Healthcare supply chain management Market Overview
The Global Healthcare Supply Chain Management Market was analyzed by Market Research Future (MRFR) and it was projected that a noteworthy CAGR of 8.2% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the healthcare supply chain management market was further stated to surpass its previous valuation by the end of 2023.
The major factors of growth for the Healthcare Supply Chain Management Market Share are an expanding number of businesses, fast product lifecycle, increasing fragmentation in the healthcare sector, rising globalization rate, high economy of scale, and others. Some of the other factors influencing the market are surging customer demand, increasing rate of customization, advancing capabilities of technologies, and others. However, factors like low innovation, lack of awareness among individuals, high cost associated with maintenance and installation, and issues concerning integration can limit the growth of the market over the forecast period.
Global Healthcare supply chain management Market Segment
The global healthcare supply chain management market has been segmented in terms of technology, models, function, end-user, delivery mode, and software.
- By models, the market branches into make-to-stock model, build-to-order, chain assembly, continuous replenishment model, and others.
- By function, the market is divided into warehousing and distribution, forecasting and planning, reverse and extended logistics, internal logistics and operations, inventory management and procurement, and others.
- By delivery mode, the market segments into web-based, on-premises, and others.
- By software, the market breaks down into planning and execution tools. The planning tools segment is narrowed down into supplier and vendor management, forecasting and inventory management, production and sales planning, others. While the execution tools segment is narrowed down into order processing and status tracking, warehouse management, and others.
- By technology, the market comprises radio frequency identification (RFID), barcode, internet of things and big data, global positioning system (GPS), and others.
- By end users, the market includes logistics companies and distributors, pharmaceutical and biotech companies, healthcare providers, and others.
Healthcare supply chain management Market Key Players:
The global healthcare supply chain management market comprises a host of key players. This includes names like Jump Technologies (US), SAP (Germany), TECSYS (Canada), McKesson (US), Infor (US), Oracle (US), GHX (US), LogiTag Systems (Israel), JDA Software (US), JDA Software (US), Manhattan Associates (US), and others.
Healthcare supply chain management Market Regional Analysis
The global healthcare supply chain management market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Middle East Africa.
The Americas is projected to lead the global healthcare supply chain management market due to an established healthcare sector, favorable government initiatives, the presence of a number of leading biotech and pharmaceutical organizations, growing in demand for medical devices and increasing technological advancement. The medical devices exportation and the generation of a huge sum of revenue is aiding the supply chain management in the healthcare sector in the Americas.
Europe is said to be the second largest region in the global healthcare supply chain management market. According to the European Commission publication of 2017, Europe was one of the leading exporters of pharmaceutical as well as medicinal products. Add to this, in 2016, European market accounted for EUR 144 billion, by exporting pharmaceutical products across the globe. The rising import and export activities for healthcare related products is slated to boost the market in this region on US healthcare supply.
Asia-Pacific is primed to be the fastest growing region in the market for healthcare supply chain management. This is due to the increasing prevalence of chronic disease and a considerable increase in the demand for pharmaceutical and medical products. Additionally, the increasing expenditure in the healthcare industry is anticipated to accelerate the growth of the regional market.
Lastly, the Middle East Africa stands with the lowest share of the market. A major share of this regional market is reported to be held by Middle East because of a comparatively developed healthcare sector and increasing number of government initiatives to enhance the healthcare sector.
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