DUBLIN, March 20, 2020 /PRNewswire/ -- The "Global Healthcare Supply Chain Management Market, by Product, by End Use, by Delivery Mode, by Region, Industry Analysis and Forecast, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Healthcare Supply Chain Management Market is expected to reach $3 billion by 2025, rising at a market growth of 7.9% CAGR during the forecast period.
Healthcare is among the world's most prominent and rapidly-growing industries. It includes diverse segments like pharmaceuticals, medical devices, information technology, and services, all of which are developing rapidly. Currently, due to an increased demand from patients around the world for improved facilities and services, the healthcare industry is under tremendous pressure to provide high-quality medical care. But it is also rife with the pervasive challenge of expensive delivery of quality services.
Various factors influence the growth of the market for healthcare supply chain management. Companies that are ascertained to curb rising healthcare costs have been instrumental in driving market growth. In addition to this, the need for a reliable inventory management program has helped the industry grow significantly. Certain factors like better patient care and adherence to government regulations have also fueled market growth.
Nevertheless, factors such as high costs associated with the advanced software and the time it took to implement the software have further restricted the market growth. Such limitations also lead to unjustifiable payback period for small and medium sized businesses.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, Oracle Corporation and SAP SE are some of the forerunners in the Healthcare Supply Chain Management Market. Companies such as Infor, Inc., Jump Technologies, Inc., JDA Software Group, Inc., Tecsys, Inc., Ascension Health, Inc., Henry Schein, Inc., and Manhattan Associates, Inc. are some of the key innovators in Healthcare Supply Chain Management Market.
Recent Strategies Deployed in the Healthcare Supply Chain Management Market
Partnerships, Collaborations, and Agreements
- Feb-2020: JDA Software came into partnership with ProShip, a provider of multi-carrier shipping software. The partnership is expected to help in expanding and accelerating joint opportunities and providing ProShip with the tools and education necessary to engage with JDA in the marketplace. From this, the joint clients will be benefitted from the portfolio of shipping and supply chain management solutions.
- Jan-2020: Tecsys collaborated with Microsoft for enabling intelligent retail by using Microsoft Power BI. It helps to optimize the company's cloud-native retail order management analytics. Power BI is a cloud-based suite of business analytics tools, which empowers consumer good companies and retailers to gain the better insights into their customers, providing on an intelligent supply chain.
- Dec-2019: Ascension signed a distribution agreement with Apex Pharma Marketing Pte Ltd, Singapore and Apex Pharmacy Marketing Sdn Bhd, Malaysia (collectively referred to as Apex). Under this agreement, these companies aim to supply Flexiseq to the Singapore and Malaysian markets. Apex will buy Flexiseq products from Ascension and will distribute and import to the pharmacy market over the period of two years.
- Sep-2019: McKesson teamed up with TrakCel, a software developer for cell and gene therapy supply chain tracking and orchestration systems. Following the collaboration, the companies combined their supply chain tracking and patient access services for enabling way for the industry for the development of next-generation of commercial therapies.
- Sep-2019: Oracle announced collaboration with Trinamix for developing the supply chain management applications. Through this collaboration, Trinamix has been able to connect more businesses for the supply chain management tools offered by Oracle.
- Jun-2019: JDA Software signed partnership with Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment warehouses. The partnership was aimed at accelerating the adoption of innovative warehouse technology solutions offered by both companies and also provides JDA and Locus customers with faster deployments, easier, and fully optimized integrations.
- Mar-2019: Jump Technologies came into partnership with X3 Consulting Group (X3). Under the partnership, the companies aimed at improving the perioperative and supply chain optimization, which delivers a shared-risk model to hospitals.
- Jan-2019: Infor entered into partnership with E3 LLC. The partnership is expected to provide Infor's Healthcare customers access to its enterprise solutions together with specialized professional services. The company plans to provide its solutions in the Middle East & Africa region with the help of E3.
- Jun-2018: Jump Technologies partnered with Texas Hospital Association for helping the Texas Hospitals in saving money and enhancing patient care. The platform of Jump Technologies helps the hospitals in improving the utilization of supplies and bringing visibility to supply chain starting from the loading dock to the point of patient care.
- Jun-2018: Infor announced that CHRISTUS Health, a top ten Catholic Healthcare System in the U.S. and Latin America has selected Infor CloudSuite Healthcare. This CloudSuite Healthcare helps in automating core processes in financial, human capital, and supply chain management. It is expected to also deliver clinical integration that enabled CHRISTUS in delivering greater patient care and satisfaction.
Acquisition & Mergers
- Feb-2019: Tecsys acquired PCSYS A/S, a technology Company. The acquisition expanded the company's portfolio in retail distributed order management software.
- Aug-2018: JDA Software completed the acquisition of Blue Yonder, a provider of artificial intelligence (AI) solutions for retail and supply chain. The acquisition enabled the company in providing end-to-end supply chain solutions with inbuilt AI/ML intelligence.
- Jun-2018: McKesson took over Medical Specialties Distributors, a provider of supply chain, technology services, and biomedical services to healthcare providers. The acquisition enabled the company in expanding its supply chain management business.
- Dec-2019: JDA Software opened a new facility in Hyderabad for expanding its business in India. Through this facility, the company has been focusing towards supply chain transformation for its customers.
Product Launches & Product Expansions
- Sep-2018: Tecsys introduced IDN Readiness Assessment for Supply Chain Transformation tool. This tool guides IDN leadership by a cross-functional view of business and develops a quantifiable measure of the organization's readiness for a consolidated supply chain strategy.
- Feb-2018: Infor released Infor Healthcare Enterprise Analytics, a solution that offers greater insights to the healthcare organizations related to their operation and supports in improving outcomes and reduces costs.
- Tecsys, Inc.
- Jump Technologies, Inc.
- McKesson Corporation
- Infor, Inc. (Koch Industries)
- SAP SE
- Oracle Corporation
- JDA Software Group, Inc.
- Manhattan Associates, Inc.
- Ascension Health, Inc.
- Henry Schein, Inc.
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