Medical Supply Delivery Service Market: Future Trends, Revenue Growth & Leading Players

The global medical supply delivery service market size was valued at USD 48.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2028.

The global Medical Supply Delivery Service Market size is expected to reach USD 101.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.3% from 2021 to 2028. The growing need for ensuring quick, safe, and secure transportation of samples and specimens for testing, reducing logistics costs, and increasing focus on improving the healthcare system is increasing the demand for medical supply delivery services. The increasing incidence of road accidents owing to various factors leading to blood loss and immediate requirement for blood is boosting the market growth. Furthermore, the growing geriatric population, rising incidence of diabetes and hypertension, and the rising surgical procedures for organ transplants are driving the market growth.

The medical supplies application segment accounted for the largest revenue share in 2020 owing to the increasing incidence of chronic diseases, rise in the number of surgical procedures, growing geriatric population, and the increase in the prevalence of chronic diseases across the globe. The lab specimens and reports segment is expected to exhibit the fastest growth rate during the forecast period owing to the growing prevalence of COVID-19 and increasing demand for testing services to combat the disease spread. In addition, the segment is expected to witness an increase in the adoption of these services for the timely supply of time-sensitive samples to avoid contamination.

In 2020, the courier delivery mode of service segment held the largest revenue share due to the rise in demand for medical couriers for transporting confidential and time-sensitive health care items to the end-users. It will include prescription medications, paperwork, medical specimens, lab work, infusion medicine, equipment, and supplies. The drone delivery segment is anticipated to register the fastest growth rate during the forecast period. It is due to the increase in the adoption of drones for timely and contactless transportation of emergency supplies to urban and rural areas, where transportation is expected to be challenging.

The pharmacies end-user segment accounted for the largest revenue share in 2020 owing to the rising prevalence of chronic diseases, technological advancements, increasing demand for drugs and vaccines, and rising adoption of these services to support last-mile delivery of prescription-based and other medications. The patients segment is anticipated to be the fastest-growing segment during the forecast period owing to the increasing prevalence of chronic conditions and growing demand for at-home delivery to avoid in-person visits to pharmacies.

In 2020, Asia Pacific dominated the market. It can be attributed to the rise in the adoption of new technologies, the growing geriatric population, and the increasing demand for blood and blood components required for various procedures. Europe is expected to be the fastest-growing regional market during the forecast period owing to infrastructure investments, higher labor costs amidst workforce shortages, evolving care models, and advancements in warehousing facilities.

Related Press Release@  Medical Supply Delivery Service Market Report

Medical Supply Delivery Service Market Report Highlights

• The medical supplies application segment dominated the market in 2020 due to the increasing incidence of chronic diseases and the growing geriatric population undergoing various minor or major surgical procedures
• By mode of service, the courier delivery segment dominated the market in 2020 owing to the increasing adoption of these services for on-time transportation of time-sensitive healthcare items to reduce turnaround time and avoid contamination
• The pharmacies end-user segment dominated the market in 2020 owing to the rising geriatric population and increasing demand for drugs and vaccines amid the COVID-19 pandemic
• Asia Pacific dominated the market in 2020 owing to a large population and increasing technological advancements in the region