The latest market report published by Credence Research, Inc. “Medical Courier Market By Application (Hospitals, Diagnostic & Clinical Laboratories, Dental Clinics, Pharmaceuticals & Biotechnology Industries, Blood & Tissue Banks, Public Health Departments, Law Enforcement Agencies/Departments) – Growth, Future Prospects & Competitive Analysis, 2018 – 2026” the global medical courier market was valued at 4,164.5 Mn in 2017 and expected to reach 5,958.0 Mn by 2026 at a CAGR of 4.8% during the forecast period from 2018 to 2026.
Market Insights
The global medical courier market unveils dynamic growth during the forecast period from 2018 to 2026, attributed to expanding signs of progress in delivering quick transportation services to hospitals, medical laboratories, blood centers, and public health departments. Medical courier ensure speedy supply of medical specimens or samples, healthcare products/equipment, and medical records to hospitals & clinics, diagnostic & clinical laboratories, dentist & orthodontist offices, pharmaceuticals & biotechnology industries, blood & tissue banks, public health departments, and law enforcement agencies/departments. Expansion of express delivery systems in developed nations is contributing to better healthcare delivery models with enhanced services. Growth in same day medical courier service provision will also spur revenue growth globally. Few major factors assisting in the market growth are rising healthcare globalization and technological innovation coupled with rising demand for medical specimens or samples, surging number of service providers, and growing awareness across the globe.
Browse the full report Medical Courier Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026 at https://www.credenceresearch.com/report/medical-courier-market
The growth of the market is mainly driven by growing international trade encouraged by the liberalization of trade through various free trade agreements (FTAs). Other factors driving the overall growth include expanded government spending on social care, and expanding home healthcare delivery models. Developing medical tourism in countries like China, India, Brazil, and raising awareness about medical courier service providers in the local regions will gain traction in the coming years. Besides, restraining factors such as the staggering expense of private medical courier care services, on-time delivery with safety and absence of trained staff may hamper the growth of the global medical courier market.
Pharmaceutical & biotechnology industries are increasingly conducting clinical trials and manufacturing key ingredients or specimen in the overseas market. These activities require safe transport of specimens & materials at specified temperatures and within certain timeframes. Improvements in delivery services that can successfully transfer medical products have enabled medical couriers to meet the needs of biopharmaceutical manufacturers and healthcare providers.
Major players in this vertical 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.
Key Market Movements:
- Globally, the medical courier market remains to exhibit a profitable growth with a CAGR of 4.8% for the period from 2018 to 2026
- Based on the applications, hospitals and clinics segment expected to spearhead the market
- Same day delivery model and express medical courier services are gaining more traction in terms of revenue generation during the forecast period
- The U.S. market shall contribute maximum revenue share, attributed to the presence of multinational medical care service providers, sophisticated logistics infrastructure, demand for clinical supplies and specimen from developing nations in the U.S. and Canada.
- Asia Pacific, Eastern Europe, and Latin America, to show promising opportunities at a lucrative CAGR during the forecast period. Increasing private funding, the rise in the number of government & private hospitals in emerging countries such as China & India coupled with rising adoption of medical courier services contribute to the overall market growth.
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Chris Smith
Credence Research
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