Medical Supply Delivery Service Market size in 2019 is estimated to be $ 5450 million, growing at a CAGR of 6.7% during the forecast period 2020-2025. Medical supply services means the services of medical use that are suitable for use in a health care facility or in the home and that are disposable or semi-disposable and are non-reusable. Growing need of faster transportation and advancement in healthcare system are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall demand for medical supply delivery services during the forecast period 2020-2025.
Medical Supply Delivery Service Market Segment Analysis - By Application
Based on the Application, Medical Supply Delivery Service Market is segmented into Medical Supplies, Drug Supplies, Emergency Services, Lab Specimens & Reports. The medical supplies segment is forecast to grow at a CAGR of 6% during the forecast period 2020-2025. This is mainly owing to the increasing need for faster delivery of medicines required at the time of natural calamities and emergencies. However, many medical devices companies are opting for these services to reduce supply chain costs and provide faster delivery of products further contributing to the growth of the segment.
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Medical Supply Delivery Service Market Segment Analysis - By Mode of Service
Based on the Mode of Service, Medical Supply Delivery Service Market is segmented into Courier Delivery, Drone Delivery. In 2019, courier delivery held the largest share in the Medical Supply Delivery Service Market. This is mainly owing to the rise in the demand for medical courier services to transport sensitive and confidential health care-items which includes paperwork, infusion medicine, prescription medications, medical specimens, lab work, equipment, and supplies.
Medical Supply Delivery Service Market Segment Analysis - By Geography
North America dominated the Market share accounting for 40% of the market in 2019. This is mainly owing to rise in the demand for medical courier services to transport sensitive and confidential health care-items and the increasing adoption of medical courier services for delivering donated organs to the recipient safely on time. According to the Finnish Kidney and Liver Association, in 2019, 453 organ transplants, which include 293 liver transplants, 64 liver transplants, 27 lung transplants, and 39 pancreatic transplants were carried out in the country which are contributing the growth of this market. Rise in organ transplants increased the demand for safe delivery systems.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing disposable income and increasing healthcare expenditure.
Medical Supply Delivery Service Market Drivers
Growing Need of Quick Transportation
The growing need for quick transportation and delivery of drugs and medical supplies at the time of emergencies are some factors driving the market growth of this segment. Moreover, the use of medical drones is significantly increasing in the pharmaceutical sector, owing to the ability to deliver drugs in remote locations at a relatively faster pace are increasing the growth of medical supply delivery service market.
Advancement in Healthcare System
Increasing focus on improving the healthcare system and reducing supply chain costs are some factor driving the growth of the market. Moreover, expansion of healthcare logistics and increasing demand for faster and cost-effective delivery of samples and specimens for testing purposes are contributing to the growth of Medical Supply Delivery Services Market.
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Medical Supply Delivery Service Market Challenges
Lack of proper delivery and logistics infrastructure for the healthcare services are restraining the market growth during the forecast period 2020-2025.
Medical Supply Delivery Service Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Medical Supply Delivery Service Market. Medical Supply Delivery Service top 10 companies are DHL, UPS, Agility, LogistiCare Solutions LLC, FedEx Corporation, CEVA Logistics, The Wing, International SOS, Matternet, Zipline, Flirtey, and Swoop Aero.
Acquisitions/Product Launches:
On May 2019, DHL International GmbH has acquisition with EHang and launch a fully automated and intelligent smart drone delivery solution to tackle the last-mile delivery.
Key Takeaways
In 2019, North America dominates the Medical Supply Delivery Services Market owing to rise in the demand for medical courier services to transport sensitive and confidential health care-items and increasing adoption of medical courier services for delivering donated organs to the recipient safely on time owing to the growing demand for organ transplant surgeries.
Growing need of quick transportation and advancement in healthcare system is driving the market growth of medical supply delivery services.
Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the Medical Supply Delivery Service Market report.
Lack of proper delivery and logistics infrastructure are challenging the growth of the market.
Related Reports :
A. Medical Courier Market
https://www.industryarc.com/Report/15641/medical-courier-market.html
B. Emergency Medical Services Products Market
https://www.industryarc.com/Research/Emergency-Medical-Services-Products-Market-Research-508591
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