Press release
Medical Supply Delivery Service Market Expected to Achieve 11.6% CAGR by 2029: Growth Forecast Insights
Medical Supply Delivery Service
How Large Will the Medical Supply Delivery Service Market Size By 2025?
The healthcare supply delivery sector's market capacity has experienced substantial expansion in the past few years. This market is set to rise from $71.1 billion in 2024 to $79.52 billion in 2025, experiencing a compound annual growth rate (CAGR) of 11.8%. The market's historical progression can be traced back to factors such as the upsurge of e-commerce which directly impacted the market, the evolution of technology and regulatory compliance, the growing need for healthcare services, along with the internationalization of supply chains.
How Big Is the Medical Supply Delivery Service Market Size Expected to Grow by 2029?
The market size of the medical supply delivery service is predicted to experience swift expansion in the ensuing years. By 2029, it is projected to reach a value of $123.14 billion, with a compound annual growth rate (CAGR) of 11.6%. The growth throughout the forecasted period is owed to advancements in healthcare models, the emergence of telemedicine, an emphasis on sustainability, the incorporation of AI and automation, and preparedness for pandemics. Noteworthy trends for the forecast period consist of solutions for 'last-mile delivery', personalized delivery choices, utilization of data analytics for demand prediction, formation of strategic partnerships and collaborations, and implementation of quality control actions.
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Which Key Market Drivers Powering Medical Supply Delivery Service Market Expansion and Growth?
Anticipated growth in the medical supply and delivery service market is largely driven by the surging popularity of telehealth. Telehealth involves the use of electronic data and telecommunications for supporting long-distance medical care. The appeal of telehealth lies in its convenience and easy access, along with the recent advancements in this technology, which were notably accelerated amidst the COVID-19 crisis. It plays a significant role in addressing issues such as provider shortages and managing chronic diseases. Medical supply delivery services dovetail with telehealth by promptly delivering prescribed drugs and indispensable medical supplies right at the end user's doorstep, thereby making healthcare resources more easily accessible. A survey by Rock Health, a health technology firm based in the US, backs this up. Out of 8,014 participants in February 2023, 76% of individuals above 55 and 80% of the total respondents affirmed their usage of telemedicine at least once in their lifetime, a jump of 8% from 72% in 2021. Therefore, the burgeoning demand for telehealth goes hand in hand with the expansion of the medical supply and delivery service market.
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Which Fast-Growing Trends Are Poised to Disrupt the Medical Supply Delivery Service Market?
Leading firms in the medical supply delivery service market are broadening their delivery networks and collaborations, such as instant medical delivery, to suit the changing demands of healthcare professionals, pharmacies, and patients for quick and handy access to medical supplies and medications. Same-day pharmaceutical delivery services provide prompt access to prescription drugs, employing compact facilities equipped with common medicines and efficient processes for quick prescription handling. For example, in March 2024, Amazon Pharmacy, an American online pharmacy business, introduced same-day prescription medication delivery in New York City and the wider Los Angeles region, with plans to extend to more than a dozen US cities by the end of the year. Amazon Pharmacy's goal is to bring medications nearer to customers' homes by using new small-format facilities stocked with frequently prescribed medications for acute circumstances. Its Brooklyn facility offers a concisely picked assortment of over 12,000 medications from Amazon.com, emphasizing on urgent-care needs.
What Are the Emerging Segments in the Medical Supply Delivery Service Market?
The medical supply delivery service market covered in this report is segmented -
1) By Mode Of Service: Courier Delivery, Drone Delivery
2) By Application: Medical Supplies, Drug Supplies, Emergency Services, Lab Specimens And Reports
3) By End-User: Hospitals, Clinics, Laboratories, Pharmacies, Patients, Other End-Users
Subsegments:
1) By Courier Delivery: Standard Courier Delivery, Expedited Courier Delivery, Same-Day Courier Delivery
2) By Drone Delivery: Autonomous Drone Delivery, Remote-Piloted Drone Delivery, Emergency Drone Delivery
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Who Are the Global Leaders in the Medical Supply Delivery Service Market?
Major companies operating in the medical supply delivery service market are CVS Health Corporation, Cardinal Health Inc., United Parcel Service of America Inc., DHL Group, FedEx Corporation, CEVA Logistics AG, SF Express Co. Ltd., La Poste, DPD Group, Canada Post Corporation, Toll Group, Purolator Inc., General Logistics Systems B.V., PostNL, International SOS Services, ModivCare Solutions LLC, Swiss Post, PostNord, Singapore Post Limited, Aramex, Blue Dart Express, Zipline International Inc., Amazon Pharmacy, Econo-Courier, Poste Maroc, Matternet Inc., Hermes Travel & Cargo Pvt. Ltd., Flirtey Holdings Inc
Which are the Top Profitable Regional Markets for the Medical Supply Delivery Service Industry?
Asia-Pacific was the largest region in the medical supply delivery service market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the medical supply delivery service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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