Global Healthcare Supply Chain Management Market is projected to be around USD 2.37 billion by end of 2023

Sarasota, FL -- (SBWire) -- 01/26/2019 --With the presence of a large pool of participants, the global healthcare supply chain management market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). SAP AG Group, Oracle Corporation, McKesson Corporation, Providence Health & Services, and Geisinger Health System are some of the key vendors of healthcare supply chain management across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the healthcare supply chain management market study.

In a strategic move that can upsurge the growth of Healthcare supply chain management market, in May 2018, Ascension—largest non-profit healthcare system based in the U.S.—declared the launching of a new global healthcare supply chain entity by entering into joint venture agreement with Ramsay Health Care Limited, an Australia-based healthcare service provider.

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As estimated in this report, the global healthcare supply chain management market stood at US$ 1.86 billion in 2017. Witnessing a tremendous rise during the period from 2017 to 2023, the revenue in this market is expected to reach US$ 2.37 billion by the end of the forecast period. The main components available in this healthcare supply chain management market are hardware, software, and services. Among the three, the demand for software is relatively higher and the trend is anticipated to remain so over the next few years, notes the healthcare supply chain management market research report.

Need To Raise Operational Efficiency In Hospitals To Push Market Revenue

"Heavy focus on supply chain management activities witnessed across the healthcare sector for reducing the costs to a greater extent will impel the growth of healthcare supply chain management market in the near future," says the author of this study. Apart from this, hefty need for effectively delivering high-quality healthcare services on time along with the use of software & cloud-based services in healthcare sector will boost the business in the years ahead. In addition, technological breakthroughs witnessed in the process automation and necessity of enhancing operational efficiency in hospitals will further leverage the growth trends of healthcare supply chain management market.

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Government Healthcare Initiatives To Aid North American Dominance

Regionally, North America has been leading the worldwide healthcare supply chain management market and is anticipated to continue on the dominant position in the years to come, states the healthcare supply chain management market study. Hospitals consolidation, regulatory requirements, and rising prevalence of chronic ailments are few of the key factors behind the dominance of the North America healthcare supply chain management market. Growing patient population base in countries such as the U.S. along with implementation of myriad strategies to improve healthcare supply chain management in countries such as Canada is another significant factor that is supporting the growth of this regional healthcare supply chain management market.

In addition to this, favorable government policies and presence of major industry players in North America is another vital factor that is likely to augment the growth of healthcare supply chain management market across the region.

The global healthcare supply chain management market is segmented as follows:

By Component

Hardware
Software
Services
By Deployment

On-Premise
Cloud-Based
By End-User

Manufacturers
Distributors
Healthcare Providers
Others
By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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