Medical Courier Market Growing with 6.42% CAGR Reach USD 16237.27 million Globally by 2032

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. The global medical courier market size was valued at $9277.34 million in 2022, and is projected to reach $16237.27 million by 2032, registering a CAGR of 6.42% from 2023 to 2032.

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Increase in prevalence of chronic diseases such as cancer and diabetes, surge in ageing population and increased adoption of biopharmaceuticals globally are expected to drive the growth of the medical courier market. Moreover, rise in strategic cooperation among biopharmaceutical companies is expected to complement the growth of the biopharmaceutical industry. The surge in demand for temperature monitoring across healthcare and pharmaceuticals sectors is expected to drive the need for advanced storage solutions, which further accelerates the growth of the market.

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.

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The global population is undergoing a significant aging trend, leading to a surge in the prevalence of cardiovascular diseases and other health issues. According to the World Health Organization (WHO), the proportion of people aged 60 and above is expected to double from 12% to 22% between 2015 and 2050. This demographic shift is particularly pronounced in low- and middle-income countries, where up to 80% of the elderly population resides.

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.

The key players profiled in this report include

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.

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The rise in age-related ailments has resulted in a growing demand for medications, medical equipment, organs, and various other healthcare necessities. To address these needs, the use of medical courier practices has become increasingly proactive. Non-governmental organizations (NGOs) have played a crucial role in meeting the demands for medicines, especially in regions with a high concentration of elderly individuals.

Moreover, there has been a notable development in the medical supply chain, allowing certain suppliers to transport confidential patient notes and reports. This advancement facilitates the seamless exchange of medical information across state and national borders, catering to both interstate and intracountry healthcare requirements. The escalating prevalence of cardiovascular diseases underscores the importance of efficient and confidential medical courier services to meet the evolving healthcare needs of the aging global population.

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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.

Increasing online pharmacy orders is expected to drive the growth of the market in the healthcare sector. In addition, rise in seaborne pharmaceutical transportation is a major factor that drives the medical courier market growth. Moreover, the growing number of initiatives to promote cold chain logistics is anticipated to boost the growth of the market. Further, the rising importance of fast track assistance in the healthcare sector is also driving the growth of the market. For instance, in December 2020, Cainiao Smart Logistics Network, the logistics division of Alibaba Group, partnered with Ethiopian Airlines to launch an airfreight pharma service that will transport temperature-controlled medicines from Shenzhen Airport

Regional Analysis:

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.

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