Medical Waste Disposal Procurement Intelligence: Key Insights

The medical waste disposal category is anticipated to grow at a CAGR of 6.0% from 2023 to 2030. Appropriate disposal of medical trash is the key challenge for healthcare providers across the globe. Rising awareness about the benefits of proper medical waste management for treatment, recycling, and disposal of medical trash has boosted the growth of the category. According to the World Health Organization Study Report 2022, countries with low income generate over 0.2 kg of medical trash per day per hospital bed, whereas countries with high income generate hazardous waste of up to 0.5 kg per hospital bed each day. Moreover, rising government initiatives and strict rules and regulations for waste management are also expected to drive the category. For instance, in December 2022, an MOU was signed between the Center for Health Environment Research and Development and Can Tho Central General Hospital under USAID’s Reducing Pollution Project. This will unite the Vietnamese government, hospitals, communities, and the private sector to advocate for environmentally friendly procurement, utilization, and recycling of plastic medical trash.

The rising number of diagnostics, along with the expanding healthcare industry, has led to a focus on sustainable medical waste disposal techniques. The objective of sustainable management encompasses diminishing natural resource consumption by promoting reuse, recycling, and material recovery before eventual disposal, with the aim of minimizing environmental impact during waste management. This has led to the adoption of environmentally friendly treatment methods, such as waste-to-energy technologies. Additionally, advancements in technology, such as automation and digital tracking, are improving the effectiveness and efficiency of medical trash removal. The use of nanotechnology can help in reducing costs related to hazardous waste disposal and improve safety. Nanomaterials facilitate innovative biodegradation of harmful substances with minimal impact on the environment. Such advancements have also resulted in streamlining the process, ensuring compliance with regulatory requirements, and reducing errors.

The category is fragmented in nature, with numerous players competing to provide disposal services. Companies such as Daniels and Pureway are competing to provide cost-effective and scalable services, from the collection of trash to the disposal of waste and keeping the neighborhood sanitary. The suppliers in the category may have moderate bargaining power due to the specialized nature of disposal equipment and regulatory compliance requirements. The disposal service providers need to be licensed according to state regulations.

Order your copy of the Medical Waste Disposal Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Suppliers must follow guidelines outlined by regulatory bodies such as DOT, OSHA, and CDC that ensure trash generated by healthcare facilities is safely transported and disposed. For instance, OSHA regulates safety under its Bloodborne Pathogens Standard, which requires that all employees in contact with medical trash should be trained in handling, labeling, storing, and transporting healthcare waste.

Labor, Materials (disposal containers, bags), treatment equipment, repair and maintenance, legal costs, transportation costs, and others are some of the costs incurred in collecting, treating, and disposing of pharmaceutical waste. The cost of overall service depends on the waste management company, the location of the facility, the frequency, and the volume and waste stream generated. The purchase of disposal containers can cost between USD 1,000 and USD 5,000. Autoclave machines used to sterilize waste prior to disposal can cost from USD 7,000 to USD 25,000. One of the crucial factors in providing the service is developing an efficient medical trash removal management system which can have an impact on the overall costs.

In terms of providing medical waste disposal services, service providers usually have a complete in-house team that carries out complete activities from collection to treatment and disposing of waste. For instance, Daniels possesses the finesse, licensing, and compliance expertise required to safeguard the safety, risk, and regulatory responsibilities of healthcare facilities. They oversee tasks ranging from supply of bins to pick up, manifesting, and treatment management. Buyers in the category, such as hospitals, laboratories, and other healthcare facilities, seek out service providers that provide high-volume collection, time-to-time collection services, touchless removal services, and cost-effective services. Buyers also evaluate service providers based on compliance with regulatory requirements, global reach, and reliable service.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Clinical Trial Imaging Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Healthcare Consulting Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Medical Waste Disposal Procurement Intelligence Report Scope

• Medical Waste Disposal Category Growth Rate: CAGR of 6.0% from 2023 to 2030

• Pricing growth Outlook:  6% - 7% (annual)

• Pricing Models: Volume-based pricing, waste type-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier selection criteria: Collection method, capacity, and frequency, technology and tools used for collection, client relationship, track record and reputation, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• Daniels

• Pureway

• Republic Services

• Stericycle

• Clean Harbors

• Sharps Compliance

• Sanpro Waste

• MedPro Disposal

• Citiwaste

• Gamma Waste Systems

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Lab Chemicals Procurement Intelligence: Industry Outlook

The lab chemicals category is expected to grow at a CAGR of 4.3% from 2023 to 2030. The rising research of chemicals in pharmaceutical, healthcare, educational institutions, and research industries is g the category’s growth. Laboratory compounds are essential in diverse scientific fields such as cytokine and chemokine testing, molecular biology, immunochemistry, carbohydrate analysis, cell/tissue culture, and biochemistry. The use of chemicals in carrying out research and development (R&D) activities in these fields is further aiding expansion.

Laboratory compounds, including bromination and cryogenic reactions, are crucial in numerous industrial processes. The demand for these chemicals is anticipated to rise significantly, driven by increased factory demand. These compounds find applications across various sectors, from national defense and healthcare to life sciences and environmental protection. The escalating use of chemical reagents in both commercial applications and research projects is poised to fuel substantial growth in the demand for lab chemicals.

The growing requirements from biotechnology sector may further contribute to this category’s growth, particularly in the DNA and protein sequencing reagents segment. However, the availability of cheaper laboratory chemicals may limit this expansion. The pharmaceutical industry's enhanced productivity, advancements in disease treatment technologies, and increased R&D investments for sustainable consumer goods are key factors fueling the growth of the laboratory chemicals category during the forecast period.

Order your copy of the Lab Chemicals Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Demand for technologies such as data analytics, IoT, AI, and advanced manufacturing is driven by advancements in the chemical sector that prioritize digitalization, decarbonization, and automation. Innovations in chemical manufacturing include the usage of alternative energy resources, and additive technologies with extended reality supporting chemical engineers in overcoming workforce shortages and enhancing employee training. 3D printing is automating processes such as electrochemical device fabrication, digital synthesis, and the development of novel materials. Collaborative robots (cobots) assist technicians in hazardous laboratory settings, accelerating production rates. These advancements collectively drive new trends in chemical manufacturing, positioning them among the top industry trends.

Countries such as China, India, the U.S., and Germany are the major global chemical producers. These countries also continue to invest in R&D activities. For instance, in October 2023, the U.S. Department of Energy (DOE) announced a USD 40 million investment that will propel R&D and technological advancements and reduce energy and carbon footprint manufacturing in the process industries.

The major industry leaders continue making significant investments in research and development to diversify their product offerings. They engage in various strategic initiatives, such as introducing new products, forming partnerships/ collaborations, and pursuing mergers and acquisitions to enhance their industry presence. For instance, in September 2023, Avantor collaborated with Tobin Scientific to provide end-to-end services right from research lab relocation, and sample transportation, to storage services.

Lab Chemicals Sourcing Intelligence Highlights

• Lab chemicals production often requires specific raw materials, which can vary as per vendor. As a result, suppliers can have moderate bargaining power. However, there are usually multiple suppliers for basic chemicals, which reduces the dependency on a single source. As a result, the bargaining power of these basic chemical suppliers is low due to presence of many players.

• The category is highly competitive, with many established players and constant research and development activities. Companies compete based on product quality, price, innovation, and customer service. Differentiated products and specialized chemicals can create brand loyalty, but overall, the competition is intense.

• Raw materials, staff salaries, laboratory supplies, equipment and tools, and energy costs are some of the cost components in the category. Other cost considerations include repairs and maintenance, legal costs, insurance, and packaging and transportation.

• To start a business in this category, a company needs to follow regulations specified by various governing bodies. For instance, according to Occupational Safety and Health Administration (OSHA) health standards 1910.1450(a)(2), is required that specifies the limit of employee exposure to hazardous chemicals.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Methanol Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Industrial Gases Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers 

• Thermo Fisher Scientific

• Avantor

• Merck Group

• Thomas Scientific

• Agilent Technologies

• Perkin Elmer

• TCI America

• BD Biosciences

• AquaPhoenix Scientific

• GE Healthcare

• Bio-Rad Laboratories

Lab Chemicals Procurement Intelligence Report Scope

• Lab Chemicals Category Growth Rate: CAGR of 4.3% from 2023 to 2030

• Pricing Growth Outlook: 5% - 6% (Annually)

• Pricing Models: Volume-based pricing, cost plus pricing, value-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Product range, purity, and grade, end-to-end services, global reach, regulatory compliance, operational capabilities, quality measures, certifications, data privacy regulations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions