Report : Asia Pacific Medical Courier Market Forecast to 2030 - Regional Analysis - By Product Type (Medical Supplies and Equipment, Blood and Organs, Lab Specimens, Medical Notes, and Others), Destination (Domestic and International), Service (Standard Service and Rush and On-Demand Services), and End Users (Hospital and Clinics, Diagnostic Labs, Blood and Tissue Banks, Pharmacy, In Home Support, Pharmaceutical and Biotechnology Companies, and Others)
At 5.5% CAGR, the Asia Pacific Medical Courier Market is Speculated to be Worth US$ 3,735.17 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Asia Pacific medical courier market was valued at US$ 2,426.29 in 2022 and is expected to reach US$ 3,735.17 million by 2030, registering a CAGR of 5.5% from 2022 to 2030. Growing strategic initiatives and adoption of hub and spoke model are among the critical factors attributed to the Asia Pacific medical courier market expansion.
Several giants operating in the industry are taking strategic initiatives to expand their foothold and support their end users in faster delivery of medical supplies, offer value-based care, and maintain a competitive edge.
For instance, in 2023, Eli Lilly & Company committed US$ 1.15 million to a new cold chain capacity initiative aimed at enhancing drug availability in low- and middle-income nations. Eli Lilly and Company has announced that it will contribute $1.15 million to a new cold chain capacity program, with the aim of facilitating greater access to medications in low- and middle-income countries (LICs). With this funding, 25 Life for a Child partner facilities in Africa, Latin America, the Caribbean, and Southeast Asia will be able to install an estimated 150 medical-grade refrigeration units. Furthermore, renowned investors, such as Cercano Management and Sanofi's Global Health Unit, have contributed an extra US$ 10 million in Series B funding to the online pharmaceutical platform SwipeRx. Its current investors, SIG, Johnson & Johnson, and Patamar Capital, also participated in the round. With its headquarters located in Singapore, SwipeRx plans to use its most recent funding round to expand its platform and pharmacy network in strategic areas, hire more advanced data teams, and engage in specialist healthcare financing and logistics. Additionally, the business operates in Vietnam, Malaysia, Thailand, Cambodia, Indonesia, and the Philippines. Additionally, following the epidemic, UPS has increased the size of its operations hub at Changi Airport in an effort to fulfill the rising demand for e-commerce. In order to make it easier to store shipments temporarily, the extended area also has freezers and refrigerators that can sustain temperatures between -20 and 25 degrees Celsius. Such strategic initiatives are expected to offer prosperous growth opportunities to the players operating in the medical courier market in the region.
On the contrary, stringent requirements for temperature control and handling hampers the growth Asia Pacific medical courier market.
Based on product type, the Asia Pacific medical courier market is segmented into medical supplies and equipment, blood and organs, lab specimens, medical notes, and others. The medical supplies and equipment segment held 51.6% share of the Asia Pacific medical courier market in 2022, amassing US$ 1,251.16 million. It is projected to garner US$ 1,778.92 million by 2030 to expand at 4.5% CAGR during 2022–2030.
By destination, the Asia Pacific medical courier market is bifurcated into domestic and international. The domestic segment held 82.3% share of the Asia Pacific medical courier market in 2022, amassing US$ 1,996.62 million. It is projected to garner US$ 2,991.59 million by 2030 to expand at 5.2% CAGR during 2022–2030.
By service, the Asia Pacific medical courier market is bifurcated into standard service and rush and on-demand services. The standard service and rush segment held 77.5% share of the Asia Pacific medical courier market in 2022, amassing US$ 1,881.22 million. It is projected to garner US$ 2,813.44 million by 2030 to expand at 5.2% CAGR during 2022–2030.
In terms of end users, the Asia Pacific medical courier market is categorized into hospital and clinics, diagnostic labs, blood and tissue banks, pharmacy, in home support, pharmaceutical and biotechnology companies, and others. The hospital and clinics segment held 30.7% share of Asia Pacific medical courier market in 2022, amassing US$ 743.77 million. It is projected to garner US$ 1,122.75 million by 2030 to expand at 5.3% CAGR during 2022–2030.
B Based on country, the Asia Pacific medical courier market is segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. China held 27.4% share of Asia Pacific medical courier market in 2022, amassing US$ 664.38 million. It is projected to garner US$ 1,055.99 million by 2030 to expand at 6.0% CAGR during 2022–2030.
Key players operating in the Asia Pacific medical courier market are Deutsche Post AG, FedEx Corp, MNX Global Logistics Corp, United Parcel Service Inc, and Zipline International Inc, among others.
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