The adoption of GS1 system of standard in the healthcare industry globally, the emergence of cloud-based solutions, reduction in operational costs by improving the efficacy and increase in overall profitability. However, the high cost of implementation of supply chain management software is expected to restrict market growth to a certain extent.
A software system is highly acceptable compared to hardware systems due to the increasing number of online purchases, improving business intelligence, and growing preference for eco-friendly logistics.
In 2020, Infor acquired Intelligent InSite.
In 2019, Oracle launched Intelligent Track and Trace, a blockchain application
In 2019, SAP SE partnered with Microsoft Corporation, to improve consumer adoption of SAP Cloud Platform and SAP S/4 HANA on Microsoft Azure.
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The healthcare supply chain management market is segmented into North America, Europe, the APAC, and the RoW. Of this, North America accounted for the largest share of the healthcare supply chain management industry in 2019. North America is a well-established and lucrative market for healthcare supply chain management. In this regional market, the US is expected to offer potential growth opportunities to market players in the coming years.
Key Market Players
The healthcare supply chain management market is fragmented, with the presence of several large as well as emerging players. In 2019, SAP SE (Germany), Oracle Corporation (US), and Infor (US) were the leading players in the healthcare supply chain management industry. Other players include McKesson Corporation (US), TECSYS (US), Global Healthcare Exchange (US), Cardinal Health (US), Determine (US), Epicor (US), LLamasoft (US), Manhattan Associates (US).