The global healthcare supply chain management market will grow at a CAGR of 8.4% over the next five years.

A new report for Markets And Markets expects revenue to reach $2.3bn by 2022, up from $1.55bn in 2017.

The growth will be driven by increased pressure on healthcare providers to improve operational efficiency & profitability; the adoption of the GS1 System of standards in the healthcare industry globally; implementation of the unique device identification initiative by the FDA in the US; emergence of cloud-based solutions; continuous financial support in the form of funding, investments, and partnerships; and the growing efforts to reduce the large-scale counterfeiting of drugs are driving the growth of the market.

For the purposes of the forecast, the market is segmented into on-premise and cloud-based delivery modes. In 2017, the on-premise segment is expected to have commanded the largest share of the global Healthcare Supply Chain Management Market. The large share of this segment can be attributed to its ease of use and the low risk of data breaches.

North America is expected to account for the largest share of the global market over the forecast period, attributed to factors such as consolidation of hospitals, regulatory requirements, increasing patient burden in the US, and the implementation of various strategies to improve healthcare supply chain management in Canada.

The prominent players in the global market include SAP (Germany), Oracle (US), Infor (US), GHX (US), McKesson (US), TECSYS (Canada), Manhattan Associates (US), JDA software (US), Jump Technologies (US) and LogiTag (Israel).