Selbyville, Delaware, May 16, 2023 (GLOBE NEWSWIRE) —
Healthcare Supply Chain Management Market size will cross USD 10.5 billion by 2032, according to a new research report by Global Market Insights Inc.
The growing adoption of the GS1 system of standards is a key driver behind market growth. The GS1 system offers a standard language for recording, identifying, and transmitting product information throughout the supply chain. It helps track and trace medical supplies from manufacturer to patient accurately and efficiently. Additionally, it helps improve efficiency as well as patient safety while minimizing costs for healthcare organizations, which is contributing to its adoption.
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Increasing product innovations to drive demand for hardware offerings
Healthcare SCM industry from hardware segment will grow at over 11.5% CAGR from 2023 to 2032. Devices such as barcode scanners, RFID tags, and others have gained popularity in healthcare SCM processes. RFIDs make use of radio waves for identifying and monitoring medical supplies for reducing the risk of stockouts. Likewise, barcode scanners help streamline inventory management processes and minimize errors. Growing efforts by industry players toward introducing advanced hardware capabilities for healthcare supply chain management are favoring segment value.
On-premise healthcare SCM systems gain prominence due to high security
Healthcare supply chain management market share from the on-premise segment was over 44% in 2022. As the on-premise healthcare SCM system stores data locally making it inaccessible over the internet, the solution demonstrates high security than its cloud-based counterpart. It helps maintain the confidentiality of sensitive healthcare information and prevent data breaches. This deployment mode is commonly used by small and medium scale businesses through their in-house data centers.
Browse key industry insights spread across 160 pages with 258 market data tables & 18 figures & charts from the report,, “Healthcare Supply Chain Management Market Size By Offering (Software and Services, Hardware (RFID Tags, Barcode Scanners)), By Deployment (On-Premises, Cloud-Based) By End-use, Market Share & Forecast, 2023-2032” In detail along with the table of contents:
https://www.gminsights.com/industry-analysis/healthcare-supply-chain-management-market
Healthcare providers emerge as key end-users of healthcare SCM
Healthcare SCM market size from healthcare providers segment will reach over USD 3.8 billion by 2032. The growing usage of cloud computing in hospitals for achieving efficiency in financial, procurement, clinical, administration, and other aspects is supporting segment progression. Many healthcare providers in developed economies are making huge investments for integrating high-end capabilities of cloud-enabled systems. Moreover, industry gains can also be credited to surging demand for automated services in the healthcare space.
Asia Pacific to emerge as a major revenue hub for healthcare SCM market
Asia Pacific healthcare supply chain management market share will grow at more than 13% CAGR from 2023 to 2032. Rapid expansion of the healthcare sector with the incorporation of IT infrastructure is supporting regional progress. As per the IBEF, in the Indian Union Budget 2023-24, the government awarded around USD 10.76 billion to the Ministry of Health and Family Welfare. Moreover, the robust presence of many exporters of medical equipment in countries such as Japan, India, and China is further contributing to regional industry expansion.
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Healthcare Supply Chain Management Industry Players
Jump Technologies, Henry Schein Inc., Ochsner Health, Epicor Software Corporation, Ascension, Blue Yonder Group, LogiTag Systems, and McKesson Corporation, among others.
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About Global Market Insights
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.