Report Overview

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

By Component

• Software
  1. Inventory
  2. Order
  3. Warehouse
  4. Purchase
  5. Implant
  6. Transport
  7. Strategic Sourcing
  8. Consignment
• Hardware
  1. Barcode
  2. Scanner
  3. RFID
• Services

By Delivery

• On-premise
• Cloud-based

By End User

• • •  
• Healthcare Providers

1. Hospitals
2. Clinics
3. Maternity Centers
4. Outpatient Centers
5. Pathology Laboratories

• • •  
• Healthcare Manufacturers
• Distributors and Retailers
• Logistics Companies

By Region

• • •  
• North America
• Europe
• Asia Pacific
• Latin AmericaThe
• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Healthcare Supply Chain Management Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Healthcare Supply Chain Management Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
         1. Software
            1. Inventory
            2. Order
            3. Warehouse
            4. Purchase
            5. Implant
            6. Transport
            7. Strategic Sourcing
            8. Consignment
         2. Hardware
            1. Barcode
            2. Scanner
            3. RFID
         3. Services
      2. By Delivery
         1. On-premise
         2. Cloud-based
      3. By End User
         1. Healthcare Providers
            1. Hospitals
            2. Clinics
            3. Maternity Centers
            4. Outpatient Centers
            5. Pathology Laboratories
         2. Healthcare Manufacturers
         3. Distributors and Retailers
      4. Logistics Companies
      5. By Region
         1. North America
         2. Europe
         3. Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Healthcare Supply Chain Management Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
      2. By Delivery
      3. By End User
      4. By Country
         1. United States
         2. Canada
7. Europe Healthcare Supply Chain Management Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
      2. By Delivery
      3. By End User
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Healthcare Supply Chain Management Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
      2. By Delivery
      3. By End User
      4. By Country
         1. China
         2. India
         3. Japan
         4. Australia
         5. South Korea
         6. Rest of Asia Pacific
9. Latin America Healthcare Supply Chain Management Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
      2. By Delivery
      3. By End User
      4. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Healthcare Supply Chain Management Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Component
       2. By Delivery
       3. By End User
       4. By Country
          1. Saudi Arabia
          2. UAE
          3. Turkey
          4. South Africa
          5. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global Healthcare Supply Chain Management Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. SAP
    2. Infor
    3. Oracle Corporation
    4. TECSYS
    5. McKesson Corporation
    6. Manhattan Associates
    7. Jump Technologies
    8. JDA Software
    9. LogiTag Systems
    10. Advocate Health Care
    11. Global Healthcare Exchange (GHX)
    12. Jabil
    13. AmerisourceBergen
    14. MEDICAL Information Technology Inc.
    15. CPSI
    16. Meta
    17. Elinext
    18. EPIC Systems Corporation
    19. Cognizant
    20. Jag products LLC
    21. Allscripts Healthcare LLC
    22. Optum Inc.
    23. Cerner Corporation
    24. Change Healthcare
    25. Koninklijke Philips N.V.
    26. athenahealth
    27. eClinicalWorks
    28. Other prominent players
14. 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