Healthcare Supply Chain Management Market to Grow at 15.0% CAGR over 2023 to 2030; Tecsys Rolled out Elite Healthcare Receiving Application to Offer Superior Services

The global healthcare supply chain management market size stood at USD 2.61 billion in 2022. The market value is slated to rise from USD 2.99 billion in 2023 to USD 7.96 billion by 2030 at a CAGR of 15.0% during 2023-2030. The market expansion is being driven by increasing investment in research and development activities by key players. Besides, companies are also focused on the launch of new products owing to their adoption in an array of applications.

Fortune Business Insights™ presents this information in its report titled “Healthcare Supply Chain Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Hardware, and Services), By Delivery Mode (On-premise and Cloud-based), By End-user (Healthcare Providers, Healthcare Manufacturers, and Others), and Regional Forecast, 2023-2030”.

Supply Chain Disruptions Restrained Industry Expansion during Coronavirus Pandemic

The pandemic affected the transportation of raw materials and finished goods. This had a considerable effect on the supply chain across various sectors. The lack of resilience in the supply chain operations of numerous healthcare settings further impacted industry expansion considering the spike in demand for medical services. These factors affected industry expansion amid the pandemic period.

Tecsys Launched Elite Healthcare Receiving to Provide Efficient Services

In October 2022, Tecsys Inc. announced the rollout of Elite Healthcare Receiving. The hospital receiving application offers a seamless integration of the receiving and delivery processes into the supply chain operations of a health system.

The solution enabled coordinated distribution for the easy management of items in all locations throughout the hospital through a single point of entry. Furthermore, the solution eliminates the use of multiple processes, systems, and tools, offering a complete custody tracking chain.

Market Value to Rise Due to Growing Adoption of Cloud-based Solutions

Recent years have recorded a greater inclination toward the adoption of cloud-based solutions. These systems offer various advantages such as the reduction of operating costs and capital expenses. This is set to drive the global market growth.

However, the implementation of these solutions leads to high costs, which may hinder industry expansion to a considerable extent.  

Leading Companies Adopt Various Strategies to Strengthen Industry Foothold

Major industry players devise and launch numerous healthcare supply chain management solutions for strengthening their footings in the market. Some of these steps comprise acquisitions, the formation of alliances, collaborations, and mergers, among others. These steps are being deployed for increasing product reach and enhancing business prospects.

Key Players Profiled:

• Oracle (U.S.)
• Tecsys Inc. (Canada)
• Global Healthcare Exchange, LLC. (U.S.)
• Ascension (U.S.)
• Ochsner Health (U.S.)
• Banner Health (U.S.)
• Henry Schein, Inc. (U.S.)
• McKesson CORPORATION (U.S.)
• Cardinal Health (U.S.)
• Epicor Software Corporation (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/healthcare-supply-chain-management-market-101051

Notable Industry Development

April 2023 – Global Healthcare Exchange inked an agreement for the acquisition of Prodigo Solutions, Inc. The company is focused on simplifying healthcare for improving patient outcomes. The deal would provide integrated product offerings that would allow healthcare providers to decrease supply chain costs, enhance financial control, and enhance contract compliance.

Further Report Findings

• By geography, the market has been studied across North America, Asia Pacific, Europe, and the rest of the world. The North America market accounted for a prominent share in the global market. The healthcare supply chain management market share in the region is set to expand at a remarkable pace over the study period.
• The Asia Pacific market is slated to expand at an appreciable CAGR over the projected period. The rise is propelled by the soaring demand for cloud computing.
• By component, the market is fragmented into software, services, and hardware. The software segment held a key share in the market in 2022 and is expected to register appreciable growth over the projected period. The rise is impelled by the escalating launch of new applications for enhancing the efficiency of supply chain management operations.
• By delivery mode, the market is categorized into on-premise and cloud-based. The cloud-based segment is touted to expand at a substantial CAGR over the analysis period. The surge is driven by the advantage of collaborative information sharing offered by these solutions.

Table of Segmentation