Healthcare Biohazard Waste Management Services Sector

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Healthcare Biohazard Waste Management Services Sector

The 2018 U.S. annual revenue and market share of the key players of the U.S. Medical Waste Management market are $1,142,400,000 for Stericycle U.S., where the U.S. market share in 2018 was 17%, $1,598,402,000 for Clean Harbors U.S., where the U.S. market share in 2018 was 23.73%, and $40,141,000 for Sharps Compliance Inc. U.S., where the U.S. market share in 2018 was 0.6%. We did not find the specific bio hazard waste management revenue or U.S. market shares of Republic Services, even after an exhaustive research from annual reports, SEC reports, press release, business intelligence resources, and statistics portal, however, we provided their 2018 total annual revenue which was $10,040,900,000.

Healthcare Biohazard Waste, or Medical Waste, Management Services Sector:

Revenue and market share:

stericycle

  • The 2018 U.S. biohazard waste, or medical waste, management annual revenue of Stericycle was about $1,142,400,000.
  • Stericycle had a 17% U.S. market share in 2018 in the US Medical Waste Management market.

clean harbors

  • Clean Harbors' 2018 annual revenue on their US environmental services business segment was about $1,598,402,000.
  • Clean Harbors' Environmental Services business segment includes biohazardous waste, sharps management, pathological waste, pharmaceutical waste, on-site management program and laboratory chemical packing services for the healthcare industry.
  • Clean Harbors had a 23.73% U.S. market share last 2018 in the U.S. Medical Waste Management. (calculations)

sharps compliance

  • The 2018 U.S. healthcare biohazard waste, or medical waste, management annual revenue of Sharps Compliance Inc. was about $40,141,000.
  • Sharps Compliance Inc. had a 0.6% U.S. market share last 2018 in the Medical Waste Management market. (calculations)

republic services (Total annual revenue)

  • The 2018 total US revenue of Republic Services was about $10,040,900,000, a 0.08% increase year-over-year, where approximately 75% was from their collection services business segment, 5% from their transfer services, 13% from their landfill services, and 3% from their recycling services.

Research Strategy:

We first checked the previous request to learn more about the market size and what information was needed for the Healthcare Biohazard Waste Management Services sector. Upon checking the previous sources used, the market report and market size used from the previous answer was for the global market, therefore, we decided to not use them as the source for the market size needed to be calculated for the U.S. market share.

A) US Healthcare Biohazard Waste, or Medical Waste, Management Services Sector Market Size

We then searched for the U.S. Healthcare Biohazard Waste Management Services sector by using press release sources such as PRNewsWire and Business Wire, and also market report sources such as IBIS World, Transparency Market Research, and Market Trends. We found a market report for the U.S. Medical Waste Management market, which is another term for Healthcare Biohazard Waste, according to Sharps, Inc. and U.S. Environmental Protection Agency. This provided the market size for the U.S. Medical Waste Management in 2014, and the projected CAGR from 2015-2023, plus the projected market size in 2023. We used the 2014 market size and projected a CAGR from 2015-2023 for triangulation, in order to find the 2018 market size.

Calculations: 2018 market size

  • Given Data: 2014 market size — $5.89 billion; CAGR — 3.4%
  • 2018 market size: (Future Value) = (Present Value) x (1 + CAGR) ^t, where future value is the 2018 market size, present value is the 2014 market size, CAGR is 3.4% and t=number of years= 2018-2014 = 4.
  • (Future Value) = (Present Value) (1 + CAGR) ^t = ($5,890,000,000) x (1 + 0.034) ^4 = $6,735,913,268.55 or about $6.736 billion.
  • Therefore, the 2018 U.S. Medical Waste Management market size was about $6.736 billion.

B) Revenue of Stericycle, Clean Harbors, Sharps Compliance, and Republic Services:

We then searched for the annual revenue of key leading players of the U.S. market of Medical Waste Management, which includes Stericycle, Clean Harbors, Sharps Compliance, and Republic Services, using their own company website. Our goal was to look for their 2018, or latest, annual reports or SEC filings (Form 10-K), which will show the annual revenues, and check if the reports have provided the specific biohazard waste management, or medical waste management, revenue for each of the companies. We found the biohazard waste management, or medical waste management, revenues for the Stericycle, Clean Harbors, and Sharps Compliance companies from their 2018 annual reports and SEC Form 10-K. However, we did not find any specific biohazard waste or medical waste business segments from the 2018 annual report of Republic Services.

C) US Market Share of Stericycle, Clean Harbors, and Sharps Compliance:

According to Houston Chronicle, to find the market share of a company, divide the revenue of the company in a given fiscal year by the total revenue or market size of the industry in the same fiscal year, and then multiply the result by 100. In order to find the U.S. market shares of Stericycle, Clean Harbors and Sharps Compliance, we decided to use triangulation by using the data of 2018 annual revenues we found for each company, and the 2018 market size for U.S. Medical Waste Management market, which calculations were highlighted below:

calculations: market share

Stericyle:

  • Given Data: 2018 revenue — $1,142,400,000; 2018 market size — $6,735,913,268.55
  • Formula: Market Share = (2018 revenue / 2018 market size) x 100 = ($1,142,400,000 / $6,735,913,268.55) x 100 = 0.16959 x 100 = 16.959%, or 17% rounded off to the nearest whole number.
  • Therefore, Stericycle had a 17% US market share in the U.S. Medical Waste Management.

Clean Harbors:

  • Given Data: 2018 revenue — $1,598,402,000; 2018 market size — $6,735,913,268.55
  • Formula: Market Share = (2018 revenue / 2018 market size) x 100 = ($1,598,402,000 / $6,735,913,268.55) x 100 = 23.73%
  • Therefore, Clean Harbors had a 23.73% US market share in the US Medical Waste Management.

Sharps Compliance Inc.:

  • Given Data: 2018 revenue — $40,141,000; 2018 market size — $6,735,913,268.55
  • Formula: Market Share = (2018 revenue / 2018 market size) x 100 = ($40,141,000 / $6,735,913,268.55) x 100 = 0.6%
  • Therefore, Sharps Compliance Inc. had a 0.6% U.S. market share in 2018 in the Medical Waste Management market.

All the details that were found are provided in our key findings, about the U.S. biohazard waste/medical waste management revenue, and market share for Stericycle, Clean Harbors and Sharps Compliance. We were only able to provide total revenue of Republic Services, instead of specific segment revenue for biohazard waste/medical waste management.

We did not find the specific revenue of Republic Services to biohazard waste, or medical waste, management, and their U.S. market share.

Republic Services biohazard waste (or medical waste) management segment revenue and us market share:

strategy #1: pre-compiled

  • We first searched for the Republic Services Biohazard Waste (or Medical Waste) Management segment revenue by using their SEC Filings Form 10-K and 2018 or latest annual reports, in order to find pre-compiled data about the specific segment revenue required. However, we did not find the specific segment revenue of Republic Services for the Biohazard Waste (or Medical Waste) Management. We only found their total annual revenue for 2018 which was $10,040,900,000, which we provided as helpful findings. We also found their segment by business solutions, however, they did not specify anything relevant to about biohazard waste, or medical waste management to address the client's request, which we then ignored.

Strategy #2: business intelligence resources

  • We then changed strategy by researching using business intelligence resources such as MarketWatch, Bloomberg, Hoovers, and CSI Market, with the goal of finding specific data and information of revenue by segments, which this sources mostly provide. However, we still did not find any revenue by the segment of Biohazard Waste (or Medical Waste) Management for Republic Services Inc. We only found the company's total revenue for 2018, revenue per employee, and other revenue by segment but for other markets, which we deemed as irrelevant to the "healthcare biohazard waste management services sector" scope of the request. Since this strategy failed, we had to discard it and move on.

strategy #3: triangulation

  • Lastly, we changed strategy again by trying to research for data or information that we can correlate and used for triangulation with the total revenue found of Republic Services, like business segment breakdown or percentage of biohazard waste/medical waste management from the total revenue, by using press release sources such as PRNewsWire, and Business Wire, and financial intelligence sources such as Seeking Alpha, Inc., Fortune, and statistics sources such as Statista. However, we still did not find any relevant information. We only found the historical total annual revenues of Republic Services, and market reports about waste management worldwide.

Strategy #4: Market reports, for breakdown of market share

  • In order to find the market share, we used market report resources such as Transparency Market Research, IBIS World, and Markets and Markets, in order to find the breakdown of market share among the key players of U.S. Biohazard Waste/Medical Waste Management market, which includes Republic Services. However, we did not find any relevant information to address the client's request about the market share of Republic Services, specific to biohazard waste/medical waste management. We only found market size information and CAGR of the U.S. Medical Waste Management market from Transparency Market Research.

Conclusion:

  • Due to lack of publicly available information, even after exhaustive research from pre-compiled reports, business intelligence resources, press release, financial intelligence, and statistics resources, we therefore conclude that there is no available biohazard waste/medical waste management business segment revenue of Republic Services. The reason might be because of the specificity of the requested criteria, and that the company did not make any segment about it.
  • We then decided to provide the total revenue instead of Republic Services Inc. as a helpful finding. We also provided the link of paywall market report about the U.S. Medical Waste Management by Transparency Market Research, as an option to the client, because we found the revenue and market share of Republic Services among the data included to that report.
  • Due to the lack of revenue that is specific to biohazard waste/medical waste management for Republic Services Inc., and the lack of publicly available pre-compiled market share from market reports, or any data for triangulation, we therefore conclude that there's no publicly available market share for Republic Services in the U.S. biohazard waste/medical waste management services.
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