Medical supply chain management handles the information and physical resources needed to service end customers. Briefly, medical supply chain management consists of all activities related to manufacturing, procurement, storage and transportation of various product types, such as surgical supplies, medical devices and pharmaceuticals.
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There are several factors that affect the growth of the medical supply chain management market. Companies that decided to curb rising healthcare costs played a key role in driving market growth.
In addition to the demand for quality inventory management systems, the market has grown significantly. Other factors, such as improved patient care and compliance with government regulations, also stimulated market growth.
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However, market growth has been severely limited due to factors such as high cost associated with sophisticated software and time spent implementing software. This redemption often results in an unjustified payback period for small businesses.
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Medical supply chain management market is classified according to models, software, hardware, end customer and region provided. Based on the serving model, the market segments covered in the report are cloud-based, web-based, and on-premises.
Medical supply chain management software also includes vendor management software, procurement software, transportation management, and other services. The hardware segments consist of bar codes, RFID, systems and others.
The end customer provided by the market consists of healthcare providers, suppliers, distributors and others. The medical supply chain management market is divided into North America, Europe, Latin America, Middle East and Africa (LAMEA) and Asia Pacific.
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Active companies in the medical supply chain management market are adopting effective business strategies to stay competitive. Major brands are investing heavily in research and development.
Major market participants are paying attention to local brands for the acquisition. Other business models, such as joint ventures and market entry strategies, help prominent vendors feel their presence in the marketplace and improve their product portfolio.
Key players in this market include SAP AG Group, Oracle Corporation, McKesson Corporation, Providence Health & Services, Geisinger Health System, AmerisourceBergen, Intermountain Healthcare and Advocate Health Care.
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