PUBLISHER: Inkwood Research | PRODUCT CODE: 1277627
PUBLISHER: Inkwood Research | PRODUCT CODE: 1277627
The United States pharmaceutical supply chain management market is predicted to grow with a CAGR of 8.84% over the forecast years of 2023-2030. The market growth of the country is fuelled by the high rates of digital transformation, the surging adoption of innovative and cutting-edge technologies, and increasing expenditure on pharmaceuticals.
Larger United States healthcare providers are inclined towards purchasing or leasing their distribution centers and operating their truck fleets. The decision to ensure that distribution is in-house is mainly on account of establishing direct control over issues like legal compliance, specifically for pharmaceutical supply. In addition, several organizations assert that in-sourcing hospital supply chains lead to significant cost savings, as well. For instance, Mercy Health System, a United States healthcare provider, resolved to insource storage and transportation, thus saving upto 30% annually on distribution costs and logistics.
Conversely, the Drug Supply Chain Security Act (DSCSA), Title II of the DQSA, elaborates procedures to accomplish interoperable, electronic tracking of goods at the package level in order to identify and trace specific prescription medications as they are distributed across the United States. This step will likely enhance the Food and Drug Administration's (FDA) capacity, thus safeguarding customers from stolen, counterfeit, tainted, or otherwise hazardous pharmaceuticals. Furthermore, these measures will also help enhance the identification and subsequent removal of potentially harmful medicines from the drug supply chain. Hence, the aforementioned factors are set to propel the United States pharmaceutical supply chain management market growth during the estimated period.
Leading players in the market are: Oracle Corporation, Cardinal Health, McKesson Corporation, etc.