The healthcare supply chain management market is projected to reach USD 2.31 billion by 2022 from an estimated USD 1.41 billion in 2016, growing at a CAGR of 8.4% during the forecast period.
The key factors driving the growth of Healthcare Supply Chain Management market include the increased pressure on healthcare providers to improve operational efficiency & profitability, the adoption of the GS1 System of standards in the healthcare industry globally; implementation of the unique device identification initiative by the FDA; emergence of cloud-based solutions; continuous financial support in the form of funding, investments, and partnerships; and the growing efforts to reduce the large-scale counterfeiting of drugs are driving the growth of the market.
The healthcare supply chain management market is segmented into software, and hardware. In 2017, the software segment is estimated to account for the largest share of the healthcare supply chain management market. The large share of the software segment is attributed the various benefits it offers such as increased efficiency, reduced costs, and business.
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The market is segmented into on-premise and cloud-based delivery modes. In 2017, on-premise segment is expected to command the largest share of the global healthcare supply chain management market. The large share of this segment can be attributed to its ease of use and the low risk of data breaches.
North America is expected to account for the largest share of the global healthcare supply chain management market in 2017. The large share of North America can be attributed to factors such as consolidation of hospitals, regulatory requirements, increasing patient burden in the US, and the implementation of various strategies to improve healthcare supply chain management in Canada.
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SAP (Germany), Oracle (US), Infor (US), GHX (US), McKesson (US), TECSYS (Canada), Manhattan Associates (US), JDA software (US), Jump Technologies (US), and LogiTag (Israel) are the prominent players in the global healthcare supply chain management market.