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Medical Courier Market By Service Type (Standard Courier services, International Services, Rush & On-demand, Pallet, Shipment & Warehousing, Others) By Application (Hospitals, Diagnostic Labs, Pharmaceuticals, Blood, Banks, Medical equipment & Suppliers, Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

What is the Technology Upgradation in the Global Medical Courier Market?

Growth has completely recovered and is expected to expand by 4.1 percent in 2021, owing to healthcare innovations and rapid technological advancement. For example, the medical courier includes real-time tracking technology, which helps courier businesses ensure safe and fast product delivery. In 2021, United Parcel Service, an American supply chain management corporation, intends to collaborate with medical groups to offer drone-based medical courier services. The company also intends to expand its drone-based services to medical supplies by using drones to deliver prescribed medicines and other medical products.

medical-courier-market

What is the Market Size of Medical Courier in terms of value?

Global Medical Courier Market is projected to increase at a significant CAGR of 5.40% in the coming years. In 2021, the global Medical Courier market was valued at USD 5.2 billion and is projected to reach USD 7.12 billion by 2028. The demand for Medical Courier is projected to increase substantially in the coming years and is presumed to generate revenue opportunities for the key industry players worth USD 1.92 billion during the forecast period between 2021 and 2028.

How Geriatric Population effect the Global Medical Courier Market Growth?

The growing global geriatric population positively affects the demand for medical samples in the global medical courier market. The elderly population is vulnerable to various chronic diseases, which fuels the number of surgical procedures, demand for various tests, and supply delivery services. In 2021, there are 703 million persons aged 65 and above. The number of elderly people is expected to double to 1.5 billion by 2028, which would directly impact the growth of the medical courier business. Population aging has been quickest in eastern Southeast Asia and Latin America. According to the United Nations, the global geriatric population is expected to reach 2 billion by 2050. 

Interesting Facts about Medical Courier Industry

  • A strong consumer focus drives the worldwide medical courier market. The global market is expected to be propelled by the changing choices and expectations of the new-age customer. 
  • A strong consumer focus drives the global medical courier market. The global market is expected to be driven by the changing choices and expectations of the new-age customer.
  • The growing need for specimens and technology in the pharmaceutical and biotechnology industries would boost the overall growth of the medical courier market. 
  • Asia Pacific region had a major share in terms of volume and value in the global Medical Courier market in 2021 and is projected to continue its dominance over the forecast period.
  • Diagnostic Labs witnessed high growth during the forecast period due to owing to the outbreak of the COVID-19 pandemic in 2021 has fuelled the growth of this segment.

Who are the Top 10 players/companies in Medical Courier market regarding value and volume?

The value and volume of the global Medical Courier market include "Affordable Courier Solutions, Inc, Aylesford Couriers swine, City Sprint Healthcare, Ineloquence Delivery, Inc., Best Courier, Americold Registry LLC, Blaze Express Courier Service, Dynamex and Other Prominent Players. In addition, mergers and acquisitions, collaborations, and collaborative agreements are also important initiatives performed by major market players. Moreover, some regional and country-level players are also investing heavily to expand their product portfolio and enhance their sales. For instance, In May 2021, FedEx and Microsoft joined hands to innovate and transform the end-to-end commerce experience.

In April 2019, Maren, a business unit of UPS, expanded its logistics footprint in Italy by acquiring HRTL. In addition, Maren expanded its European presence by acquiring Austria-based HETO and Hungary-based Der Currier. This, in turn, is anticipated to drive the market in the forthcoming years. 

Who are the Top 10 Countries in the Medical Courier Market?

The major countries in the global Medical Courier market are US, Canada, United Kingdom, USA, Germany, China Japan, India, France, Spain, UAE. US medical courier market held a 34 percent market share. It is due to the high demand found across all needs. The presence of some of the top medical courier service providers in the US creates a revenue share in the global industry. Improvements to the clinical supply model and commercial distribution will drive revenue growth during the forecast period. Autonomous logistics is projected to gain traction in the medical courier services markets in the United States. This is due to rising fuel, maintenance, and labor expenses, affecting logistics companies' profitability.

Which is the Key Application Area in the Medical Courier Market?

The key applications of Medical Courier include Hospitals, Diagnostic Labs, Pharmaceuticals, Blood Banks, and medical equipment & Suppliers. In 2021, hospitals were expected to develop at the fastest rate between 2022 and 2028. It's because of the pandemic and other surgical treatments' high demand. Many COVID-19 have been used to meet the demand. As a result, COVID has resulted in the hospitalization of 621,095 individuals in hospitals.

Patients' increased demand for door-to-door delivery of various prescription medications and medical supplies is fuelling market expansion. Experts predict that the numbers will be felt in installments over the next few years. The segment would surpass the market due to strong demand and the rapid development of new medical equipment. 

What are the Major Driving Factors for Medical Courier Market?

An increase in the number of surgical procedures, combined with the use of medical courier services for delivering medical supplies to healthcare institutions on time, is likely to drive market expansion. Also, the rising incidence of traffic accidents is likely to be a major driver of the medical supply delivery service market. Road accidents increase the need for emergency services, which increases the demand for medical supply delivery services. In addition, the growing need for organ transplants is an important aspect contributing to the overall growth of the medical courier market.

What are the Major Restraints for Medical Courier Market?

Developing and underdeveloped countries face a shortage of trained personnel and rover in the upcoming years. The threat of compromising quality owing to a drive to provide products in the quickest period feasible, as well as a lack of skilled people, challenging the growth in developing countries. The risk of sacrificing quality to deliver products in the shortest time is the major factor hindering the market growth over the upcoming years.

Which Region Dominated the World Medical Courier Market?

In 2021, North America, Europe, APAC, MEA, and South & Central America, after examining political, economic, social, and technical aspects influencing the Medical Courier market in these regions, Asia Pacific dominated the global Medical Courier market and accounted for more than 34% of the market revenue share in terms of value as well as volume. Adoption and implementation of flying drone technologies are expanding in developing economies, opening new markets in China and India in collaboration with private operators. The rise of e-commerce has resulted in an increase in the number of parcel delivery and logistics service providers in the region. 

North America holds the second largest in market during the forecast period. Automation is a crucial factor driving the rise of the courier and local delivery services market share in North America. Autonomous logistics is projected to gain traction in North America's courier and local delivery services markets. This is due to rising fuel, maintenance, and labor expenses, affecting logistics companies' profitability.

Segmentation of Global Medical Courier Market-

Global Medical Courier Market – By Service Service Type

  • Standard Courier services
  • International Services
  • Rush & On-demand
  • Pallet Shipment & Warehousing
  • Others

 Global Medical Courier Market – By Application

  • Hospitals
  • Diagnostic Labs
  • Pharmaceuticals
  • Blood Banks
  • Medical equipment & Suppliers
  • Others

Frequently asked questions about the global Medical Courier industry.

Asia Pacific accounted for the highest share in the global Medical Courier market in terms of value and volume.

The growing requirement for speedy transportation and delivery of pharmaceuticals and medical supplies during emergencies, as well as an increased focus on strengthening the healthcare system and lowering supply chain costs, are key factors driving the medical supply delivery service market expansion.

Pharmaceutical Medical Courier had a major share in 2021 with more than 20% of the market revenue share. Besides, Diagnostic labs is projected to witness the fastest growth.

Affordable Courier Solutions, Inc, Aylesford Couriersswine, CitySprint Healthcare, IntelliQuick Delivery, Inc., Best Courier, Americord Registry LLC, Blaze Express Courier Service, Dynamex and Other Prominent Players.

Medical Courier Market Scope

Report Attribute Details
Market Value in 2021 USD 5.2 billion
Market Value in 2028 USD 7.12 billion
CAGR CAGR of 5.40%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Jul 2022
Category:  Pharmaceuticals
Report ID:   59459
Report Format:   PDF
Pages:   190
Rating:    4.7 (55)
Delivery Time: 24 Hours to 48 Hours   
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