PRZOOM - /newswire/ -
London, United Kingdom, 2007/11/07 - Report Buyer, the online destination for business intelligence, has added a new report showing that the world market for medical waste treatment, containment, management and disposal to be estimated $2.0 billion by the end of 2007.
Report Buyer has added a new report showing that the world market for medical waste treatment, containment, management and disposal increased from $1.9 billion in 2006 to an estimated $2.0 billion by the end of 2007. It should reach $2.6 billion by 2012, experiencing a compound annual growth rate (CAGR) of 5.1%.
“U.S. Medical Waste Treatment, Containment, Management and Disposal Markets” reports that the market is broken down into applications of medical waste treatments, containment systems, and management and disposal services. Of these sectors, management and disposal service has the largest share of the market, worth an estimated $1.6 billion in 2007 and expected to reach $2.1 billion by 2012, a CAGR of 5.5%.
The report shows that driving growth in this segment are the evolving state and federal regulations surrounding the disposal of medical waste and facilities. Also driving the market is the growing interest in reusable sharps containers, which is increasing service contracts for the management of these systems.
Medical waste containment systems have the second largest share of the market, worth an estimated $346 million in 2007 and expected to reach $400 million by 2012, a CAGR of 2.9%. These systems are expected to experience high growth due to a growing and ageing population, a rising incidence of chronic disease and new requirements for sharps disposal in community and home settings.
The study shows that medical waste treatments account for the smallest percentage of revenues. This is largely due to the competition with service companies and the often one-time cost for facilities to implement a system on-site. In 2007, the market will reach $58.4 million, increasing 8% to 9% annually. Although market sales are lower in this segment, it represents the highest growth of any medical waste market segment.
“U.S. Medical Waste Treatment, Containment, Management and Disposal Markets” shows that several challenges still exist in the medical waste market, including limited options in on-site treatment and extravagant costs for removal of waste by service companies. Industry experts have stressed the benefits of reducing the waste generated and taking advantage of recycling opportunities to be the most beneficial to saving. However, this approach can take years to implement in many facilities, particularly high bed count hospitals. The need for cost-effective, efficient solutions is in high demand by facilities nationwide.
“U.S. Medical Waste Treatment, Containment, Management and Disposal Markets” is available from Report Buyer.
Report Buyer product ID: BCC00009
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