Global Healthcare Supply Chain Management Industry

Market Overview

Increasing needs to improve operational efficiency and business profitability and decrease operational costs, primarily by manufacturers and healthcare providers are expected to support the growth of the healthcare supply chain management market. The emergence of mobile-based and cloud-based solutions across the global healthcare industry is also expected to stimulate the healthcare supply chain management market growth. Furthermore, advancements in machine learning, Big Data analytics, and the advent of social media is further expected to significantly drive the market. The rapid rise in the adoption of GS1 principles and unique device identification (UDI) for medical diagnostics devices is foreseen to stimulate the market.

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GS1 standards authorize globally unique identification and enable cross-border compatibility of such advanced solutions. Global standards have considerably improved supply chain efficiency and patient safety and effectiveness in the healthcare sector. Implementation of global standards, including barcodes, has supported in withstanding against counterfeit medicines. Authentication, serialization, and traceability can easily catch unauthorized serial numbers and duplications. Cloud-based healthcare supply chain management software and their applications are transforming the healthcare industry. Demand for cloud-based healthcare supply chain management solutions is increasing gradually due to the rising focus of healthcare device manufacturers and providers on attaining higher supplier quality and improved inventory optimization.

Cloud-based traceability and tracking solutions protect healthcare device manufacturers from uncertain expenses of a product recall by timely identification of product quality issues. These solutions also improve and streamline production planning and order management across all warehouse locations. Rising adoption of software solutions such as SaaS, which offers advanced next-generation cloud computing applications, are among the primary factors supporting the growth of the healthcare supply chain management market. Also, the growing necessity for proper management of organizational workflows in the healthcare sector and shift in preference to the value-based care services in developed countries is again expected to drive the market growth.

The report covers a detailed competitive outlook that includes the market share and company profiles of key players operating in the global market. Key players profiled in the report include Oracle corporation, Advocate healthcare, Gesinger health system, SAP AG Group and few to be named.

Market Segmentation

The Global Healthcare Supply Chain Management Market can be analyzed on the basis of the following segments-

Based on product types, healthcare supply chain management market can be segmented into-

Standard Product

• High Volume
• Contribution Margin and Quality.

Based on the time span, the global healthcare supply chain management market can be segmented into-

• Lead Time
• Buying Behavior
• Delivery Frequency

Based on end-users, the global healthcare supply chain management market can be segmented into-

• Healthcare Center
• Chemist’s
• Diagnostic Center
• Physicians

Based on internal and external factors, the healthcare supply chain management market can be segmented into-

• Measurement
• Collaboration
• Alignment 
• Agility

The healthcare supply chain management system can be classified into software, hardware, and services. The hardware segment can be further classified into Barcodes and RFID Tags. Based on the mode of delivery, healthcare supply chain management systems can be classified into on-premise, cloud-based, and web-based solutions. 

Regional Analysis

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the major regions driving the growth of the healthcare supply chain management market. North America is the prominent market for healthcare supply chain management system. Compulsory implementation of Unique Device Identification and GS1 standards on medical devices and pharmaceutical drugs, coupled with the existence of large manufacturing enterprises, are among the primary factors strengthening the growth of the North American healthcare supply chain management market. Further, constantly expanding IT and healthcare infrastructure and rising demand for cloud computing is expected to contribute considerably to market growth in the North American region. The United States is a lucrative market in North America and is expected to offer potential opportunities to regional and international vendors. 

Industry News

Jump Technologies, a leading software vendor, has recently developed an advanced cloud-based software solution called JumpStock that effectively integrates with ERP, EMR, and other potential scheduling systems, thereby enabling healthcare organizations to reduce costs associated with physician preference variances, supply hoardings, and stock-outs. This development has helped Jump Technologies to extend its product and service portfolio.

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