Apr 11, 2022

The healthcare supply chain management market by revenue is expected to grow at a CAGR of 8.32% during the period 2022-2027. The rising data in the healthcare sector, the improvements in the supply chain network of manufacturers, and the growing acceptance of supply chain management systems, both hardware and software in the emerging economies, are augmenting the growth of the healthcare supply chain management market. A healthcare facility must be modernized in supply chain management (SCM) practices. There are significant advantages to having advanced systems in place that streamline the flow. According to a survey of 100 hospitals, over half of the healthcare facilities are still using old and manual techniques for tracking the supply chain. By standardizing their practices, hospitals can attain savings of about 17%. Thus, modern SCM solutions are employed by healthcare institutions and other stakeholders to maximize profits and provide efficient support to the needy. SEGMENTATION ANALYSIS Adopting IoT-enabled devices with RFID tracking systems could be cost and time-effective for the effective growth of the healthcare supply chain management market. Supply chain software streamlines and automates repetitive manual tasks which are performed within the healthcare organizations in pursuit of a simple goal that is to achieve a more cost-effective supply chain market. SAP has been placing more focus on its SCM solutions, which are now marketed under the name digital supply chain from the past few years. The innovative software products built on top of the SAP Leonardo intelligent platform employ machine learning and IoT to bring visibility, forecasting, analytics, and collaboration to the next level to accelerate the healthcare supply management market. GEOGRAPHICAL ANALYSIS North America accounted for a share of about 40.23% in the global healthcare supply chain management market in 2021. US is the world's second-largest supplier of ventilators and the third-largest exporter of PPE. With high acceptance and open-mindedness in the North American region, new innovations in healthcare supply chain technologies are being adopted and developed by the healthcare facilities. To cater to the European medical device and pharmaceutical demand, the implementation of a supply chain management system in the European healthcare sector can help streamline the overall healthcare supply chain with the benefits of cost reduction, which anticipates the overall benefit of the market. VENDOR ANALYSIS Vendors are increasingly focusing on launching innovative devices to penetrate and tap the huge growth potential prevailing in the market. The growing adoption of cloud-based platforms is helping the vendors to improve their delivery of supply chain management solutions in the market. Major players such as Cardinal Health, Tecsys Inc., Oracle Corporation, and SAP SE collectively account for significant market shares. With the growing pressure to reduce costs in the healthcare sector, the market share of these vendors is expected to increase in the coming years of the supply chain management market. REPORT HIGHLIGHTS Due to the high demand for cloud-based solutions, increasing pharmaceutical and software company collaboration, improvements in the supply chain management product portfolio, and the emergence of technological advancements in the healthcare supply chain, the global medical supply chain management market is expected to see steady growth in the coming years. The use of clinical evidence can help clinicians and the supply chain collaborate to determine the best products that deliver the best care at the most optimal price. CISOM (Clinically Integrated Supply Outcomes Model) is an advanced and automated health system supply chain infrastructure at the point of care and can proactively identify the risk of adverse events to strengthen quality and safety for patients. PROMINENT VENDORS BlueBin