New York, NY, May 02, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Healthcare Supply Chain Management Market by Component (Hardware, Software and Services), by Deployment (On-Premise and Cloud-Based) and by End Users (Manufacturers, Distributors, Healthcare Providers and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023”. According to the report, the global healthcare supply chain management market was valued at approximately USD 1.86 billion in 2017 and is expected to generate revenue of around USD 2.37 billion by end of 2023, growing at a CAGR of around 4.10% between 2017 and 2023.
The need to lower healthcare cost is a major concern and growth driver for the healthcare supply chain management market. The trend of hospital consolidation in countries such as the U.S. offers new growth opportunities for supply chain management solutions such as inventory management software catered towards hospitals and ambulatory surgery centers. The manufacturers in the healthcare segment are facing intense competition. For instance, China is reported to host an estimated 13,000 medical device manufacturers. The prevalence of a high number of players in countries such as China force the market players to be price conscious which leads them to adopt efficient supply chain management practices enabled by the use of hardware such as RFID, barcodes, and software such as procurement, supplier management, and transportation management software.
Browse through 57 Tables & 21 Figures spread over 110 Pages and in-depth TOC on "Global Healthcare Supply Chain Management Market Size 2017: Industry Share, Segments Analysis, and Forecast, 2023”.
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The healthcare supply chain management market is segmented on the basis of component type into hardware, software, and services. Software segment is held the largest share of the market due to increased adoption of the supply chain management software, and its applications such as customer relationship management and execution of value chain transactions. This segment is expected to register a high CAGR during the forecast period due to the benefits it offers, such as increased efficiency, reduced costs, and business intelligence.
Based on deployment the market is segmented into on-premise and cloud-based. The on-premise segment is expected to hold the largest share of the global healthcare supply chain management market. However, the cloud-based segment is expected to grow at the fastest CAGR owing to several advantages offered by the cloud-based deployment mode over on-premise. Cloud-based solutions are easy to install and maintain than on-premise solutions which contribute to the high growth and popularity of this deployment mode.
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Manufacturers, distributors, healthcare providers and others are the key end-user segments of the global healthcare supply chain management market. The manufacturer's segment is expected to hold the largest share in the global market. However, the provider's segment is expected to grow at the highest CAGR. Growth in this segment is largely attributed to factors such as increasing need for quality patient care, the prevalence of poor inventory management practices, the trend of hospital consolidation leading to the centralization of business processes, and the pressure on healthcare establishments to improve their profitability.
North America and Europe dominate the healthcare supply chain management market due increasing the incidence of chronic diseases coupled with the presence of major market players, and implementation of favorable government initiatives in the region. North America is anticipated to account for the major share of the global market. Moreover, these regional segments are estimated to witness the highest growth during the forecast period, primarily due to the growing chronic disease prevalence, consolidation of hospitals, and rapid increment in a number of conferences in the region.
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The Asia-Pacific and Latin America market are projected to have the highest CAGR during the forecast period. The markets in various developing economies such as Brazil, Russia, Korea, and India are expected to witness a rapid growth throughout the forecast period reasons being rising per capita disposable income and surge in the global economy which is expected to bring impetus in the growth of the market during the forecast period in these regions.
The Middle East and Africa hold the least position in healthcare supply chain management market in comparison to other regions. However, the hospitality sector of this region has been identified as one which will provide the global market many lucrative opportunities in near future. Thus, all the aforementioned parameters are expected to propel the market growth for healthcare supply chain management market globally.
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Some of the key players in the healthcare supply chain management market are SAP AG Group, Oracle Corporation, McKesson Corporation, Providence Health & Services, Geisinger Health System, AmerisourceBergen, Intermountain Healthcare, Advocate Health Care and others.
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This report segments the global healthcare supply chain management market as follows:
Global Healthcare Supply Chain Management Market: Component Type Segment Analysis
- Hardware
- Software
- Services
Global Healthcare Supply Chain Management Market: Deployment Segment Analysis
- On-Premise
- Cloud-Based
Global Healthcare Supply Chain Management Market: End-User Segment Analysis
- Manufacturers
- Distributors
- Healthcare Providers
- Others
Global Healthcare Supply Chain Management Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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