Asia Pacific Medical Courier Market Forecast to 2030 - Regional Analysis - By Product Type, Destination, Service, and End Users

The Asia Pacific medical courier market was valued at US$ 2,426.29 million in 2022 and is expected to reach US$ 3,735.17 million by 2030; it is estimated to grow at a CAGR of 5.5% from 2022 to 2030.

Adoption of Hub and Spoke Model Fuels the Asia Pacific Medical Courier Market

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.

Asia Pacific Medical Courier Market Overview

The Asia Pacific medical courier market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Increasing awareness about the use of drones for the delivery of medical supplies such as vaccines and medicines in hard-to-reach or difficult terrain regions in India, Japan, and other countries is favoring the Asia Pacific medical courier market growth in this region. In India, the Indian Council of Medical Research (ICMR) conducted a training program for the effective transfer of medical supplies such as medicines, blood packages, diagnostic samples, and vaccines in January 2022. When the program was initiated by ICMR, the research groups carried out a two-phase study to evaluate if drones could perform well in India. In the Phase I study, ICMR collaborated with IIT-Kanpur, where they analyzed that drones are an effective and reliable mode of vaccine transportation for predefined objectives and paths. In Phase II, ICMR conducted a study in real-life settings by delivering medical supplies in the State of Manipur and Nagaland using these drones. After the successful completion of these two studies, ICMR started to train people involved in delivering medical supplies through drones to further associate them with the Universal Immunization Program (UIP). In April 2022, Toyota Tsusho Corporation and Zipline rolled out Japan's first long-distance drone delivery route. Through this route, the companies would deliver medical supplies (prescription drugs) to remote Gotō Islands of Japan. Zipline has partnered with the Government of New South Wales, Australia, to facilitate an on-demand delivery of essential medical supplies to hospitals and other healthcare facilities in the state by using Zipline drones. In addition, in February 2021, Swoop Aero signed a deal with chemist chain TerryWhite Chemmart to deliver medicines within the 130 km range of Goondiwindi city. In February 2021, the Department of Health of the Northern Territory (NT) Government and Charles Darwin University entered into a partnership with iMOVE to fund a project that focuses on integrating drones into NT health. The project aimed to develop custom-made medical drones and trial them for the delivery of medicines in the Northern Territory of Australia. Hence, the increasing awareness and use of drones for the delivery of medical supplies in remote areas is fueling the growth of the Asia Pacific medical courier market.

Asia Pacific Medical Courier Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Medical Courier Market Segmentation

The Asia Pacific medical courier market is segmented based on product type, destination, service, end users, and country.

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 the largest share in 2022.

By destination, the Asia Pacific medical courier market is bifurcated into domestic and international. The domestic segment held a larger share in 2022.

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 a larger share in 2022.

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 the largest share in 2022.

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 dominated the Asia Pacific medical courier market in 2022.

Deutsche Post AG, FedEx Corp, MNX Global Logistics Corp, United Parcel Service Inc, and Zipline International Inc are some of the leading companies operating in the Asia Pacific medical courier market.

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