Healthcare Supply Chain Management market projected to reach USD 9.72 billion by 2032
From GlobeNewswire: 2024-12-17 08:29:00
The global Healthcare Supply Chain Management Market was valued at USD 2.76 billion in 2023 and is projected to grow at a CAGR of 15.04% from 2024 to 2032, reaching an estimated value of USD 9.72 billion. Demand for streamlined processes and cost-effective solutions is driving this growth.
Healthcare supply chain management is vital for efficient operations, ensuring the procurement, storage, and distribution of medical supplies. Adoption of advanced technologies like cloud-based systems and AI analytics is on the rise to enhance visibility and reduce inefficiencies amidst rising cost pressures.
Integrated systems are being adopted by healthcare organizations to boost overall efficiency, with real-time tracking and predictive analytics driving market expansion. Technological innovations providing operational visibility and collaboration are expected to fuel significant growth in the healthcare supply chain management market.
In 2023, the Software segment led the market, with cloud-based software witnessing the fastest growth. Cloud technologies offer scalability and cost-efficiency, propelling their adoption in healthcare supply chain management. On-premise delivery mode dominated, offering control and security, while cloud-based delivery mode is growing rapidly.
The North American region dominated the market in 2023, with the U.S. benefiting from high healthcare spending and advanced infrastructure. The Asia Pacific region is expected to experience the fastest growth, driven by increasing healthcare spending and technological advancements. Europe is also growing steadily with a rising demand for digitalized healthcare solutions.
Recent developments include Blue Ocean Corporation’s Global Healthcare Supply Chain Training Program for India’s sector transformation and the formation of Inspirity Health Partners through a joint venture focusing on supply chain management solutions. Clarium secures $10.5 million funding from General Catalyst in August 2024 and introduces Astra OS, an AI-based platform to enhance healthcare supply chain management. The focus is on improving efficiency and financial alignment for independent healthcare organizations.
The Healthcare Supply Chain Management Market Analysis & Outlook Report 2024-2032 is available for purchase, providing insights on market dynamics, competitive landscape, regional analysis, and more. SNS Insider offers comprehensive research and consulting services to help clients make informed decisions in a constantly changing environment.
Read more at GlobeNewswire: Healthcare Supply Chain Management Market Size to Hit USD