The global digital healthcare supply chain management market was valued at around USD 2.9 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2030. This expected growth is primarily driven by several key factors, including increased investments in advanced technologies like control towers and digital twin technology. Additionally, there is a rising adoption of dashboards designed to enhance analytics, execution, and overall visibility within the supply chain. Government initiatives aimed at improving the medical supply chain further bolster this upward trend. Moreover, the emergence of cloud-based solutions, along with a heightened need to combat large-scale drug counterfeiting in the pharmaceutical sector, is anticipated to significantly drive market expansion throughout the forecast period.
The global shift toward cloud computing has fundamentally transformed the healthcare industry. The supply chain management (SCM) software sector has evolved to integrate cloud-based solutions, which have become increasingly essential for manufacturers and healthcare providers. These entities are increasingly prioritizing cloud-based software because it allows them to enhance supplier quality and optimize inventory management. For instance, Jump Technologies offers a cloud-based software solution called JumpStock, which integrates seamlessly with enterprise resource planning (ERP), electronic medical record (EMR), and scheduling systems. This integration helps hospitals reduce costs related to variations in physician preferences, supply hoarding, and stockouts. Additionally, cloud-based traceability and tracking capabilities safeguard manufacturers against the unpredictable costs associated with product recalls by enabling early detection of product quality issues.
Gather more insights about the market drivers, restrains and growth of the Digital Healthcare Supply Chain Management Market
Deployment Segmentation Insights
In terms of deployment, the cloud-based segment accounted for the largest revenue share at 40.43% in 2023 and is expected to grow at the fastest CAGR of 9.3% during the forecast period. The market is divided into on-premises, cloud-based, and web-based solutions. This growth is attributed to the increasing adoption of user-friendly technology and its cost-effectiveness. Furthermore, the rising demand among healthcare providers for maintaining inventory and procurement information through cloud computing is likely to further drive this segment.
Additionally, growing awareness of the benefits of adopting cloud technology is expected to propel market growth. Advantages of cloud solutions include the use of external web servers, remote access and authorization, information sharing across different stages of the value chain, and prompt detection of security threats and lapses. Furthermore, these solutions reduce the need for physical infrastructure, thereby lowering the required investment, as cloud-based services are typically offered in a pay-as-you-go model.
Optimization of supply chains for the timely delivery of healthcare products, services, and treatments has been revolutionized by AI-based solutions, which provide actionable insights that enhance visibility, service quality, and customer experience. Logistics management platforms assist pharmaceutical companies in facilitating immediate deliveries seamlessly, thereby improving logistics efficiency through automation and digitization. This capability became especially critical during the peak of the COVID-19 pandemic when consumers relied heavily on e-commerce and online retailers for essential products.
Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian