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

Metal Finishing Procurement Intelligence: A Roadmap to Success

The metal finishing category is anticipated to grow at a CAGR of 4.7% from 2023 to 2030. The process of applying a metal coating to the metallic component’s surface, usually known as a substrate, is referred to as metal finishing. A few major types of metal finishing are abrasive blasting, powder coating, electroplating, passivation, electropolishing, buff polishing, hot blackening, etc. Electroplating, or the process of placing metal ions on a substrate using an electric current, is an integral aspect of metal finishing. Two popular bulk electroplating techniques are barrel plating and rack plating. By end-user industry, automotive and electronics industry applications account for more than 50% - 60% of the total share.

As a trend, metal elements are becoming increasingly popular as a finishing touch for surfaces, especially in commercial settings such as bar tops, washroom vanities, tabletops, etc. In terms of finish, silver and brass are the most popular choices among consumers. Another key trend is the rising advancements in the medical diagnostics sector. In particular, spectrometry-based diagnostic technology is driving the demand for noble metal surfaces such as palladium, gold, and platinum. Following the pandemic, there has been a high demand for plating solutions that can produce high quality or purity surfaces. In the medical industry, the standards for these surfaces' quality are getting stricter. One instance is the use of platinum in medical instruments that are required for blood analysis.

The metal finishing industry is being driven by the increasing need to streamline operations, advancements in additive manufacturing and 3D printing, and the high demand for EVs. Similar to the rest of the manufacturing industry, finishers and coaters are seeking ways to streamline their operations. To overcome obstacles such as labor shortages, quality control, and repeatability, finishers are increasingly finding ways to employ robotics and industry 4.0 solutions. Finishing operations have traditionally been slow to adopt IoT and automation solutions, but in recent times, the finishing industry has been ramping up. On the other hand, with the advent of EVs, many electrical components and battery parts will require finishes as automotive OEMs invest heavily to enhance their EV capability offerings. In addition to exterior finishes, EVs also require specialized coatings for corrosion protection and thermal management. This will further boost category demand.

Order your copy of the Metal Finishing 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

The metal finishing category is highly fragmented and unorganized. The industry is mostly dominated by numerous small regional/local players spread throughout the country. Hence the bargaining power of suppliers is moderate to low owing to low switching costs for buyers. Heavy metals, cyanide, and volatile organic compounds are among the hazardous air pollutants that can be released during electroplating processes. Hence, metal finishing companies are increasing their investments in upgrading their technology or processes that can reduce the environmental impact as part of their ESG efforts. In many cases, the vendors are using a lot of recycled metal content in their designs. In an effort to widen the customer base, many suppliers, especially in the electroplating industry, are concentrating on offering a combination of metal finishing and other technical premium services.

The major cost components in this category include metal finishing chemicals, processes, machinery and technology, labor, electricity, facilities and utilities, and others. Other costs can include marketing, tax, administrative expenses, insurance, etc. In a custom metal finishing project, labor accounts for the majority of the project's cost. In general, standard post-production procedures include passivation, painting, powder coating, sanding, cleaning, etc. In the powder coating process, depending on the use case, powder materials can include nylons, polyesters, epoxies, or any other chemistries. Similarly, for corrosion protection, plating metals can include zinc, chromium, nickel, aluminum, etc. In the electroplating sector, nickel continues to remain as the most sought-after metal owing to its properties of wear and corrosion resistance, luster, and brightness.

At the end of September 2023, global nickel prices reached USD 19,500 per ton. The prices have fallen months after fluctuating between USD 20,000 and 22,000 per ton in 2023. According to the Crux Investors 2023 report, this drop is a short-term blip as nickel has continued to show bullish momentum due to accelerating demand from EVs. The nickel demand from the EV segment continues to observe a 50% - 60% growth annually. As a result of the Indonesian export ban and other policies of resource nationalism, nickel supply uncertainty from major producing areas like Indonesia and the Philippines has increased. This in turn tightens nickel availability outside of China. Hence nickel prices are expected to strengthen till 2024 - 2025.

Metal finishing processes are usually outsourced by many large companies. End-user companies such as automotive OEMs or electronic companies prefer to adopt a hybrid outsourcing model. By outsourcing, end-user companies focus on developing new products or expanding their product lines which has the potential to drive more revenue. From an outsourcing benefit viewpoint, finishing companies have specialized equipment in addition to other engineering or chemical services, which will produce better results in a cost-effective way. Selecting a supplier that has the proper finishing chemicals and can provide high-purity surface finishes according to industry (client’s focus) specifications and requirements, evaluating vendors based on equipment, automation tools, and technology, and checking the quality of the end product are some of the sourcing strategies considered in this category. Suppliers' adherence to standards such as OSHA, US EPA, metal finishing effluent guidelines like 40 CFR Part 433, REACH compliance, etc. are also carefully considered. 

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

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

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

Metal Finishing Procurement Intelligence Report Scope

• Metal Finishing Category Growth Rate: CAGR of 4.7% from 2023 to 2030

• Pricing Growth Outlook: 5% - 9% (Annually)

• Pricing Models: Contract-based and cost-plus model

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

• Supplier Selection Criteria: By application area (marine, industrial and general, automotive OEM), by type of finish (electroplating, zinc plating, anodising), automation tools, operational and functional capabilities, technology used, 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

Key Companies

• OC Oerlikon Management AG

• Honeywell International Inc.

• Atotech

• Elementis PLC

• Delstar Metal Finishing Inc.

• Metal Finishing Technologies, LLC

• Industrial Metal Finishing

• The Diamond Metal Finishing Co Ltd.

• Karas Plating Limited

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

A Deep Dive into Household Cleaners Contract Manufacturing Procurement Intelligence

The household cleaners contract manufacturing category is anticipated to witness growth at a CAGR of 11.0% from 2023 to 2030. In 2022, Asia Pacific held a substantial share of the global category, followed by North America and Europe. This dominance is mainly attributed to the rising disposable income and emphasis on cleanliness and hygiene, which has raised demand for household cleaners. The growth is further fueled by an increase in the number of local manufacturers. Key players based out of Asia Pacific are focusing on developing multi-purpose and organic products with an objective to increase their market share. In addition, the North America region is home to cutting-edge facilities and technologies. These technologies are used by the household cleaner contract manufacturing service providers to produce better goods and services and gain a competitive advantage.

Based on service type, the category is dominated by the manufacturing segment. The services offered in this category enable the businesses (band owners) to reduce equipment & machinery costs. The cost of buying massive machinery and keeping it maintained, repaired, or replaced requires fewer resources. It also eliminates the need to pay personnel to manufacture goods internally. It can be expensive to hire whole teams of experts, researchers, and manufacturers, paying them full wages and perks. Service providers may not charge a client for the personnel or equipment they own. They simply have to pay the total agreed upon in the contract, plus any other applicable fees or costs. In addition, a business can put all of the money and resources it saves to fund other endeavors, such as supporting sales initiatives, expanding its marketing plans, and/or adding personnel for other divisions.

Order your copy of the Household Cleaners Contract Manufacturing 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

Technologies such as Artificial intelligence (AI) have gained significant popularity in the industry. The ability of AI to evaluate enormous volumes of data in real time is one of the most important advantages for manufacturing. Artificial intelligence (AI) systems can quickly investigate the data to find patterns and trends, helping firms understand how their manufacturing processes are working. This is made possible by Industrial Internet of Things (IIoT) devices and sensors that gather data from machines, equipment, and production lines. The technology supports the service providers in finding abnormalities and equipment flaws. For example, they (service providers) can use machine learning algorithms, that are equipped to notice patterns in the data and suggest the next steps based on those patterns while identifying any defects in the initial stages of the manufacturing process itself.

The outbreak of the COVID-19 pandemic significantly impacted the demand for household cleaners as it was being increasingly utilized in commercial as well as residential properties to disinfect the surroundings. As a result, due to the unanticipated increase in demand, there was a shortage of supply, prompting some manufacturers to increase their production capacity to meet the customer demand. Leading producers, such as Henkel, P&G, and Reckitt Benckiser, witnessed a spike in demand for cleaning products which led them to outsource their manufacturing operations to the service providers in the category with an objective to increase their supply. The demand for household cleaners is expected to increase in the next years due to growing disposable income and increased urbanization, which will result in significant infrastructure investments. Consequently, it will support the growth of the global category.

Household Cleaners Contract Manufacturing Sourcing Intelligence Highlights

• The household cleaners contract manufacturing category exhibits a fragmented landscape with intense competition among the players in the industry.

• Buyers in the category possess high negotiating capability due to the intense competition among the suppliers, enabling the buyers with flexibility to switch to a better alternative.

• India is the preferred low-cost/best cost country for sourcing household cleaners contract manufacturing service providers. The nation is a cost-effective destination for contract manufacturing due to its relatively cheap raw material costs, energy costs, and labor costs, which result in significant cost savings.

• Raw materials, labor, equipment & machinery, rent & utilities, packaging & transportation, and other costs are the key cost components in the household cleaners contract manufacturing category. Other costs can be further bifurcated into research & development (R&D), administrative expenses, taxes & insurance, maintenance & repairs, depreciation, and interests.

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

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

• Connected Devices and Wearables 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 

• Abdos

• Advance Research Chemicals, Inc.

• CleanPak Products, LLC

• Colep Consumer Products

• Formula Corp.

• Guy & O'Neill, Inc.

• McBride plc

• Megamorph Marketing Pvt. Ltd.

• Nicols S.A

• PLZ Corp.

• Premier Care Industries

• Rockline Industries

Household Cleaners Contract Manufacturing Category Procurement Intelligence Report Scope

• Household Cleaners Contract Manufacturing Category Growth Rate: CAGR of 11.0% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Cost-plus pricing, competition-based pricing, demand-based pricing, hourly pricing, and fixed pricing

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

• Supplier Selection Criteria: Geographical service provision, years in service, employee strength, quality management system, technologies deployed in manufacturing, regulatory compliance & IP protection, assembly & storage capacity, transportation support, lead time, 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

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

Navigating the Landscape of Medical Writing Procurement Intelligence

The global medical writing category is anticipated to grow at a CAGR of 10.46% from 2023 to 2030. Growth of the category can be attributed to rising demand for regulatory writing services, increased focus on drug safety and pharmacovigilance, growing use of outside contractors for medical writing, rising emphasis on clinical research and evidence-based medicine, and shortage of proficient medical writers. With the proliferation of healthcare services, there’s an increased need for medical writers who can produce high-quality documents that satisfy regulatory standards and aid in the development and approval of novel medications and therapies. This covers protocols, reports from clinical studies, and various kind of papers required for regulatory filings.

However, continuous changes in the regulatory framework for healthcare products may pose a challenge for medical writers in keeping up with the latest developments, which may hinder the growth of global category.

Technologies that drive the global category include AI (artificial intelligence), collaboration tools, and data visualization.Automating the development of regulatory papers with natural language processing (NLP) is one of the most promising uses of AI in medical writing. NLP algorithms can create new documents by evaluating regulatory regulations and rules that already exist, which will save writers a great deal of time and work. In addition, collaboration technologies have become necessary for medical writers to collaborate with one another efficiently with the advent of remote work and virtual teams. Project management software and online conference platforms are few of the many tools available to help team members collaborate and communicate with one another. Furthermore,the capability to explain complicated scientific material effectively is crucial in an era where decision-making is driven by data. Medical writers can communicate complex information succinctly and understandably by using data visualization tools like graphs, charts, and infographics.

Order your copy of the Medical Writing 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

The category for medical writing is moderately fragmented and witnesses large number of global market players, turning the category to be competitive. Players in the category set themselves apart with their level of experience, knowledge, and services offered. The ones that are well-versed in scientific and regulatory norms, have medical writers with advanced training, and possess subject matter experts are at a distinct edge over their competitors. Gaining and retaining clients depends heavily on the capacity to produce excellent, factually correct, and organized documents on time. Leading business in the biotechnology, medical device, and pharmaceutical manufacturing are investing heavily in research & development activities which acts as an opportunity for the players to showcase their potential by offering their services to support the research. Buyers in the category possess high negotiating capability owing to extensive supply base and presence of freelancers as well.

Remuneration paid to the writers, cost of publishing (includes editing, proofreading, and plagiarism check), cost of printing, and energy costs are the key components of this category. It is important to acknowledge the role of a medical writer as a scientific expert who works with project teams, providing significant input to research planning and regulatory strategy. The hourly prices for medical writing might range from USD 29.5 to USD 179.5 depending on the client, nature of the work, and length of the project. A large pharmaceutical business would pay more for each project than a smaller business. In addition, certain medical writers bill more for writing than for proofreading. The logic behind this is that a project should cost more if it involves technical writing and research because it is more complex. Furthermore, discounted prices might be offered for lengthy projects that will occupy a writer’s time for weeks, rather short tasks that requires finding new clients in a matter of hours.

North America region dominates the global medical writing category, holding 35.4% of global market share. The region witnesses substantial need for scientific publications, clinical trial reports, and regulatory documents due to the presence of key clinical research organizations, research institutions, and pharmaceutical businesses. In addition, pharmaceutical approval process in the region is governed by strict criteria and well-established regulatory frameworks that necessitate substantial documentation and medical writing expertise. Furthermore, rising focus on evidence-based medicine fuels the demand for comprehensive and accurate writing services in the region. Requesting samples of papers published by a supplier in order to assess their content quality and depth, checking the experience level of a service provider, ensuring that the service provider has subscription to top scientific & medical journals for reference, and comparing the fee charged by various service providers are some of the best sourcing practices considered in this category.

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 Writing Procurement Intelligence Report Scope

• Medical Writing Category Growth Rate: CAGR of 10.46% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Hourly pricing, Per-Article pricing, and Per-Project pricing

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier Selection Criteria: Years in service, geographic service provision, revenue generated, employee strength, type of service, types of content, 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

• Cardinal Health, Inc.

• EMTEX BV

• Freyr Inc.

• ICON plc

• IQVIA Inc.

• Laboratory Corporation of America Holdings

• Parexel International Corporation

• PPD Global Limited

• ProPharma Group Holdings, LLC

• Syneos Health, Inc.

• TransPerfect Global, Inc.

• Trilogy Writing & Consulting GmbH

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

Vitamins & Dietary Supplements Procurement Intelligence: Industry Outlook

The vitamins & dietary supplements category is anticipated to witness growth at a CAGR of 8.5% from 2023 to 2030. In 2022, North America dominated the global category, accounting for 35% of the overall market share, followed by Europe and Asia Pacific. Europe is anticipated to witness growth owing to increased consumer awareness of health and the role of supplements in weight control and physical activity as well as their readiness to pursue a healthier lifestyle. The Asia Pacific region is anticipated to witness the fastest growth rate during the forecasted period. This growth is attributed to increasing consumer awareness & purchasing power along with a rise in geriatric population in countries such as Japan and China.

Vitamins & dietary supplements are manufactured in several forms such as tablets, capsules, powders, liquids, and gels. By type, the products are segmented into vitamin subtypes (e.g., A, B, C, D, E, and K), minerals, amino acids, enzymes, and probiotics. The products have end-use applications in pharmaceuticals, nutraceuticals, feed products, foods and beverages, and personal care products. A few of the key raw materials used in manufacturing these products include retinol, carotenoids, thiamin, riboflavin, ascorbic acid, cholecalciferol, calcium carbonate, and magnesium aspartate.

Key technologies driving this category’s growth include nanoencapsulation, biohacking and targeted supplementation, nutrigenomics, 3D printing of capsules, and lab-grown nutrients. For instance, nanoencapsulation provides various benefits such as improving the stability and solubility of bioactive compounds used in the manufacturing of vitamins and dietary supplements. It also inhibits the deterioration of products during storage and transportation. It also enhances the bioavailability and potency of the target compounds in the products.

Order your copy of the Vitamins & Dietary Supplements 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

The industry players purchase raw materials and active ingredients from a variety of sources and locations. The profit margins are typically moderate to low due to intense competition. The key players usually compete over pricing strategies, product innovations, packaging, labeling, and advertising. Customers can be selective, as their objective is to purchase the best available options at the lowest feasible cost. This increases the pressure on key players to provide competitive pricing and high-quality products. Besides, regulatory guidelines in several countries require companies to have stringent quality control and safety standards.

Vitamins & dietary supplements may either be manufactured in-house or through contract development & manufacturing organizations (CDMOs). They may be distributed via offline or online distribution channels. Offline channels include brick-and-mortar establishments such as direct sellers, pharmacies, hypermarkets, supermarkets, convenience stores, or other tangible shop environments. Online channels comprise e-pharmacies (e.g., Walgreens, CVS, PharmEasy) and e-commerce platforms (e.g., Amazon, eBay, Flipkart).

The COVID-19 pandemic caused significant disruption in the global vitamins and dietary supplements industry. The product demand intensified after the COVID-19 outbreak, due to the surge in demand for immunity-boosting products. Supply disruptions were prevalent due to transportation bottlenecks and labor shortages during government-imposed lockdowns, but the supply stabilized significantly in 2023 to meet the increased global demand.

Vitamins & Dietary Supplements Sourcing Intelligence Highlights

• The vitamins & dietary supplements category has a fragmented landscape, with intense competition among the service providers.

• Countries such as India and China are the preferred low-cost/ best-cost countries for vitamins and dietary supplements owing to cheap raw material costs, cheap labor costs, competitive pricing, and high return on investment.

• Buyers in the category possess high negotiating power due to the intense competition among the service providers based on the scope of services and prices, enabling the buyers with flexibility to switch to a better alternative.

• Raw materials, labor, technology and equipment, energy and utilities, packaging, labeling, and logistics, and other costs are the major cost components of the vitamins & dietary supplements category. Other costs can be further bifurcated into R&D, regulatory & compliance, rent, general & administrative, sales & marketing, and finance & taxes.

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

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

• Crude Oil 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 

• Abbott Laboratories

• Amway Corporation

• Archer Daniels Midland Company (ADM)

• BASF SE

• Bayer AG

• DSM Nutritional Products AG

• GSK plc

• Herbalife International, Inc.

• Lonza Group Limited

• Pfizer, Inc.

Vitamins & Dietary Supplements Category Procurement Intelligence Report Scope

• Vitamins & Dietary Supplements Category Growth Rate: CAGR of 8.5% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Cost-plus pricing, competition-based pricing, demand-based pricing, bundled pricing

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

• Supplier Selection Criteria: Geographical service provision, revenue generated, key regulatory certifications, years in service, employee strength, clientele, product portfolio, key technologies, distribution channels, application/end-use, customer ratings, 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

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

Automotive Sensors Procurement Intelligence: Industry Insights

The automotive sensors category is expected to grow at a CAGR of 9.4% from 2023 to 2030. This category is driven by the increasing demand for advanced safety features in vehicles due to the rising number of road accidents, the growing trend of vehicle electrification such as electric vehicles, and the increasing demand for sensors that can monitor battery performance and other critical parameters. Additionally, the growth is aided by the increased demand for connected cars, which are designed to collect data on the vehicle's performance and location. It can be used to provide real-time information to the driver and to improve the overall driving performance.

This sector is highly relevant to clients in procurement, as sensors are a critical component of modern vehicles. It involves conducting thorough research and due diligence to identify the most suitable suppliers and negotiating favourable pricing and terms.

This category makes use of cutting-edge technologies like micro-electromechanical systems (MEMS), radar, and Lidar. To detect and measure different characteristics like pressure and acceleration, Robert Bosch uses MEMS. Modern automobiles now perform and operate more safely and efficiently thanks to this technology. To identify and measure the separation between automobiles and other objects, Denso uses radar technology. Advanced Driving Assistance Systems (ADAS) employ this technology to notify motorists of potential hazards. Continental uses Lidar technology to build a 3D map of the area around the car and make safe navigation possible which will help them to reach USD 2,445 million in 2030 by revenue.

Order your copy of the Automotive Sensors 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

Automotive sensors’ price and cost depend on the type of sensor used and how well it performs. The dynamics of supply and demand play a vital role in defining the price of automobile sensors. Due to improvements in manufacturing technology and economies of scale, the cost of making automobile sensors has considerably lowered over time. Businesses typically employ the absorption costing method, which is cumulative of the cost incurred on labor, material, and administration. This approach is frequently utilized because it offers a more accurate depiction of the actual production costs of a product. Printed Circuit Boards (PCBs) and Micro-electromechanical systems (MEMS) contain a variety of components that are made mostly from raw materials like copper and aluminum. Around USD 5.2 is spent on a pound of copper, and the cost of aluminum is around USD 2,150 per ton.

Germany is a major player in this category with several leading companies based in the country such as Continental and Robert Bosch. The German category was valued at USD 4.8 billion in 2022. Japan is another major player with several leading companies such as Denso and Panasonic and was valued at USD 3.8 billion in Japan in 2022.

The automotive sensors category is highly fragmented.There are several participants, ranging from major organizations to small and medium-sized businesses. It is highly competitive, and businesses are always coming up with new ideas to get an advantage. Different sensors utilized for various purposes, such as temperature, pressure, and motion sensor, are used to segment this sector. With the growth of electric and autonomous vehicles, this industry offers enormous potential for growth and innovation. This will open up new doors for businesses to enter the market and create cutting-edge products. 

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

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

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

Automotive Sensors Procurement Intelligence Report Scope 

• Automotive Sensors Category Growth Rate (CAGR): 9.4% from 2023 to 2030

• Pricing Growth Outlook (Copper): 4 - 7%

• Pricing Models: Absorption costing method

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Micro-Electromechanical Capabilities,Radar And Lidar Technology,Chrome Data Auto Planner, Integrated Storage, Number Of Production Units, Technical Specifications, Operational Capabilities, Regulatory Standards And Mandates, Category Innovations, 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 

• Robert Bosch

• Denso

• Sensata Technologies

• Continental

• Panasonic

• TE connectivity

• Delphi Technologies

• Infineon Technologies

• BorgWarner

• Allegro MicroSystems

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

A Strategic Approach to Creative Advertising Procurement Intelligence

The creative advertising category is expected to grow at a CAGR of 9% from 2023 to 2030. The global creative advertising category size was valued at USD 321 billion in 2022. The growth of this field is being driven by the expansion of digital marketing, which allows organizations to more precisely target their advertising and measure the success of their campaigns. This makes it easier for firms to recognize and invest in creative advertising. 

Another element fueling the growth of creative advertising is the growing importance of data analytics. Data analytics enables organizations to better understand their customers and generate more successful advertising efforts. Consumers are increasingly seeking individualized experiences in creative advertising, prompting firms to employ data analytics to more accurately target ads, resulting in more effective and engaging campaigns. Consumer demographics are changing, fueling the growth of creative advertising. Consumers are becoming more fragmented and demanding, and they want advertising that speaks to and is relevant to their values. Businesses that use innovative advertising can engage their customers on a more personal basis.

Companies are continuously focusing on merging and/or collaborating with their competitors/peers to strengthen their operational & functional capabilities. For instance:

• In July 2023, Havas purchased 51% of the stake in Uncommon, a renowned creative company in the UK. This investment is in line with Havas’ vision to strengthen its creativity portfolio

• In May 2023, DDB Worldwide merged with Adam&EveNYC and DDB New York, establishing a new company known as Adam&EveDDB. Caroline Winterton, currently president of Digitas New York and Atlanta, will join Adam&EveDDB New York as CEO. She starts her new job in the fall.

Order your copy of the Creative Advertising 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

In this category, technology such as artificial intelligence is used in the creation of more tailored and relevant marketing, as well as the analysis of data about the target audience in order to discover their requirements and interests. This data is utilized to develop campaigns that are more likely to resonate with the intended audience. Data analytics is a valuable tool for optimizing targeting, analyzing customer interests and demographics, and designing stronger creative campaigns in the creative advertising market. Data analytics may find the correct audiences for ads by tracking customer activity, resulting in better targeting and ROI. Virtual reality (VR) and augmented reality (AR) are used to produce more engaging and memorable immersive creative advertising experiences. 

Creative Advertising Sourcing Intelligence Highlights

• The number of both large and small companies operating in different areas has caused the creative advertisement category to become highly fragmented on a worldwide scale. Players compete aggressively with one another to grow their customer base and offer superior customer service.

• Labor cost, production cost, and equipment cost account for the largest cost component of the creative advertising business.

• Most of the service providers offer services such as developing, designing, and producing the creative idea as per the requirements

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

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

• Big Data 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

• WPP

• Omnicom

• Interpublic Group

• Dentsu

• Havas

• MDC Partners

• Ogilvy

• McCann Worldgroup

• BBDO

• Grey Global Group

Creative Advertising Procurement Intelligence Report Scope 

• Creative Advertising Category Growth Rate: CAGR of 9% from 2023 to 2030

• Pricing Growth Outlook: 8% - 10%(Annually)

• Pricing Models: Hourly rate pricing model and project fee pricing model

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

• Supplier Selection Criteria: Transparency, creativity, innovation, type, technical expertise, security measures, cost and value, support and maintenance, regulatory compliance, 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

Recycled Glass Procurement Intelligence: Insights and Trends

The recycled glass category is anticipated to grow at a CAGR of 6.3% from 2023 to 2030. The demand for the category is mainly driven by its usage in food and beverages, construction, healthcare, automotive, and various other industries. Additionally, the rising demand for glass product manufacturing, such as bottles, beads, and countertops, is driving the growth of the category. Around 95% of the raw materials can be substituted with recycled glass while producing glass. Recycling glass allows manufacturers to decrease emissions as well as minimize the use of raw materials which in turn helps them in prolonging the lifespan of plant equipment like furnaces, and conserves energy. The rising focus on sustainability across various sectors to reduce environmental impact and carbon footprint is fueling the demand for recycled glass products. This is attributed to the environmentally friendly way of collecting, reusing, and repurposing the waste to create new products.

Recycling companies are advancing their processes such as glass sorting processes. Utilizing advanced glass separation technologies such as X-ray fluorescence and LED camera systems, recycling facilities can achieve recycling rates exceeding 75%. Despite ongoing efforts, a significant portion of viable cullet is still being lost within the CSP reject stream, which consists of more than 80% glass.

Food & beverage companies are partnering with recycling companies to enhance their usage of recycled glass. For instance, in May 2022 Coca Cola UNITED partnered with O-I Glass to use more recycled glass for creating new glass bottles. As glass is 100% and infinitely recyclable, food and beverage companies are focusing on increasing their use of recycled glass for packaging to create low-waste and support circular economy. In July 2023, O-I Glass partnered with FX Matt Beverage Company to provide innovative glass packaging solutions. This would help O-I Glass to supply recycled glass to the company for packaging.

Order your copy of the Recycled Glass 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

Europe region is the major market with 80% of the glass recycling rate in 2023 whereas North America has a 31% recycling rate. Countries such as Sweden, Belgium, and Slovenia are among the countries with efficient collection systems and achieve around 95% recycling rate.

The category is fragmented, with the presence of numerous players in the processing of glass. Buyers of recycled glass such as packaging manufacturers and beverage companies, may have moderate bargaining power. However, the presence of various recycling companies may reduce the power of the suppliers.

Labor, collection vehicles, recycling/collection bins and containers, sorting and processing equipment cost, storage facilities, and others are some of the cost components incurred in processing the category. Other costs include transportation, licensing and permits, purchasing of safety gear, and facility maintenance costs. The cost of processing glass can be between USD 70 to USD 90 per ton. Purchasing of recycling collection vehicle can cost around USD 50,000 to USD 100,000. The bins can cost between USD 20 to USD 150 per bin. The sorting and processing equipment cost varies based on the complexity and scale of recycling operations. For instance, a small to medium-sized recycling business may be required to invest around USD 50,000 to USD 150,000 in equipment.

In terms of sourcing recycled glass, recycling companies usually have a complete in-house recycling facility from collection of waste to processing and converting them for use in manufacturing for various products. However, buyers, on the other hand, such as food and beverage companies, packaging, and other companies, outsource their glass reusing process to reduce the burden of managing waste and processing it. When looking for recycling glass companies, buyers look for the recycling capacity of the companies and the quality of recycled glass, and whether they maintain long-term relationships with its clients. Buyers usually enter into long-term contracts with recycling companies instead of searching for different companies for each batch.

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

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

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

Recycled Glass Procurement Intelligence Report Scope

• Recycled Glass Category Growth Rate: CAGR of 6.3% from 2023 to 2030

• Pricing growth Outlook: 3% - 5% (annual)

• Pricing Models: Volume-based pricing; Competition based pricing

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

• Supplier Selection Criteria: Quality of the recycled glass, recycling capacity, end-use, contract terms, delivery option, technology used, safety and environmental compliance, location and presence of supplier, 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 

• O-I

• Dlubak Glass

• Ardagh Group

• Gallo Glass

• Strategic Materials Inc.

• Momentum Recycling

• Ripple Glass

• Reiling Group

• Ace Glass Recycling, GRL.

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

Emerging Trends in Finance and Accounting Outsourcing Procurement Intelligence

The finance and accounting outsourcing category is expected to grow at a CAGR of 6% from 2023 to 2030. Companies are concerned about data security and depend more on outsourcing partners for their financial operations. In 2023, the companies emphasized a strong focus on cybersecurity protection and severe attention to data privacy guidelines. Modern security protocols are being used by outsourcing service providers to protect sensitive financial data from online attacks. The demand for data security in this category is driving the market growth.

There is a growing emphasis on regulations and compliance, which has an impact on the financial and accounting landscape. Outsourcing providers put significant focus on ensuring the competence of national and international financial regulations such as ISO 27001, Payment Card Industry Data Security Standard (PCI DSS), etc. while remaining fully compliant with compliance standards like Generally Accepted Accounting Principles (GAAP), American Institute of Certified Public Accountants (AICPA), etc. Following these regulations helps companies and their outsourcing providers prevent potential fines and damage to their reputations.

The growing trend of remote work and digital collaboration has increased the market scope of BPO services for finance and accounting. As a result of exposure to a large pool of global talent, businesses will be able to acquire the necessary talent. The digitalization trend encourages diversity, innovation, and cost-effectiveness because it gives businesses access to a variety of highly qualified individuals around the world.

Order your copy of the Finance and Accounting Outsourcing 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

Companies’ emphasis on collaborating and incorporating new technology to develop new products/services. For instance,

• In August 2023, Capgemini's AI-enabled Frictionless Finance platform offers professional financial insights, cutting-edge tech integration, and process optimization that promote operational efficiency and value realization for its clients.

• In February 2023, GI Outsourcing, a UK-based outsourcing provider announced a corporate training and development partnership with the Association of International Certified Professional Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). GI Outsourcing has incorporated qualifications from the AICPA and CIMA in its employee training and development program for the employees who are assisting their international clients to keep them educated on various international accounting standards.

Finance and Accounting Outsourcing Sourcing Intelligence Highlights

• Because few service providers can compete with market leaders in terms of end-to-end service delivery capabilities and geographic reach for global/regional engagements, buyers in the finance and accounting outsourcing category have limited negotiating power.

• The average cost of outsourcing one of the finance and accounting services, i.e., accounting and bookkeeping services, ranges from USD 500 to USD 5,000 per month.

• The global finance and accounting outsourcing category is fragmented. The industry encompasses a wide range of services, including accounting and bookkeeping, payroll processing, tax return preparation, auditing, and many more.

• The category can be described as mature with several active players equipped with advanced technologies and global talent pool capabilities.

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

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

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List of Key Suppliers

• Accenture Ltd.

• Capgemini SA

• Conduent Inc.

• Fusion Business Solutions (P) Limited.

• Genpact Ltd.

• Hewlett-Packard Development Company, L.P.

• Infosys BPO Limited

• Meru Accounting

• International Business Machines Corporation

• Steria Limited

• Wipro BPO

• WNS Global Services

Finance and Accounting Outsourcing Procurement Intelligence Report Scope

• Finance and Accounting Outsourcing Category Growth Rate: CAGR of 6% from 2023 to 2030

• Pricing Growth Outlook: 4% - 5% (Annually)

• Pricing Models: Fixed pricing model and volume-based pricing

• Supplier Selection Scope: End-to-end service, cost and pricing, compliance, service reliability, and scalability

• Supplier Selection Criteria: Range of services, technology usage, certification, regulatory compliance, 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