According to Precedence Research, the global medical supply delivery service market was valued at US$ 51 billion in 2022 and is expected to reach over US$ 110.61 billion by 2032, poised to grow at a CAGR of 8.10% from 2023 to 2032.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
The Asia Pacific medical supply delivery service market accounted for US$ 19.89 billion in 2022 and is predicted to grow over US$ 43.54 billion by 2032, at a CAGR of 8.20% between 2023 to 2032.
Asia Pacific dominate the global medical supply delivery service market, garnering a market share of around 40% in 2022. The rising investments by the government in the improvement of healthcare infrastructure, rising burden of diseases, growing geriatric population, rising number of hospital admissions, and increasing adoption of technological advancements in the logistics are the major factors that are estimated to boost the growth of the market.
Europe is estimated to be the fastest-growing market during the forecast period. The high healthcare expenditure, increased adoption of advanced technologies in the healthcare sector, rapid growth in the e-commerce, and enhanced logistics services owing to the presence of developed infrastructure are the prominent drivers of the Europe medical supply delivery service market.
The global medical supply delivery service market is significantly driven by the growing demand for the services of medical couriers for the timely delivery of medical supplies to the healthcare units. The growing number of surgical procedures across the globe due to the growing prevalence of chronic diseases among the population is boosting the demand for the medical supply delivery service market. Moreover, the elderly people are susceptible to various chronic diseases which fuels the number of surgical procedures, demand for various tests, and demand for drugs, which drives the demand for the medical supply delivery services. According to the United Nations, the global geriatric population is estimated to reach at 2 billion by 2050. The increasing needs for the secure and timely delivery of the medical supplies, lab specimens, samples, and reports is positively impacting the market growth. The declining transportation costs and adoption of innovative technologies in the logistics is expected to fuel the growth of the market in the forthcoming years.
The growing number of road accidents is expected to be a major driver of the medical supply delivery service market. The road accidents results in the demand for the emergency services that boosts the demand for the medical supply delivery services. According to the World Health Organization, around 1.3 million people die in road accidents each year. Moreover, around 20 to 50 million people acquire injuries and many accident victims develops disabilities. Therefore, the growing number of road traffic accidents are expected to propel the growth of the market. Furthermore, the growing government initiatives to adopt innovative delivery modes such as drone deliver is estimated to drive the market growth. For instance, the government of Tanzania partnered with the DHL to develop a medical drone delivery program in 2018. Thus, the increasing focus towards the development of the efficient and secure delivery of medical supplies to various end users such as hospitals, clinics, patients, and laboratories is supplementing the growth of the global medical supply delivery service market.
|Market Size||USD 110.61 Billion by 2032|
|Growth Rate||CAGR of 7.6% from 2023 to 2032|
|Largest Market||Asia Pacific|
|Fastest Growing Market||Europe|
|Forecast Period||2023 to 2032|
|Segments Covered||Service Mode, Application, End User, Region|
|Companies Mentioned||DHL, UPS, Agility, LogistiCare Solutions, LLC, FedEx Corporation, CEVA Logistics, The Wing, International SOS, Matternet, Zipline, Flirtey, Swoop Aero|
The courier delivery segment dominated the global medical supply delivery service market in 2020. The increased demand for the cost-effective transportation and delivery, and the timely delivery of various healthcare materials such as reports, prescription drugs, infusion medicines, lab specimens, and medical equipment has fostered the growth of this segment. Moreover, the increased penetration of the courier delivery mode owing to the higher presence of global and local courier companies across the globe have significantly contributed towards the growth of this segment.
On the other hand, the drone delivery is estimated to be the most opportunistic segment during the forecast period. The rising popularity of drones and growing acceptance of drones in the medical supplies delivery in the developed and developing economies is boosting the demand for the drone delivery services. The development of regulations regarding drones, higher efficiency of the drones, and enhancement of the supply chains are the major factors that are expected to drive the growth f the drone delivery segment in the upcoming future.
Medical supplies segment accounted more than 30% of the market share and dominated the global medical supply delivery service market in 2020. The rising prevalence of chronic diseases and growing geriatric population is fueling the number of surgical procedures across the healthcare units. The increasing volume of procedures is resulting in the increased demand for the medical supplies that further boosts the demand for the medical supply delivery services. The increased need for the cost-effective, secure, and quick delivery of the various medical supplies has fostered the growth of the medical supplies segment.
The lab specimens & reports is estimated to be the fastest-growing segment during the forecast period. The increased demand for the contact-less and timely deliveries of specimens like blood samples, urine, saliva, and others to the labs, owing to the outbreak of the COVID-19 pandemic in 2020 has fueled the growth of this segment. This trend of contactless delivery of specimens and reports is expected to sustain in the long term and boost the growth of this segment in the foreseeable future.
Based on the end user, the pharmacies segment dominated the market, accounting for a market share of more than 20% in 2022. The increased demand for the convenient door step delivery of drugs and various medical supplies has boosted the growth of the pharmacies. The customers can eliminate the long queues in the pharmacies and can easily pay using various payment methods. The conveniences associated with the delivery services in the pharmacies has fueled the growth of this segment.
On the other hand, the patients is estimated to be the fastest-growing segment during the forecast period. The growing geriatric population and growing disabilities owing to aging and various diseases, the patients segment is expected to grow at a rapid pace during the forecast period. The increasing demand for the door step delivery of various prescription drugs and medical supplies among the patients is propelling the market growth.
Key Market Developments
The medical supply delivery servicemarket is moderately fragmented with the presence of several local and global companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
Segments Covered in the Report
By Service Mode
By End User
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client