Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Healthcare Inventory Management Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
This report on the global healthcare inventory management market reveals an expected surge with a projected CAGR of 8.87% by 2028. Forecasted to escalate from US$331.500 million in 2021 to an impressive US$600.81 million in 2028, the market reflects the critical nature of streamlined inventory management in fostering efficiency in healthcare supply chains.
Navigating Complex Supply Chains
The report highlights that the complexities of global healthcare supply chains are among the primary drivers propelling market expansion. With ubiquitous challenges like global sourcing, product diversification, stringent regulations, and the necessity for prompt tracking, healthcare organizations are seeking sophisticated inventory management solutions.
Operational Efficiency and Cost Reduction
A focus on operational efficiency and cost containment is also a pivotal factor enhancing market growth. Providers are increasingly implementing inventory management systems to avoid stockpiling or running out of essential supplies, optimizing processes, and ensuring elevated patient care while proficiently reducing expenses.
Inventory Accuracy and Waste Minimization
Driven by the critical need for inventory accuracy to prevent wastage, healthcare organizations are adopting advanced inventory management systems. These services offer accurate tracking, real-time visibility, and analytical data, contributing to waste reduction efforts and amplifying market demand.
- Embracing Technological Integration
- North America's Dominance in the Market
- The Uptrend of RFID and Barcoding Solutions
Technological Innovations Fueling Market Growth
The market is witnessing a burgeoning demand for technologies such as barcoding and Radio-Frequency Identification (RFID), catering to automated and error-free inventory tracking. These technologies are revolutionizing stock level tracking, ushering in enhanced efficiency and inventory control within healthcare facilities.
Geographical Market Outlook and Segmentation
The report provides a detailed analysis of the healthcare inventory management market, covering critical segments and diverse geographical regions. North America tops the market, buoyed by a robust healthcare infrastructure, early adoption of healthcare technologies, and a concentration on augmenting operational efficiency.
Key Market Segments
- Component: Software, Hardware, Services
- Deployment Model: On-Premises, Cloud-Based
- Mode of Operation: Centralized Systems, Decentralized Systems
- End-user: Hospitals, Clinics, Pharmacies, Research Institutions, and more
- Geography: Segmentation includes an in-depth look at North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2021-2028 |
| Estimated Market Value (USD) in 2021 | $331.5 Million |
| Forecasted Market Value (USD) by 2028 | $600.81 Million |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
Companies Mentioned
- Oracle Corporation
- McKesson Corporation
- SAP SE
- Infor, Inc.
- Lawson Software, Inc. (Acquired by Infor)
- Epicor Software Corporation
- Manhattan Associates, Inc.
- Jump Technologies, Inc.
- Tecsys Inc.
- Blue Yonder
For more information about this report visit https://www.researchandmarkets.com/r/nnwnir
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