The Synthetization Cost of Healthcare Supply Chain Management is a Major Factor Curbing the Growth of the Healthcare Supply Chain Management Market

The regulation of the medical goods flow as well as services from manufacturer to patient is referred to as healthcare supply chain management. The supply chain is the term used for the resources required to deliver goods or services to a consumer. The management of supply chain in healthcare is characteristically a very complex as well as fragmented process. The health care supply chain consists of three main groups namely, producers, purchasers and providers. The producers include manufacturing companies, purchasers comprises of wholesalers and distributors while providers consist of hospitals, pharmacies, and clinics Presently, the supply chain is facing major hurdles in terms of timely service delivery. It is occurring owing to the fact that every part of it is working independently and not as a collective system, leading to a misaligned network. This has resulted in a variety of solutions to automate as well as streamline the process, grow savings, and decrease costs. The addition of e-commerce solutions results in the omission of error-prone manual processes from the supply chain, leading to huge profits with reduced process costs.

The healthcare supply chain management market can be classified based on delivery model, software, hardware, and geography. Depending on the delivery model, the global healthcare supply chain management market is segmented into cloud-based, web-based and on premise. The market is further segmented by software is segmented into supplier management software, transportation management, procurement software, and others. The hardware market segment is divided into barcode, RFID, systems and others.

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The healthcare supply chain management market is analyzed to garner maximum revenue in the forecast period. Factors such as increased focus on supply chain management by the health care industry to efficiently diminish costs, large efforts to deliver high-quality as well as timely services, rising penetration and adoption of different components such as software and cloud-based solutions, and technological advancements leading to automation of the processes are expected to fuel the growth of healthcare supply chain management market.

Based on regions, the global healthcare supply chain management market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the market during the forecast period. The presence of top pharmaceutical companies coupled with the several government initiatives, and increased implementation of technologically advanced solutions.

The major companies that provide healthcare supply chain management solutions include SAP AG Group, AmerisourceBergen, Oracle Corporation, Geisinger Health System, Intermountain Healthcare, McKesson Corporation, Providence Health & Services, Advocate Health Care and others. The strategies adopted by the major companies to gain a stronghold in the market include geographical expansion into new, untapped, and potential markets, mergers & acquisitions, and new product launches.

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