The Global Medical Supply Delivery Service Market size was USD 51.23 billion in 2021 and it is expected to grow to USD 98.32 billion in 2030 with a CAGR of 8.16% in the 2022-2030 period.
Global Medical Supply Delivery Service Market: Overview
As observed from the lifestyle of the people in 21st Century, more and more people are now susceptible to stress and they do not follow the healthy routine as well. This leads to prevalence of a number of diseases worldwide. The prevalence of diseases, results in increased number of surgical procedures, increased number of tests undergone, increased demand for the drug supplies and other associated things. Thus, Medical Supplies Delivery Services Market has huge demands now a days and in near future. According to United Nations, the Global Geriatric population is about to reach 2 billion by 2050. Which emphasizes the need for timely delivery of drugs, lab specimen, reports and samples etc. This implies that the Medical Supplies Delivery Market will experience a significant growth in the near future.
Key Insights
- As per the analysis done by our research analyst, the Global Medical Supplies Delivery Services Market is estimated to grow with a CAGR 8.16% over the forecast period (2022-2030).
- In terms of revenue, the Global Medical Supply Delivery Services Market size was valued at USD 51.23 billion in 2021 and is estimated to grow to around USD 98.32 billion in 2030
- Due to various driving factors, the Global Medical Supply Delivery Service Market is predicated to grow at significant rate. Higher prevalence of chronic diseases worldwide is a leading cause.
- Based on the Mode of Delivery, Courier delivery service segment has registered the major share in the market. This is due to cost effective and well-developed courier delivery mechanism.
- Based on the Application Segmentation, the Medical Supplies segment accounted for major share in the market.
- Based on the End User Analysis, the Pharmacies segment dominated the major share in the global market.
- By Regional Analysis, Asia Pacific contributes major share in the market.
COVID-19 Impact:
On set of COVID-19 has made a positive impact on the Medical Supplies Delivery Services Market. As the infection was spreading at speedy rate and no effective drug was available for the treatment. This pandemic put a huge pressure on hospitals, clinics, laboratories, and healthcare and medical delivery sector overall. With imposed curfew and lockdowns and phobia associated among the people. The Medical supplies delivery system found boon in disguise. The people relied more on the drug delivery through courier and E-medicine providers during this phase. This resulted in the growth of the Medical Supplies Services Market globally.
Medical Supply Delivery Service Market: Key Drivers & Restraints:
Driving factors:
- Higher prevalence of chronic diseases: Sedentary lifestyles coupled with stress and bad habits has led to increase in number of chronic diseases worldwide. According to WHO, the global prevalence of chronic diseases increased by 57% in 2020 and due to increase in the population density, it is likely to increase further in coming future. This has put a tremendous pressure on healthcare industry as a whole and thus it resulted in the growth of medical supplies delivery services market.
- Adoption of Medical Drones: Adoption of medical drones is creating more opportunities in improving healthcare services, especially in remote and undeserving areas.
Restraints:
- Medical Errors and Risk associated with medical supplies: The courier delivery services providers are not aware about the medical terminologies and they are bound to commit mistakes owing to lack of knowledge about medical field. This is a serious restraining factor.
Medical Supply Delivery Service Market: Opportunities
- Rising Medical Tourism: The emerging economies such as China, India and Brazil are having large population bases. This in turn is a huge market opportunity. As number of infected persons is very large here. The expenditure on healthcare infrastructure is also increasing. So, these countries are able to develop and devise cheaper treatment and diagnosis as compared to North American and European Countries. This is attracting medical tourism in these countries.
Medical Supply Delivery Services Market Scope:
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Attribute
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Details
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Market Size in 2020
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USD 51.23 billion
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Estimated Market Size in 2028
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USD 98.32 billion
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CAGR Growth Rate
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8.16%
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Base Year
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2021
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Forecast Years
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2022-2030.
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Companies Covered
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- DHL
- UPS
- FedEx Corporation
- CEVA Logistics
- The Wing
- LogistiCare Solutions, LLC
- International SOS
- Agility
- Matternet
- Zipline
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis by Segments
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Medical Supply Delivery Service Market: Segmentation
- Based on Mode of Delivery: the global medical supply delivery market is differentiated into Courier services and Drone Delivery Services. Courier services are the most widely used mode of medical supply delivery, as they are fast and reliable. They offer a wide range of services to cater to different needs, such as temperature-controlled delivery, same-day delivery, and delivery of large and bulky items. Drone delivery services are emerging as an alternative to courier services.
- Based on Application: the market is divided into drug supplies, medical supplies, lab specimen & reports, medical emergency services. Medical supplies are the leading segment in the medical supply delivery market. This is due to the rising demand for medical supplies in both public and private healthcare sectors, which is being driven by the increasing prevalence of chronic diseases, the growing aging population, and the rising demand for home healthcare services. Additionally, the growing adoption of telemedicine and digital health solutions is driving the demand for medical supplies, as they are essential for remote patient monitoring and diagnosis.
- By End User Analysis: the market is segmented into Hospitals, Clinics, Pharmacies, Patients, Laboratories & others. Out of these Pharmacies has dominated the market share accounting for a market share of more than 20% in 2021. Additionally, pharmacies have established relationships with insurance providers, which can help reduce costs for customers. Pharmacies also have the infrastructure needed to store and deliver products safely and securely.
Regional Insights:
The Global Medical Supply Delivery Service Market is divided into five key regions namely – North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Asia Pacific is the leading and fastest growing market for global medical supplies delivery services. The region is expected to be the largest market for medical supplies delivery services due to the rising demand for healthcare services. Rapidly growing economies, such as China, India, Japan, and South Korea, which have been driving the demand for medical supplies. The growth of the Asia Pacific Medical Supply Delivery Service Market is driven by the rising demand for medical supplies in the region, increasing prevalence of chronic diseases, growing geriatric population, and the presence of key players.
North America is expected to be the second-largest market during the forecast period, owing to the presence of a high-income population, rising demand for medical delivery services, and increasing prevalence of chronic diseases.
Competitive Analysis:
The Global Medical Supply Delivery Service market is driven by UPS, Agility, DHL, LogistiCare Solutions, LLC, McKesson Corporation, Cardinal Health, The Wing, International SOS, Matternet, Zipline, FedEx Corporation, CEVA Logistics,
Recent Developments:
- July 2020: In July 2020, DHL and Resilience 360 have provided their aid in supporting WHO. The Cloud-based platform Resilience360 company visualizes supply chain risks and contributes to the Global Logistics Cluster’s support to humanitarian organizations in reacting to potential disruptions in real time.
- May 2020: In May 2020 FedEx and Microsoft joined hands to transform and innovate the end-end commerce experience.
Key segments
By Mode of Delivery
- Courier Delivery
- Drone Delivery
By Application
- Drug Supplies
- Medical Supplies
- Lab Specimen & Reports
- Medical Emergency Services
By End Users
- Hospitals
- Clinics
- Pharmacies
- Patients
- Laboratories
- Others
Frequently Asked Questions (FAQs):
Which is the leading segment in the market?
Among Mode of Delivery, the Courier Delivery Segment dominated the market.
What are the key factors driving the market?
Growing number of chronic diseases coupled with the increase in number of clinical trials and funding for the R&D are the driving factors for the market.
Which region will contribute notably towards the Medical Supply Delivery Service Market growth?
Asia Pacific Contributes notably towards the Medical Supply Delivery Service market.
What are the key players in Medical Supply Delivery Services Market?
DHL
UPS
Agility
LogistiCare Solutions, LLC
FedEx Corporation
CEVA Logistics
The Wing
International SOS
Matternet
Zipline