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Global Healthcare Supply Chain Management Industry

Global Healthcare Supply Chain Management Industry

  • April 2021
  • 512 pages
  • ID: 5798733
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- De-Risking Global Healthcare Supply Chains Become Top Priority. Healthcare Supply Chain Management to Reach $3.9 Billion
- Global market for Healthcare Supply Chain Management is expected to reach US$3.9billion by the year 2027 trailing a post pandemic growth rate of 9.9% for the period 2020 to 2027.COVID-19 has placed extreme pressure on healthcare supply chains. A largely unprepared global health system set into motion an unavoidable spike in demand for life-saving PPE. Rising infections now totaling to 664,172 is driving up demand for medical supplies & pharmaceuticals even further. China`s dominance of the world`s supply of active pharmaceutical ingredients is leading to rethinking & rebalancing of where &how drugs are made worldwide. China has been largely perceived as a country with low-cost labor and mature production facilities, the two key factors that have helped companies in reducing their production costs and increasing their profit margins by producing and sourcing goods from the country. However, it is due to this massive reliance on China for sourcing products that the effect of the COVID-19 pandemic on supply chains has been more profound than ever before. Countries such as the US rely heavily on China for medical supplies, from pharmaceuticals and protective wear to critical parts for devices. Disruptive effects associated with COVID-19 are immensely straining supply chains for medical devices and pharmaceutical products, leading to enormous shortages. While majority of players in China have resumed operations, the overall impact of the pandemic is expected to expose medical device and pharmaceutical companies to the risk of supply shortages.
- The US depends on a large number of foreign-sourced active pharmaceutical ingredients for its domestic market. Imports account for about 80% of Active Pharmaceutical Ingredients (APIs) used in the US. Ongoing supply chain disruptions in China and India have considerably curtained availability of these ingredients. In addition, India has restricted exports of various pharmaceutical ingredients along with drugs intended for other markets including the US, which holds serious consequences for the public health. Increasing number of COVID-19 patients along with economic damage associated with the pandemic is expected to further affect supply chains and constrict supply of these products. The lead times for pharmaceutical supply chain are around four to six months or even longer, which can be attributed to the labor-intensive nature and reliance on skilled workers. COVID-19 related restrictions on people and workers are further affecting lead times. The full impact of disruptions is yet to be felt, as chemical deliveries slow down & inventories of backup supplies dwindle. Now is the time to leverage Healthcare Supply Chain Management tools to mitigate & manage the impact of disruptions.
- The current crisis requires participants in the healthcare supply chain to revise conventional strategies and focus on efficient efforts to address enormous demand for medical supplies and associated products. Companies at the production level need to increase manufacturing capacities and prioritize products with high medical needs. Manufacturers are required to work in close association with authorities and clients for seamless distribution. Various players are investing in digitization of production units through real-time monitoring systems along with sophisticated scheduling and planning tools. These efforts are anticipated to remarkably push manufacturing capacities for better supply. In addition, hospitals, clinics and pharmacies can share consumption and inventory data with manufacturers and distributors to help adjustments in the supply chain, ensuring delivery of products to hospitals that need them more. Another approach considered by various healthcare organizations is to pay more attention to online healthcare services. Remote monitoring and treatment of patients considerably reduces consumption of various medical supplies such as masks and gloves, easing pressure on the supply chain. Digital transformation is underway as businesses look to explore options of shifting their operations to cope with supply disruptions. Digital technologies and technology-based business models are expected to play an important role in the post COVID-19 period for companies to improve the resilience of their global supply chains. On the basis of the lessons learnt from the current COVID-19 crisis, businesses can take several vital steps towards making supply chains more resilient once the crisis is over. One of the major steps would be to reduce the requirement of human workforce across logistics, warehousing, and transportation. This could be achieved through core digital technologies for Industry 4.0, including Internet of Things (IoT), control towers, block chain, machine learning/artificial intelligence-enabled demand forecasting, rule-based/self-adjusting stock allocations, and autonomous devices, such as drones and automated guided vehicles (AGVs). Factories capable of modularizing production and shifting production lines based on changes in demand are expected to become the new norm in the future. These modular factories would need to be supported by intelligent supply networks capable of seamlessly communicating with each other, thereby significantly enhancing their agility and effectiveness.

- Select Competitors (Total 59 Featured) -
  • Arvato Systems
  • Blue Yonder Group, Inc. (JDA Software)
  • Cardinal Health
  • Cerner
  • Global Healthcare Exchange
  • Harris Affinity
  • Hybrent
  • Infor
  • Jump Technologies
  • LLamasoft
  • LogiTag Systems
  • Manhattan Associates
  • McKesson Corporation
  • Oracle Corporation
  • Premier
  • SAP SE
  • TECSYS

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