Manufacturing Execution System Providers in Healthcare Market
Every year, the healthcare industry generates a massive amount of data. In fact, healthcare data currently constitutes around 30% share of the global data volume. Further, it is estimated that, by 2025, the data generated via the healthcare sector will rise at a compound annual growth rate of 36%. However, it is important to consider that the constant management of such enormous volumes of data is a quite tedious process and challenging process.
Specifically, management and handling of huge datasets in the healthcare industry often requires a large workforce of specialised personnel. According to the American Hospital Association, by 2026, there is likely to be a shortage of 3.2 million healthcare workers. The continuously growing data, coupled to the projected deficit of healthcare workers, would inadvertently generate pressure on healthcare manufacturers to adopt novel tools / technologies that can improve management efficiency and better utilise the available, expensive resources.
Moreover, increasing complexity of healthcare manufacturing operations, along with growing stringency and frequent changes in regulatory requirements has created a dire need for adoption of automated solutions, such as manufacturing execution systems (MES).
manufacturing Execution System providers are actively collaborating with various stakeholders across the Globe
During our research, we came across several partnerships and collaborations that have been inked between various stakeholders engaged in providing manufacturing execution systems. Out of all the partnerships, technology integration agreement has emerged as the most popular (XX%) type of partnership signed by players engaged in providing manufacturing execution systems.
The industry has also witnessed seven instances of acquisitions in the given time period. This trend reflects the fact that companies are continuously striving to expand their existing service offerings. It is worth highlighting that the stakeholders in this industry are increasingly establishing long term strategic collaborations to better align their service offerings with the current market demand.
manufacturing execution system in order to enhance its efficacy
Value creation framework includes an insightful depiction for implementation of several advanced tools and technologies at different production steps, such as performance analysis, data storage, document control and process tracking which can assist providers to address unmet needs associated in this domain. Additionally, it provides a detailed analysis on ease of implementation, associated risk and value creation in integrating such tools / technologies, based on the trends highlighted in published literature and patents.
The value creation framework includes four key tools and technologies that can assist MES providers to enhance their portfolio, based on several relevant parameters. These are as follows:
- Artificial Intelligence
- Cloud Computing
- Internet of Things (IoT)
- Machine Learning
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