The healthcare supply chain management market is expected to reach USD 5.06 billion by 2030 from USD 3.71 billion in 2024, at a CAGR of 5.3% during forecast period from 2024 to 2030. The rise of AI, cloud solutions, and automation drives demand for optimized supply chains.
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Generative AI is reshaping healthcare supply chain management by offering more accurate, data-driven insights that enable faster and more informed decision-making. Many companies are in charge of using generative AI in supply chain management, solving various challenges while shaping the industry’s future. There are now solutions like IBM Sterling Order and Fulfilment Suite, Manhattan Active Allocation, and Blue Yonder’s Luminate Platform that use AI to manage the supply chain effectively and efficiently.
The global healthcare supply chain management market is segmented into software type, hardware, and services, by offering. The software type segment accounted for the largest share in 2023. The large share of the segment is witnessed due to the growing adoption of advanced software solutions that optimize inventory management, enhance forecasting, and improve decision-making capabilities. These software tools, such as AI-powered platforms, cloud-based systems, and integrated business planning solutions enable the timely access of data, automation of processes, and increase the efficiency of supply chain activities, hence stimulating the demand for these solutions among healthcare organizations. The adoption of supply chain management software also helps improve customer service and communication, enhances decision-making, and minimizes logistical errors in healthcare organizations.
The healthcare supply chain management market is divided into purchasing and inventory management by function. The purchasing management segment is expected to demonstrate the highest growth rate during the forecast period. This growth is driven by healthcare organizations’ need to streamline their procurement processes. Purchasing decisions directly impact a business’s inventory control and management of accurate inventory stock levels to reduce holding costs and ensure inventory levels are replenished promptly. Hence, purchasing management solutions help businesses control expenses, manage vendors more easily, gain visibility into the supply chain, and streamline the purchasing management process.
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The key players operating in the supply chain management market for healthcare include Oracle (US), SAP SE (Germany), Infor (US), IBM (US), Mckesson Corporation (US), Tecsys Inc. (Canada), Global Healthcare Exchange, LLC. (US), Cardinal Health. (US), Corcentric, Inc. (US), Epicor Software Corporation (US), Coupa. (US), Manhattan Associates (US), Blue Yonder Group, Inc. (US), LogiTag Systems (US), Premier (US), Workday, Inc. (US), Medsphere Systems Corporation (US), Arvato Systems (Germany), and AmerisourceBergen Corporation. (US). These companies have adopted organic & inorganic strategies such as product launches, product updates, expansions, partnerships, collaborations, acquisitions, among others to strengthen their market presence in the healthcare supply chain mangement market.
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