What are the Historical Developments and Current Growth Metrics of the Digital Healthcare Supply Chain Management Market?
The digital healthcare supply chain management market has seen considerable growth due to a variety of factors.
• In recent times, there has been substantial growth in the market size of digital healthcare supply chain management. Estimated at $3.51 billion in 2024, the market is projected to reach $3.95 billion in 2025, expanding at a compound annual growth rate (CAGR) of 12.5%.
The notable growth observed in the past is largely due to factors such as the heightened demand for transparency, growing consciousness of environmental impact, escalated demand for inventory optimization, heightened concern for data protection, and an increased importance placed on patient feedback.
What is the Forecasted Market Size and CAGR for the Digital Healthcare Supply Chain Management Market?
The digital healthcare supply chain management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of digital healthcare supply chain management is projected to see swift expansion in the upcoming years, reaching $6.27 billion in 2029 with a compound annual growth rate (CAGR) of 12.3%.
The projected growth during the forecast period can be linked to factors such as the broadening of healthcare markets, the growth of telehealth, the transition to value-based care, partnerships with technology startups, and the surge in e-commerce. Key trends in the forecast period include sophisticated forecasting tools, mechanized inventory control systems, remote monitoring solutions, the application of artificial intelligence in demand sensing, and intelligent warehousing solutions.
What Are The Core Factors Supporting Growth In Digital Healthcare Supply Chain Management Market?
The upsurge in cloud computing adoption is anticipated to drive the digital healthcare supply chain management market's growth. Essentially, cloud computing is the provision of computing services over the internet, such as servers, databases, storage, software, networking, and analytics. The growing utilization of cloud computing can be attributed to factors like scalability, cost-efficiency, flexibility, enhanced collaboration, and the convenience of accessing resources and applications from any location with internet connectivity. Digital healthcare supply chain management leverages cloud computing to facilitate data sharing, upgrade inventory tracking, and provide real-time analytics, resulting in improved operations and better patient outcomes. For example, data from Eurostat, a Luxembourg-based intergovernmental organization, revealed that in December 2023, about 42.5% of EU enterprises adopted cloud computing, primarily to host email systems and store files electronically. This marked a 4.2% increase since 2021. Hence, the escalating use of cloud computing is fueling the growth of the digital healthcare supply chain management market.
What Are The Principal Market Segments In The Global Digital Healthcare Supply Chain Management Healthcare Industry?
The digital healthcare supply chain management market covered in this report is segmented –
1) By Product: Software, Hardware, Services
2) By Deployment: On-Premise, Cloud-Based, Web-Based
3) By End-User: Pharmaceuticals, Medical Devices, Biotechnology And Vaccines, Clinical And Point Of Care Diagnostics
Subsegments:
1) By Software: Supply Chain Planning Software, Inventory Management Systems, Transportation Management Systems, Order Management Systems, Analytics And Reporting Software, Others
2) By Hardware: RFID Systems, Barcode Scanners, IoT-Enabled Devices, Storage And Networking Devices, Others
3) By Services: Implementation And Integration Services, Training And Support Services, Consulting Services, Managed Services, Others
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Which Emerging Market Trends Are Altering The Digital Healthcare Supply Chain Management
Key businesses within the digital healthcare supply chain management market are striving to democratize access to advanced digital tools through a less technically demanding environment, such as a no-code network digitalization platform, to increase productivity and versatility of supply chain operations. A no-code network digitalization platform is a software that permits users to form, adjust, and control digital procedures and processes without the need for conventional coding abilities. As an example, in September 2024, TraceLink, a software firm based in the US, introduced the Opus platform, an essential progression in supply chain management intended to streamline the digitalization of comprehensive supply networks. It provides exceptional features like a no-code design ambience that enables users to put in place intricate supply chain processes without comprehensive technical knowledge, immediate insight into supply chain performance via integrated reports and interfaces, and shared intelligence functions that bolster collaborative decision making across various enterprises to anticipate and evade supply chain disturbances.
Who Are the Key Players in the Digital Healthcare Supply Chain Management Market?
Major companies operating in the digital healthcare supply chain management market are include:
• McKesson Corporation
• Cardinal Health Inc.
• International Business Machines (IBM) Corporation
• Oracle Corporation
• SAP SE
• Siemens Healthineers AG
• Medline Industries Inc.
• Infosys Limited
• Henry Schein Inc.
• Avery Dennison Corporation
• Vizient Inc.
• Infor LLC
• Veeva Systems Inc.
• Palantir Technologies Inc.
• Epicor Software Corporation
• InterSystems Corporation
• West Monroe Partners LLC
• Global Healthcare Exchange LLC
• Tecsys Inc.
• Rishabh Software Pvt Ltd.
• SYMPLR Inc.
• Terso Solutions Inc.
• KareXpert Technologies Pvt Ltd.
• Mika-Health Inc.
• Jump Technologies Inc.
What are the Regional Insights into the Digital Healthcare Supply Chain Management Market?
North America was the largest region in the digital healthcare supply chain management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital healthcare supply chain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
