The global digital healthcare supply chain management market was valued at approximately USD 2.9 billion in 2023 and is projected to experience a compound annual growth rate (CAGR) of 9.0% from 2024 to 2030. This anticipated growth can be largely attributed to several key factors, including increased investments in advanced technologies such as control towers and digital twin technology. Additionally, there is a growing adoption of dashboards aimed at enhancing analytics, execution, and overall visibility within the supply chain. Government initiatives designed to improve the medical supply chain further support this upward trend. Furthermore, the rise of cloud-based solutions, alongside a heightened demand for combating large-scale drug counterfeiting within the pharmaceutical sector, is expected 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 by integrating cloud-based solutions, which have become increasingly vital for manufacturers and healthcare providers. These entities are increasingly prioritizing cloud-based software as it enables them to enhance supplier quality and optimize inventory management. For example, Jump Technologies provides a cloud-based software solution known as JumpStock, which seamlessly integrates with enterprise resource planning (ERP), electronic medical record (EMR), and scheduling systems. This integration allows hospitals to reduce costs associated with variations in physician preferences, supply hoarding, and stockouts. Moreover, cloud-based traceability and tracking capabilities protect manufacturers from the unpredictable costs associated with product recalls by facilitating the early identification of product quality issues.

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Product Segmentation Insights

In 2023, the software segment emerged as the leader in the market, capturing the largest revenue share of 39.8%. This segment is projected to experience the fastest compound annual growth rate (CAGR) of 9.3% during the forecast period. The overall market is categorized into three segments: software, hardware, and services. The growth of the software segment is primarily fueled by the increasing adoption of software as a service (SaaS), which delivers cloud computing applications tailored for supply chain management and enterprise resource planning.

Additionally, there is a rising demand for effective management of organizational workflows within healthcare companies, as well as an increasing necessity for the accurate and timely procurement of information. These factors are significant contributors to the segment's growth.

The demand for reducing escalating medical costs, along with the transition toward value-based care in developed economies, is further enhancing the momentum of this segment. Additionally, various initiatives launched by both public and private organizations aimed at bolstering healthcare IT infrastructure are also propelling segment growth within healthcare organizations.

For instance, Premier, Inc. has introduced an innovative cloud-based SaaS solution called PremierConnect Supply Chain. This solution is specifically designed to streamline and optimize the procurement process for health systems throughout the continuum of care. It offers a comprehensive suite of features, including flexible, real-time procure-to-pay and supply chain analytics capabilities, making it a vital tool for improving operational efficiency in healthcare settings.

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