2058 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What External and Internal Drivers Are Contributing to the Growth of theHealthcare Supply Chain Management Market?

The escalated trend of globalization is projected to boost the expansion of the healthcare supply chain management market in the future. The term “globalization” refers to the escalating interconnection between the global economies, cultures, and communities, which is a result of cross-border trades of goods and services, technological advancements, investment flows, as well as the exchange of people and information. By enhancing healthcare knowledge and offering low-cost healthcare technologies, globalization augments healthcare management. For instance, as per the forecast by the International Monetary Fund, a financial organization based in the US, the global economy will experience a growth rate of 3.2 percent during 2024 and 2025, mirroring the growth rate of 2023. As a consequence, the surge in globalization is propelling the growth of the healthcare supply chain management market.

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What is the Predicted Annual Growth Rate of theHealthcare Supply Chain Management Market Impact Industry Trends by 2034?

The market size for healthcare supply chain management has seen a swift expansion in the past few years. The sector is projected to climb from $3.09 billion in 2024 to $3.52 billion in 2025 with a compound annual growth rate (CAGR) of 13.7%. The progression during the historic period can be credited to factors like cost regulation, compliance with regulations, inventory management necessities, cooperation with vendors, and prediction of demand.

In the coming years, the market size of healthcare supply chain management is projected to witness a swift expansion. It is predicted to reach $5.64 billion in 2029, growing at a compound annual growth rate (CAGR) of 12.5%. The surge during the forecasted period can be credited to factors like the growth of telehealth, the introduction of value-based care, enhanced sustainability, legislative modifications, and resilience of the supply chain. The prediction period is expected to see significant trends such as digitalization and automation, predictive analysis, Internet of Things (IoT) and RFID tracking, usage of blockchain for transparency, and lean and agile supply chain.

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Which Upcoming Market Trends and Innovations Are Set to Influence theHealthcare Supply Chain Management Market’s Path Forward?

Key players in the healthcare supply chain management market are pioneering advanced solutions such as cloud-based platforms. These platforms aim to boost operational effectiveness, promote visibility of real-time data, and simplify the procurement, inventory, and logistics processes within health care entities. Unlike traditional local or on-premise servers, cloud-based platforms run on distant servers accessible via the internet. For example, in March of 2024, a U.S. shipping, receiving, and supply chain management firm, United Parcel Service (UPS) Inc., launched UPS Supply Chain Symphony for UPS Healthcare. This cloud-based tool enhances healthcare supply chain management by unifying different logistics elements into a single, manageable system. The platform allows users to administer and visualize their warehouse and transport data comprehensively, offering insights that could streamline supply chain operations. Users can keep track of shipment specifics from their initial point to their destination, along with access to on-demand reports highlighting details of UPS shipments, warehouse statuses, and inventory volumes.

Who Are the Dominant Market Players Pushing the Boundaries of theHealthcare Supply Chain Management Market?

Major companies operating in the healthcare supply chain management market include SAP AG Group, Oracle Corporation, McKesson Corporation, TECSYS Inc., Global Healthcare Exchange LLC, Cardinal Health Inc., Determine Epicor, Llamasoft Ltd., Manhattan Associates, Blue Yonder Group Inc., Cerner Corporation, Jump Technologies Inc., LogiTag Systems, Harris Affinity, Premier Ltd., Accurate InfoSoft Pvt. Ltd., Hybrent Inc., Arvato Systems, Jabil Inc., AmerisourceBergen Corporation, Infor Global Solutions, Henry Schein Inc., Manhatten Associates, Becton Dickinson and Company, Owens & Minor Inc., Medtronic plc, Novo Nordisk AS, Stryker Corporation, F. Hoffmann-La Roche AG, Boston Scientific Corp., Biogen Inc., Johnson & Johnson Services Inc.

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What Are the Core Segments of the Healthcare Supply Chain Management Market, and How Do They Contribute to Growth?

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

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What Regions Are Dominating 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.

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