Healthcare Supply Chain Management Market
Healthcare Supply Chain Management Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Component (Software (Inventory, Order, Warehouse, Purchase, Implant, Transport, Strategic Sourcing, Consignment), Hardware (Barcode, Scanner, RFID), and Services); By Delivery (On Premise and Cloud-based); By End User (Healthcare Providers (Hospitals, Clinics, Maternity Centers, Outpatient Centers, Pathology Laboratories), Healthcare Manufacturers, Distributors and Retailers, and Logistics Companies); Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)
- Published Date: August 2022
- Report ID: BWC22261
- Available Format: PDF
- Page: 230
Report Overview
Global Healthcare Supply Chain Management Market is growing owing to the improved operational efficiency, reduced operating costs, improved profitability and quality due to the emergence of cloud-based and mobile-based solutions and adoption of GS1 system of standard in the healthcare industry globally.
Global Healthcare Supply Chain Management Market - Industry Trends & Forecast Report 2028
Global healthcare supply chain management market was worth USD 2.2 billion in 2021 and is projected to reach USD 5.3 billion by the year 2028, exhibiting a CAGR of 13.2% in the forecast period. The rapid expansion of the market is predominantly due to the emergence of cloud-based and mobile-based solutions and the adoption of the global GS1 (Global Standard) standard system in the healthcare industry globally. Moreover, the increased need to improve operational efficiency, reduce operating costs, and improve profitability and quality are also driving the global healthcare supply chain management market growth during the forecast period 2022-2028.
Healthcare Supply Chain Management - Overview
Supply chain management is the process of handling the production flow of goods and services between businesses and locations. Specifically, healthcare supply chain management deals with all rationalized processes associated with the production, storage, and transport of healthcare products. The streamlining and standardization of the supply chain management process can help hospitals save USD 12 million per hospital annually.
The fast-growing healthcare industry faces the challenge of increased service costs. To combat the same, it is essential to improve operational efficiency, reduce operating costs and improve the profitability and quality of healthcare products and services. This is facilitated by the emergence of cloud-based and mobile-based solutions along with the adoption of the GS1 system of standard in the healthcare industry globally.
Global Healthcare Supply Chain Management Market Forecast and Trends
Growth Drivers
Increasing Usage of Software and Mobile-Based Systems
The supply chain management of medical supplies, pharmaceuticals, medical devices, and surgical supplies must be both convenient and transparent; therefore it is essential to adopt software systems over hardware systems. All processes such as planning, designing, executing, controlling, purchasing, monitoring the flow of products and services, and synchronizing the demand and supply of products are managed by a single integrated software with the help of eco-friendly logistics.
As the healthcare industry is highly fragmented with high economies of scale, it is essential to customize the technology to emerge as quality healthcare providers to meet the increasing customer demand and satisfaction. For example, in the healthcare industry, the software is used to manage electronic medical records, electronic health records, picture archiving and communication systems, telehealth, revenue cycle management, billing, supply chain, and many more.
The unfolding of Cloud-Based Solutions
The unfolding of advanced cloud-based solutions has opened immense opportunities for the healthcare industry. The cloud-based solutions are preferred over on-premises solutions as they not only allow the sharing, integrating, and storing of the information but also minimize the costs of installation and maintenance. This efficient system helps to improve operational efficiency, reduce operating costs and improve the profitability and quality of the healthcare services.
Moreover, the growing number of unique device identification initiatives, increased pressure on healthcare providers, and increasing drug forging will also drive the growth of the healthcare supply chain management market. Furthermore, machine learning, advancements in analytics, block-chain management, and the advent of social media and Big Data are also expected to significantly drive the market. A sterling technology, ACXSS is specifically designed to meet the needs of the healthcare systems. It is an intelligent cloud-based supply chain management solution that modernizes the purchasing processes for the healthcare industry.
Inflation of Healthcare Data
Data is the life and blood of an organization. According to the United Nations, the global population is expected to rise to 8.4 billion in 2028; therefore, with the increasing population, healthcare organizations are facing an explosion in healthcare data. It is not feasible to manage this huge data manually; therefore, it is imperative to introduce a single integrated supply chain management software that will collect, retrieve, tabulate, record, maintain, store, and share all healthcare information with the help of eco-friendly logistics. Compatible hardware must be installed for smooth functioning.
Restraints
Inefficient Data Collection
Inarguably, supply chain management systems precisely capture and analyze data, which reduces costs and labor, and helps in stabilizing the inventory by delivering better information on product needs and focusing on risk management strategies.
However, the level of automation in the different healthcare organizations varies as some important, secret, and sensitive information must be manually recorded and maintained; for example, many hospitals prefer to manually count their inventory in real-time.
Therefore, the hesitation and irresolution of the management of the healthcare organizations in adopting supply chain management solutions is hindering the growth of the global market. Other restraining factors include low innovation, high cost of maintenance and installation, lack of awareness, and issues with integration.
Impact of COVID-19 on Global Healthcare Supply Chain Management Market
The global healthcare supply chain management market was unexpectedly impacted during the Covid-19 pandemic. The sudden rise in infections led to increased demand for surgical masks, sanitizers, PPE kits, gloves, and medicines, disrupting the standard healthcare supply chain. Moreover, it resulted in hospital overcrowding, lack of beds, and low oxygen supply, to name a few. This eye-opening pandemic forced healthcare organizations, healthcare providers, and pharmaceutical companies to adopt the software and cloud-based healthcare supply chain management system, which undoubtedly mitigated some of the challenges faced by the healthcare industry.
Global Healthcare Supply Chain Management Market - By Component
Based on components, the global healthcare supply chain management market is segmented into software (inventory, order, warehouse, purchase, implant, transport, strategic sourcing, consignment), hardware (barcode, scanner, RFID), and Services.
Amidst the segmentation, the software segment accounted for the larger market share in 2021. This is due to the adoption of software as a service model which deals with various applications such as salesforce automation, conferencing, web content management, and customer relationship management, among others.
On the other hand, the services segment is expected to grow with the highest CAGR during the forecast period 2022-2028. This is attributed to the increased developments in the software platforms, resulting in deeper penetration of supply chain management in the healthcare industry.
Global Healthcare Supply Chain Management Market - By Delivery
Based on delivery, the global healthcare supply chain management market is segmented into on-premise and cloud-based delivery modes. Amidst the segmentation, the cloud-based segment accounted for the largest market share in 2021.
Moreover, the same segment is expected to grow with the highest CAGR during the forecast period 2022-2028. This is because the cloud-based delivery mode is user-friendly, cost-effective, and has higher acceptance rates as compared to on-premise deployment as it faces various challenges relating to effective implementation and governance, policies and processes, high set-up costs, staff recruitment, and training and retention. Due to security breaches on-premise, healthcare companies prefer to use cloud-based technology.
Global Healthcare Supply Chain Management Market - Regional Insights
The global healthcare supply chain management market has been segmented based on regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Amidst the segmentation, North America dominated the global healthcare supply chain management market share in 2021 due to the increasing number of unique device identification initiatives along with improved healthcare infrastructure. This is because the U.S.A is the largest employer in the healthcare sector, with more than 780 thousand companies, as per the State of Healthcare Industry – Statistics for 2022.
The Asia-Pacific is estimated to grow at the highest rate due to technical advancements and the availability of mobile-based healthcare solutions.
Competitive Landscape
The key players operating in the global healthcare supply chain management market are SAP, Infor, Oracle Corporation, TECSYS, McKesson Corporation, Manhattan Associates, Jump Technologies, JDA Software, LogiTag Systems, Advocate Health Care, Global Healthcare Exchange (GHX), Jabil, AmerisourceBergen, MEDICAL Information Technology Inc., CPSI, Meta, Elinext, EPIC Systems Corporation, Cognizant, Jag products LLC, Allscripts Healthcare LLC, Optum Inc., Cerner Corporation, Change Healthcare, Koninklijke Philips N.V., Athenahealth, and eClinicalWorks.
The Global Healthcare Supply Chain Management Market is highly fragmented, with the presence of several manufacturing companies in the country. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
Recent Development
- In April 2022, TraceLink introduced the multi-enterprise supply chain work management solution on the Opus Digital Network Platform for the healthcare and life sciences industry.
- In March 2022, Symplr put out plans to acquire GreenLight Medical, a medical supply chain management software company, to help build its product line and offer its clients more services in the Supply Chain Management arena.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2018-2021 |
Base Year – 2021 | |
Estimated Year - 2022 | |
Forecast – 2022 – 2028 | |
Facts Covered | Revenue in USD Billion |
Market Coverage | North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, Spain), Asia-Pacific (China, India, Australia, Japan, South Korea), Latin America (Brazil, Mexico), Middle East & Africa (Saudi Arabia, Turkey, United Arab Emirates, South Africa) |
Product Service/Segmentation | By Component, By Delivery, By End User |
Key Players | SAP, Infor, Oracle Corporation, TECSYS, McKesson Corporation, Manhattan Associates, Jump Technologies, JDA Software, LogiTag Systems, Advocate Health Care, Global Healthcare Exchange (GHX), Jabil, AmerisourceBergen, MEDICAL Information Technology Inc, CPSI, Meta, Elinext, EPIC Systems Corporation, Cognizant, Jag products LLC, Allscripts Healthcare LLC, Optum Inc., Cerner Corporation, Change Healthcare, Koninklijke Philips N.V., Athenahealth, and eClinicalWorks. |
By Component
- Software
- Inventory
- Order
- Warehouse
- Purchase
- Implant
- Transport
- Strategic Sourcing
- Consignment
- Hardware
- Barcode
- Scanner
- RFID
- Services
By Delivery
- On-premise
- Cloud-based
By End User
-
-
- Healthcare Providers
- Hospitals
- Clinics
- Maternity Centers
- Outpatient Centers
- Pathology Laboratories
-
-
- Healthcare Manufacturers
- Distributors and Retailers
- Logistics Companies
By Region
-
-
- North America
- Europe
- Asia Pacific
- Latin AmericaThe
- Middle East and Africa
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- Global Healthcare Supply Chain Management Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Advancement/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Global Healthcare Supply Chain Management Market Overview
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- Software
- Inventory
- Order
- Warehouse
- Purchase
- Implant
- Transport
- Strategic Sourcing
- Consignment
- Hardware
- Barcode
- Scanner
- RFID
- Services
- Software
- By Delivery
- On-premise
- Cloud-based
- By End User
- Healthcare Providers
- Hospitals
- Clinics
- Maternity Centers
- Outpatient Centers
- Pathology Laboratories
- Healthcare Manufacturers
- Distributors and Retailers
- Healthcare Providers
- Logistics Companies
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
- By Component
- Market Size & Forecast by Value, 2018-2028
- North America Healthcare Supply Chain Management Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Delivery
- By End User
- By Country
- United States
- Canada
- Market Size & Forecast by Value, 2018-2028
- Europe Healthcare Supply Chain Management Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Delivery
- By End User
- By Country
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Market Size & Forecast by Value, 2018-2028
- The Asia Pacific Healthcare Supply Chain Management Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Delivery
- By End User
- By Country
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Market Size & Forecast by Value, 2018-2028
- Latin America Healthcare Supply Chain Management Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Delivery
- By End User
- By Country
- Brazil
- Mexico
- Rest of Latin America
- Market Size & Forecast by Value, 2018-2028
- The Middle East & Africa Healthcare Supply Chain Management Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Delivery
- By End User
- By Country
- Saudi Arabia
- UAE
- Turkey
- South Africa
- Rest of Middle East & Africa
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership.)
- Impact of Covid-19 on Global Healthcare Supply Chain Management Market Industry
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- SAP
- Infor
- Oracle Corporation
- TECSYS
- McKesson Corporation
- Manhattan Associates
- Jump Technologies
- JDA Software
- LogiTag Systems
- Advocate Health Care
- Global Healthcare Exchange (GHX)
- Jabil
- AmerisourceBergen
- MEDICAL Information Technology Inc.
- CPSI
- Meta
- Elinext
- EPIC Systems Corporation
- Cognizant
- Jag products LLC
- Allscripts Healthcare LLC
- Optum Inc.
- Cerner Corporation
- Change Healthcare
- Koninklijke Philips N.V.
- athenahealth
- eClinicalWorks
- Other prominent players
- Key Strategic Recommendations
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List Of Figures
Figure 1 Global Healthcare Supply Chain Management Segmentation
Figure 2 Global Healthcare Supply Chain Management Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Global Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 5 Global Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 6 Global Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 7 Global Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 8 Global Healthcare Supply Chain Management Market Share, By Region, By Value, 2022-2028
Figure 9 North America Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 10 North America Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 11 North America Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 12 North America Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 13 North America Healthcare Supply Chain Management Market Share, By Country, By Value, 2022-2028
Figure 14 Europe Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 15 Europe Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 16 Europe Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 17 Europe Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 18 Europe Healthcare Supply Chain Management Market Share, By Country, By Value, 2022-2028
Figure 19 The Asia-Pacific Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 20 The Asia-Pacific Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 21 The Asia-Pacific Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 22 The Asia-Pacific Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 23 The Asia-Pacific Healthcare Supply Chain Management Market Share, By Country, By Value, 2022-2028
Figure 24 Latin America Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 25 Latin America Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 26 Latin America Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 27 Latin America Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 28 Latin America Healthcare Supply Chain Management Market Share, By Country, By Value, 2022-2028
Figure 29 The Middle East & Africa Healthcare Supply Chain Management Market Size, By Value (USD Billion), 2022-2028
Figure 30 The Middle East & Africa Healthcare Supply Chain Management Market Share, By Component, By Value, 2022-2028
Figure 31 The Middle East & Africa Healthcare Supply Chain Management Market Share, By Delivery, By Value, 2022-2028
Figure 32 The Middle East & Africa Healthcare Supply Chain Management Market Share, By End User, By Value, 2022-2028
Figure 33 The Middle East & Africa Healthcare Supply Chain Management Market Share, By Country, By Value, 2022-2028
List Of Tables
Table 1 Global Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 2 Global Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 3 Global Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 4 Global Healthcare Supply Chain Management Market Size, By Region, By Value, 2022-2028
Table 5 North America Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 6 North America Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 7 North America Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 8 North America Healthcare Supply Chain Management Market Size, By Country, By Value, 2022-2028
Table 9 Europe Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 10 Europe Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 11 Europe Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 12 Europe Healthcare Supply Chain Management Market Size, By Country, By Value, 2022-2028
Table 13 The Asia-Pacific Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 14 The Asia-Pacific Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 15 The Asia-Pacific Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 16 The Asia-Pacific Healthcare Supply Chain Management Market Size, By Country, By Value, 2022-2028
Table 17 Latin America Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 18 Latin America Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 19 Latin America Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 20 Latin America Healthcare Supply Chain Management Market Size, By Country, By Value, 2022-2028
Table 21 The Middle East & Africa Healthcare Supply Chain Management Market Size, By Component, By Value, 2022-2028
Table 22 The Middle East & Africa Healthcare Supply Chain Management Market Size, By Delivery, By Value, 2022-2028
Table 23 The Middle East & Africa Healthcare Supply Chain Management Market Size, By End User, By Value, 2022-2028
Table 24 The Middle East & Africa Healthcare Supply Chain Management Market Size, By Country, By Value, 2022-2028
Table 25 SAP Company Overview
Table 26 SAP Financial Overview
Table 27 Infor Company Overview
Table 28 Infor Financial Overview
Table 29 Oracle Corporation Company Overview
Table 30 Oracle Corporation Financial Overview
Table 31 TECSYS Company Overview
Table 32 TECSYS Financial Overview
Table 33 McKesson Corporation Company Overview
Table 34 McKesson Corporation Financial Overview
Table 35 Manhattan Associates Company Overview
Table 36 Manhattan Associates Financial Overview
Table 37 Jump Technologies Company Overview
Table 38 Jump Technologies Financial Overview
Table 39 JDA Software Company Overview
Table 40 JDA Software Financial Overview
Table 41 LogiTag Systems Company Overview
Table 42 LogiTag Systems Financial Overview
Table 43 Advocate Health Care Company Overview
Table 44 Advocate Health Care Financial Overview
Table 45 Global Healthcare Exchange (GHX) Company Overview
Table 46 Global Healthcare Exchange (GHX) Financial Overview
Table 47 Jabil Company Overview
Table 48 Jabil Financial Overview
Table 49 AmerisourceBergen Company Overview
Table 50 AmerisourceBergen Financial Overview
Table 51 MEDICAL Information Technology Inc. Company Overview
Table 52 MEDICAL Information Technology Inc. Financial Overview
Table 53 SAP SE Company Overview
Table 54 SAP SE Financial Overview
Table 55 CPSI Company Overview
Table 56 CPSI Financial Overview
Table 57 Meta Company Overview
Table 58 Meta Financial Overview
Table 59 Elinext Company Overview
Table 60 Elinext Financial Overview
Table 61 EPIC Systems Corporation Company Overview
Table 62 EPIC Systems Corporation Financial Overview
Table 63 Cognizant Company Overview
Table 64 Cognizant Financial Overview
Table 65 Jag products LLC Company Overview
Table 66 Jag products LLC Financial Overview
Table 67 Allscripts Healthcare LLC Company Overview
Table 68 Allscripts Healthcare LLC Financial Overview
Table 69 Optum Inc. Company Overview
Table 70 Optum Inc. Financial Overview
Table 71 Cerner Corporation Company Overview
Table 72 Cerner Corporation Financial Overview
Table 73 Change Healthcare Company Overview
Table 74 Change Healthcare Financial Overview
Table 75 Koninklijke Philips N.V. Company Overview
Table 76 Koninklijke Philips N.V. Financial Overview
Table 77 athenahealth Company Overview
Table 78 athenahealth Company Overview
Table 79 eClinicalWorks Financial Overview
Table 80 eClinicalWorks Company Overview
Market Segmentation
By Component
- Software
- Inventory
- Order
- Warehouse
- Purchase
- Implant
- Transport
- Strategic Sourcing
- Consignment
- Hardware
- Barcode
- Scanner
- RFID
- Services
By Delivery
- On-premise
- Cloud-based
By End User
- Healthcare Providers
- Hospitals
- Clinics
- Maternity Centers
- Outpatient Centers
- Pathology Laboratories
-
-
- Healthcare Manufacturers
- Distributors and Retailers
- Logistics Companies
By Region
- North America
- Europe
- Asia Pacific
- Latin AmericaThe
- Middle East and Africa
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