Procurement Outlook
Medical waste contains potentially infectious materials generated by several healthcare facilities like hospitals, laboratories, physician’s offices, dental practices, veterinary clinics, and medical research facilities. The medical waste may include gloves, gauze, gowns, human or animal tissues, cultures of infectious diseases/agents, discarded vaccines, etc. Based on type, medical waste can be categorized into the following categories:
- Sharps: Needles, scalpels, lancets, broken glass, razors, ampules, staples, wires, and trocars.
- Infectious waste: Swabs, tissues, excreta, equipment, and lab cultures.
- Radioactive: Unused radiotherapy liquid or lab research liquid.
- Pathological: Human fluids, tissue, blood, body parts, bodily fluids, contaminated animal carcasses.
- Pharmaceuticals: Unused, expired, and/or contaminated vaccines, drugs, injectable, and pills.
- Chemical: Disinfectants, solvents used for laboratory purposes, batteries, and heavy metals from medical equipment.
- Genotoxic waste: Carcinogenic, teratogenic, or mutagenic, cytotoxic drugs.
- General non-regulated medical waste: Non-hazardous waste, other than chemical, biological.
These medical wastes is disposed of by first making it safe through a sterilization process. Waste that cannot be recycled, such as, gauze or needles, still needs to sanitized and make it non-hazardous before it can be disposed of. This inactivates all bacteria, viruses, fungi, and spores by using high temperature and thus the items are considered safe for recycling or disposal.
Grab your copy, or request for a free sample of the “Medical Waste Disposal Market Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Demand Outlook
The global medical waste disposal market is valued at USD 7 billion in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2025 due to the increasing volume of healthcare waste and from the pharmaceutical and healthcare industry post-Covid-19. North America and Europe have the largest share in the medical waste disposal market as these two regions have more standardized and structured medical waste management systems in place compared to other regions. However, APAC is expected to witness the highest growth rate, due to the rising social awareness and establishment of strict regulations for the proper disposal of medical wastes.
Cost Drivers
Incineration, sterilization through autoclaving and chemical treatment are the key cost drivers of medical waste disposal services accounting for more than 30% of the overall cost of service. The other major cost components include collection, transportation, and storage services.
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
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