Digital Healthcare Supply Chain Management Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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How has the digital healthcare supply chain management market grown in recent years?
In recent times, there has been significant growth in the market size of digital healthcare supply chain management. The market, which stands at $3.51 billion in 2024, is estimated to reach $3.95 billion in 2025, displaying a compound annual growth rate (CAGR) of 12.5%. The historical growth pattern can be traced back to factors such as a growing demand for transparency, heightened awareness of environmental repercussions, increased necessity for inventory management, an enhanced focus on data security, and an escalating significance placed on patient feedback.
How is the digital healthcare supply chain management market size expected to evolve during the forecast period?
The market size of digital healthcare supply chain management is projected to experience significant growth in the upcoming years, reaching $6.27 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 12.3%. This growth during the forecasted period can be credited to various factors such as the expansion of healthcare markets, growth of telehealth, shift towards value-based care, partnerships with technology startups, and the surge in e-commerce. Key trends during this period include the use of advanced forecasting tools, automation of inventory management systems, implementation of remote monitoring solutions, the integration of artificial intelligence in demand sensing, and the use of smart warehousing solutions.
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Which key drivers are propelling the digital healthcare supply chain management market’s growth?
The surge in the use of cloud computing is predicted to boost the development of the digital healthcare supply chain management market in the future. Cloud computing point towards the instant provision of computing services via the internet. These services range from servers, storage, databases, networking, software, and analytics. This technology is gaining popularity due to its scalability, cost-efficiency, adaptability, improved teamwork, and access from anywhere with internet connectivity. The digital healthcare supply chain management profits from cloud computing by facilitating data exchange, augmenting inventory monitoring, and making possible real-time analytics. These features collaborate to make the operations more efficient and result in improved patient well-being. For example, Eurostat, an intergovernmental institution situated in Luxembourg, stated in December 2023 that 42.5% of EU businesses used cloud computing in 2023 for hosting their e-mail systems and electronic file storage. This was a rise of 4.2% in comparison to 2021. Hence, the rising use of cloud computing is propelling the expansion of the digital healthcare supply chain management market.
What are the market segments in the digital healthcare supply chain management industry?
The digital healthcare supply chain management market covered in this report is segmented –
1) By Product: Software, Hardware, Services
2) By Deployment: On-Premise, Cloud-Based, Web-Based
3) By End-User: Pharmaceuticals, Medical Devices, Biotechnology And Vaccines, Clinical And Point Of Care Diagnostics
Subsegments:
1) By Software: Supply Chain Planning Software, Inventory Management Systems, Transportation Management Systems, Order Management Systems, Analytics And Reporting Software, Others
2) By Hardware: RFID Systems, Barcode Scanners, IoT-Enabled Devices, Storage And Networking Devices, Others
3) By Services: Implementation And Integration Services, Training And Support Services, Consulting Services, Managed Services, Others
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Which leading companies are shaping the growth of the digital healthcare supply chain management market?
Major companies operating in the digital healthcare supply chain management market are McKesson Corporation, Cardinal Health Inc., International Business Machines (IBM) Corporation, Oracle Corporation, SAP SE, Siemens Healthineers AG, Medline Industries Inc., Infosys Limited, Henry Schein Inc., Avery Dennison Corporation, Vizient Inc., Infor LLC, Veeva Systems Inc., Palantir Technologies Inc., Epicor Software Corporation, InterSystems Corporation, West Monroe Partners LLC, Global Healthcare Exchange LLC, Tecsys Inc., Rishabh Software Pvt Ltd., SYMPLR Inc., Terso Solutions Inc., KareXpert Technologies Pvt Ltd., Mika-Health Inc., Jump Technologies Inc.
How are evolving market trends shaping digital healthcare supply chain management Strategies?
Major companies operating in the digital healthcare supply chain management market are focusing on democratizing access to advanced digitalization tools through a low-technical configuration environment, such as a no-code network digitalization platform, to enhance the efficiency and flexibility of supply chain operations. A no-code network digitalization platform is a software solution that allows users to create, modify, and manage digital processes and workflows without requiring traditional coding skills. For instance, in September 2024, TraceLink, a US-based software company, launched the Opus platform, a significant advancement in supply chain management designed to facilitate the digitalization of end-to-end supply networks. It offers unique features such as a no-code design environment that allows users to configure complex supply chain workflows without extensive technical expertise, real-time visibility into supply chain performance through integrated reports and dashboards, and collective intelligence capabilities that enable collaborative decision-making across multiple enterprises to predict and prevent supply disruption.
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Which geographic areas are influencing the growth of the digital healthcare supply chain management market?
North America was the largest region in the digital healthcare supply chain management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital healthcare supply chain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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