Comprehensive Analysis of the Healthcare Supply Chain Management Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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What is the Projected Compound Annual Growth Rate (CAGR) of the Healthcare Supply Chain Management Market from 2025 to 2034, and What Factors Influence It?
In recent times, the healthcare supply chain management market has experienced significant expansion. Its size is projected to increase from $3.09 billion in 2024 to $3.52 billion the following year, with a compound annual growth rate (CAGR) of 13.7%. This growth in the historical period can be linked to factors such as cost regulation, compliance with regulations, the necessity for inventory management, collaboration with vendors, and prediction of demand.
The market size of healthcare supply chain management is predicted to witness accelerated expansion in the coming years, reaching $5.64 billion by 2029 with a compound annual growth rate (CAGR) of 12.5%. The projected rise during the forecast period is influenced by factors such as the growth of telehealth, the implementation of value-based care, an increase in sustainability, regulatory shifts, and the resilience of the supply chain. Key trends anticipated during the forecast period encompass digitalization and automation, predictive analytics, the use of iot and RFID tracking, incorporation of blockchain for better transparency, and lean and agile supply chains.
What Strategic Factors Are Influencing the Accelerated Growth of the healthcare supply chain management Market?
The surge in globalization is anticipated to spur the expansion of the healthcare supply chain management market in the future. The term globalization refers to the increasing interconnectivity of world economies, cultures, populations, exemplified by transnational trade in goods and services, technology, and the movement of investment, people, and information. Globalization has enhanced healthcare management by promoting healthcare knowledge and offering affordable healthcare technologies. For example, in April 2024, the International Monetary Fund, a financial institution based in the US, forecasts that the world economy will expand by 3.2 percent during 2024 and 2025, matching the growth rate of 2023. Consequently, the escalating globalization is fueling the progression of the healthcare supply chain management market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Healthcare Supply Chain Management Market?
Major companies operating in the healthcare supply chain management market include:
• SAP AG Group_x000D_
• Oracle Corporation_x000D_
• McKesson Corporation_x000D_
• TECSYS Inc._x000D_
• Global Healthcare Exchange LLC_x000D_
What Are the Key Emerging Trends in the Healthcare Supply Chain Management Market for the Next Decade?
Leading businesses operating in the healthcare supply chain management market are focusing on the development of advanced products such as cloud-based platforms. These products aim to increase operational efficiency, facilitate real-time data visibility, and simplify the procurement, inventory, and logistics procedures within healthcare establishments. These cloud-based platforms function on remote servers accessed via the internet and not on local or on-premise servers. For example, United Parcel Service (UPS) Inc., an American shipping & receiving and supply chain management firm, unveiled its UPS Supply Chain Symphony for UPS Healthcare in March 2024. This is a cloud-based platform aiming to augment healthcare supply chain management by incorporating various logistic elements into a unified system. This instrument aids users to efficiently manage and visualize their warehouse and transportation data, yielding insights that can fine-tune supply chain operations. Users also have the benefit of tracking shipment information from source to destination, as well as accessing on-demand reports detailing UPS shipments, warehouse status, and inventory levels.
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What Are the Main Segments of the Healthcare Supply Chain Management Market, and How Are They Evolving?
The healthcare supply chain management market covered in this report is segmented –
1) By Component: Software Application, Hardware Type
2) By Delivery Mode: On-Premise, Cloud Based
3) By End-User: Healthcare Providers, Healthcare Manufacturers, Other End-Users
Subsegments:
1) By Software Application: Inventory Management Software, Procurement Management Software, Supply Chain Analytics Software, Order Management Software
2) By Hardware Type: Barcode Scanners, RFID Systems, Mobile Computing Devices, Point-Of-Care Devices
Which Regions Are Making a Mark in the Healthcare Supply Chain Management Market Growth?
North America will be the largest region in the 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 healthcare supply chain management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Are the Core Features That Define the Healthcare Supply Chain Management Market?
Healthcare supply chain management refers to a process that efficiently manages the workflow of the supply of medical goods and services from manufacturers to patients. It involves obtaining resources, managing supplies, and delivering goods and services to providers and patients.
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