Healthcare Supply Chain Management Market Trends Estimates High Demand by 2022
Increasing pressure faced by healthcare providers to improve operational efficiency and profitability, emergence of cloud-based solutions, adoption of the GS1 system of standards in various countries, and growing focus to curb the large-scale counterfeiting of drugs in the pharmaceutical industry are driving the growth of this market. Healthcare supply chain management is the vital practice of developing efficient supply chain methods to achieve operational efficiency and traceability while reducing operating costs without compromising quality.
The global 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.
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“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.
• In 2016, the SAP enhanced its SAP Integrated Business Planning 6.1, this enabled the SAP to enhance its customer service in the demand and supply platform.
• In 2016, Oracle Corporation expanded its Oracle Cloud Services with the addition of new services like Oracle CX Cloud, Oracle SCM, ERP, and EPM Cloud to provide supply chain management, enterprise resource planning, and enterprise performance management solutions.
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