Poised for a robust growth outlook in the years to come, the global Medical Supply Delivery Service Market surpassed the revenue of US$50 Bn in 2022. This report sheds light on the critical aspects defining the direction of the market growth curve.
Market Analysis Brief
At present, the volume of surgical procedures has significantly mounted concurrently affecting the adoption of medical courier services. This ensures on-time delivery of medical supplies to healthcare facilities. In this regard, the calls for assuring quick and secure transportation of samples and specimens for testing and minimising the cost of logistics has reached a crescendo. There is a heightened commitment to revolutionising healthcare amid the soaring incidence of road accidents, the need for surgical procedures, and the rising prevalence of chronic diseases. Under such settings, there prevails a possibility of blood loss, presenting the need for an immediate arrangement of blood. Therefore, the expansion of healthcare logistics and concurrent rise in demand for quick and affordable delivery of samples and specimens for testing or diagnostic purposes is assuring influential growth across the global medical supply delivery service market.
Key Report Findings
Ascending Demand for Timely Delivery of Medical Supplies
Across the globe, demand for medical couriers for the timely delivery of medical supplies to healthcare units has risen at a record pace. The astonishing rise in chronic disease prevalence among the global populace is presenting the need for various surgical procedures. These surgical procedures put forth the demand for various tests and drugs. Consequently, this has driven radical shifts in demand for medical supply delivery services on the global level.
In addition to this, the geriatric population are more prone to developing chronic ailments. The United Nations estimates global geriatric population to cross the 2 billion mark by 2050. This has created the need for secure and timely delivery of medical supplies, samples, lab specimens, and reports, paving potential avenues for the global medical supply delivery service market.
In the coming years, the decreasing transportation costs, and incorporation of cutting-edge technologies in logistics is predicted to assure influential growth across the market.
Growing Number of Road Accidents
The global medical supply delivery service market is majorly driven by the increasing number of road accidents. The World Health Organization reports that approximately 1.3 million people die in road accidents every year. Furthermore, almost 20 to 50 million people acquire injuries and developed disabilities as a result of road accidents.
The need for immediate action in the face of such incidents has placed the need for emergency services which further accelerates the demand for medical supply delivery services. Hence, the growing need for first aid in case of road accidents is extending the growth dynamics of the global market.
Likewise, governments are also incentivising the adoption of innovative delivery modes, including drone delivery. In this context, the growing emphasis on the development of efficient and secure delivery of medical supplies to various end users such as patients, clinics, hospitals, and laboratories is poised to influence the medical supply delivery service market growth.
Overview of Key Market Segments
Medical Supplies Segment Manoeuvring Market Growth
On the application basis, the global market is divided into emergency services, medical supplies, and lab specimens & reports. An alarming rise in the number of surgeries along with the benefits associated with the clinical gadget conveyance administrations facilitating practical, quicker, and contactless conveyance of items. This is expected to drive the recipience of clinical inventory conveyance administrations. Moreover, there has been a notable rise in the number of artificial organ transplant procedures.
To this end, the medical supplies sector is making significant contributions to the medical supply delivery service market. Other factors such as unhealthy eating habits, the pervasiveness of chronic diseases, the growing consumption of alcohol, and the rampant rise in success rates of organ transplants over the recent past are propelling the growth of this segment.
Courier Delivery Serves as an Ideal Mode of Service
Based on the mode of service, the medical supply delivery service market is segmented as courier delivery and drone delivery. Among these, the courier delivery segment garnered major attention. Transportation of sensitive and confidential healthcare materials such as infusion medicine, documentation, prescription drugs, lab work, equipment, supplies, and medical specimen clamours for cost-effective medical courier services.
Notwithstanding, drone delivery is expected to register robust growth underpinned by its potential to improve healthcare services. This is more specific to distant and underserved areas. Drone delivery ensures just-in-time delivery, minimises costs for routine prescription care, and shortens lab testing turnaround times.
Asia Pacific Grows Lucrative with Sophistication of Healthcare Infrastructure
On the global front, the medical supply delivery service market is thriving across North America, Europe, Asia Pacific, and the rest of the world. The market in Asia Pacific is set to witness all-time high growth owing to improved healthcare infrastructure, rising chronic disease prevalence, and a growing geriatric population, attracting significant infrastructure investments. The ongoing technological developments and improvements in the medical tourism industry are further propelling market growth.
Rapidly advancing care models, higher labour costs during workforce shortages, and expansion of healthcare systems in emerging nations are playing an instrumental role in the market expansion. Evidently, the medical drone technology is extensively being deployed across emerging economies, generating revenue opportunities for nations such as China, and India. These countries are benefiting greatly from partnerships with private operators, humanitarian groups, and governments.
Eminent Industry Participants
The medical supply delivery service market is highly versatile with several local and global companies competing to establish their presence. This is further facilitated by the adoption of strategic endeavours such as partnerships, investments, and M&A. DHL, UPS, Agility, LogistiCare Solutions, LLC, FedEx Corporation, CEVA Logistics, The Wing, International SOS, Matternet, Zipline, Flirtey, and Swoop Aero are a few most prominent players in the global market.
During the projection period, the spending in research and development would be front-loaded as companies strive to tap into the market potential. Competitive pricing is likely to remain a key agenda for companies to keep abreast of market competition.
Regional Classification of the Global Medical Supply Delivery Service Market is Listed Below:
Middle East and Africa
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.View Methodology