Healthcare Supply Chain Management Global Market Report 2022: Growing Relevance of Big Data and Analytics Presents Lucrative Opportunities

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Aug 25, 2022, 09:45 ET

DUBLIN, Aug. 25, 2022 /PRNewswire/ -- The "Healthcare Supply Chain Management - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Healthcare Supply Chain Management Market to Reach $3.6 Billion by 2026
The supply chain for the industry is characterized by unique challenges due to changing patient expectations along with stringent regulations. The idea of supply chain management strives to balance diverse elements associated with the industry, including quality care, affordability and cost structure of providing organizations.

With cost representing a major expense, participants in the industry focus on boosting productivity and reducing costs associated with the supply chain. These factors make healthcare supply chain as a primary focus area to improve efficiency and achieve cost savings. The holistic approach to the industry`s supply chain extends beyond cost savings and pushing productivity to encompass provisioning of enhanced healthcare without delay and in a cost-efficient manner.

These goals underscore the important of healthcare supply chain that can be exploited for capturing actionable data. The supply chain data is a valuable asset and provides insights into product requirements and strategies to stabilize inventory and reduce waste. These data-driven insights go a long way in reducing overall costs. Technology-based, automated supply chain offers relevant data as well as improves efficiency and patient outcomes by allowing enhanced patient care. These requirements are driving future-oriented organizations to elevate the role played by the healthcare supply chain to turn care into an enriching experience.

Amid the COVID-19 crisis, the global market for Healthcare Supply Chain Management estimated at US$2.5 Billion in the year 2022, is projected to reach a revised size of US$3.6 Billion by 2026, growing at a CAGR of 9.9% over the analysis period.

The U.S. Market is Estimated at $1.1 Billion in 2022, While China is Forecast to Reach $192.9 Million by 2026
The Healthcare Supply Chain Management market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$192.9 Million by the year 2026 trailing a CAGR of 9.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.9% CAGR.

On the basis of the lessons learnt from the current COVID-19 crisis, businesses can take several vital steps towards making supply chains more resilient once the crisis is over. One of the major steps would be to reduce the requirement of human workforce across logistics, warehousing, and transportation. This could be achieved through core digital technologies for Industry 4.0, including Internet of Things (IoT), control towers, blockchain, machine learning/artificial intelligence-enabled demand forecasting, rule-based/self-adjusting stock allocations, and autonomous devices, such as drones and automated guided vehicles (AGVs). Factories capable of modularizing production and shifting production lines based on changes in demand are expected to become the new norm in the future.

Hardware Segment Reach $1 Billion by 2026
In the global Hardware segment, USA, Canada, Japan, China and Europe will drive the 10% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$502.9 Million will reach a projected size of US$980.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$48.8 Million by the year 2026, while Latin America will expand at a 8% CAGR through the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

COVID-19 Unfolds the Critical Significance of Automated Healthcare Supply Chain and Need to Diversify Sourcing
COVID-19 Prompts Hospitals to Prioritize Optimization of Supply Chain
Internet of Medical Things (IoMT) Gains Prominence
Blockchain Technology Addresses Healthcare Industry Supply Chain Challenges
Growing Relevance of Big Data and Analytics
Collaboration: An Important Element of the Supply Chain Conundrum
Increasing Popularity of Telehealth Draws Attention
Focus Intensifies on Orchestration
Connected Health to Modernize Healthcare Supply Chain
Healthcare Networks Focus on Supply Chain Management for Cost Reduction and Higher Productivity
Group Purchasing Organizations & E-Procurement Technology Address Challenges within Healthcare Supply Chain Management
Drones to Play Key Role in Healthcare Supply Chains
Healthcare Supply Chain Industry Challenges
Demand for Immediate Overnight Shipping
Efficient Recall Management
Inventory Shortage