(Health-NewsWire.Net, March 17, 2020 ) The key factors driving the growth of this 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.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.5% during the forecast period, the global Healthcare Supply Chain Management market is estimated to reach USD 3.52 billion by the end of 2027.
“By component, the software segment is expected to account for the largest share of the market in 2017”
On the basis of component, 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.
“By delivery mode, the on-premise segment is expected to account for the largest share of the market in 2017”
On the basis of delivery mode, 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.
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Geographical growth scenario of Healthcare Supply Chain Management Market
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.
Leading market players
The prominent players in the Healthcare Supply Chain Management market include SAP (Germany), Oracle (US), Infor (US), GHX (US), McKesson (US), TECSYS (Canada), Manhattan Associates (US), JDA software (US), Jump Technologies (US), and LogiTag (Israel).
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Mr. Sanjay Gupta