Global Healthcare Supply Chain Management Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Software, Hardware, and Services), By Mode of Delivery (On-Premises, Cloud-Based, and Web-Based), By End User (Healthcare Providers, Healthcare Manufacturers, Distributors, Logistics Companies, and Others), and Region Forecast 2019-2030

The healthcare supply chain management market size was valued at US$ 2,849.3 million in 2023 and is anticipated to grow at a CAGR of 15.9% from 2024-2030. Healthcare supply chain management involves a comprehensive set of processes and collaborative efforts to ensure the efficient transportation and delivery of medicines, medical tools, and essential supplies required by healthcare professionals in their daily tasks. Beyond logistics, this discipline also serves the purpose of identifying weaknesses within healthcare departments and proactively implementing solutions to optimize global health investments, ultimately working towards improved healthcare outcomes.

The rapidly growing healthcare industry is a significant driver behind the increasing revenues in the market. As the healthcare sector expands, driven by factors like an aging population, the rising prevalence of chronic diseases, and heightened global health concerns, the demand for efficient supply chain management becomes paramount. Healthcare supply chain management ensures the timely and cost-effective delivery of critical medical supplies, pharmaceuticals, and equipment to healthcare facilities, ultimately impacting patient care and safety. With a continually increasing need for a well-coordinated and optimized supply chain, healthcare organizations are investing in advanced supply chain solutions to manage inventory, reduce costs, and enhance the overall efficiency of their operations. Moreover, technological advancements are instrumental in propelling the growth of the market. The integration of cutting-edge technologies such as blockchain, Internet of Things (IoT), artificial intelligence (AI), and advanced data analytics revolutionizes supply chain operations. These innovations offer real-time visibility into inventory, enhance demand forecasting accuracy, and improve logistics efficiency. For instance, blockchain ensures the transparency and traceability of pharmaceuticals and medical devices, reducing the risk of counterfeits.

However, the high implementation cost of healthcare supply chain management systems, including software, hardware, and training stands as a potential restraint to market growth. Meanwhile, the globalization of pharmaceutical and medical device manufacturing can create significant opportunities for the growth of the market over the forecasted years. The key players in the market are further contributing to the development of the market by announcing launches, collaborations, and acquisitions. For example, in November 2022, Cardinal Health introduced Velocare, a supply chain network and last-mile fulfillment solution designed to deliver essential products and services needed for hospital-level care at home to patients within one to two hours.

Key Developments

• In October 2022, Tecsys Inc. launched its end-to-end healthcare supply chain execution software, Elite Healthcare Receiving which is a hospital receiving application that seamlessly integrates receiving and delivery processes into a health system’s supply chain operations.
• In March 2022, symplr acquired medical supply chain-management software company GreenLight Medical to expand its product portfolio.