Market outlook of the healthcare SCM market
The global healthcare SCM market to grow steadily at a CAGR of 10% over the next four years. The need to improve traceability in the healthcare SCM system is the primary growth driver for this market. Healthcare SCM helps organizations with labor optimization, financial management, and smooth flow of information throughout the entire supply chain.
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Over the years, many SCM software solutions have been developed by the leading players in this market in a bid to reduce errors related to procurement of healthcare devices. Ongoing efforts to implement GS1 standards as a tool to improve healthcare SCM systems will further augment the adoption of SCM in the healthcare sector during the forecast period.
Segmentation and analysis of the healthcare SCM market
• Supply chain planning
• Warehouse management system
The supply chain planning segment dominated the market in 2015 with a market share of close to 80%. Supply chain planning solutions provide real-time information about the shipment of the products, which enhances traceability.
Geographical segmentation and analysis of the healthcare SCM market
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The Americas accounted for approximately 55% of the market share in 2015. The growth of the healthcare SCM market in the region can be attributed to the healthcare reforms implemented by different countries such as the Affordable Care Act in the US, which is also known as ObamaCare. The need to enhance supply-chain systems in the Americas is primarily driven by risk management and compliance issues.
Competitive landscape and key vendors
Competition among the vendors in the global healthcare SCM market is fierce because of the presence of numerous player. The role of IT in healthcare services is becoming important and vendors are consistently investing in developing new products and services for healthcare SCM. Firms are also adopting market consolidation strategies to expand their business globally.
The leading vendors analyzed in this report are:
• Cardinal Health
Other prominent vendors in the market include Airclic, Binary Stream, Epicor, Genco, GHX, Infor, JDA Software, Manhattan Associates, Mayo Clinic, Microsoft, Owens & Minor, ROi, Solstice Medical, SAP, TECSYS, and UPS.
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