by Supply chain risk management solutions help organizations identify, assess, and mitigate operational risks across supply chains by leveraging technologies like analytics, artificial intelligence, and blockchain. These solutions are increasingly being used in healthcare industries to ensure uninterrupted supply of critical drugs and medical equipment.
The global Supply Chain Risk Management Market is estimated to be valued at US$ 2.22 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing burden of chronic diseases is expected to drive the demand for supply chain risk management solutions in the healthcare sector. As chronic diseases like cancer, diabetes, and cardiovascular diseases proliferate worldwide, healthcare systems are under tremendous pressure to supply large quantities of drugs and critical care equipment on a consistent basis. Supply chain risk management solutions help pharmaceutical and medical equipment companies track inventory levels, monitor transportation of temperature-sensitive products, and mitigate risks of shortage. They are playing a vital role in strengthening healthcare supply chains to effectively manage growing burdens of chronic diseases.
SWOT Analysis
Strength: Supply chain risk management solutions help businesses identify potential risks and reduce supply chain disruptions. This improves efficiency and cost savings.
Weakness: Implementing robust supply chain risk management requires significant investment of time and resources. Small businesses may find it challenging to adopt advanced solutions.
Opportunity: Growth of e-commerce and globalization of supply chains have increased complexity. This drives the need for enterprises to strengthen risk monitoring and contingency planning.
Threats: Geopolitical tensions can impact global trade. Natural disasters and public health crises like pandemic further elevate supply chain vulnerabilities.
Key Takeaways
The Global Supply Chain Risk Management Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Supply Chain Risk Management Market is estimated to be valued at US$ 2.22 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030.
North America currently dominates the market due to extensive adoption by leading industries in the region. The Asia Pacific region is projected to grow at the fastest pace in the supply chain risk management market. This is attributed to rapid industrialization and increasing investments by global companies to establish manufacturing facilities. Countries like China, India and Japan are major production and export hubs, making supply chains highly complex in Asia Pacific.
Key players related content
Key players operating in the supply chain risk management market are BWise, Avetta, SAP, Curvature, DHL Resilience360, GEP, LogicManager, Marsh, MetricStream, and Zurich. Rise in burden of chronic diseasesGrowing geriatric (aging) population is creating more demand for pharmaceuticals and medical devices. This is prompting manufacturing companies to strengthen oversight of international suppliers and distributors
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
