Wilmington, Delaware, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Medical Courier Market by Service Type (Domestic and International), and Product Type (Medical Supplies and Equipment, Lab Specimens, and Medical Notes): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global medical courier industry size generated $9.2 billion in 2022 and is anticipated to generate $16.23 billion by 2032, witnessing a CAGR of 6.42% from 2023 to 2032.
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- 125 - Tables
- 46 - Charts
- 298 – Pages
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Prime Determinants of Growth
The global medical courier market has experienced significant growth and transformation, driven by the development of e-commerce industry, growth of pharmaceutical sector, emergence of last-mile deliveries coupled with logistics automation.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $9.2 Billion |
| Market Size In 2032 | $16.2 Billion |
| CAGR | 6.4% |
| No. Of Pages in Report | 289 |
| Segments Covered | Service Type, Product Type, And Region. |
| Drivers | Development Of E-Commerce Industry Growth Of Pharmaceutical Sector |
| Opportunities | Emergence Of Last-Mile Deliveries Coupled with Logistics Automation |
| Restraints | Poor Infrastructure and Higher Logistics Cost |
Key Advancements in the Medical Courier Sector
- In September 2022, German courier DHL acquired a majority stake in Dutch order processor Monta, enhancing its capabilities for small and medium-sized web shops.
- June 2022 saw DHL Parcel UK forging a partnership with ZigZag, a leading ecommerce returns technology platform. Retailers like Selfridges, GAP, and Superdry now leverage DHL’s Just Right Returns service through ZigZag’s extensive network.
- Deutsche Post DHL Group expanded its logistics footprint in Florstadt, Germany, with a new 32,000-square-meter facility inaugurated in July 2021. Specializing in pharmaceuticals and medical products, this facility strengthens DHL's European service coverage.
- December 2020 marked a strategic partnership between Deutsche Post AG (DHL Group) and UK logistics provider Baxter Freight. This collaboration enhances freight transport capabilities within the UK and between the UK and continental Europe, providing DHL customers with access to Baxter Freight's extensive network.
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The medical supplies and equipment segment to maintain its leadership status throughout the forecast period
On the basis of product type, the medical suppliers and equipment segment held the highest market share in 2022, and the highest CAGR of 6.7% is estimated to maintain its leadership status throughout the forecast period. This is attributed to surge in hospitals, clinics, ambulatory centers, urgent care centers where there is demand for medical devices and equipment such as MRI machines, lasers, lab equipment, and others. However, the lab specimens segment is projected to grow with a CAGR of 3.9% from 2023 to 2032, due to increase in prevalence of chronic diseases such as cancer and diabetes, surge in ageing population, and increased adoption of biopharmaceuticals globally.
The domestic segment to maintain its leadership status throughout the forecast period
On the basis of service type, the domestic segment held the highest market share in 2022 witnessing a CAGR of 5.6% in the forecast period, due to easy availability, convenient shopping experiences, and heavy discounts, offers, and deals which have made the e-commerce a popular medium for purchasing various medical products domestically. However, the international segment is projected to witness the highest CAGR of 6.9% from 2023 to 2032, owing to the rising cross-border trade activities.
Asia-Pacific to maintain its dominance by 2032
On the basis of region, Asia-Pacific held the highest market share in terms of revenue in 2022 and is estimated to witness a CAGR of 5.6% due to the high growth of e-commerce coupled with the rise in the pharma trade sector in Asia-Pacific drives the demand for medical courier in the region. However, the LAMEA region is expected to witness the fastest CAGR of 7.9% from 2023 to 2032, owing to the emergence of last-mile deliveries coupled with logistics automation.
Key Highlights of the Global Medical Courier Market Report:
- Encompassing 14 countries, this report offers comprehensive regional and segment analysis, presenting the market's projected value ($million) from 2023 to 2032.
- The study seamlessly integrates high-quality data, expert opinions, and critical independent perspectives. This research methodology ensures a balanced view of global markets, empowering stakeholders to make informed decisions for ambitious growth objectives.
- A thorough review of over 3,700 materials, including product literature, annual reports, and industry statements from major industry participants, enhances understanding of market dynamics.
- Industry leaders strategically leverage product launches, contracts, expansions, agreements, and other initiatives to enhance their market positioning.
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Leading Market Players: -
- Affordable Courier Solutions, Inc.
- Aylesford Couriers
- CitySprint (UK) Ltd
- IntelliQuick Delivery, Inc.
- Blaze Express Courier Service
- Cencora, Inc.
- DHL International GmbH
- FedEx Corporation
- MNX
- Reliant Couriers & Haulage Ltd
The report provides a detailed analysis of these key players in the global medical courier market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Logistics Industry:
Pharmaceutical Logistics Market Research Report 2023-2032
Healthcare Logistics Market Research Report 2023-2032
Courier, Express, and Parcel (CEP) Market Research Report 2023-2032
Courier Services Market Research Report 2023-2032
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