Global Healthcare Supply Chain Management Market 2023-2030

Global Healthcare Supply Chain Management Market 2023-2030

Global Healthcare Supply Chain Management Market Size, Share & Trends Analysis Report, by Component (Solution, and Services), by Deployment Model (On-Premises, and Cloud-Based), and by End-User (Healthcare Providers, Healthcare Manufacturers, and Other), Forecast Period (2023-2030)

The global healthcare supply chain management market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period. The increasing pressure faced by healthcare providers to improve operational profitability and efficiency along with the growing adoption of the GS1 system of standards in various countries is a key factor driving the growth of the global healthcare supply chain management market. In March 2023, the World Health Organization (WHO) entered into partnership with the Ministry of Health in Syria to hold a workshop that aims to assess the national medical supply chain. This critical initiative will review essential processes, analyze distribution mechanisms and provide strategic solutions to establish a national logistics management system. The assessment of the national medical supply chain undertaken in the workshop will enhance the health care system in Syria. The growing intervention of organizations like WHO is further promoting the global market growth.

The growing incidences of counterfeit drugs in the healthcare sector has diverted attention of healthcare manufacturers towards the adoption of healthcare supply chain management solutions. According to the Pharmaceutical Security Institute, there were 6,615 pharmaceutical crime incidents reported in CY 2022.

The growing presence of challenges such as, the 2023 Global Health Supply Chain Research Challenge that seeks proposals from individuals or organizations with education or experience in health supply chains and pharmaceutical management is further luring the interest of healthcare providers towards this area. The high cost of implementation of healthcare supply chain management solutions is restraining the market growth. However, the growing funding for healthcare supply chain management startups is anticipated to offer lucrative opportunities for the growth of the global healthcare supply chain management market. For instance, in September 2023, 29 African healthcare supply chain startups receive funding, support from i3 programme.

Segmental Outlook

The global healthcare supply chain management market is segmented based on component, deployment model, and end-user. Based on component, the market is segmented into solution and services. Based on deployment model, the market is segmented into cloud-based and on-premises. Based on end-user, the market is segmented into healthcare providers, healthcare payers, and others.

Software Held Considerable Share in Global Healthcare Supply Chain Management Market

Software held considerable share in the global healthcare supply chain management market based on component. The growing adoption of software such as SaaS that offers next-generation cloud computing applications such as supply chain management enterprise resource planning is a key contributor to the high share of this market segment. The rising need for efficient management of organizational workflows in healthcare organizations and a shift in the trend toward value-based care in developed economies are further promoting the market growth. Moreover, the rising initiatives undertaken by private and public players in support of healthcare IT infrastructure are also contributing to this segmental market growth.

Regional Outlook

The global healthcare supply chain management market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period.

North America Held Considerable Share in the Global Healthcare Supply Chain Management Market

The presence of advanced healthcare IT infrastructure along with the high integration of advanced IT technologies in healthcare supply chain management is a key contributor to the high share of the regional market. The presence of key market players across the region that are continuously working towards the development of advanced healthcare supply chain management solutions and services is further contributing to the regional market growth. For instance, in July 2023, Concordance Healthcare Solutions LLC, one of the largest independent healthcare distributors in the US has launched Surgence, a healthcare supply chain ecosystem that fully connects providers, distributors and suppliers by bringing unprecedented visibility to supply and demand information. Developed in partnership with Palantir Technologies Inc., a builder of operating systems for the modern enterprise, Surgence, powered by Palantir Foundry's cutting-edge technology, aims to optimize the healthcare supply chain, ensuring the seamless flow of critical medical supplies and enhancing patient care.

Market Players Outlook

The major companies serving the global healthcare supply chain management market include SAP AG Group, McKesson Corp., Avery Dennison Corp., Oracle Corp., and Tecsys Inc. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Terso Solutions entered into partnership with PAR Excellence Systems, Inc. (PAR). This partnership demonstrates both companies' commitment to the continued delivery of innovative inventory management solutions within healthcare.

Further, in January 2023, Softeon, a global supply chain software provider added new capabilities to its supply chain execution software solutions for the healthcare and pharma sectors. In addition to these functional and regulatory capabilities, Softeon provides an agile logistics software platform that allows its customers to move rapidly to meet new requirements and opportunities, an increasingly important consideration in the many healthcare-related markets that are seeing dynamic change.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global healthcare supply chain management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.