Medical Waste Disposal Services Procurement Research Report Now Available from IBISWorld

Medical waste must be disposed of following strict guidelines, and processing medical waste can be too expensive for many buyers to perform in-house. To help procurement professionals make better buying decisions, business intelligence firm IBISWorld has added a report on the procurement of Medical Waste Disposal Services to its growing collection of procurement research reports.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This
IBISWorld industry market research
Healthcare reform will significantly increase access to health insurance, resulting in higher demand for this market.

Los Angeles, CA (PRWEB) October 20, 2013

Medical waste disposal services have a buyer power score of 3.0 out of 5. This score reflects limited buyer power and slowly increasing prices for disposal services. Stringent regulations make these specialized waste management services necessary for many buyers; medical waste must be disposed of following strict guidelines, and processing medical waste can be too expensive for many buyers to perform in-house. “Therefore, outsourcing these services is required to meet standards regarding the disposal of regulated medical waste”, according to IBISWorld procurement analyst Erich Abellera. The highly specialized nature of these services also restricts the availability of substitutes for buyers, limiting their negotiation power. Service providers thus experience consistently high demand and strong pricing power.

Average prices have increased steadily over the past three years, and this trend is expected to continue. As healthcare reform is implemented over the coming years, access to healthcare insurance is expected to increase significantly. Increased insurance coverage will lead to greater use of healthcare services, which will in turn result in higher volumes of medical waste. Thus, healthcare reform is expected to ultimately boost demand for medical waste disposal services, pushing prices up further over the next three years. “Buyers can increase their negotiation power by setting multi-year agreements with medical waste disposal service providers”, says Abellera. Multi-year contracts will also allow buyers to lock in prices before they rise in the coming years. However, some contracts allow suppliers to pass rising input costs onto buyers. Buyers can negotiate limits to these price increases to reduce their total cost of ownership.

Prices for medical waste disposal services depend on the type of disposal service being purchased, as well as the type and amount of waste to be disposed. The two main services are pickup, which involves medical waste being collected and hauled away from the buyer, and mail-back, which involves the buyer mailing containers filled with waste to a disposal facility. The major vendors in this market are Republic Services, Stericycle, US Ecology and Waste Management.

For more information, visit IBISWorld’s Medical Waste Disposal Services procurement research report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld Procurement Report Key Topics

This report is intended to help buyers of medical waste disposal services. Medical waste includes soiled bandages, body fluids, body tissues, surgical instruments, needles, cultures and body organs. These items are generated by healthcare facilities such as hospitals, clinics, veterinary clinics, dentist offices, research labs and private practices. Regulations govern the disposal of such waste, which cannot be directly disposed of in landfills with municipal solid waste. Medical waste disposal services collect, treat and dispose medical waste according to local, state and federal guidelines.

Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Vendor Financial Benchmarks
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics

About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


Contact

  • Danielle Goodman
    IBISWorld
    +1 3108762175
    Email