The global medical courier market is growing steadily as a direct effect of the rising trends in the same day delivery and express delivery segment. Expansion of healthcare transportation/logistics and growing demand for faster delivery of samples and specimens for diagnostic or testing purposes generates maximum revenue share in the market.
Moreover, manufacturers are focused on reducing logistics cost along with enhancing better healthcare delivery model in various fields such as pharmaceuticals & biotechnology industries, hospitals, medical laboratories, clinics and public health departments.
Increasing need for samples and equipment in pharmaceuticals and biotechnology industries will enhance the overall expansion of medical courier market, globally. Various multinational medical courier service providers are offering 24/7 or STAT services with more safety and lowest response times.
On time delivery and route optimization is vital in medical couriers, as items such as samples and other organ specimens are unusable if not delivered on time. Growing need for organ transplants is a crucial factor supplementing the overall growth in medical courier market.
However, risk of compromising quality due to rush for delivering products in shortest time and lack of trained staff hampers the overall growth in developing nations. Additionally, dependency on own services by hospitals with limited external logistics support is restricting the market growth in few regions.
Pharmaceutical and biotechnology companies to witness significant Growth
The medical courier services show fruitful growth in the pharmaceutical and biotech segment. Manufacturers and distributors are hiring third-party services with reasonable rates compared to conventional in-house shipping costs. Various small-scale service providers offer specialized solutions such as same-day delivery, STAT delivery, express delivery, and shipment tracking. In addition, the hospitals & clinics segment is expected to command the market over the forecast period owing to rising demand and adoption of medical supplies by these healthcare facilities.
Improvement in global logistics along with clinical trial logistics, cell and gene therapy, and direct to patient models are enhancing the growth in the applications segment. The standard supply chain services along with customized services for pharmaceutical storage and other industrial solutions will grow exponentially during the forecast period.
High demand, and presence of top players holds North America in dominant position
At present, North America (dominantly, the U.S.) generates revenue share in the global market due to presence of some of the biggest medical courier service providers. Enhancement in clinical supply model along with commercial distribution will spur revenue growth during the forecast period.
Top service providers are observed to be partnering with medical laboratories, pharmacies, blood centers, home health agencies, and veterinary laboratories globally. Multinational firms provide quick transportation of supplies while eliminating fragmentation and redundancies with a centralized and streamlined process by reducing the overall cost of shipment.
On the other side, rising establishment of special economic zones (SEZs), export processing zones (EPZs), and free trade zones (FTZs) by various Asian governments have a supportive role in the lucrative market growth of Asia Pacific.
Other prominent factors include business opportunities in the private sector and development of cross-border e-commerce of physical goods is contributing to a significant market share in the market. However, high cost, limited availability of courier services for clinical supplies, lack of staff, and complexity in customs, export procedures and documentation are limiting the growth of the medical courier market.
Dominance of multinational service providers with strong brand image in the developed regions
The topmost corporations are initiating faster and safer express delivery in developed nations. Additionally, acquisitions, collaborations, partnerships with smaller service providers, healthcare organizations and public health firms will further drive revenue growth in the coming years.
Key questions answered in this report
What are the current and future trends in medical courier market?
What are the prevailing dynamics in the private courier business and valuable opportunities for emerging players?
How the medical courier supply demand and shortage is affecting the global market?
How is the medical courier progressing in developing economies along with import export consumption?
Which application segment accounts for the fastest CAGR during the forecast period?
Which application type holds prominent market share and why?
What is the impact of high cost of same day delivery and express delivery in the medical courier market?
What are the services and brands in the medical courier industry that are growing more significantly and why?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Medical Courier (MC) Market: Market Dynamics and Future Outlook
Chapter 4. Global Medical Courier (MC) Market, by Application, 2019 - 2029 (US$ Mn)
Chapter 5. Global Medical Courier (MC) Market, by Geography, 2019 - 2029 (US$ Mn)