Leading Element Driving Change in the Healthcare Supply Chain Management Market in 2025: Globalization's Role In Driving Healthcare Supply Chain Management Growth Driver

What industry-specific factors are fueling the growth of the healthcare supply chain management market?
With escalating globalization, the healthcare supply chain management market is poised for growth in the near future. The term globalization essentially signifies the escalating interdependence of world economies, cultures, and populations, predominantly influenced by cross-border trade of goods and services, advancement in technology, and the mobility of investment, people, and information. By enhancing healthcare knowledge and offering affordable healthcare technologies, globalization contributes positively to the improvement of healthcare management. For instance, the International Monetary Fund, a US-based financial establishment, in April 2024, projected a growth rate of 3.2 percent for the global economy in 2024 and 2025, similar to the pace of 2023. Accordingly, surging globalization steers the expansion of the healthcare supply chain management market.

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What Is the projected market size and growth rate for the healthcare supply chain management market?
In recent times, we have observed a swift expansion in the market size of healthcare supply chain management. It is projected to escalate from $3.09 billion in 2024 to $3.52 billion in 2025, with a compound annual growth rate (CAGR) of 13.7%. This significant growth during the historic period is largely due to factors like cost control measures, regulatory compliance requirements, the necessity for effective inventory management, collaboration with vendors, and demand forecasting.

The market size of healthcare supply chain management is predicted to witness a swift expansion in the upcoming years, reaching a value of $5.64 billion in 2029 with a compound annual growth rate (CAGR) of 12.5%. The expected rise during the forecast timeframe can be ascribed to factors such as the growth of telehealth, value-based care, heightened sustainability, regulatory shifts ,and resilience in the supply chain. The forecast period will also see significant trends like digitalization and automation, predictive analytics, the use of IoT and RFID tracking, the application of blockchain for increased transparency, and the adoption of lean and agile supply chains.

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What new trends are reshaping the healthcare supply chain management market and its opportunities?
Leading entities in the healthcare supply chain management market are innovating new products like cloud-based platforms that enhance operational productivity, bolster real-time data visibility, and simplify procurement, inventory, and logistics procedures within healthcare institutions. Cloud-based platforms are digital systems that run on remote servers accessed through the internet, as opposed to servers based locally or on-site. For example, United Parcel Service (UPS) Inc., a U.S. firm specializing in shipping & receiving and supply chain management, unveiled UPS Supply Chain Symphony for UPS Healthcare in March 2024. UPS Supply Chain Symphony, a cloud-based platform, improves healthcare supply chain management by amalgamating diverse logistics elements into a singular platform. This tool facilitates effective warehouse and transportation data management and visualization for its users, offering insights that can enhance supply chain tasks efficiency. Users have the ability to track shipment specifics from start to finish and can access on-demand reports detailing UPS shipments, warehouse conditions, and stock levels.

What major market segments define the scope and growth of the healthcare supply chain management market?
The healthcare supply chain management market covered in this report is segmented -

1) By Component: Software Application, Hardware Type
2) By Delivery Mode: On-Premise, Cloud Based
3) By End-User: Healthcare Providers, Healthcare Manufacturers, Other End-Users

Subsegments:
1) By Software Application: Inventory Management Software, Procurement Management Software, Supply Chain Analytics Software, Order Management Software
2) By Hardware Type: Barcode Scanners, RFID Systems, Mobile Computing Devices, Point-Of-Care Devices

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Which region dominates the healthcare supply chain management market?
North America will be the largest region in the healthcare supply chain management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare supply chain management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Which key market leaders are driving the healthcare supply chain management industry growth?
Major companies operating in the healthcare supply chain management market include 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, 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, Boston Scientific Corp., Biogen Inc., Johnson & Johnson Services Inc.

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What Is Covered In The Healthcare Supply Chain Management Global Market Report?

•Market Size Forecast: Examine the healthcare supply chain management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the healthcare supply chain management market for a structured understanding.
•Key Players Overview: Analyze major players in the healthcare supply chain management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the healthcare supply chain management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the healthcare supply chain management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the healthcare supply chain management market.
•Industry Challenges: Identify potential risks and obstacles affecting the healthcare supply chain management market.
•Competitive Landscape: Review strategic developments in the healthcare supply chain management market, including expansions, agreements, and new product launches.

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