Press release
Healthcare Supply Chain Management Market Growth - Revenue to Hit $5.73 Billion by 2029 - Arizton
Curious to Know More About the Market? Click: [https://www.focusreports.store/report/healthcare-supply-chain-management-market-focused]
Report Scope
Market Size (2029): $5.73 Billion
Market Size (2023): $3.42 Billion
CAGR (2023-2029): 9.01%
Historic Year:2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Component, Development, End-User, and Geography
The healthcare supply chain management market is experiencing steady growth, driven by the need for greater efficiency, transparency, and resilience, as well as the transformative potential of technology. In 2023, the software & services segment led the market with a 56.66% share and is expected to grow at a 9.42% CAGR, attributed to increasing healthcare expenditure and the adoption of software solutions. The on-premises deployment segment held 51.64% of the market share in 2023 but is expected to decrease as cloud-based solutions gain traction. Healthcare manufacturers are projected to grow at a a significant CAGR, as they are essential for producing medical goods used in diagnosis, treatment, and prevention.
Geographically, North America dominated the market share in 2023, benefiting from a large presence of healthcare suppliers, high chronic disease prevalence, and a growing elderly population. The market is highly competitive, with key players including SAP SE, Oracle Corporation, Infor, and Manhattan Associates, alongside consulting firms and service providers offering implementation and support. The market is expected to continue growing, driven by the increasing adoption of advanced technologies in healthcare supply chain management.
Key Market Trends and Drivers
Personalized and Patient-Centric Healthcare: The healthcare industry is shifting towards personalized and patient-centric care, significantly impacting supply chain management. This trend focuses on optimizing the supply chain to meet individual patient needs, utilizing data analytics, predictive modeling, and customized delivery models. By ensuring the right products are available at the right time and place, healthcare providers can enhance patient outcomes and satisfaction.
Adoption of AI and RFID Tracking: The integration of Artificial Intelligence (AI) and Radio Frequency Identification (RFID) tracking in healthcare supply chains is revolutionizing the industry. AI-driven algorithms improve demand forecasting, inventory optimization, and procurement processes, while RFID technology ensures real-time visibility and traceability of medical products, reducing the risk of stockouts and errors.
Increasing Digital Transformation and Automation: Digitalization and automation are transforming healthcare supply chain management. Cloud-based systems, advanced analytics, and robotic process automation (RPA) are streamlining processes from procurement to distribution. These technologies enable healthcare organizations to reduce costs, improve efficiency, and enhance patient care.
Segment Analysis
Component: The market is segmented into software & services and hardware. Software & services, including planning & procurement, dominate the market and are expected to continue growing as healthcare organizations prioritize digital transformation.
Development: The cloud-based segment is experiencing the fastest growth, driven by the demand for scalable, flexible, and accessible solutions that reduce upfront investments.
End-User: Healthcare manufacturers hold the largest market share, with a focus on improving operational efficiency, ensuring product quality, and adapting to regulatory changes.
Logistics Companies the Fastest Growing Segment With A CAGR of 9.55%
In 2023, the logistics companies segment held a 14.16% share of the global healthcare supply chain management market, experiencing significant growth with an absolute growth rate of over 72%. Healthcare supply chain management software solutions for logistics companies focus on features like route optimization, real-time tracking, temperature-controlled transportation (vital for pharmaceuticals), inventory visibility, and regulatory compliance (e.g., Good Distribution Practices). These solutions must integrate seamlessly with other logistics systems, such as fleet management, warehouse management, and ERP systems, to ensure efficient data flow across the supply chain.
Given the sensitive nature of healthcare products, compliance with industry regulations like FDA and EU standards, as well as data security requirements (e.g., HIPAA), is crucial for software providers. The market for these solutions has a global presence, though adoption varies based on regional infrastructure, regulatory requirements, and healthcare expenditure levels. Key players in this space include Descartes Systems Group, Manhattan Associates, and JDA Software (now Blue Yonder), offering specialized solutions for healthcare logistics.
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Key Vendors
* Oracle
* Cardinal Health
* TECSYS
* SAP
* Arvato
* McKesson
* Blue Yonder Group
* BlueBin
* Curvo Labs
* Epicor
* Global Healthcare Exchange
* Harris Affinity
* Hybrent
* Infor
* Jump Technologies
* LogiTag
* Manhattan Associates
* Medsphere Systems
* PAR Excellence Systems
* Premier
* Vizient
* Anaplan
* Inventory Optimization Solutions (IOS
* Provista
* Sortly
* Symplr
* Workday
* Marg ERP Ltd.
* Swisslog Healthcare
* Tradogram
* Weproc
* ZOHO
Segmentation & Forecast
Component
* Software & Services
* Planning & Procurement
* Inventory & Warehousing
* Hardware
* Barcode & Barcode Scanners
* RFID Tags & Readers
Deployment
* On-Premises
* Cloud-Based
End-user
* Healthcare Manufacturers
* Healthcare Providers
* Distributors and Retailers
* Logistic Companies
Geography
North America
* The U.S.
* Canada
Europe
* Germany
* The U.K.
* France
* Italy
* Spain
APAC
* Japan
* China
* India
* Australia
* South Korea
Latin America
* Brazil
* Mexico
* Argentina
Middle East & Africa
* Turkey
* South Africa
* Saudi Arabia
Key Questions Answered in the Report:
How big is the global healthcare supply chain management market?
What is the growth rate of the global healthcare supply chain management market?
What are the key drivers of the global healthcare supply chain management market?
Who are the major players in the global healthcare supply chain management market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. 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 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.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=healthcare-supply-chain-management-market-growth-revenue-to-hit-573-billion-by-2029-arizton]
Phone: +1 3122332770
Country: United States
Website: https://www.focusreports.store/report/healthcare-supply-chain-management-market-focused
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