Medical Supply Delivery Service Market – Overview and Outlook by Potential Growth (2024-2032)

Description

Medical Supply Delivery Service Market Synopsis:

Medical Supply Delivery Service Size Was Valued at USD 59.05 Billion in 2023, and is Projected to Reach USD 120.08 Billion by 2032, Growing at a CAGR of 8.2 % From 2024-2032.

The Medical Supply Delivery Service Market means those products that are used to transport medical supply, equipment, medicine and lab samples from one healthcare institution to another such as hospitals, clinics, pharmacies and other such institutions. This market has of recently gained so much importance in order to meet the delivery and continuation of supplies and treatment of patient especially during the COVID 19 pandemic period.

The global medical supply delivery service market has exhibited a lot of growth in the past several years because of the need for service delivery and the more availability and steady growth of health care facilities around the globe. Supply chain management has been on the rise more so with the growing emphasis on patient centred care coupled with better operational efficiency in healthcare organizations. Health organizations particularly hospitals, clinics and laboratory insist on a steady source of medical essentials like medicine, specimens and diagnostic instruments for everyday use by the organization and for the provision of quality service to the patients. Chronic diseases also continue to increase in the population as well as the coverage area also increasing the need for strong delivery services. Furthermore, the same technological changes have offered the companies a good beat to establish perfect supply chains especially for emergency and temperature sensitive medical products.

Another influencing factor is the increase in home healthcare delivery which has escalated the last mile delivery of health products and tools to patients’ homes. Due to more patients being able to access remote healthcare services such as tele- medicine and tele-health, patients require safe and efficient means of receiving their required medicines, diagnostics and other equipment they require when they are at home. This has been occasioned with the new emerging delivery services and firms that handle the delivery of commodities that require compliance to sensitive and regulatory health care products. It is predicted that future growth of this sector will be driven by the unique delivery technologies such as delivery drone, self-driving delivery vehicle, and real-time tracking facility, etc.

Medical Supply Delivery Service Market Trend Analysis:

Technological Integration in Medical Supply Delivery

Of the emerging trends affecting the medical supply delivery service market, new technologies aimed at enhancing delivery performance and security are the most profound. Like real time GPS tracking, temperature control and UAV delivery are fond to see that medical stocks get their rightful owner in perfect okay condition. GPS tracking system in real-time make the buyers and suppliers in the healthcare sector more satisfied to monitor their supply status. Temperature controlled logistics services are very crucial in distribution of medical commodities like vaccines, biological specimens and temperature sensitive drugs. Besides, innovation such as use of drones is disrupting the environment through providing fast and genial delivery to the hitherto unreachable terminus. It comes in handy in disaster areas or even where most real roads may not be easily found. In future, there will be more firms deploying these solutions through enhanced technological improvements which facilitate faster, reliable and affordable medical supply deliveries.

Growing Demand for Rural and Remote Healthcare Delivery

The other emerging current trend that is recognized in the medical supply delivery service market is the the notion of extending delivery services especially to the most rural and remote parts of the country. Healthcare challenges that denied most of the already scarce health centers are also characterized by an inadequate and often delayed supplies of medical products. Such oversights in healthcare delivery have helped explain the development of other specialized solutions for rural health care delivery system. Proposed solutions discussed are; securing cooperation with the local transport companies, using drones to access the area and opening more specialised stores to facilitate distribution and make it faster. Besides, telemedicine and other remote health care services delivery has become an inevitable activity, for delivery of medications, medical equipment and diagnostic supplies to patients in the underserved areas. They are also involved in these schemes, which form collaboration and funding for firms that offer medical facilities from a distance. This change is effective not only in saving lives of some patients in the remote area but it expands a possibility of a huge expansion for the medical supply delivery services.

Medical Supply Delivery Service Market Segment Analysis:

Medical Supply Delivery Service is Segmented on the basis of Service Type, Mode of Delivery, Delivery Type, and Region.

By Service Type, Pharmaceutical Supplies segment is expected to dominate the market during the forecast period

The market study on the Medical Supply Delivery Services is anticipated with respect to the Pharmaceutical Supplies segment dominating the overall market for the forecast time frame. Growing concern for patient-centred care systems and home-delivery of products like drugs, vaccines and other specialty products has largely raised demand for safe and secure distribution. Pharmaceutical products are fragile and may need to be stored and transported in sometimes under certain temperatures to get to the hospitals or the pharmacy or even the patient. Because of the expanding need for medication compliance and growth in chronic disease self-management programs, the segment for delivering pharmaceuticals is believed to grow strongly. Several delivery service providers have been developing new strategies in freight management also known as cold chain management to ensure that these pharma products are not rendered ineffective. Bigger meaning of this segment is given by a continuous need for the emergency drug delivery especially owing to the epidemic or a demand deficit.

By Mode of delivery, the Courier segment expected to held the largest share

Booking Medical Supply Delivery Service acquires the largest market share to the Courier segment owing to its advantage, reliability and rapid delivery service to the developed as well as developing regions. Some of the duties of the couriers include conveying aEntity of various health care products including surgical apparatus, diagnostic apparatus and specimens and drugs. Due to the recent transformations focusing on patient centred care with a huge shift on home-based care delivery logistics courier services and have reacted positively by providing last mile delivery services, delivery at convenient time and consignments handling. Some of the courier services have also embarked on training its employees so that they understand the importance of handling health care products especially the temperature sensitive ones. This means that healthcare organisations will need good courier services and what is more they will need to track the location of the delivery which will give added assurance as to where it maybe at any one time.

Medical Supply Delivery Service Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

Hence, North America will continue to dominate the global market for medical supply delivery service over the forecast period due to developed healthcare infrastructure, ongoing advancement of logistics solutions, and rising concern towards effective delivery of healthcare. Therefore, with the growing desire of healthcare manufacturers to elevate the efficiency of supply chain, patients’ treatment and organizing the delivery of products to districts in the United States with no access to such supplies before, the necessity of delivery services has risen. The HC tech which is based in the US still has huge deposits towards hi-tech technologies including equipment tracking in real-time, temperature delicate products, and drones transport of crucial healthcare products.

Canada also contributes its share to make North America to dominate on the market supply of medical equipment delivery. The health sector requires competent delivery services to convey the products to various points throughout extensive regions of the country where most people live in rural areas with little opportunity to acquire the rare health facilities. It is consequently important for health care practitioners and the government in Canada to engage with private systems of logistics organisation in order to increase the delivery of health care in these regions. In addition, high regulations of how medical supplies are handled and transported to reach several patients safely and accurately puts North America in a right compliance to lead other regions.

Active Key Players in the Medical Supply Delivery Service Market:

Agility (Kuwait)

AmerisourceBergen Corporation (US)

Angel Flight West (US)

Cardinal Health (US)

DHL (Germany)

DSV (Denmark)

FedEx (US)

International SOS (Singapore)

Matternet (US)

Medline Industries, Inc. (US)

Owens & Minor, Inc. (US)

PostNL (Netherlands)

Royal Mail Group (UK)

Savioke (US)

Zipline International Inc. (US)

Other Active Players