Healthcare Supply Chain Management Market Trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Healthcare Supply Chain Management Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The healthcare supply chain management market size has grown rapidly in recent years. It will grow from $2.69 billion in 2023 to $3.07 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to cost control, regulatory compliance, need for inventory management, vendor collaboration, demand forecasting.

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Market Drivers and Trends:

The expanding pharmaceutical industry is expected to boost the growth of the healthcare supply chain management market going forward. The pharmaceutical industry refers to the sector of the economy responsible for the research, development, production, and distribution of drugs and medications. A growing pharmaceutical industry leads to the production and distribution of a larger volume of medications. This necessitates more efficient supply chain management to ensure the timely and accurate delivery of pharmaceutical products to healthcare providers and patients. For instance, in January 2023, according to a report published by IQVIA Inc., a US-based pharmaceutical company, over the next five years, both global spending on and the demand for medicines are projected to rise, reaching an approximate total of $1.9 trillion by 2027. The increased access to medications has led to a 36% growth in medicine use, measured in defined daily doses, over the past decade. By 2027, specialty medicines are anticipated to account for around 43% of global spending and a majority share of 56% in developed markets. Global expenditure on cancer drugs is expected to reach $370 billion by 2027, driven by the introduction and utilization of innovative drugs, with limited impact from new biosimilars. Therefore, the increase in the geriatric population is driving the growth of the healthcare mobility solutions market.

Major companies operating in the healthcare supply chain management market are developing new products such as supply chain networks to meet larger customer bases, more sales, and increase revenue. A supply chain network is a complex and interconnected system of organizations, resources, activities, and technology that work together to design, produce, distribute, and deliver products or services to end customers. For instance, in November 2022, Cardinal Health, a US-based healthcare services and products company, launched Velocare, a supply chain network and last-mile fulfillment solution designed to deliver essential products and services required for hospital-level care at home, ensuring they reach patients within one to two hours. Velocare is a comprehensive solution that leverages the combined capabilities of Cardinal Health. It is specifically designed for health systems, payers, digital health firms, telehealth providers, and other entities involved in transitioning high-acuity care to patients' homes. These offerings build upon Cardinal Health's established strengths, including their expertise in global logistics and distribution, extensive supplier and vendor network management, and access to a wide array of home-based care providers. The pilot program will assess the utilization of new technology, innovative order-handling processes, compact depots, and short-distance delivery vehicles to enable the safe and consistent provision of hospital-level care within a home setting.

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Major Key Players of the Market:

Advocate Health Care; Banner Medical Innovations Inc.; SAP AG Group; Oracle Corporation; McKesson Corporation; TECSYS Inc.; Global Healthcare Exchange LLC; Cardinal Health Inc.; Determine Epicor; Llamasoft Ltd.; Manhattan Associates; Blue Yonder Group Inc.; Cerner Corporation; Jump Technologies Inc.; LogiTag Systems; Harris Affinity; Premier Ltd.; Accurate InfoSoft Pvt. Ltd.; Hybrent Inc.; Arvato Systems; Jabil Inc.; AmerisourceBergen Corporation; Avery Dennison Corporation; Ascension Health; Providence Health & Services; Spectrum Health; Ochsner Health System; Aspen Technology Inc.; Infor Global Solutions; Henry Schein Inc.; Manhatten Associates; Becton, Dickinson and Company; Owens & Minor Inc.; Medtronic plc; Novo Nordisk AS; Stryker Corporation; F. Hoffmann-La Roche AG; Scripps Health; Boston Scientific Corp.; Biogen Inc.; Johnson & Johnson Services Inc.

Healthcare Supply Chain Management Market 2024 Key Insights:

• The healthcare supply chain management market size is expected to grow to $4.97 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Expanding Pharmaceutical Markets Is Expected To Fuel The Growth Of The Healthcare Supply Chain Management Market
• Innovation And Product Diversification Strategies In The Healthcare Supply Chain Management Market
• North America will be the largest region in the healthcare supply chain management market in 2023.

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