September 2024 | Report Format: Electronic (PDF)
Digital Healthcare Supply Chain Management Market Growth & Trends
The global digital healthcare supply chain management market size is anticipated to reach USD 5.4 billion by 2030 and it is projected to grow at a CAGR of 9.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. Major factors driving the market growth include adopting the GS1 standard system and UDI, emerging cloud-based solutions, and the growing need to reduce operating costs.
Moreover, the increasing adoption of mobile-based healthcare supply chain management (SCM) solutions contributes to market growth over the forecast period. Mobile apps have become an essential part of SCM solutions. GPS-enabled mobile applications have made supply chain management easier for logistic companies in developed and emerging countries. These apps use mobile devices and sensors to track vehicles, providing better visibility of the entire SCM. For example, Curvo, a sourcing technology application for implants and physician preference items, is designed to enhance supply chain efficiency. The app eliminates manual work by automatically sourcing work from connected vendors, and e-sourcing project management.
The COVID-19 pandemic positively impacted the market growth. The healthcare industry faced substantial shifts and obstacles during the crisis. The pandemic fueled the adoption of telehealth services, as digital supply chain systems played a vital part in facilitating the distribution of virtual healthcare solutions, including telemedicine equipment and remote monitoring devices. Additionally, the importance of data-driven decision-making increased significantly. Key companies in the market integrated advanced analytics to predict demand, improve inventory management, and enhance distribution efficiency.
Moreover, key players in the market, such as Mckesson Corporation, Oracle. SAP and Mediceo Corporation, among others, are engaging in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position. For instance, in October 2022, Oracle introduced Oracle Cloud SCM, a healthcare industry specific supply chain solution. The Oracle Cloud SCM assists clinics and hospitals to plan more effectively, manage responsive supply chains, and improve the quality of care.
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Digital Healthcare Supply Chain Management Market Report
Digital Healthcare Supply Chain Management Market Report Highlights
- Based on products, the software segment dominated the market in 2023 and is expected to witness the fastest CAGR of 9.3% over the forecast period owing to the increasing adoption of software as a service, which offers cloud computing applications for supply chain management and enterprise resource planning
- Based on deployment, the cloud-based segment held the market with the largest revenue share of 40.43% in 2023, and is anticipated to grow at the fastest-CAGR over the forecast period, owing to the increasing adoption of user-friendly technology and cost-effectiveness
- Based on end-use, the pharmaceutical segment held the market with the largest revenue share of 36.24% in 2023, driven by the need to comply with strict product tracking and tracing regulations throughout the supply chain
- North America dominated the market with a revenue share of 32.87% in 2023, owing to the need for enhanced digital supply chain efficiencies and the adoption of technological advances facilitating overall cost reduction
Digital Healthcare Supply Chain Management Market Segmentation
Grand View Research has segmented the global digital healthcare supply chain management market report based on product, deployment, end-use, and region.
Digital Healthcare Supply Chain Management Product Outlook (Revenue, USD Million, 2018–2030)
- Software
- Hardware
- Services
Digital Healthcare Supply Chain Management Deployment Outlook (Revenue, USD Million, 2018–2030)
- On-premise
- Cloud-based
- Web-based
Digital Healthcare Supply Chain Management End-use Outlook (Revenue, USD Million, 2018–2030)
- Pharmaceuticals
- Medical devices
- Biotechnology and Vaccines
- Clinical and Point of Care Diagnostics
Digital Healthcare Supply Chain Management Regional Outlook (Revenue, USD Million, 2018–2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Norway
- Denmark
- Sweden
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players of Digital Healthcare Supply Chain Management Market
- Palantir Technologies, Inc.
- InterSystems Corporation
- ump Technologies, Inc.
- Tecsys
- LogiTag Systems
- Mckesson Corporation
- Oracle
- SAP
- Infor
- Terso Solutions
- CenTrak (HALMA plc)
- Biolog-ID
- Mediceo Corporation
