Report : Middle East & Africa 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 3.1% CAGR, the Middle East & Africa Medical Courier Market is Speculated to be Worth US$ 178.84 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa medical courier market was valued at US$ 140.24 in 2022 and is expected to reach US$ 178.84 million by 2030, registering a CAGR of 3.1% from 2022 to 2030. Adoption of hub and spoke model and growing strategic initiatives are among the critical factors attributed to the Middle East & Africa medical courier market expansion.
A hub and spoke model is a centralized warehousing and shipment system similar to a bicycle wheel's structure. The center of the wheel is the hub or a distribution center, and each spoke represents a delivery direction. The hub-and-spoke model weighs more on the positive side of the spectrum and is a cost-effective and efficient approach. The model encourages consolidation of all the inventory in one place (hub), from where it is delivered timely to different areas (spokes). The hub-and-spoke distribution model allows for planning and optimizing delivery routes around the hub linking to various destinations. The product is packed, shipped to one place, and delivered to multiple locations within the preferred time. It improves the workforce and substantially reduces the delivery time compared to the other model. In addition, with the help of preferred logistics partners, merchants can control inventory centrally, source products from the least expensive suppliers, and deliver goods to customers from local warehouses. Shippers can take advantage of more affordable rates by aggregating their inventory at a centralized point. This less-than-truckload shipment can then be combined to fill a single truckload which can then be dispersed throughout the network. Small-and-medium-sized businesses (SMBs) can negotiate for better rates often associated with full truckload shipments using this model. Thus, all the benefits mentioned above of the hub and spoke model and various initiatives by NHS regarding the hub and spoke model are going to support the Europe medical courier market in the coming years.
On the contrary, stringent requirements for temperature control and handling hampers the growth Middle East & Africa medical courier market.
Based on product type, the Middle East & Africa 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 52.2% share of the Middle East & Africa medical courier market in 2022, amassing US$ 73.20 million. It is projected to garner US$ 87.26 million by 2030 to expand at 2.2% CAGR during 2022–2030.
By destination, the Middle East & Africa medical courier market is bifurcated into domestic and international. The domestic segment held 82.1% share of the Middle East & Africa medical courier market in 2022, amassing US$ 115.12 million. It is projected to garner US$ 143.35 million by 2030 to expand at 2.8% CAGR during 2022–2030.
By service, the Middle East & Africa medical courier market is bifurcated into standard service and rush and on-demand services. The standard service and rush segment held 77.3% share of the Middle East & Africa medical courier market in 2022, amassing US$ 108.45 million. It is projected to garner US$ 134.82 million by 2030 to expand at 2.8% CAGR during 2022–2030.
In terms of end users, the Middle East & Africa 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 30.6% share of Middle East & Africa medical courier market in 2022, amassing US$ 42.92 million. It is projected to garner US$ 53.85 million by 2030 to expand at 2.9% CAGR during 2022–2030.
Based on country, the Middle East & Africa medical courier market is segmented into Saudi Arabia, South Africa, the UAE, Kenya, Ghana, Tanzania, and the Rest of Middle East and Africa. Saudi Arabia held 31.1% share of Middle East & Africa medical courier market in 2022, amassing US$ 43.55 million. It is projected to garner US$ 54.03 million by 2030 to expand at 2.7% CAGR during 2022–2030.
Key players operating in the Middle East & Africa medical courier market are Deutsche Post AG, FedEx Corp, United Parcel Service Inc, and Zipline International Inc, among others.
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