Dublin, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The "Healthcare Supply Chain Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global healthcare supply chain management market is expected to grow from $2.05 billion in 2021 to $2.30 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The healthcare supply chain management market is expected to grow to $3.67 billion in 2026 at a CAGR of 12.4%.
North America will be the largest region in the healthcare supply chain management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare supply chain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Increasing globalisation is expected to propel the growth of the healthcare supply chain management market going forward. Globalization is being used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Globalization improved healthcare management by improving healthcare knowledge and providing low-cost healthcare technologies.For example, the International Monetary Fund, a US-based financial institution, predicts that the global economy will grow by 5.9% in 2021, based on data from the International Monetary Fund.Therefore, increasing globalisation is driving the growth of the healthcare supply chain management market.
Product innovations are a key trend gaining popularity in the healthcare supply chain management market. Major companies operating in the healthcare supply chain management sector are focused on developing new product innovation solutions to strengthen their position.
For instance, in October 2020, Tecsys, a Canada-based healthcare supply chain management software company, launched a new solution portfolio built on the capabilities of the company's existing software and technology by providing value-added solution roadmaps and resources suited for healthcare supply. Further, in January 2021, Oracle, a US-based healthcare supply chain management software company, expanded its Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) with new capabilities to help customers across industries decrease costs, make better planning decisions, and improve customer experience.
In March 2022, Symplr, a US-based leading provider of healthcare operations solutions related to governance, risk evaluation, and compliance, acquired GreenLight Medical for an undisclosed amount. Through this collaboration, symplr intends to build a comprehensive platform using the Greenlight medical software platform, symplr's strong data warehouse, and its Hayes clinical evidence software solution to improve expenditure management as well as crucial financial and clinical results. GreenLight Medical is a US-based provider of health care supply chain management software.