The global healthcare supply chain management market is projected to grow at a CAGR of 11.9% through 2034, reaching a size of USD 8.8 billion by the end of the forecast period. The market was valued at USD 2.5 billion in 2023. Healthcare organizations are increasingly adopting cutting-edge technologies and tools to enhance their services and operations. Key supply chain management solutions are becoming more important in integrating end-to-end operations and improving efficiency.
Organizations are using advanced software and practices such as e-procurement software and supply chain planning systems to streamline procurement, manufacturing, storage, and transportation processes. Cloud-based solutions are expected to gain traction in the industry, reducing capital expenses and improving accuracy in decision-making. The adoption of such practices is driving the growth of the healthcare supply chain management market.
The market is segmented based on components, applications, delivery modes, end-users, and regions. The software category, especially inventory management software, is gaining importance due to its ability to automate key aspects of the supply chain. In terms of applications, forecasting and planning are expected to generate the highest revenue. Healthcare providers are likely to be the primary end-users of such software.
North America is expected to lead the global healthcare supply chain management market due to its technological infrastructure, while Europe is innovating in the competitive space. Small-scale healthcare businesses in Asia-Pacific are focusing on enhancing supply chain efficiency to increase profits. Key players in the market include Oracle Corporation, SAP SE, Infor, McKesson Corporation, Tecsys, GHX, and others.
In conclusion, the global healthcare supply chain management market is growing rapidly, driven by the adoption of advanced technologies and practices by healthcare organizations. The market is expected to continue expanding in the coming years, with key players investing in AI, cloud computing, and strategic acquisitions to strengthen their market position.