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In December 2018, Cardinal Health launched a supply chain automation solution in order to deal with challenges in healthcare processes and operations. Healthcare supply chain management comprises timely procurement, transport and delivery of healthcare resources from one geographical location to another.
In order to effectively manage the healthcare supply chain, sharing of information within components such as patients, stakeholders, insurance companies, hospitals, and regulatory services is crucially important. The gradual shift of patient preferences from traditional care to quality and state-of-the-art care along with cost control is the prime essence of healthcare supply chain management. Certain emerging trends such as the utilization of data analytics, big data, and others in the healthcare supply chain are expected to play a crucial role to achieve quality care in affordable costs.
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Rising prevalence of chronic diseases, a growing number of patients, an aging population and growing emphasis on supply chain cost optimization in the healthcare sector are prominently expected to drive the growth of the global healthcare supply chain management market. Combined with this, certain benefits served by healthcare supply chain such as a reduction in overheads, minimal inventory management costs, simplified ordering and billing process, maximum profitability and optimization of overall turnover time are expected to boost the growth of the global healthcare supply chain management market during the forecast period.
However, inadequate integration of information systems in the healthcare sector, lack of network infrastructure in emerging nations and higher implementation costs due to hidden costs in the supply chain are restraining factors for the growth of the global healthcare supply chain management market. Additionally, the slower adoption rate due to the reluctance of healthcare institutions is also projected to hamper the growth of the global healthcare supply chain management market by 2026.
Some of the major companies that are present in the global healthcare supply chain management market are McKesson Corporation, SAP, Intermountain Healthcare, Walgreens Boots Alliance, Inc., AmerisourceBergen Corporation, Owens & Minor, Inc., United Parcel Service of America, Inc., Henry Schein, Inc., Cardinal Health, Oracle, and others.
· On-premise Based
By End User
· Medical Devices Manufacturers
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the segmentation, cloud-based deployment is expected to register faster growth due to higher adoption of cloud-based deployment, as it offers cost efficiency and additional operational benefits.
North America is expected to dominate the global healthcare supply chain management market due to rise in prevalence of chronic diseases, rising geriatric population, the growing emphasis on cost optimization in healthcare spending and ability of supply chain management to elevate financial outcomes. Moreover, integration of information system and supply chain management service providers is playing a vital role in the technical advancement of the supply chain such as real-time tracking and demand forecasting offers the higher opportunity for growth of the global healthcare supply chain management market. The Asia Pacific and Middle East & Africa also hold enormous potential for growth of the global supply chain management market owing to the growing number of patients, aging population and rising prevalence of chronic diseases.