Global Healthcare Supply Chain Management Market to Reach $5.2 Billion by 2030: Growing Adoption of Mobile Based Healthcare Supply Chain Management Solutions Drive Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Healthcare Supply Chain Management Market Size, Share & Trends Analysis Report by Product (Software, Hardware, Services), by Mode Of Delivery, by End-use, by Region, and Segment Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global healthcare supply chain management market size is expected to reach USD 5.2 billion by 2030 and is expected to expand at a CAGR of 9.2% from 2022 to 2030.

The major factors contributing to the industry growth are the growing adoption of such platforms by healthcare providers to improve efficiency and enhance operational affordability.

There is a growing demand for RFID systems by medical device manufacturers, pharmaceutical and biopharmaceutical companies, hospitals, and other life sciences companies to control inventory costs in developed countries, which further fuels market growth.

Cloud-based warehouse management systems assist supply chain performance by improving order management and production planning across all warehouse locations.

These cloud-based warehouse management systems generate data sets over time, which, in turn, show patterns, making it possible to forecast shifts in demand. Furthermore, the adoption of cloud-based warehouse management systems by manufacturers to optimize order management and inventory fulfillment has significantly increased their revenue.

Automating pricing and customer approval workflows with a cloud-based application has further reduced order cycle time and helped in improving quality. This has further driven the demand for cloud-based software solutions in the healthcare industry, thus positively impacting market growth.

Key players are also focusing on developing new technologies to help in streamlining the production process. For instance, in March 2019, JDA Software, Inc. and Panasonic Collaboration announced a joint venture. The purpose of the joint venture was to create new solutions for businesses in manufacturing, logistics, and retail fields by combining JDA's comprehensive SaaS software for supply chain management along with Panasonic sensing technologies.

Other factors such as the adoption of GS1 standards and UDI and mobile-based healthcare management solutions also boost the market growth. However, factors such as data privacy and high cost associated with the implementation and maintenance of healthcare supply chain management solutions are likely to restrain the market growth. COVID-19 positively impacted the market growth.

Major organizations are shifting toward digitalized supply chain managing solutions for rebuilding their supply chains and creating transparency and resiliency across their supply chain processes.

Healthcare Supply Chain Management Market Report Highlights

• The demand for cloud-based software is growing due to the focus of manufacturers and providers on achieving higher supplier quality and inventory optimization
• The adoption of cloud-based technology has increased owing to various security breaches on web-based and premise deployment
• North America dominated the overall market in 2021 with a share of over 30.0%. Some of the key factors responsible for the regional growth are the mandatory implementation of GS1 standards and Unique Device Identifiers (UDIs) on pharmaceutical drugs and medical devices

Market Dynamics

Drivers

• Adoption Of Gs1 Standard System And Udi
• Emergence Of Cloud Base Solutions
• Growing Adoption Of Mobile Based Healthcare Supply Chain Management Solutions
• Growing Requirement For Reduction In Operating Costs

Restraints

• Lack Of Data Privacy
• High-Cost Associated With The Implementation And Maintenance Of Healthcare Supply Chain Management Solutions

Industry Challenges

• Provider Preference Item Results In Higher Healthcare Cost Without Better Outcome
• Lack Of Supply Chain Health It Limits Price
• Facing Inventory Problems

Companies Mentioned

• Jump Technologies, Inc.
• Tecsys
• Logi-Tag Systems
• Mckesson Corporation
• Oracle
• Sap
• Infor
• Terso Solutions
• Cen Trak (Halma plc)
• Biolog-Id

For more information about this report visit https://www.researchandmarkets.com/r/e8m1ol

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