Digital Solutions for a More Efficient Pharma Supply Chain From Delays to Deliveries

Digital Pharmaceutical Supply Chain Management Market to reach over USD 1.83 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Pharmaceutical Supply Chain Market Size, Share & Trends Analysis Report By Product (Software, Hardware), By Mode Of Delivery (Cloud-based, Web-based, and On -premises), By Software Modules (Software Modules Planning & Analytics, Procurement, Manufacturing, Logistics, and Inventory management)

The global Digital Pharmaceutical Supply Chain Management market is estimated to reach over USD 1835.93 million by 2024-2031, exhibiting a CAGR of 7.7% during the forecast period.

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India's Pharma Supply Chain Gets a Digital Boost: Startups Lead the Charge
The Indian pharmaceutical industry is undergoing a digital revolution, with a particular focus on streamlining supply chain operations. Innovative startups are leveraging technology to make the Indian pharma supply chain more efficient, transparent, and secure.

AI at the Forefront: Unlocking Actionable Insights
Artificial intelligence (AI) is playing a transformative role in the pharmaceutical supply chain. AI-powered solutions provide valuable insights that improve customer experience, supply chain visibility, and overall service quality.

Logistics Gets a Digital Edge: Faster Deliveries, Enhanced Efficiency
Logistics management platforms are empowering pharmaceutical companies to facilitate faster deliveries. Automation and digitization are key drivers of improved logistics efficiency. This capability proved especially crucial during the COVID-19 peak, when customers heavily relied on e-commerce and online retailers for essential supplies.

Mobile Apps: The Indispensable Ally in Supply Chain Management
The growing adoption of mobile-based healthcare supply chain management (SCM) systems by both providers and manufacturers is expected to propel further market growth. Mobile apps have become an essential part of modern SCM systems. These applications, leveraging GPS technology, simplify logistics management for organizations in both developed and developing countries. Additionally, sensor-equipped mobile devices enable real-time vehicle tracking, enhancing overall supply chain visibility.

The Road Ahead: A Digital Future for Pharma Supply Chains
India's pharmaceutical supply chain is poised for a digital transformation. By embracing innovative technologies and leveraging the expertise of forward-thinking startups, the industry can ensure a more efficient, transparent, and robust supply chain, ultimately benefiting patients and healthcare providers alike.

List of Prominent Players in the Digital Pharmaceutical Supply Chain Management Market:

• Terso Solutions
• CenTrak (HALMA plc)
• Biolog-id
• TraceLink
• McKesson Corporation
• Mediceo Corporation
• Palantir Technologies, Inc.
• Jump Technologies, Inc.
• InterSystems Corporation
• Tecsys
• Oracle
• SAP
• Infor

Market Dynamics:
Drivers-
The increased use of cutting-edge technologies in the logistics industry is what fuels growth. Additionally, these digital solutions are assisting logistic companies in lowering expenses. Due to the expansion of online purchasing and Internet users, the e-commerce business has seen significant growth. The expansion of e-commerce necessitates the need for faster and more effective transportation providers. Customers who shop online anticipate accurate orders, efficient shipping, and straightforward return policies.

Companies are seeking for ways to cut back on order shipping expenses and lead times. E-commerce is what makes things visible, affordable, simple to use, quick to deliver, and easy to return. To meet this need, new models and technologies must be developed that automate distribution routes, digitalize logistics planning, and streamline material transportation. Because of this, fulfilment services-particularly for last-mile delivery and refunds-have gotten quicker and more varied.

Challenges:
Due to the rising trend towards digitization, the COVID-19 epidemic has considerably boosted the market's growth pace. Due to the widespread use of online purchasing, businesses in the food and beverage, manufacturing, and logistics industries must boost their expenditures in automation, particularly supply chain automation and digitalization. hence promoting market growth for the digital supply chain.

Numerous businesses are impacted by this outbreak, making it harder for them to maintain the intricate supply chain networks. This is predicted to increase demand for digital supply chains.

Regional Trends:
The Asia-pacific Digital Pharmaceutical Supply Chain Management market is expected to register major market share in terms of revenue and projected to grow at a high CAGR in the near future. Because of the adoption of digital technology in nations like China, India, and other Asian nations, it is predicted that the Asia-Pacific region will experience the highest growth rate throughout the projected period. IoT, AI, and cloud technologies are examples of how technology breakthroughs are helping the market expand.

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Recent Developments:
• In Feb 2022, Oracle announced the addition of new capabilities for logistics management to Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The enhancements to Oracle Fusion Cloud Transportation Management and Oracle Fusion Cloud Global Trade Management enable businesses to reduce costs and risk, enhance customer experience, and become more resilient to business disruptions.

Segmentation of Digital Pharmaceutical Supply Chain Management Market-
By Product Insights-
• Software
• Hardware
• Services

By Delivery Insights-
• Cloud-based
• Web-based
• On -premises segments

By Software Modules-
• Planning & Analytics
• Procurement
• Manufacturing
• Logistics
• Inventory management

By Region-
North America-
• The US
• Canada
• Mexico

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

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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