FDA device ID, blockchain, cloud driving growth of healthcare supply chain market

The healthcare supply chain management market is predicted to reach $2.31 billion by 2022, driven by the need for healthcare providers to improve efficiency and profitability. The growth will be supported by factors such as cloud-based systems, FDA’s unique device identification initiative, and the adoption of the GS1 System. Counterfeit drug prevention and blockchain technology could also have a significant impact on supply chain management in the healthcare industry. The North American market is expected to grow the fastest, followed by Europe and Asia-Pacific. The software segment currently holds the largest share of the market.