Healthcare Supply Chain Management Market – Overview
The inevitable automation of the healthcare supply chain has brought about momentous changes in the delivery of care in the healthcare domain. Market reports connected with the healthcare industry have been made accessible by Market Research Future who publishes reports on other sectors that have been currently published along with a report on this industry. The global healthcare cold chain logistics market is expected to cross USD 22,024.66 million by 2027 at a 7.89% CAGR.
The complete automation and optimization of the Healthcare cold chain logistics market is anticipated to increase the market’s progress in the upcoming year. Factors such as expanding the organizational size and environmental uncertainty are expected to add impetus to the market growth.
The segmentation of the market is carried out on the basis of models, functions, delivery mode, technology, software and end users. By models, the market has been segmented into build-to-order, make-to-stock model, chain assembly, continuous replenishment model, and others. By functions, the market has been segmented into inventory management and procurement, forecasting and planning, warehousing and distribution, internal logistics and operations, reverse and extended logistics and others. By delivery mode, the market is divided into web-based and on-premise. By software, the market has been segmented into planning tools and execution tools. By technology, the market has been segmented into radio frequency identification (RFID), barcode, internet of things and big data, global positioning system (GPS) among others. By end users, the market is segmented into pharmaceutical and biotech companies, healthcare providers, logistics companies and distributors and others.
Detailed Regional Analysis
The U.S. is responsible for the biggest market portion due to quicker adoption of technology, increased buying power, the existence of global players and concerns over the cost of healthcare. The European region led by U.K., Germany, and France is responsible for the next major market. However, the market is projected to move in favor of developing regions in the Asia Pacific controlled by Japan, China, and India. The Middle East and Africa region are estimated to be tipped in favor of the Gulf countries such as UAE and Saudi Arabia.
The gaps in the Healthcare cold chain logistics market trends are filled due to the execution of proper supply chain strategies. The important success factors and players’ predilections are consistently growing by the strategies being used by market contenders. The enhancement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. Besides, the introduction of new products and services will add additional impetus to the market progress. The development of the market is based on the drivers that are radically altering the market backdrop. The growth patterns are modified in tandem with the customer preferences to achieve maximum growth, and in the long run, profitability. The situation for growth plans has stimulated the market for potential new entrants.
The significant competitors profiled in the report are JDA Software, SAP, GHX, Omnicell, Manhattan Associates, OnProcess Technology, McKesson, Parts Source, Spend Vu, Oracle, Vizient, Inc., VUEMED, Sterling Healthcare Logistics, TECSYS, among others.
May 2018 The largest non-profit health system in the US, Ascension, recently announced the launch of a global healthcare supply chain joint venture with Sydney, Australia-based Ramsay Health Care Limited. The joint venture will add Ramsay Health Care’s purchasing power to that of the St. Louis-based Catholic health system, which manages over 2,600 care sites.
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