Healthcare Supply Chain Management Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
Healthcare Supply Chain Management Market: Market Segments: By Product (Software Hardware and Services); By Mode of Delivery (On-premise, Cloud-based and Web-based); By End User (Healthcare Manufacturers, Healthcare Providers, Distributors and Logistics); and Region – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Supply chain management in healthcare refers to the management of resources required to provide the end user with services/goods. It is a fragmented process involving multiple industries, such as medical equipment, information technology, pharmaceuticals, and facilities, to ensure that patients receive high-quality medical treatment. It includes securing money, handling materials, and supplying patients and suppliers with products & services.
Healthcare Supply Chain Management Market is expected to project a notable CAGR of 7.7% in 2030.
Healthcare Supply Chain Management Market to surpass USD 3.8 Billion by 2030 from USD 1.8 Billion in 2019 in terms of value growing at a CAGR of 7.7% throughout the forecast period, i.e., 2020-30. In the healthcare market globally, the implementation of the GS1 standard framework and an improvement in overall profitability are projected to drive the healthcare supply chain management market over the years forecast.
Healthcare Supply Chain Management Market: Segments
Services segment to grow with the highest CAGR of 8.5% during 2020-30
Healthcare Supply Chain Management Market is segmented by product as Software, Hardware and Services. The software products segment is expected to lead the market with a share of over XX.X percent in 2019. Among the key factors that improve the segment is the growing adoption of software such as SaaS, which provides next-generation cloud computing applications. In addition, the software segment is motivated by the increasing need for successful management of organizational workflows in healthcare organizations and a change in the trend towards value-based treatment in developed economies.
Healthcare Supply Chain Management Market: Market Dynamics
Rapid increase in the adoption of GS1 standards
In the coming years, it is projected that the rapid increase in the adoption of GS1 standards and specific product identification (UDI) for medical devices will propel the industry. GS1 standards certify globally unique identification and allow such solutions to be cross-border compatible. In the healthcare industry, global standards have greatly increased patient safety and supply chain efficiencies and effectiveness.
High Cost of Implementation of Supply Chain Management Software
There is a long way to go to reach a sufficient degree of cost reduction, considering the increased efforts of healthcare providers and suppliers to fight against the higher costs associated with supply chain management.
Healthcare Supply Chain Management Market: Regions
Healthcare Supply Chain Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Healthcare Supply Chain Management Market in North America led the market with a lion share of more than XX.X% in 2019 owing to the growing adoption of scanning technologies such as barcodes and RFID by manufacturers to curb counterfeit drugs has aided the market. The mandatory implementation of GS1 standards and Specific Device Identification (UDI) on prescription drugs and medical devices, coupled with the existence of major manufacturing hubs, are among the main factors boosting the supply chain management market in North America. In addition, the continuous advancement of healthcare and IT technology and the rising demand for cloud computing contribute significantly to market growth. Asia Pacific is anticipated to be the most lucrative market, exhibiting the highest CAGR of 9.5% during the forecast period.
Healthcare Supply Chain Management Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
Providence Health & Services
STERLING HEALTHCARE LOGISTICS.
Healthcare Supply Chain Management Market report also contains analysis on:
Healthcare Supply Chain Management Market Segments:
By Mode of Delivery:
Healthcare Supply Chain Management Market Dynamics
Healthcare Supply Chain Management Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Healthcare Supply Chain Management Market
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At what CAGR is the market anticipated to grow between 2020 and 2030?
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What are the growth drivers for the Healthcare Supply Chain Management Market?
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