The Global Healthcare Supply Chain Management Market was analyzed by Market Research Future (MRFR) and it was projected that a noteworthy CAGR of 8.2% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the healthcare supply chain management market was further stated to surpass its previous valuation by the end of 2023.
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Reducing healthcare costs has become one of the primary agendas for hospitals and clinics. Healthcare organizations are under constant pressure to deliver better services but at a price that is accessible by most. Therefore, it is important to adopt and implement technologies that can aid care givers reach their targets both in term of revenue and service quality. Today, payers have become more conscious about quality and cost performance. While some organizations continue to reassess the billing and services portion to find budgeting solutions, others are shifting towards evaluating their healthcare supply chain. Supply chain accounts for a significant percentage of the overall operating cost in healthcare. Identifying the loopholes and terminating the unnecessary pauses in medical supply chain can make a massive difference to the bottom-line. However, managing healthcare supply chain can be a cumbersome task given its fragmented nature. This is where healthcare supply chain management becomes crucial for organizations. Healthcare supply-chain management involves, planning, designing, execution, control and tracking the flow of good and services. This allows creating greater net value, synchronizing supply with demand, reach sustainability with competitive logistic force and to measure performance. According to a study conducted by Market Research Future (MRFR), the global market for healthcare supply chain management will witness healthy growth over the next couple of years.
Hospital and clinics are quickly realizing the importance of promoting efficiency in the healthcare supply as it can create significant cost-reducing opportunities. In addition, the healthcare sector continues transform, facing new challenges and opportunities. Factors as such are driving the demand for solutions that can serve the currently and future needs of organisations. The outcome of integration of data analytic platforms and connecting technologies in healthcare systems has been extremely positive and more ground breaking results expected in the future.
Latest Industry Highlights:
JDA Software has recently announced of collaboration with MIT to excel research in intelligent supply chains. The multiyear collaboration will focus on making progress in machine learning, consumer behavior modelling and optimization.
Reportedly, Vizient has signed an agreement with independent health systems based in Missouri, Texas and Arkansas. This will allow all the parties to utilize strategically source, improve performance and better manage clinical service as well as develop a robust supply chain analytics.
Global Market for Health Supply Chain Management – Segmental Analysis
By models, the market has been segmented into Build-To-Order, Chain Assembly, Make-To-Stock Model, Continuous Replenishment Model and Others. By functions, the market has been segmented into Internal Logistics and opertation, Reverse and Extended logistics, Forecasting and Planning, Warehousing and Distribution, Inventory Management and Procurement and others. By delivery mode, the market has been segmented into Web based and On-Premise. By software, the market is segmented into Forecasting and Inventory Management, Production and Sales Planning, Supplier and Vendor Management, Planning Tools and others. By execution tools the market in segmented into Status Tracking, Order Processing, Warehouse Management and others. By technology, the market is segmented into Radio Frequency Identification (RFID), Internet of Things, Barcode, Big Data, Global Positioning System (GPS) and others. By end users, the market is segmented into Healthcare Providers, Logistics Companies and Distributors, Pharmaceutical and Biotech Companies and others.
The U.S. commands for a significant share of the market and is likely to remain highly attractive throughout the assessment period. Meanwhile, the U.K. France and Germany will remain the key markets for healthcare supply chain management in Europe. The market in Asia Pacific will find market growth opportunities in countries such as China, India and Japan.
Global Market for Health Supply Chain Management – Competitive Analysis
Key companies operating in the market include JDA Software, Omnicell, McKesson, Spend Vu, Oracle, Manhattan Associates, SAP, GHX, OnProcess Technology, Parts Source, Sterling Healthcare Logistics, Vizient, Inc., VUEMED, and TECSYS.
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