Medical Courier Market size is estimated to reach $6.4bn by 2025 and is poised to grow at a CAGR of 5.9% during the forecast period 2020-2025. A medical courier is a service that ensures the safe and timely transmission of medical equipment, reports, or organs and samples between hospitals and between laboratories and hospitals. As the success of organ transplants is growing rapidly, it is extremely important that donated organs can be delivered safely, securely, and on time to the recipient.
Medical Courier Market Segment Analysis – By Service Type
The global Medical Courier market based on the Service type has Standard Courier services, International Services, Rush and On-Demand, Pallet Shipment and Warehousing and others. Standard Courier services are the most used services. Through this, the medical requirements like blood, organs, medicines and other essentials are transported to other hospitals and healthcare centers prior to the emergency. In addition, Rush and On-Demand service type includes risk factors like time period and transportation facility. The medical essentials need to be delivered within a short span of time and with no minimum damage.
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Medical Courier Market Segment Analysis – By Application
Based on Application, the market is classified into Hospitals, Diagnostic labs, Pharmaceuticals, Blood banks, Medical equipment and Supplies and others. Hospitals segment has highest market share in 2019, and is set to grow over the forecast period (2020-2025) owing to the increasing number of surgeries and the old age population with various amount of diseases.
Medical Courier Market Segment Analysis – By Geography
North America is projected to have the largest share of the Medical Courier market in 2019, and this trend is set to continue over the forecast period 2020-2025, owing to a robust healthcare landscape and a solid reimbursement infrastructure. The region is to be followed in terms of revenue is Europe, this is owing to accompanied by the presence of the most prominent industries in the regional landscape. Another region that is set to produce remarkable growth statistics is the Asia-Pacific region (APAC) owing to growing demand and a large consumer base.
Medical Courier Market Drivers
Success rate of organ transplant
With the rapid increase in the success rate of organ transplants, it is extremely important that donated organs be delivered safely, securely and on time to the recipient. This demand is responsible for the growth of the market over the forecast period 2020-2025. The need to deliver samples to efficient laboratories, pharmaceutical and biotechnology companies is another factor in market growth.
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Medical Courier Market Challenges
Transportation
The trend of actually choosing a medical courier company to deliver medical packages has not yet gained enough grip. Hospitals generally trust their own services, and this can hinder market growth. It is also necessary to meet certain standards and requirements when transporting medical products and not all companies are able to comply with these regulations. This is set to hamper market growth.
Medical Courier Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Medical Courier Market. Key companies of this market include Affordable Courier Solutions, Inc., Aylesford Couriersswine, CitySprint Healthcare, IntelliQuick Delivery, Inc., Best Courier, Americord Registry LLC, Blaze Express Courier Service, Dynamex, DHL International GmbH, FedEx Corporation and Network Global Logistics.
Acquisitions/Product Launches:
In July 2020, DPDHL Group and Resilience360 Support the WFP-led Global Logistics Cluster in Monitoring Supply Chains for the Worldwide COVID-19 Response.
In June 2020, FedEx/Microsoft partnership points to era of supply chain platforms.
Key Takeaways
Geographically, North America had the largest market for Medical Courier in 2019, owing to the advanced health infrastructures and effective reimbursement policies.
Growing organ donation and ease of availability of the requirements is driving the market over the forecast period (2020-2025).
Difficulties in transporting the medical goods to remote areas is estimated to hinder the growth of the target market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Medical Courier Market report.
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