Healthcare Supply Chain Management Market To Report Impressive Growth, Revenue To Surge To USD 8,309.20 Million by 2032

In 2023, the healthcare supply chain management market was valued at approximately USD 2984.37 million. By 2032, analysts anticipate that this market will have grown to around USD 8,309.20 million, a compound annual growth rate (CAGR) of about 12.05% from 2024 to 2032.

With the presence of a large pool of participants, the global healthcare supply chain management market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). SAP AG Group, Oracle Corporation, McKesson Corporation, Providence Health & Services, and Geisinger Health System are some of the key vendors of healthcare supply chain management across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the healthcare supply chain management market study.

In a strategic move that can upsurge the growth of Healthcare supply chain management market, in 2023, Ascension—largest non-profit healthcare system based in the U.S.—declared the launching of a new global healthcare supply chain entity by entering into  joint venture agreement with Ramsay Health Care Limited, an Australia-based healthcare service provider.

Browse the full "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), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032" report at https://www.zionmarketresearch.com/report/healthcare-supply-chain-management-market

As estimated in this report, the global healthcare supply chain management market stood at USD 2984.37 million in 2023. Witnessing a tremendous rise during the period from 2024 to 2032, the revenue in this market is expected to reach USD 8,309.20 million by the end of the forecast period. The main components available in this healthcare supply chain management market are hardware, software, and services. Among the three, the demand for software is relatively higher and the trend is anticipated to remain so over the next few years, notes the healthcare supply chain management market research report.

Need To Raise Operational Efficiency In Hospitals To Push Market Revenue

“Heavy focus on supply chain management activities witnessed across the healthcare sector for reducing the costs to a greater extent will impel the growth of healthcare supply chain management market in the near future,” says the author of this study. Apart from this, hefty need for effectively delivering high-quality healthcare services on time along with the use of software & cloud-based services in healthcare sector will boost the business in the years ahead. In addition, technological breakthroughs witnessed in the process automation and necessity of enhancing operational efficiency in hospitals will further leverage the growth trends of healthcare supply chain management market.

Government Healthcare Initiatives To Aid North American Dominance

Regionally, North America has been leading the worldwide healthcare supply chain management market and is anticipated to continue on the dominant position in the years to come, states the healthcare supply chain management market study. Hospitals consolidation, regulatory requirements, and rising prevalence of chronic ailments are few of the key factors behind the dominance of the North America healthcare supply chain management market. Growing patient population base in countries such as the U.S. along with implementation of myriad strategies to improve healthcare supply chain management in countries such as Canada is another significant factor that is supporting the growth of this regional healthcare supply chain management market.

In addition to this, favorable government policies and presence of major industry players in North America is another vital factor that is likely to augment the growth of healthcare supply chain management market across the region.

The global healthcare supply chain management market is segmented as follows:

By Component

• Hardware
• Software
• Services

 By Deployment

• On-Premise
• Cloud-Based

By End-User

• Manufacturers
• Distributors
• Healthcare Providers
• Others

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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