The healthcare supply chain management market size is projected to reach USD 3.3 billion by 2025 from USD 2.2 billion in 2020, at a CAGR of 7.9% during the forecast period. The key factors driving the growth of this market include the adoption of GS1 system of standard in the healthcare industry globally, the emergence of cloud-based solutions, reduction in operational costs by improving the efficacy and increase in overall profitability.
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The healthcare supply chain management market refers to the management and coordination of all activities involved in the flow of medical supplies, equipment, and services within the healthcare industry. It encompasses processes such as sourcing and procurement, inventory management, logistics and distribution, and demand forecasting.
Efficient supply chain management is crucial in the healthcare sector to ensure that healthcare providers have access to the right products and services at the right time and place. It helps in reducing costs, minimizing waste, improving patient safety, and optimizing overall operational efficiency.
The healthcare supply chain management market has been growing rapidly in recent years due to various factors such as the increasing complexity of the healthcare industry, rising healthcare costs, stringent regulations, and the need for better inventory management and visibility.
Key components of healthcare supply chain management include:
Sourcing and procurement: This involves identifying and selecting suppliers, negotiating contracts, and managing the purchasing process for medical supplies, equipment, and services.
Inventory management: It involves the efficient management of stock levels, ensuring that essential supplies are available when needed while avoiding excess inventory or stockouts.
Logistics and distribution: This component focuses on the transportation, storage, and distribution of medical products, ensuring timely and accurate delivery to healthcare facilities.
Demand forecasting and planning: By analyzing historical data and market trends, demand forecasting helps healthcare organizations anticipate future demand for supplies and plan accordingly to avoid shortages or excess inventory.
Supplier relationship management: Building and maintaining strong relationships with suppliers is essential to ensure a reliable supply of high-quality products and services.
Technology integration: The adoption of digital technologies, such as healthcare supply chain management software, RFID tracking systems, and data analytics, plays a crucial role in streamlining processes, improving visibility, and enhancing decision-making within the supply chain.
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Key Market Players
SAP SE (Germany), Oracle Corporation (US), and Infor (US) were the leading players in the healthcare supply chain management market. Other players include McKesson Corporation (US), TECSYS (US), Global Healthcare Exchange (US), Cardinal Health (US), Determine (US), Epicor (US), LLamasoft (US), Manhattan Associates (US), Blue Yonder Group, Inc. (JDA Software) (US), Cerner (US), Jump Technologies (US), LogiTag Systems (US), Harris Affinity (US), Premier (US), Accurate Info Soft (US), Hybrent (US), and Arvato Systems (Germany).
The healthcare supply chain management market is characterized by the presence of various software vendors, consulting firms, and logistics providers offering specialized solutions and services to healthcare organizations. These solutions aim to optimize supply chain operations, enhance transparency, and improve collaboration among stakeholders.
The objectives of this study are as follows:
- To define, describe, and forecast the global healthcare supply chain management market on the basis of component, end user, delivery mode, and region
- To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze opportunities in the market for key stakeholders and provide details of the competitive landscape for major market leaders
- To forecast the size of the market segments with respect to four major regions—North America, Europe, the Asia Pacific, and the Rest of the World
- To strategically analyze the market structure, profile key market players, and comprehensively analyze their core competencies2
- To track and analyze competitive developments such as product launches; partnerships, agreements, and collaborations; expansions; and acquisitions.
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