Report : North America Medical Courier Market Forecast to 2031 - 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 5.4% CAGR, the North America Medical Courier Market is Speculated to be Worth US$ 3,441.37 Million by 2031, Says Business Market Insights
According to Business Market Insights' research, the North America medical courier market was valued at US$ 2,385.75 million in 2023 and is expected to reach US$ 3,646.38 billion by 2031, registering a CAGR of 5.4% from 2023 to 2031. Increasing incidence of road accidents and rising prevalence of chronic diseases are among the critical factors attributed to the North America medical courier market expansion.
As per the WHO's Global Status Report on Road Safety 2018, 1.35 million individuals worldwide lose their lives in traffic accidents each year. Additionally, about 3,700 persons worldwide lose their lives in collisions with automobiles, buses, motorbikes, bicycles, lorries, or pedestrians every day. Cyclists, motorcyclists, and pedestrians account for more than half of the fatalities. According to estimates, crashes rank as the seventh most common cause of mortality worldwide across all age categories and the most common death cause for children and youngsters (ages 5 to 29). Today, car accidents claim more lives than HIV/AIDS combined. Moreover, it is projected that between 2015 and 2030, both fatal and nonfatal crash injuries will cost the global economy over $1.8 trillion (in 2010 USD). A number of these road injuries involve serious injuries and demand for blood transfusion. Thus, with rising road accidents, the demand for blood transfusion and surgical hubs is also surging, thus propelling the growth of medical couriers worldwide.
On the contrary, stringent requirements for temperature control and handling hampers the growth North America medical courier market.
Based on product type, the North America medical courier market is segmented into medical supplies and equipment, blood and organs, lab specimens, medical notes, and others. The medical supplies and equipment segment held 52.6% share of the North America medical courier market in 2022, amassing US$ 1,193.57 million. It is projected to garner US$ 1,674.10 million by 2030 to expand at 4.3% CAGR during 2022–2030.
By destination, the North America medical courier market is bifurcated into domestic and international. The domestic segment held 82.1% share of the North America medical courier market in 2022, amassing US$ 1,864.43 million. It is projected to garner US$ 2,742.90 million by 2030 to expand at 4.9% CAGR during 2022–2030.
By service, the North America medical courier market is bifurcated into standard service and rush and on-demand services. The standard service and rush segment held 77.4% share of the North America medical courier market in 2022, amassing US$ 1,756.42 million. It is projected to garner US$ 2,578.69 million by 2030 to expand at 4.9% CAGR during 2022–2030.
In terms of end users, the North America 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 North America medical courier market in 2022, amassing US$ 694.97 million. It is projected to garner US$ 1,032.35 million by 2030 to expand at 5.1% CAGR during 2022–2030.
Based on country, the North America medical courier market is segmented into the US, Canada, and Mexico. The US held 83.4% share of North America medical courier market in 2022, amassing US$ 1,893.40 million. It is projected to garner US$ 2,899.20 million by 2030 to expand at 5.5% CAGR during 2022–2030.
Key players operating in the North America 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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