Pharmaceutical Supply Chain Management Market: 2023-2030 Trends
According to Triton’s analysis, the global pharmaceutical supply chain management market was valued at $2187.73 million in 2022 and is expected to grow at a CAGR of 8.70% during the forecast period.
A recent study by Triton Market Research titled Global Pharmaceutical Supply Chain Management Market includes segmented by Deployment Mode (Cloud-based, On-premise), Component (Solution [Planning and Analytics, Transportation Management System, Manufacturing Execution System, Warehouse and Inventory Management System, Procurement and Sourcing], Service [Professional Services, Managed Services]), and Regional Outlook (Middle East and Africa, Europe, North America, Latin America, Asia-Pacific).
Read the Market Summary Here: https://www.tritonmarketresearch.com/reports/pharmaceuticalsupply-chain-management-market
Pharmaceutical supply chain management involves the strategic management of a product’s entire value chain and associated logistics, which requires collaboration among manufacturers, suppliers, distributors, business partners, and consumers from procurement to delivery.
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According to Triton’s study analysis, the global pharmaceutical supply chain management market is anticipated to rise in revenue to $4203.32 million by 2030, growing at a CAGR of 8.70% during the forecast period 2023-2030.
It is projected that worries about drug counterfeiting and the implementation of the GS1 standard will fuel the expansion of the industry under study. The need for effective supply chain management solutions is highlighted by the notable incidence of pharmaceutical drug counterfeiting, which is the source of this demand. The Pharmaceutical Security Institute has released data that shows a significant increase in the illegal trafficking of counterfeit medications, with a 38% increase in 2020.
However, the market encounters challenges from regulatory complexities in healthcare data exchange and the considerable expenses associated with supply chain management software.
The pharmaceutical supply chain management market is categorized into deployment mode and component. The deployment mode section includes on-premise and cloud-based. Based on the component, it is branched into solution and service. The solution section further includes the manufacturing execution system, procurement and sourcing, warehouse and inventory management system, planning and analytics, and transportation management system. Further, the service section is divided into managed services and professional services.
Asia-Pacific holds the highest share in the pharmaceutical supply chain management market. Technological adoption and wide availability of supply chain management software facilitated by internet and mobile device adoption boost the studied market’s growth. Additionally, establishing regional offices in the sizable pharmaceutical industry, like IBM, SAP, and Oracle, contributes to pharmaceutical supply chain management market expansion.
The eminent companies in the pharmaceutical supply chain management market are Oracle Corporation, Cardinal Health Inc, Tecsys Inc, SAP SE, Jump Technologies Inc, Manhattan Associates Inc, Terso Solutions Inc, McKesson Corporation, Infor, and Arvato Group.
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Question & Answer: Global Pharmaceutical Supply Chain Management Market
Question 1: What trends drive the pharmaceutical supply chain management market on a growth path?
Answer: The growth of the studied market is anticipated to be propelled by concerns related to drug counterfeiting and the adoption of the GS1 standard. This demand stems from the significant prevalence of pharmaceutical drug counterfeiting, underscoring the necessity for efficient supply chain management solutions. Notably, data from the Pharmaceutical Security Institute reveals a
noteworthy uptick in instances of illicit trafficking of counterfeit drugs, with a substantial 38% increase in 2020.
Question 2: What factors restrict the development of the pharmaceutical supply chain management market?
Answer: The market encounters challenges from regulatory complexities in healthcare data exchange and the considerable expenses associated with supply chain management software.
Question 3: Which region dictates the pharmaceutical supply chain management market globally?
Answer: Asia-Pacific holds the highest share in the pharmaceutical supply chain management market. Technological adoption and wide availability of supply chain management software facilitated by internet and mobile device adoption boost the studied market’s growth. Additionally, establishing regional offices in the sizable pharmaceutical industry, like IBM, SAP, and Oracle, contributes to pharmaceutical supply chain management market expansion.
Question 4: Which are the eminent companies in the pharmaceutical supply chain management market?
Answer: The eminent companies in the pharmaceutical supply chain management market are Oracle Corporation, Cardinal Health Inc, Tecsys Inc, SAP SE, Jump Technologies Inc, Manhattan Associates Inc, Terso Solutions Inc, McKesson Corporation, Infor, and Arvato Group.
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