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(Health-NewsWire.Net, January 24, 2022 ) Medical Supply Delivery Service market size was estimated at $48 billion in 2020, growing at a CAGR of 6.1% during the forecast period 2021-2026. Medical supply delivery service refers to medical-related services that include healthcare logistics that are disposable or semi-disposable and non-reusable and are used at a healthcare institution or home. Urine, medicine, blood, and equipment are examples of medical drug supplies that can be transported from one location to another. Medical samples are time-sensitive and require an immediate transfer between doctors, clinics, and hospitals, making this a critical market. There are two modes of services such as courier and drone. Medical drones provide rapid assistance, reducing travel time to the patient, reducing problems in the injured due to a short time to wait for rescue, support, and enhancement of medical emergency teams' fundamental operations. The growing need for rapid transportation and delivery of drugs and medical supplies during emergencies is the major factor driving the growth of the market. Increasing demand for faster and cost-effective delivery of samples is set to further enhance the overall market development of the Medical Supply Delivery Service Market for the period 2021-2026.
Medical Supply Delivery Service Market Segment Analysis – By Mode of Service
Based on the mode of service, the Medical Supply Delivery Service market is segmented into Drone Delivery and Courier Delivery. Courier Delivery held the largest share in the Medical Supply Delivery Service market in 2020. Rise in demand for cost-effective medical courier services to transport sensitive and confidential healthcare materials such as documentation, infusion medicine, prescription drugs, medical specimens, lab work, equipment, and supplies, thereby increasing the Medical Supply Delivery Service market. However, Drone delivery is estimated to register a higher CAGR of 7.1% during the forecast period 2021-2026 owing to the increased use of medical drones that has the potential to improve healthcare services, particularly in distant and underserved areas, by enabling just-in-time delivery, lowering costs for routine prescription care, and shortening lab testing turnaround times.
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Medical Supply Delivery Service Market Segment Analysis – By Application
Based on the application market for Medical Supply Delivery Service is categorized in Emergency Services, Drugs Supplies, Medical Supplies, and Lab Specimens & Reports. Medical Supplies held the largest share in the Medical Supply Delivery Service market in 2020. Increase in the use of medical drones to transport essential medical supplies to the remote regions during emergencies and pandemics, thereby increasing the Medical Supply Delivery Service market. However, Emergency Services is estimated to register a higher CAGR of 6.9% during the forecast period 2021-2026, owing to the demand for emergency services is expected to rise as the incidence of vehicle accidents, injuries, and infectious infections rise.
Medical Supply Delivery Service Market Segment Analysis – By Geography
North America dominated the Medical Supply Delivery Service market with a significant share of 42% in 2020. This is attributed to the growing adoption of new technologies coupled with establishing healthcare infrastructure in this region. Furthermore, an increasing number of companies collaborating with transport services providers for the faster delivery of various medical supplies in an emergency is also contributing to the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to rising awareness about the advantage of drones at the time of emergencies in the region and contributing to the growth. The increasing improvement in healthcare infrastructure coupled with rising research and development activities is also increasing the growth of the market in this region.
Medical Supply Delivery Service Market Drivers
Increasing Number of Road Accidents.
The increasing number of road accident injuries which leads to a rise in the need for emergency services is increasing the growth of the Medical Supply Delivery Service Market. According to a report by World Health Organization (WHO) in 2020, nearly 1.35 million people die each year in traffic accidents, and between 20 and 50 million more people suffer non-fatal injuries, with many of them becoming disabled as a result of their injuries. Additionally, an increase in advancement in healthcare infrastructure is also practiced to increase the growth of the Medical Supply Delivery Service market during the forecast period 2021-2026.
Rising Government Initiatives.
Increasing government initiatives to spread awareness about unwanted abortions and pregnancies is increasing the growth of the Medical Supply Delivery Service market. Favorable government initiatives support the use of medical drones to deliver drugs, blood, vaccines, and test samples in a timely manner. For Instance, Tanzania's government announced a partnership with DHL in 2018 to launch a medical drone delivery program thereby increasing the growth of the Medical Supply Delivery Service Market during the forecast period 2021-2026.
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Medical Supply Delivery Service Market Challenges
Lack of Proper Infrastructure
Major factor that is set to impede the growth of the Medical Supply Delivery Service market is lack of proper delivery and logistics infrastructure. Another factor which hampers the development of the market is low awareness about advanced delivery services among the people.
Medical Supply Delivery Service Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Medical Supply Delivery Service Market. In 2020, the Medical Supply Delivery Service Market share is consolidated by the top ten players present in the market. In the Medical Supply Delivery Service Market, top 10 companies are DHL, FedEx Corporation, UPS, Agility Logistics, ModivCare Solutions, LLC., Zipline, CEVA Logistics, Flirtey, Matternet Inc., and International SOS.
Medical Supply Delivery Service Market Development:
In April 2019, Zipline, a California-based automatic logistics company, and The Ghanaian Government launched a drone delivery network to deliver 148 critical supplies to patients across Ghana on demand, including vaccines, blood products, and pharmaceuticals.
Key Takeaways
North America dominated the Medical Supply Delivery Service Market in 2020 owing to the increasing adoption of new technologies in this region. The Medical Supply Delivery Service Market scope for different regions will be provided in the final report.
Increasing demand for emergency medical services owing to the rise in road accidents is set to aid the market growth of the Medical Supply Delivery Service Market report.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Medical Supply Delivery Service Market report.
Lack of proper infrastructure for healthcare services is poised to create hurdles for the Medical Supply Delivery Service Market.
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