcare supply chain management market which was USD 2.71 billion in 2023 is expected to reach USD 5.23 billion by 2031 and is expected to undergo a CAGR of 8.55% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Healthcare Supply Chain Management Analysers, POC Test Kits, Healthcare Supply Chain Management Analyser Kits, and Reagents), Application (Basic Metabolite Panel, Liver Function Test, Electrolyte Panel, Kidney Function Test, Lipid Profile, Specialty Chemical Test, Thyroid Profile, and Other Biochemical Tests), Component (Software, Inventory, Order, Warehouse, Purchase, Implant, Transport, Strategic Sourcing, Consignment, Hardware, Barcode Scanner, and RFID), Delivery (On-Premise and Cloud) Models (Make-To-Stock Model, Build-To-Order, Continuous Replenishment Model, Chain Assembly, Others), Function (Forecasting and Planning, Inventory Management and Procurement, Internal Logistics and Operations, Warehousing and Distribution, Reverse and Extended Logistics, Others), End Use (Hospitals, Pathology Laboratories, Maternity Centres, Outpatient Centres, and Clinics)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
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Market Players Covered
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MEDICAL Information Technology Inc. (U.S.), SAP (Germany), CPSI (U.S.), Meta (U.S.), Elinext (U.S.), EPIC Systems Corporation (U.S.), Oracle (U.S.), Jag products LLC (U.S.), Allscripts Healthcare LLC (U.S.), Optum Inc. (U.S.), Change Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), athenahealth (U.S.), and eClinicalWorks (U.S.) among others
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Market Opportunities
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Market Definition
Healthcare supply chain management (SCM) involves the coordination and oversight of processes related to the procurement, storage, transportation, and distribution of medical goods and services. It encompasses activities such as inventory management, order fulfillment, and logistics planning to ensure efficient and effective delivery of healthcare products to patients and providers.
Healthcare Supply Chain Management Market Dynamics
Drivers
- Increasing Demand for Healthcare Services
As populations grow and age, there is a heightened need for medical treatments, procedures, and products, leading to greater demand for efficient SCM solutions. Healthcare facilities require streamlined processes to procure, manage, and distribute medical supplies and equipment promptly and accurately, thus fuelling the adoption of advanced SCM technologies to meet the escalating demands of healthcare delivery systems globally. Thus, the increasing demand for healthcare services is a significant driver of market growth in healthcare supply chain management (SCM).
- Technological Advancements in Healthcare SCM Solutions
Innovations such as artificial intelligence, blockchain, and Internet of Things (IoT) facilitate real-time tracking, inventory management, and predictive analytics. These advancements improve efficiency, reduce costs, and enhance visibility throughout the supply chain. In addition, the integration of cloud-based platforms and interoperable systems streamlines operations, enabling healthcare organizations to optimize resource allocation and respond more effectively to evolving patient needs, thus driving market expansion. Hence, technological advancements in healthcare supply chain management (SCM) solutions play a pivotal role in market growth.
Opportunities
- Globalization of Pharmaceutical and Medical Device Industries
As these pharmaceutical and medical industries expand across borders, there is an increased need for efficient and reliable SCM solutions to manage complex supply chains. Globalization necessitates seamless coordination of procurement, production, and distribution activities across diverse regions, driving demand for advanced SCM technologies that enable cross-border collaboration, regulatory compliance, and timely delivery of medical products, thereby fueling market expansion
- Growing Emphasis on Patient Safety and Regulatory Compliance
With heightened awareness of risks such as counterfeit drugs and medical errors, healthcare providers are prioritizing SCM solutions that ensure the integrity and safety of medical products. In addition, stringent regulatory standards mandate comprehensive traceability and documentation throughout the supply chain. This emphasis on compliance drives the adoption of advanced SCM technologies, including track-and-trace systems and digital record-keeping, fueling market expansion as organizations seek to mitigate risks and safeguard patient well-being.
Restraints/Challenges
- Limited Awareness Hinders Adoption of SCM Innovations
Many healthcare organizations are unaware of the latest advancements and their potential benefits in streamlining operations and improving patient care. Without proper education and understanding of SCM technologies, decision-makers may hesitate to invest in new solutions, preferring to stick with familiar methods. This lack of awareness leads to missed opportunities for efficiency gains and cost savings. In addition, it hinders the overall progress of the healthcare supply chain management market, slowing down the rate of innovation and impeding the industry's ability to address emerging challenges effectively. Thus, restraining the market growth.
- Infrastructure Limitations in Effective Supply Chain Management
In regions with inadequate transportation networks, storage facilities, and communication systems, healthcare organizations struggle to efficiently move and track medical supplies. This results in delays, stockouts, and inaccuracies in inventory management. Moreover, outdated or insufficient technology infrastructure inhibits the implementation of advanced SCM solutions such as real-time tracking and data analytics. As a result, healthcare providers face difficulty in optimizing their supply chains, leading to increased costs, reduced operational efficiency, and compromised patient care. These infrastructure limitations hamper the overall growth and development of the healthcare SCM market.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In 2022, Cardinal Health launched Velocare, a supply chain solution ensuring rapid delivery of critical healthcare products and services within one or two hours. Teaming up with Medically Home, it empowers patients to receive high-quality care at home, enhancing accessibility and efficiency in healthcare delivery
- In 2022, Avery Dennison Smartarc introduced AD Minidose U9 RAIN RFID inlay tailored for the pharmaceutical industry. This innovative solution enables precise tracking and authentication of pharmaceutical products throughout the supply chain, enhancing efficiency, reducing errors, and ensuring regulatory compliance, thereby bolstering patient safety and market integrity
- In 2020, SAP SE collaborated with Microsoft Corporation to enhance consumer adoption of the SAP Cloud Platform and SAP S/4 HANA on Microsoft Azure. This partnership combines SAP's leading enterprise solutions with Microsoft's robust cloud infrastructure, offering customers enhanced flexibility, scalability, and integration capabilities. It simplifies cloud migration and accelerates digital transformation initiatives for businesses worldwide
Healthcare Supply Chain Management Market Scope
The market is segmented into six notable segments based on product type, application, component, delivery, models, function, and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Healthcare Supply Chain Management Analysers
- POC Test Kits
- Healthcare Supply Chain Management Analyser Kits
- Reagents
Application
- Basic Metabolite Panel
- Liver Function Test
- Electrolyte Panel
- Kidney Function Test
- Lipid Profile
- Specialty Chemical Test
- Thyroid Profile
- Other Biochemical Tests
Component
- Software
- Inventory
- Order
- Warehouse
- Purchase
- Implant
- Transport
- Strategic Sourcing
- Consignment
- Hardware
- Barcode Scanner
- RFID
Delivery
- On-Premise
- Cloud
Models
- Make-To-Stock Model
- Build-To-Order
- Continuous Replenishment Model
- Chain Assembly
- Others
Function
- Forecasting and Planning
- Inventory Management and Procurement
- Internal Logistics and Operations
- Warehousing and Distribution
- Reverse and Extended Logistics
- Others
End Use
- Hospitals
- Pathology Laboratories
- Maternity Centres
- Outpatient Centres
- Clinics
Healthcare Supply Chain Management Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, product type, application, component, delivery, model, function and end use as referenced above.
The countries covered in the market report U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America dominates the global healthcare supply chain management market because of the growing number of unique device identification initiatives along with the prevalence of improved healthcare infrastructure.
Asia-Pacific is expected to witness the fastest growth in the region in the global healthcare supply chain management market due to the availability of mobile-based healthcare solutions along with technical advancement
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The market also provides you with a detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, the impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Healthcare Supply Chain Management Market Share Analysis
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- MEDICAL Information Technology Inc. (U.S.)
- SAP SE (Germany)
- CPSI (U.S.)
- META Solutions (U.S.)
- Elinext (U.S.)
- EPIC Systems Corporation (U.S.)
- Oracle (U.S.)
- JAG Product Inc. (U.S.)
- Allscripts Healthcare LLC (U.S.)
- Optum Inc. (U.S.)
- Change Healthcare (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- athenahealth (U.S.)
- eClinicalWorks (U.S.)
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