Health care is one of the notable, rapidly growing industries globally. It includes various segments such as medical devices, pharmaceuticals, information technology, and services, all of which are developing at a fast pace. Today, the health care industry is under immense pressure to deliver high-quality medical care owing to an increasing demand for better facilities and services from patients around the world. But it is also rife with the omnipresent threat of increasingly expensive delivery of quality services. Although constant efforts are being taken by health care providers to reduce costs by eliminating waste and improving their operations, often the chief aspect of supply chain, which is responsible for an estimated one-third of all the operating costs, is missed out. The health care supply chain involves three main groups: producers (manufacturing companies), purchasers (wholesalers and distributors), and providers (hospitals, pharmacies, and clinics). Currently, the supply chain is facing major problems in terms of delivering services on time, because the fact that every part of it works independently, and not as a collective system, creates a misaligned network. This has led to a gamut of solutions to automate and streamline the process, increase savings, and reduce costs. The inclusion of e-commerce solutions leads to the elimination of error-prone manual processes from the supply chain, resulting in increased profits with reduced process costs.

The global health care supply chain management market is segmented on the basis of component, delivery mode, and end-users. In terms of component, its divisions include software and hardware. The former accounted for a major share in the global market in 2015, due to increased adoption of the supply chain management software, and rising applications such as customer relationship management and execution of value chain transactions. This segment is expected to register a prominently high CAGR during the forecast period.

In terms of delivery mode, the cloud-based management segment held a significant share in the global health care supply chain management market in 2015. By end-user, this market includes manufacturers, distributors, and providers, of which the manufacturers dominated the global market in 2015. However, the providers segment, which includes hospitals and other service providers, is anticipated to reflect a higher CAGR during the forecast period.

The global market is driven by factors such as a growing focus on supply chain management by the health care industry to effectively reduce costs, rising efforts to deliver high-quality services on time, increasing penetration and adoption of various components such as software and cloud-based solutions, and technological advancements in and automation of the processes.

On the basis of geography, the market is distributed over five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the dominant region in 2015 owing to the presence of top pharmaceutical companies here, along with the multiple government initiatives, and increased implementation of technologically advanced solutions.

Some of the key players in the global healthcare supply chain management market include Oracle Corporation, SAP SE, Infor Inc., McKesson Corporation, Global Healthcare Exchange (GHX), TECSYS Inc., LogiTag Systems Ltd., and Jump Technologies, Inc. The strategies espoused by these companies in order to gain a stronghold in the global market include mergers & acquisitions, geographical expansion into new, untapped, and potential markets, and new product launches.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Health Care Supply Chain Management Market

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