Healthcare Supply Chain Management Market Projected at $5.64 Billion by 2029 | Strategic Insights and Forecast Data
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How Has the Healthcare Supply Chain Management Market Size Changed, over the years?
The size of the healthcare supply chain management market has seen swift expansion in recent times. Its growth is projected to surge from $3.09 billion in 2024 to $3.52 billion in 2025, with a compound annual growth rate (CAGR) of 13.7%. Factors such as cost control, regulatory adherence, the necessity for inventory management, collaboration with vendors, and demand prediction have contributed to the growth in the previous period.
How Much Will the Healthcare Supply Chain Management Market Be Worth in 2029?
The market size of healthcare supply chain management is predicted to experience swift escalation in the coming years, estimated to increase to a value of $5.64 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 12.5%. The predicted growth within the forecast period can be tied to the expansion of telehealth, increased value-based care, higher sustainability, alterations in regulations, and resilience in the supply chain. Key trends during this forecast period will be digitalization and automation, predictive analytics, tracking through IoT and RFID, blockchain for better transparency, and lean and agile supply chain.
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Which is the Largest Company in the Healthcare 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.
What Are the Main Market Drivers in the Healthcare Supply Chain Management Industry?
Continued globalization is projected to drive the future expansion of the healthcare supply chain management market. This term refers to the escalating interconnectedness of the world’s economies, societies, and populations, spurred by international trade in goods and services, technology, and the movement of investments, individuals, and data. Healthcare management has been enhanced by globalization through the augmentation of healthcare awareness and offering affordable healthcare technologies. For example, the International Monetary Fund, a financial institution based in the United States, predicted in April 2024 that the global economy will rise by 3.2 percent during 2024 and 2025, matching the growth rate of 2023. As a result, the burgeoning globalization is fueling the expansion of the healthcare supply chain management market.
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How Is the Healthcare Supply Chain Management Market Segments Structured?
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
What Strategic Trends Are Transforming the Healthcare Supply Chain Management Market?
Prominent businesses in the healthcare supply chain management market are innovating with advanced solutions like cloud-based platforms to increase operational effectiveness, improve real-time data transparency, and simplify procurement, inventory, and logistics procedures within healthcare entities. Digital infrastructures like cloud-based platforms operate on remote servers accessed over the internet instead of local or onsite servers. For instance, in March of 2024, United Parcel Service (UPS) Inc., an American company specializing in shipping, receiving, and supply chain management, introduced UPS Supply Chain Symphony for UPS Healthcare. This cloud-based platform aims to elevate healthcare supply chain management by unifying different logistics aspects into one system. The platform enables users to effectively manage and visualize their warehouse and transportation data, yielding insights that can enhance supply chain functions. Users have the ability to track shipment information from its source to its destination and access on-demand reports containing details about UPS shipments, warehouse status, and inventory levels.
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Which Global Regions Offer the Highest Growth in the Healthcare Supply Chain Management Market?
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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This Report Delivers Insight On:
1. How big is the healthcare supply chain management market, and how is it changing globally?
2. Who are the major companies in the healthcare supply chain management market, and how are they performing?
3. What are the key opportunities and risks in the healthcare supply chain management market right now?
4. Which products or customer segments are growing the most in the healthcare supply chain management market?
5. What factors are helping or slowing down the growth of the healthcare supply chain management market?
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