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.
The on-premise segment accounts for the largest share of the healthcare supply chain management market. However, 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. Such advantages are driving market growth in this segment.
The large share of this segment can be attributed to the increasing number of online purchases, improving business intelligence, and growing preference for eco-friendly logistics.
The key factors driving the growth of this market include the adoption of GS1 system of standard in the healthcare industry globally, the emergence of cloud-based solutions, reduction in operational costs by improving the efficacy and increase in overall profitability.
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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.
Manufacturers must cater to the increasing demand for products from their end-users. North America is a well-established and lucrative market for healthcare supply chain management. In this regional market, the US is expected to offer potential growth opportunities to market players in the coming years.
SAP SE (Germany), Oracle Corporation (US), and Infor (US) were the leading players in the healthcare supply chain management market. 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), LogiTag Systems (US), Harris Affinity (US), Premier (US), Accurate Info Soft (US), Hybrent (US), and Arvato Systems (Germany).