Healthcare supply chain management systems are available as two components, software, and hardware. A software system is highly acceptable compared to hardware systems due to the increasing number of online purchases, improving business intelligence, and growing preference for eco-friendly logistics. This is said to enhance the growth of the healthcare supply chain management market in the forecast period.
Though the on-premise segment holds the largest share in the market, the cloud-based segment is expected to register the highest growth over the forecast period. Cloud-based solutions help healthcare organizations share and integrate information from disparate locations; these solutions also offer minimum costs of installation and maintenance.
Manufacturers must cater to the increasing demand for products from their end-users. Owing to this, manufacturers mainly look for supply chain management solutions for transportation and warehouse management to ensure faster, more accurate, and more efficient functioning.
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This large share can be attributed to factors such as the consolidation of hospitals, rising prevalence of chronic diseases, and growing awareness in the region. On the other hand, the European region is expected to grow at the second-highest CAGR during the forecast period, followed by APAC and later ROW.
Key Market Players
The healthcare supply chain management market is fragmented, with the presence of several large as well as emerging players. In 2019, SAP SE (Germany), Oracle Corporation (US), and Infor (US) were the leading players in the healthcare supply chain management industry. Other players include McKesson Corporation (US), TECSYS (US), Global Healthcare Exchange (US), Cardinal Health (US), Determine (US), Epicor (US), LLamasoft (US), Manhattan Associates (US), Blue Yonder Group, Inc. (JDA Software) (US), Cerner (US), Jump Technologies (US).