As per Inkwood Research, the Global Pharmaceutical Supply Chain Management Market is predicted to grow with a CAGR of 8.84% in terms of revenue during the forecasted period of 2023-2032.
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Pharmaceutical supply chain solutions enable pharmaceutical distributors, wholesalers, manufacturers, pharmacies, as well as medical professionals to automate time-consuming, manual, supply chain-related tasks. Additionally, they also help leverage workflows as well as business intelligence to lower costs and ultimately enhance the delivery of essential drugs to patients.
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Adoption of GS1 Standard System Spurs Global Market Growth
The overall healthcare expenditure has been escalating over the years and is projected to increase faster than national incomes in most countries. In this regard, the optimization of supply chains using international standards is a promising method to minimize costs. For instance, global standards like barcodes have helped counter the proliferation of counterfeit medications. Accordingly, the GS1 System of Standards provides a globally harmonized, efficient, and integrated framework for the management of supply chain information.
Service: Fastest-Growing Component by 2032
Supply chain services include inventory management, logistics management, planning & forecasting, supply chain data management, replenishment services, supply planning, and demand management. These service providers offer real-time intelligence as well as actionable recommendations to decrease disruption mitigation time, while reducing the costs and risks associated with qualifying, validating, and managing new suppliers.
Asia-Pacific to be the Dominating & Fastest-Growing Market
Some of the top factors fueling the market growth of the region include the rising Internet as well as mobile device adoption, coupled with the Asia-Pacific’s rapidly developing pharmaceutical industry. Moreover, the industrial rivalry in the global pharmaceutical supply chain management market is forecasted to be high during the projection years. Some of the top companies operating in the global market include Tecsys Inc, Infor, McKesson Corporation, etc.
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About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.