by The global Medical Supply Delivery Service Market has reached unprecedented heights, exceeding a revenue milestone of US$50 billion in 2022. A recently published report sheds light on key factors driving this growth trajectory and its implications for the healthcare industry.
Market Analysis Highlights
In recent times, the world has witnessed a substantial increase in surgical procedures, creating a surge in demand for medical courier services. This surge ensures the timely delivery of vital medical supplies to healthcare facilities. With a growing commitment to revolutionize healthcare, driven by factors such as rising chronic diseases, road accidents, and the need for surgical interventions, there is an urgent requirement for quick and cost-effective logistics solutions. Particularly noteworthy is the demand for the immediate transportation of blood in cases of emergencies. Consequently, the expansion of healthcare logistics and the concurrent rise in demand for swift and affordable delivery of samples and specimens for testing or diagnostic purposes are driving influential growth in the global medical supply delivery service market.
Key Findings
- In 2022, the medical supply delivery service market crossed the US$50 billion mark.
- The markets growth is expected to remain steady due to the increasing demand for timely medical deliveries.
- The prevalence of chronic diseases, road accidents, and various surgical procedures will fuel market expansion.
- Asia Pacific is poised to capture a dominant market share, driven by ongoing healthcare infrastructure development.
- Courier delivery is the leading market segment, with drones showing promise for future growth.
Growth Drivers
Ascending Demand for Timely Delivery of Medical Supplies: The global demand for medical couriers has surged, driven by the need for timely delivery of medical supplies to healthcare facilities. The rising prevalence of chronic diseases, along with an aging population, has further heightened this demand, with the geriatric population expected to surpass 2 billion by 2050. Advancements in logistics technology and decreasing transportation costs are anticipated to propel market growth.
Growing Number of Road Accidents: The increasing number of road accidents, resulting in injuries and disabilities, has led to a greater need for immediate medical supplies and emergency services. Governments are incentivizing innovative delivery modes like drone delivery to enhance the secure and efficient transportation of medical supplies.
Market Segments
Medical Supplies Segment Manoeuvring Market Growth: The medical supplies segment is making significant contributions to the market, driven by the rising number of surgeries and the benefits of clinical gadget conveyance services, which offer cost-effective, faster, and contactless delivery of medical products.
Courier Delivery Serves as an Ideal Mode of Service: Courier delivery remains the dominant mode of service, efficiently transporting sensitive healthcare materials. Drone delivery is expected to register robust growth, particularly in remote and underserved areas, offering just-in-time delivery, cost savings for routine prescription care, and faster lab testing turnaround times.
Regional Outlook
Asia Pacific Grows Lucrative with Sophistication of Healthcare Infrastructure: The Asia Pacific region is witnessing substantial growth, thanks to improved healthcare infrastructure, rising chronic diseases, and a growing geriatric population. Technological advancements, medical tourism, and the deployment of medical drone technology are further propelling market expansion in emerging economies such as China and India.
Eminent Industry Participants
Several local and global companies are actively competing in the versatile medical supply delivery service market. Strategic endeavors such as partnerships, investments, and M&A activities are driving competition. Key players in the global market include DHL, UPS, Agility, LogistiCare Solutions, LLC, FedEx Corporation, CEVA Logistics, The Wing, International SOS, Matternet, Zipline, Flirtey, and Swoop Aero.
As the market continues to evolve, companies are expected to front-load their research and development efforts to tap into its full potential. Competitive pricing strategies will remain crucial in navigating market competition.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/medical-supply-delivery-service-market
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This press release first seen on Brilad
COMTEX_441833686/2840/2023-10-13T06:23:42
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.