new u.s. med waste market report summary:
GIA announces the release of a comprehensive US report on the Medical Waste Management market. The US market for medical waste management is forecast to reach US$3.5 billion by the year 2017. Rapidly increasing aging population, demand for greater medical care, waste reduction, public awareness and heightened competition comprise key growth drivers. Additionally, formidable healthcare costs, development of alternate waste disposal technologies and stringent environmental regulations will fuel the overall medical waste management market in the US.
San Jose, California (PRWEB) March 02, 2012
Follow us on LinkedIn - Waste generated by healthcare centers is increasingly becoming the topic of debate among lawmakers, citizen's groups, and social groups in the US. The industry has become a paradox of sorts in the recent past. An industry that is expected to provide healthcare to people for a better living is turning into one of the largest contributors to ill health of the people. Against this backdrop, the Medical Waste Management market grew in importance and the concept of sustainable waste management gathered considerable momentum among policymakers, hospitals and various larger corporations in the US. The result was a strong waste management industry which is now guided by established rules and regulations.
Medical waste has emerged as an extremely serious environmental concern necessitating the investment of substantial amounts for its management and general safety. In the US alone, each year a significant portion of the national healthcare expenditure is diverted towards this area. Prospects for medical waste services market appear promising, owing to factors such as swelling number of patients, expanding waste generating sources, growing service fees and rising number of service providers. 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 fold are expected to provide a further boost to the market.
The segment of Management & Disposal Services leads the US medical waste management industry and has been in the driver's seat for a decade now. Owing to enormous pressure from regulatory bodies, environmental groups and local population, and huge costs associated with retrofits, numerous incinerators handling infectious waste were compelled to close shop. Consequently, healthcare facilities are evincing keen interest in addressing the issue of treatment and disposal of expensive and exclusive type of medical wastes. The market for Liquid Medical Waste Management is in its infancy and is experiencing an exciting phase of development and growth and is forecast to race ahead at a vibrant CAGR of 8.7% over the analysis period.
The closure of over 3500 waste incinerators in the country since the year 1995 compelled the medical waste management industry to seek alternatives such as microwave treatment, autoclaving, plasma/pyrolysis technology etc. However, few of these technologies are exorbitantly priced while few are still in the early stages of development. Given the growing demand for waste treatment, a variety of new and improved processing equipment hit the market in recent times. Steam sterilization compensated for the decline in incineration technology and reported higher sales. Hospitals preferred to avail off-site waste treatment facilities rather than modernizing existing technology with tight budgets. However, rising transportation and disposal costs are compelling healthcare centers to opt for onsite treatment equipment, which is expected to have a positive effect on the market.
Major players in the marketplace include BioSAFE Engineering LLC, Gamma Waste Systems, Hawaii Bio-Waste Systems, MCM Environmental Technologies, MedClean Technologies, Inc., San-I-Pak Pacific, Stericycle, Inc, Sterile Technologies, Tempico, The Mark-Costello and Environmental Waste International, among others.
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 2009 through 2017. Key product/service segments analyzed include Management & Disposal Services, Collection Equipment, Liquid Medical Waste Management, and Treatment & Processing Supplies. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
this backdrop against which mcln mngt must reconcile no performance. report paints nice picture, even names mcln, but betting content doesn't explain stericycle continued rise in revenues, profits, rapid rise of daniels intl as no. 2 u.s. med waste company, both med waste haulers. before anyone has orgasm over report, past reports identified rising fuel, energy expenses reasons why onsite equipment sales would rise. never happened. instead steri and daniels have grown.
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