Global Healthcare Supply Chain Management Market - Segmented by Component, Mode of Delivery, End User, and Geography - Growth, Trends, and Forecast (2022 - 2030)
The global Healthcare Supply Chain Management market is expected to witness a CAGR of 8% over the forecast period of 2018-2023. Healthcare Supply Chain Management is inclusive of all the activities that are related with the manufacturing, storage and transportation of the healthcare products. These healthcare products include medical devices, pharmaceutical products and other services along with healthcare IT.
Increasing Efforts of Healthcare Providers to Reduce Cost and Improve the Quality of Supply Chain
Healthcare, being one of the fastest growing industries, is facing the challenge of increased costs of services. The costs associated with the supply chain management are due to the rising provision of the quality in healthcare supply chain. To maintain the better quality, the manufacturers have become imperative to the high cost.
Presently, the hospitals are looking forward for the sources of competitive advantage and cost reduction. In these efforts, it has become compulsive to focus on the supply chain management which will improvise the patient care and provide quality services with affordable costs. In the new era of technology, companies are adopting various methods of reducing cost of supply chain in healthcare. Some of the steps taken by companies include, automation of the manual processes during manufacturing, reduction of the waste which is formed during the creation of products, and establishing trading relationship among the suppliers, partners and customers.
The above-mentioned steps taken by the manufactures are helping in the improvement of the quality of supply chain as well as in the reduction of cost. Suppliers are continuously focusing on balancing the cost without compromising in quality. For instance, some suppliers are enabling the automation among regional care networks. The supply chain automation tools are serving the hospitals (care networks) for the sake of data visibility, improvement in the efficiency and cost savings.
Along with the above-mentioned driver, rising demand of the quality inventory management system is another factor which is fueling the growth of healthcare supply chain management market.
Cost of Implementation of Supply Chain Management Software
In spite of the increased efforts of healthcare providers and manufacturers to fight with the higher costs associated with supply chain management, there is a long way to go to achieve the satisfactory level of cost reduction. Developed nations such as United States are successfully implementing the novel technologies in the supply chain management but emerging economies are still fighting with the challenge of cost associated with the supply chain management software’s. Manufacturers are looking forward to provide better quality of supply chain. The software’s used to monitor the process are expensive which is restricting the providers from using these software’s, therefore acting as a major restraint for the healthcare supply chain management market.
North America Holds the Largest Share in the Healthcare Supply Chain Management Market
North America accounts for the largest share of the market studied. This can be primarily attributed to higher adoptability of the latest technologies that are coming into the market and presence of the key players in the country. These factors are expected to augment the growth of the market studied over the forecast period.
Key Developments in the Market
• Mar 2017: Drug distributor McKesson's technology business has officially merged with Change Healthcare, a revenue cycle and analytics firm.
Major Players - ADVOCATE HEALTH CARE, AMERISOURCEBERGEN, GEISINGER HEALTH SYSTEM, INTERMOUNTAIN HEALTHCARE, MCKESSON CORPORATION, ORACLE CORPORATION, PROVIDENCE HEALTH & SERVICES AND SAP AG GROUP among others.
Reasons to Purchase the Report
• Current and future global Healthcare Supply Chain Management Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Increasing Efforts of Healthcare Providers to Reduce Cost and Improve the Quality of Supply Chain
Healthcare, being one of the fastest growing industries, is facing the challenge of increased costs of services. The costs associated with the supply chain management are due to the rising provision of the quality in healthcare supply chain. To maintain the better quality, the manufacturers have become imperative to the high cost.
Presently, the hospitals are looking forward for the sources of competitive advantage and cost reduction. In these efforts, it has become compulsive to focus on the supply chain management which will improvise the patient care and provide quality services with affordable costs. In the new era of technology, companies are adopting various methods of reducing cost of supply chain in healthcare. Some of the steps taken by companies include, automation of the manual processes during manufacturing, reduction of the waste which is formed during the creation of products, and establishing trading relationship among the suppliers, partners and customers.
The above-mentioned steps taken by the manufactures are helping in the improvement of the quality of supply chain as well as in the reduction of cost. Suppliers are continuously focusing on balancing the cost without compromising in quality. For instance, some suppliers are enabling the automation among regional care networks. The supply chain automation tools are serving the hospitals (care networks) for the sake of data visibility, improvement in the efficiency and cost savings.
Along with the above-mentioned driver, rising demand of the quality inventory management system is another factor which is fueling the growth of healthcare supply chain management market.
Cost of Implementation of Supply Chain Management Software
In spite of the increased efforts of healthcare providers and manufacturers to fight with the higher costs associated with supply chain management, there is a long way to go to achieve the satisfactory level of cost reduction. Developed nations such as United States are successfully implementing the novel technologies in the supply chain management but emerging economies are still fighting with the challenge of cost associated with the supply chain management software’s. Manufacturers are looking forward to provide better quality of supply chain. The software’s used to monitor the process are expensive which is restricting the providers from using these software’s, therefore acting as a major restraint for the healthcare supply chain management market.
North America Holds the Largest Share in the Healthcare Supply Chain Management Market
North America accounts for the largest share of the market studied. This can be primarily attributed to higher adoptability of the latest technologies that are coming into the market and presence of the key players in the country. These factors are expected to augment the growth of the market studied over the forecast period.
Key Developments in the Market
• Mar 2017: Drug distributor McKesson's technology business has officially merged with Change Healthcare, a revenue cycle and analytics firm.
Major Players - ADVOCATE HEALTH CARE, AMERISOURCEBERGEN, GEISINGER HEALTH SYSTEM, INTERMOUNTAIN HEALTHCARE, MCKESSON CORPORATION, ORACLE CORPORATION, PROVIDENCE HEALTH & SERVICES AND SAP AG GROUP among others.
Reasons to Purchase the Report
• Current and future global Healthcare Supply Chain Management Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Frequently Asked Questions
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