Healthcare Supply Chain Management Market Worth USD 3.3 Billion By 2025, At A CAGR Of 7.9%
Summary
- The global healthcare supply chain management market 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.
The global healthcare supply chain management market 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 healthcare supply chain managementmarket 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. However, the high cost of implementation of supply chain management software is expected to restrict market growth to a certain extent.
The cloud-based segment will grow at the highest rate during the forecast period.
Based on delivery mode, the healthcare supply chain management market is segmented into on-premise and cloud-based. Though the on-premise segment holds the largest share in the market, the cloud-based segment is expected to register the highest growth over the forecast period.
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Manufacturers are said to account for the largest share in the HSCM market, by the end user.
Based on the end user, the healthcare supply chain management market is segmented into manufacturers, providers, and distributors. Manufacturers must cater to the increasing demand for products from their end-users.
The market in North America is projected to witness the highest growth rate during the forecast period (2020–2025).
North America is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as the consolidation of hospitals, rising prevalence of chronic diseases, and growing awareness in the region. On the other hand, the European region is expected to grow at the second-highest CAGR during the forecast period, followed by APAC and later ROW.
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Key Market Players
SAP SE (Germany), Oracle Corporation (US), Infor (US), 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).
Recent Developments
- In 2020, Infor acquired Intelligent InSite.
- In 2019, Oracle launched Intelligent Track and Trace, a blockchain application
- In 2019, SAP SE partnered with Microsoft Corporation, to improve consumer adoption of SAP Cloud Platform and SAP S/4 HANA on Microsoft Azure.
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