The COVID-19 pandemic is anticipated to impact the global healthcare supply chain management market in an optimistic way. The software system type is expected to be a lucrative segment and is predicted to harvest significant revenue in the global market. The on-premises deliver mode segment is anticipated to dominate the market in terms of revenue generation. Manufacturer end-user is predicted to have rapid growth till 2027. In light of the region, The North America region is anticipated to generate highest revenue in the forecast period.
Due to outbreak of COVID-19 the world is facing an unexpected change and many of the industries are facing tough situations. The COVID-19 outbreak has an optimistic impact on the global healthcare supply chain management market. Healthcare supply chain management includes various process such as obtaining resources, management of supplies, and delivery of goods & services to different providers and patients. Managing supply chain in healthcare is complex procedure and involves fragmented measures. It offers various benefits such as it enhances customer service, reduces operating cost, and enhances financial position.
For instance, supply chain management in healthcare decrease purchasing cost owing to the dependency of retailers on supply chains to deliver expensive products that helps to avoid holding costly inventories in various stores longer than required. Thus it aids to reduce operation cost by cutting purchasing cost, decreasing production cost, and decreases total supply chain cost. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the global healthcare supply chain management market.
According to a new report published by Research Dive, the global healthcare supply chain management market is anticipated to generate revenue of $3.7 billion by the end of the forecast period.
The global healthcare supply chain management market is segmented on the basis of component, delivery mode, end-user, and region. As per our analysts, mounting preference among healthcare industry to reduce operating cost has increased the demand of the global healthcare supply chain management market. However, there are several factors such as hidden costs, drug shortage, and data storage are the factors that are expected to restrain the market growth. For example, providers in healthcare industry are focused mainly on the product cost and shipping cost. However, there are other expenses such as inventory holding cost.
The Software Component Type is expected to observe lucrative growth in the forecast period
Based on the component, the global market is divided into hardware and service. Among these, software component type is anticipated to observe lucrative growth till 2027. Rising number of people purchasing products online and digitalized payment methods has enhanced the demand of the software segment in the global market. In addition, technological advancements such as utilization of AI along with software development are predicted to enhance the development of the software component segment.
The On-Premise Deliver Mode Segment is anticipated to Dominate the Market in terms of Revenue Generation
Based on the delivery mode, the global healthcare supply chain management market is fragmented into on-premise, cloud based, and web-based. Among these, the on-premise delivery mode segment is anticipated to dominate the market in terms of revenue. Healthcare industry prefer on-premise delivery mode that has enhanced the demand of this segment. However, cloud segment is also predicted to rise with healthy CAGR owing to the ability to share data between organizations and it also helps it integrate the data from multiple locations with ease.
Manufacturers End-User type is expected to have Rapid Growth till 2027
Based on the end-user, the global healthcare supply chain management market is divided into healthcare providers, distributors, manufacturers, and logistics. The manufacturers are anticipated to grow with healthy CAGR till 2027. Constant rise in the demand of healthcare products from patients, distributors, and hospitals, and rise in the demand of the manufacturers are anticipated to look forward to adopt the service of supply chain management that helps to fulfill the needs at reduced cost.
Regional Outlook and Major Market Players
The global healthcare supply chain management market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among these, the North America region is the major revenue generator in the forecast period. North America region is concentrating more on the healthcare industry to offer better hospitality to patients owing to the rise in the awareness among quality of healthcare treatment.
There are several players in the global market but major key-players in the global market includes Manhattan Associates, Blue Yonder Group Inc., Cerner, Jump Technologies, Logi Tag Systems, Harris Affinity, Premier, Accurate Info Soft, Hybrent, Arvato Systems, and others.
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