Market Overview:
The global healthcare inventory management market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for healthcare services, rising awareness about inventory management among healthcare providers, and growing adoption of technology-enabled solutions for managing inventories. The global healthcare inventory management market is segmented on the basis of type into hardware, software, and service. The hardware segment is further sub-segmented into medical devices, laboratory equipment & supplies, pharmacy automation systems & supplies, and other hardware components. The software segment is further sub-segmented into enterprise resource planning (ERP) software and supply chain management (SCM) software. The service segment includes consulting services, training & support services, and system integration services. On the basis of application, the market is divided into hospitals and large clinics.
Product Definition:
Healthcare inventory management is the process of managing and overseeing the inventory of medical products, devices and supplies within a hospital or healthcare facility. The goal of healthcare inventory management is to ensure that the right products are available when needed, while also minimizing waste and ensuring cost-effective purchasing. Healthcare inventory management is important because it helps to ensure that hospitals have the necessary medical supplies on hand to treat patients effectively.
Hardware:
Hardware is the tangible assets of any business. It includes all the equipment, tools, and devices that are necessary to perform a specific task or provide a specific service in an organization. Hardware can be broadly classified into two categories: fixed and portable. Portable hardware is more flexible as compared to fixed hardware as it can be shifted from one place to another within an organization depending on requirements without much hindrance.
Software:
Software and it's usage in healthcare inventory management market is used by hospitals, pharmaceutical companies, diagnostic centers to maintain records of medical devices & instruments. It helps to track the device location which can be very helpful in case of theft or loss. Software also provides information about the instrument such as model number, manufacturer name and year of manufacture among other details which makes it easier for doctors & staff members to identify the instrument they are using when consulting a patient’s record.
Application Insights:
In 2017, the hospital segment dominated the global healthcare inventory management market with a revenue share of over 60%. The growth can be attributed to factors such as increasing number of hospitals and large clinics in developing countries. For instance, according to WHO, there were approximately 621 million visits to primary care physicians in 2014 compared with only 165 million visits in 2000. Similarly, according to data published by NHEJIS; around USD 12 billion worth of pharmaceuticals are stolen or lost every year globally. These factors indicate an increase in demand for inventory across hospitals and large clinics which is expected fuel product adoption over the forecast period.
The other application segment includes small clinic or general practice outpatient facilities that manage their supply chain through barcoding and tracking system using radio-Frequency Identification (RFID). This technology helps reduce pilferage by enabling real-time tracking throughout distribution channels thus boosting its adoption across these facilities also driving industry growth during the study period.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to factors such as increasing adoption of healthcare information technology, high disposable income and demand for quality medical services. Moreover, rising number of hospitals and clinics in this region is also anticipated to drive the market growth.
Asia Pacific is estimated to be one of the fastest-growing regions during the forecast period due to growing medical tourism industry, improving healthcare infrastructure and rising awareness about advanced treatment options in emerging countries such as China & India & Singapore.
Growth Factors:
- Increasing demand for better healthcare services and facilities across the globe is expected to drive the growth of healthcare inventory management market.
- Rising number of mergers and acquisitions in the healthcare sector is also anticipated to fuel the demand for healthcare inventory management solutions over the forecast period.
- Proliferation of big data and analytics is expected to offer significant opportunities for growth of this market during forecast period.
- Growing need to curtail rising costs associated with inventory management in hospitals and clinics is projected to propel market growth over next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Inventory Management Market Research Report
By Type
Hardware, Software, Service
By Application
Hospital, Large Clinic
By Companies
LogiTag Systems, Mobile Aspects, TAGSYS RFID, Terson Solutions, WaveMark, Sato Vicinity, Grifols, Skytron, Palex Medical, Nexess
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Inventory Management Market Report Segments:
The global Healthcare Inventory Management market is segmented on the basis of:
Types
Hardware, Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Large Clinic
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LogiTag Systems
- Mobile Aspects
- TAGSYS RFID
- Terson Solutions
- WaveMark
- Sato Vicinity
- Grifols
- Skytron
- Palex Medical
- Nexess
Highlights of The Healthcare Inventory Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- Service
- By Application:
- Hospital
- Large Clinic
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare Inventory Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Healthcare inventory management is the process of tracking, managing, and forecasting the quantities of medical supplies and equipment needed to provide quality patient care. Healthcare inventory management helps ensure that hospitals have enough supplies on hand to meet demand for services while minimizing waste and ensuring that necessary items are in stock.
Some of the major players in the healthcare inventory management market are LogiTag Systems, Mobile Aspects, TAGSYS RFID, Terson Solutions, WaveMark, Sato Vicinity, Grifols, Skytron, Palex Medical, Nexess.
The healthcare inventory management market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare Inventory Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Healthcare Inventory Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Healthcare Inventory Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Healthcare Inventory Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Healthcare Inventory Management Market Size & Forecast, 2018-2028
4.5.1 Healthcare Inventory Management Market Size and Y-o-Y Growth
4.5.2 Healthcare Inventory Management Market Absolute $ Opportunity
Chapter 5 Global Healthcare Inventory Management Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Healthcare Inventory Management Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Healthcare Inventory Management Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Healthcare Inventory Management Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Large Clinic
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare Inventory Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare Inventory Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Healthcare Inventory Management Analysis and Forecast
9.1 Introduction
9.2 North America Healthcare Inventory Management Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Healthcare Inventory Management Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Healthcare Inventory Management Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Large Clinic
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Healthcare Inventory Management Analysis and Forecast
10.1 Introduction
10.2 Europe Healthcare Inventory Management Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Healthcare Inventory Management Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Healthcare Inventory Management Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Large Clinic
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Healthcare Inventory Management Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Healthcare Inventory Management Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Healthcare Inventory Management Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Healthcare Inventory Management Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Large Clinic
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Healthcare Inventory Management Analysis and Forecast
12.1 Introduction
12.2 Latin America Healthcare Inventory Management Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Healthcare Inventory Management Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Healthcare Inventory Management Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Large Clinic
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Healthcare Inventory Management Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Healthcare Inventory Management Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Healthcare Inventory Management Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Healthcare Inventory Management Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Large Clinic
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare Inventory Management Market: Competitive Dashboard
14.2 Global Healthcare Inventory Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LogiTag Systems
14.3.2 Mobile Aspects
14.3.3 TAGSYS RFID
14.3.4 Terson Solutions
14.3.5 WaveMark
14.3.6 Sato Vicinity
14.3.7 Grifols
14.3.8 Skytron
14.3.9 Palex Medical
14.3.10 Nexess
