Healthcare Supply Chain Management Market to Grow with a CAGR of 5.25% through 2029

Rising focus on cost containment and regulatory compliance and traceability are factors driving the Global Healthcare Supply Chain Management Market in the forecast period 2025-2029

 

According to TechSci Research report, “Healthcare Supply Chain Management Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Healthcare Supply Chain Management Market stood at USD 2.52 billion in 2023 and is anticipated to grow with a CAGR of 5.25% in the forecast period, 2025-2029. The global healthcare industry is undergoing significant changes, and one of the key drivers of this transformation is the evolution of supply chain management (SCM) within the sector. As healthcare organizations aim to improve efficiency, cut costs, and enhance patient outcomes, there is a surging demand for advanced healthcare SCM solutions. In a climate of rising healthcare expenses, providers and organizations face ongoing pressure to optimize operations and reduce expenditures. Inefficient supply chains can significantly contribute to cost escalations. Consequently, there is increasing emphasis on implementing robust SCM systems to streamline processes, minimize waste, and negotiate favorable terms with suppliers. For healthcare organizations striving to control costs while maintaining high standards of patient care, the adoption of SCM solutions is essential.

 

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The healthcare sector is subject to stringent regulations and compliance standards aimed at ensuring patient safety and data security. Healthcare supply chain management solutions play a crucial role in helping organizations comply with these regulations by providing end-to-end visibility and traceability of the entire supply chain. The need for adherence to regulatory requirements, such as the Drug Supply Chain Security Act (DSCSA) in the United States and the Falsified Medicines Directive (FMD) in Europe, is a significant driver for the adoption of SCM technologies. Rapid advancements in technology, including the Internet of Things (IoT), blockchain, and artificial intelligence, have revolutionized healthcare supply chain management. These technologies enable real-time monitoring of inventory, enhance data accuracy, and improve overall visibility into the supply chain. Integration of these advanced technologies empowers healthcare organizations to make informed decisions, mitigate risks, and respond promptly to disruptions, thereby fostering the adoption of advanced SCM solutions.

The healthcare ecosystem is becoming increasingly complex, with multiple stakeholders, including manufacturers, distributors, healthcare providers, and pharmacies. Managing the supply chain across this intricate network requires sophisticated solutions that can facilitate seamless communication and collaboration. Healthcare supply chain management systems serve as a unifying force, providing a transparent and efficient framework for all participants in the healthcare value chain.

The Global Healthcare Supply Chain Management Market is segmented into product, mode of delivery, end user and company.

Based on end user, the healthcare manufacturers segment has emerged as the predominant market leader. Healthcare manufacturers operate in a highly regulated environment with strict quality control measures. Adherence to regulatory standards is non-negotiable in this industry. As a result, manufacturers are increasingly turning to supply chain management solutions to ensure compliance, track materials, and manage documentation seamlessly. Healthcare manufacturers face the constant challenge of balancing quality with cost efficiency. Supply chain management solutions enable manufacturers to optimize inventory levels, reduce waste, and enhance overall operational efficiency. By streamlining processes, manufacturers can achieve cost savings without compromising on product quality.

Based on region, North America segment is expected to grow during the forecast period.  North America fosters a culture of collaboration and integration among stakeholders in the healthcare supply chain. Seamless coordination between manufacturers, distributors, healthcare providers, and regulatory bodies is crucial for the smooth functioning of the supply chain. North American companies have excelled in establishing integrated systems that facilitate real-time communication and responsiveness.

 

Major companies operating in Global Healthcare Supply Chain Management Market are:

• Jump Technologies, Inc.
• SAP SE
• Oracle Corporation
• McKesson Corporation
• TECSYS Inc.
• Global Healthcare Exchange
• Cardinal Health Inc.
• Epicor Software Corporation
• LLamasoft Inc.
• Manhattan Associates
• Blue Yonder Group, Inc. (JDA Software)
• Cerner Corporation
• Jump Technologies
• LogiTag Systems Ltd.

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“The Global Healthcare Supply Chain Management Market is witnessing robust growth, driven by a confluence of factors such as the imperative to contain costs, regulatory compliance requirements, technological advancements, the complexity of the healthcare ecosystem, and the growing focus on patient-centric care. As healthcare organizations continue to recognize the pivotal role of efficient supply chain management in achieving their strategic objectives, the market for healthcare SCM solutions is poised for sustained expansion in the coming years. Investing in innovative technologies and embracing a holistic approach to supply chain management will be crucial for organizations seeking to navigate the dynamic landscape of the global healthcare industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Healthcare Supply Chain Management Market By Product (Software, Hardware(Barcodes, RFID Tags), Services), By Mode of Delivery (On-premise, Cloud-based, Web-based), By End user (Healthcare Manufacturers, Healthcare Providers, Distributors, Logistics), By Region, By Competition Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of Global Healthcare Supply Chain Management Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Healthcare Supply Chain Management Market.

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