Global Healthcare Supply Chain Management Market Outlook 2030

"The global healthcare supply chain management market size is estimated to be valued at ~USD 2 billion in 2021 and is expected to grow at a compound annual growth rate of 9% during the forecast period 2022-2030. It is mainly the increasing demand of healthcare providers and manufacturers to improve operational efficiency and profitability and reduce operating costs is driving the growth of the target market. The emergence of cloud-based and mobile solutions in the healthcare industry also supports market growth. In addition, advancements in analytics, machine learning, and the emergence of social media and big data are expected to drive the market significantly.
 The adoption rate of the medical device GS1 standard and the Unique Device Identification (UDI) is increasing rapidly and is expected to drive market development in the next few years. The GS1 standard certifies a globally unique identifier and allows cross-border compatibility of such solutions. Global standards have significantly improved patient safety and supply chain efficiency and effectiveness in the healthcare system. 

 

The implementation of global standards such as barcodes will help combat counterfeit medicines. Serialization, authentication and traceability can detect duplicate and unauthorized serial numbers. According to the World Health Organization, approximately 15% of the worlds medicines are counterfeit. This also brings serious risks to patient safety and threatens confidence in the pharmaceutical industry. Therefore, the implementation of the GS1 standard allows interested parties to verify the supply chain history of each product. Regulatory agencies such as the European Commission and the U.S. Food and Drug Administration (FDA) have adopted UDI legislation for medical devices as a global strategic priority for healthcare supply chains. Counterfeit medical products are an increasing trend year by year, so the implementation of UDI in medical devices is very important. 

 

UDI has also improved inventory management and provided a consistent way to identify items for distribution. Cloud-based supply chain management software and applications are changing the healthcare industry. As healthcare providers and manufacturers focus on achieving higher supplier quality and inventory optimization, the demand for cloud-based software is increasing.

 

 For example, Jump Technologies has developed a cloud-based software solution called JumpStock that integrates with EMR, ERP, or dispatch systems to enable hospitals to reduce costs associated with hoarding supplies, doctors’ different preferences and shortages. Cloud-based tracking and traceability solutions protect manufacturers from the variable costs of product recalls by identifying product quality issues early. These solutions also improve order management and production planning for all warehouse locations.

 

  PRODUCT INSIGHT: 

In 2020, software became one of the high-potential market segments. The increasing popularity of software that provides next-generation cloud computing applications such as SaaS is one of the key driving factors driving the development of this market segment. In addition, the growing demand for efficient management of organizational workflows by healthcare organizations, and the shift in value-based care trends in advanced economies are driving the development of the software field. 

 

Healthcare supply chain management software applications continue to evolve, focusing on improving patient outcomes and sharing patient data in real time. It is expected that the service sector will continue to grow at a compound annual growth rate of 8.7% during the forecast period. Advances in software platforms have stimulated demand for supply chain management services, such as support and maintenance, consulting, education, and training. 

 

The development of a series of platforms to monitor inventory management and acquisitions is a key factor driving the growth of this segment. The hardware sector is expected to achieve significant growth in the next few years, with barcodes accounting for the largest share of revenue in 2020. It is difficult for the healthcare industry to manage large amounts of information and all the challenges faced by healthcare providers and manufacturers. Bar codes provide a cost-effective solution for hospitals and manufacturers. For example, inventory control is a complex and time-consuming process that every healthcare organization has to deal with. Bar codes help manage these inventories by providing the right information at the right time.

 

DELIVERY MODEL INSIGHTS: 

 In 2020, cloud-based delivery models accounted for the largest revenue share in the healthcare supply chain management market, accounting for 40%; this segment is also expected to show the fastest growth during the forecast period. Increasing demand for cost-effective, easy-to-use technologies and higher acceptance rates is one of the key factors contributing to the development of this market segment. 

 

The increasing popularity of cloud computing among healthcare providers to maintain inventory and purchasing information is further driving the market. The compound annual growth rate for local deployment is expected to be 7.4% during the forecast period. When implementing local supply chain management solutions, organizations face multiple challenges in effective implementation and governance, policies and procedures, staffing, training, and retention. 

 

Coupled with high initial infrastructure and setup costs, it is expected to pose a challenge to the growth of this segment. Due to various security vulnerabilities in local and web-based deployments, preference for cloud-based technologies has increased. Web-based applications are affected by network performance. In addition to the high costs associated with hosting dedicated servers, this has also forced some medical institutions to switch to cloud-based deployments.

 

 END USE INFORMATION: 

In 2020, healthcare manufacturers accounted for the largest share of revenue and are expected to be the fastest growing segment during the forecast period. There are a large number of manufacturing centers in the pharmaceutical and medical device industries in developed and emerging economies, which generate considerable revenue. More and more suppliers adopt SaaS to help reduce the development and maintenance costs of support systems. It is expected that this will also promote the development of this market segment.

 

 The dealer sector is expected to grow at a significant rate during the forecast period. The growing demand for supply chain management solutions (such as software, hardware, and tools) from major pharmaceutical distributors to effectively coordinate between healthcare providers and manufacturers is one of the key factors driving this market segment One. 

 

In addition, pharmaceutical distributors are cooperating with supply chain management solution providers to manage inventory in the best way. This is expected to increase the demand from distributors for healthcare supply chain management solutions. The demand for cloud computing is driving the logistics field. The impact of cloud computing on logistics brings many benefits, such as significantly improving the efficiency and clarity of key functions. Cloud computing makes the process more transparent, thereby improving the logistics organization. In addition, RFID and barcodes are increasingly being used to support various logistics activities, such as order tracking and distribution route optimization.

 

 REGIONAL INFORMATION: 

In 2020, North America accounted for the largest share of market revenue. The mandatory implementation of GS1 standards and unique device identification (UDI) in pharmaceuticals and medical equipment, as well as the existence of large manufacturing centers, are one of the key factors that promote supply chain management in the North American market.

 

 In addition, the continuous development of IT and healthcare infrastructure and the growing demand for cloud computing have made a significant contribution to the growth of the market. The United States is a lucrative market in North America, with the largest revenue share in 2018. Manufacturers are increasingly adopting scanning technologies such as barcodes and RFID to curb counterfeit drugs, which has helped the market. 

 

The Asia-Pacific region is expected to be the most profitable market, with the highest compound annual growth rate during the forecast period of 9%. This is due to the availability of mobile device-based healthcare supply chain management solutions and the increasing deployment of technologically advanced solutions in countries such as India, China and Japan. More and more government plans to encourage healthcare providers and other healthcare organizations to use cloud-based software solutions to improve inventory management systems are expected to promote market development in the Asia-Pacific region over the years.

 

 HEALTH SUPPLY CHAIN MANAGEMENT MARKET SHARE INFORMATION: 

 

Oracle Corporation; SAP; Maxson Corporation; Manhattan Associates; Logi-Tag System; Tex; Infor Corporation; Global Healthcare Exchange (GHX); Jabil; and AmerisourceBergen are representatives Some major players in most markets. This can be attributed to its strong product portfolio, global influence and strong focus on innovations in healthcare supply chain management solutions over the years. The key strategies adopted by these participants to gain a competitive advantage mainly tend to expand the supply chain and commercialization services for pharmaceutical and medical product manufacturers. 

 

REPORTED SEGMENTS: 

The report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. In this study, Kenneth Research. segmented global healthcare based on product, delivery method, end user, and region. 

 

Supply chain management market report: Product Outlook (Revenue, USD million, 2022-2030) Software hardware barcode RFID label service delivery model outlook (revenue, millions of dollars, 2022-2030) on-premises cloud-based Web-based end-use outlook (revenue, millions of dollars, 2022-2030) healthcare manufacturer medical Healthcare provider distributor logistics"
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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