Healthcare Supply Chain Management Market Size to Reach Revenues of USD 3.74 Billion by 2027 – Arizton

Subheading: Improving SCM leads to considerable cost savings for healthcare facilities and drives efficiencies in care. The healthcare supply chain starts with medical goods manufacturers that manufacture medical supplies and send them to distribution centers.

The healthcare supply chain management market is expected to grow at a CAGR of over 8.32% during the period 2021−2027.

Key Highlights Offered in the Report:
1. The growth of the global healthcare supply chain management market is driven by factors such as improved supply chain network of manufacturers, growing pressure in healthcare industry for cost reduction, rise in the adoption of advanced system such as GS1 System of Standards and the Food and Drug Administration’s (FDA’s) unique device identifier (UDI) system.
2. COVID-19 has laid a positive impact on the global supply chain management market as the demand for gloves, medical masks, medicines, and sanitizers increased during the pandemic which disrupted the standard of supply chain. Though, this forced the manufacturers and providers to adopt SCM software to streamline the process.
3. North America region dominated the geography segment with the highest incremental growth of USD 914.26 million. However, the APAC region will grow with the highest growing CAGR of 9.25% during the forecast period because of the growing acceptance and increasing technological advancements in the region.
4. Software component type dominated the component type segment in the market. The growth of this segment is driven by the number of advantages offered by supply chain management software.
5. Healthcare manufacturers are widely using the supply chain management solutions for transportation and warehouse management to make sure faster, more accurate, and more effective functioning.
6. The key players in the global healthcare supply chain management market such as Tecsys and Oracle are focusing on expanding their market presence through mergers and acquisitions.

Key Offerings:
• Market Size & Forecast by Revenue | 2021−2027
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by component, deployment, end-user, and geography
• Competitive Landscape – 7 key vendors and 18 other vendors

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Healthcare Supply Chain Management Market – Segmentation

• In 2021, the software & services segment of the global healthcare supply chain management market accounted for a revenue share of 56.05%. Companies must track and manage their process chain from start to finish with the help of supply chain software. The software is also designed to manage crucial information such as the forwarding of material through different channels until it is ready to be delivered to the final destination.
• On-premises is the dominant software delivery model for manufacturing management. However, there are alternative delivery models for software supporting environmental, health and safety activities, quality management, and business intelligence.
• The healthcare supply chain begins at the medical product manufacturer where items are manufactured and sent to a distribution center. Based on the type of product, hospitals can either purchase inventory directly through the distributor or manufacturer, or the transaction can be performed through a group purchasing organization, which determines a purchasing contract with the manufacturer on behalf of the hospital.

Healthcare Supply Chain Management Market by Component
• Software and Services
• Planning and Procurement
• Inventory and Warehousing
• Hardware
• Barcode and Barcode Scanners
• RFID Tags and Readers
Healthcare Supply Chain Management Market by Deployment
• On-Premises
• Cloud-Based
Healthcare Supply Chain Management Market by End-User
• Healthcare Manufactures
• Healthcare Providers
• Distributors and Retailers
• Logistic Companies

Healthcare Supply Chain Management Market – Dynamics

Data analytics and automation play a crucial role in managing a healthcare supply chain as paying attention to the supply chain is the most effective cost-reduction strategy in hospitals. The adoption of state-of-the-art healthcare technologies offers a considerable ROI. The most effective solution to manage a complex and fragmented healthcare supply chain is the adoption of emerging technologies. Technology plays a pivotal role in enabling advanced planning, synchronization, and collaboration across the supply chain. The integration of advanced technologies in the healthcare supply chain drives efficiency, reduces costs, and improves quality and care. Some of the emerging technologies that impact the healthcare SCM include AI and analytics, Internet of Things (IoT), Blockchain, and 3D printing. The adoption of blockchain in the healthcare sector is still in a nascent stage with many of its uses still being unexplored and related technologies being improved, developed, and scaled. The healthcare industry is now turning to new and emerging technologies such as blockchain to prepare global health systems for future health crises.

Key Drivers and Trends fueling Market Growth:
• Clinically Integrated Supply Chain
• Risk-based Collaborations Between Suppliers & Healthcare Providers
• Rising Adoption of Advanced Systems
• Improved Supply Chain Network of Manufacturers

Healthcare Supply Chain Management Market – Geography

The North American medical device industry relies on several industries where the US holds a competitive advantage in various segments such as microelectronics, telecommunications, instrumentation, biotechnology, and software development. North American countries have been demonstrating considerably high growth rates in recent years. This can be attributed predominantly to the faster adaptability of the latest technologies entering the market, and the participation of major players in the country. Furthermore, the US is the leading market for healthcare technologies, as several companies in the country are offering healthcare technology services and the US has the largest market share studied due to the well-established healthcare system.

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Healthcare Supply Chain Management Market by Geography
• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• APAC
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• Turkey
• South Africa
• Saudi Arabia

Major Vendors
• Oracle Corporation
• Cardinal Health
• Tecsys Inc.
• SAP

Other Prominent Vendors
• Arvato Supply Chain Management Solutions
• BlueBin
• Blue Yonder Group Inc.
• Curvolabs
• Epicor Software Corporation
• Global Healthcare Exchange
• Harris Affinity
• Hybrent
• Infor
• Jump Technologies Inc
• LogiTag Systems
• Manhattan Associates
• Medsphere Systems Corporation
• Par Excellence Systems
• Premier Inc
• Swisslog Healthcare
• Syft
• Vizient Inc.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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