Medical Waste Management: A US Market Report
San Jose, California (Vocus/PRWEB) January 07, 2011
Medical waste is an emerging serious environmental concern that requires substantial costs for its management. In fact, medical waste management significantly affects the national healthcare expenditure in most of the developed economies such as Japan, the US and Europe. In view of this, the concept of sustainable waste management has gathered considerable momentum among the policymakers, hospitals and various larger corporations in the US. The waste management industry in the US is guided by established rules and regulations. However, the legislation is not harmonized throughout the country. Owing to rising awareness regarding negative effects of incinerating medical waste, new technologies are being developed that are environment friendly. Major alternatives to incineration include autoclaving and microwave sterilization.
Management & Disposal Services represents the largest segment in the US medical waste management market, as stated by the new market research report on Medical Waste Management. The segment accounted for a lions’ share of the market and is portended to increase its market share in the ensuing years. Collection Equipment is the other major market segment. However, fastest growth is likely to emanate from Liquid Medical Waste Management segment, surging at a compounded annual rate of more than 9.0% over the analysis period.
Outsourcing of medical waste management services is expected to catch on in a big way, owing to the termination of on-site incinerators and the huge capital costs required for installing new equipment. Moreover, measures to bring in more small quantity waste generators such as clinics and physician’s offices into the mold are expected to boost the market. Players in the waste management industry need to constantly gain awareness about latest technological advancements, competition and varying legislations to sustain and grow in the market. Strategies to gain a competitive edge involve diversification, service differentiation and integration of services. Players need to provide utmost priority to pricing, adoption of advanced technologies, and quality of service to maintain growth.
Enhancement of the waste segregation and execution of various Regulated Medical Waste Management (RMW) reduction program enables hospitals to reduce their financial burden. Decreasing RMW helps medical facilities in reducing the risk as well as cost. Thus, reducing and eliminating the production of medical waste at the source itself has gained significant importance among healthcare facilities in the US. Hospitals and healthcare facilities are increasingly adopting measures to reduce waste, as reduction of waste offers several benefits such as increased safety of health and occupational safety, enhanced community relations, reduction of costs, compliance to regulatory issues and decreased liability. Closure of several medical waste incinerators in the country compelled the medical waste management industry to seek for other efficient and economical alternatives. This has paved way for the growing acceptance of service companies, microwave solutions, and autoclave technology among others to cater to the increasing medical waste produced by the growing pharmaceutical as well as health care sectors. Few of the major impediments that hamper growth in the medical waste sector include exorbitant prices charged by the service companies for clearance of the waste, and lesser alternatives for the on-site treatment.
Major players profiled in the report include BioSAFE Engineering LLC, Bondtech Corporation, Gamma Waste Systems, Hawaii Bio-Waste Systems, MCM Environmental Technologies, MedServe, San-I-Pak Pacific, Sterile Technologies, Tempico, The Mark-Costello, Environmental Waste International, and Hydroclave Systems.
The research report titled “Medical Waste Management: A US Market Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the medical waste management market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the US Medical Waste Management market for the years 2007 through 2015. Key product/service segments analyzed include Management & Disposal Services, Collection Equipment, Liquid Medical Waste Management, and Treatment & Processing Supplies. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Medical_Waste_Management_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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