Healthcare Supply Chain Management Market Highlights
The Healthcare Supply Chain Management Market is proliferating over the past few years. The burgeoning healthcare sector, increasing prevalence of chronic diseases, and rising pressure to curtail the treatment expenses drive the market. Increasing adoption of advanced digital and automation technologies are impacting the growth of the market. Automation and digitization are prevailing trends impacting the market, a great deal.
Moreover, policy reforms & increasing consumerism in the healthcare industry is accelerating the growth of the healthcare supply chain market, increasing the complexities in the systems. According to Market Research Future (MRFR), the global healthcare supply chain management market is expected to grow exponentially by 2023. In its recently published analysis, MRFR also asserts that the market would register over 8.2% CAGR throughout the forecast period 2018-2023.
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Supply chain leaders are adopting mergers & acquisitions approaches with new suppliers & competitors. By improving their collaborations, equipping their teams with appropriate insights, and eliminating existing system-wide silos, they are transforming the field of the supply chain. Supply chain organizations strive to reduce supply chain waste and expenses, providing access to a range of medical-surgical products to deliver quality customer service.
The supply chain management systems are increasingly helping healthcare organizations to generate more revenue & profit by improving their decision-making power efficiently. As a result, the uptake of these systems is widening, which is escalating the market on the global platform.
Conversely, lack of awareness & technical expertise alongside, the high cost associated with the installation and maintenance of the systems are obstructing the market growth. Nevertheless, factors such as the increasing population, urbanization, along with the improving economic conditions, globally, would support the market growth.
Healthcare Supply Chain Management Market – Segments
The report is segmented into seven market dynamics to widen the scope of understanding,
By Models : Make-To-Stock Model, Build-To-Order, Continuous Replenishment Model, and Chain Assembly, among others.
By Function : Forecasting & Planning, Inventory Management & Procurement, Internal Logistics & Operations, Warehousing & Distribution, and Reverse & Extended logistics, among others.
By Delivery Mode : On-Premise, Web-based, and Cloud
By Software : Planning Tools, Forecasting & Inventory Management, Supplier & Vendor Management, Production & Sales Planning, Execution Tools, Warehouse Management, and Order Processing & Status Tracking, among others.
By Technology : Barcode, Radio Frequency Identification (RFID), and Global Positioning System (GPS), among others.
By End-user : Pharmaceutical & Biotech Companies, Logistics Companies, Distributors, and Healthcare Providers, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Healthcare Supply Chain Management Market – Geographical Analysis
North America leads the global healthcare supply chain management market. The largest share of the market attributes to the presence of several notable players and the infrastructure that allows the development & early uptake of advanced technologies. Besides, the increasing focus of the market players in the region on delivering cost-effective services fosters market growth. North America is further expected to retain its leading position throughout the forecast period.
Europe is another lucratively growing market for healthcare supply chain management, globally. Factors such as the proliferating healthcare sectors and the rising pressure to curtail healthcare costs drive the growth of the regional market. Germany, France, and the UK, backed by the adoption of advanced technologies, increasing purchasing power, and the presence of global players, boost the growth of the market.
The Asia Pacific healthcare supply chain management market is emerging as a promising market. Growing markets in China, Japan, and India, are supporting the growth of the regional market. Also, the rising healthcare expenditures led by the improving economy in the region, impacts the market growth, positively. Additionally, the increasing prevalence of chronic disease pushes the market growth in the region, creating a massive demand for pharmaceutical products & medical devices.
Healthcare Supply Chain Management Market – Competitive Analysis
Highly competitive, the healthcare supply chain management market appears to be well-established with the range of solutions brought in the market by a number of technology providers. To gain a substantially large market share, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch. They invest hugely in R&D to develop unique technologies designed with unique features.
Healthcare Supply Chain Management Market Analyzed By Top Leading Players:
Players leading the global healthcare supply chain management market include Infor (US), SAP (Germany), Oracle (US), TECSYS (Canada), GHX (US), McKesson (US), Jump Technologies (US), Manhattan Associates (US), JDA Software (US), Advocate Health Care (Murray, UT), and LogiTag Systems (Israel), among others.
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September 03, 2019 —- Avista Capital Partners (the US), a leading private equity firm focused on growth-oriented healthcare businesses, announced the acquisition of GCM Holding Corporation (the US), a leading outsourced component manufacturer for the medtech industry. Avista bought GCM from May River Capital, LLC (the US), an investor in lower middle-market industrial growth businesses.
GCM has strong & long-tenured relationships with a number of market-leading OEMs who value its capabilities in highly engineered & critically manufactured precision components. With the acquisition, Avista would be able to provide leading OEMs with unique manufacturing capabilities for critical products executed with superior supply-chain performance. Together, these companies would drive a new chapter of growth for GCM that will continue to benefit their valued customers and others.
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