"Medical courier market to exhibit productive growth during the forecast period"

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"

Major players in the medical courier market are FedEx Corporation, DHL International GmbH, Americord Registry LLC, Network Global Logistics, United Parcel Service of America, Inc., Medical Couriers, Inc., Medical Courier Services Ltd., Aylesford Couriers Ltd., CitySprint (UK) Ltd, MedLine Express Services, Inc., IntelliQuick Delivery, Inc., Blaze Express Courier Service, and others. 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. For instance, TFI International acquired the ground transportation business of World Courier in the U.S. from pharmaceutical distributor AmerisourceBergen Corp. Americord Registry LLC deals with faster and safe transportation of cord blood and cord tissue, additionally, it also eradicates extra charge for the express medical couriers. Therefore, faster and cost effective services by top service providers will stimulate the overall market growth during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Medical Courier market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Medical Courier market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Medical Courier market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Medical Courier market?
• Which is the largest regional market for Medical Courier market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Medical Courier market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Medical Courier market worldwide?