Global Medical Waste Management Market is expected to reach USD 17.38 million by 2025, from USD 11.33 million in 2017, growing at a CAGR of 5.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Definition of Medical Waste Management Market:
This market report defines the market trends and forecast the upcoming opportunities and threats of the medical waste management market in the next 8 years. Medical waste management is the processing of waste materials generated by the healthcare institutions. These waste materials are generated at clinics, bloods banks, clinics, laboratories and required proper management. The rise of medical waste management solutions plays a key role in prevention of the release of toxic compounds into water and land. Medical waste management solutions treat waste responsibly by adopting environment friendly treatment procedures. These treatments are ecofriendly and follow zero toxic emissions, fumes & gases enabling repurposing of waste into resources. According to World Health Organization (WHO), the total amount of waste generated by health-care activities around 85.0% is non-hazardous waste. The remaining 15.0% is considered hazardous material that may be infectious, chemical or radioactive. There is growth in government initiatives, for example World Health Organization (WHO) and UNICEF partnered in 2015 and launched a global initiative to ensure that all health care facilities have adequate water, sanitation and hygiene services, it addresses the health care waste.
Scope of the Report:
The global medical waste management market is segmented on the basis of type of waste, service type, treatment type, and treatment site.
On the basis of type of waste, the global medical waste management market is segmented into non-hazardous waste and hazardous waste. Hazardous wastes are further sub segmented into infectious & pathological waste, pharmaceutical waste, sharps, and other.
Based on service type, the global medical waste management market is segmented into collection, transportation, & storage, treatment & disposal, recycling, and other.
On the basis of treatment type, the global medical waste management market is segmented into incineration, autoclaving, chemical treatment, and other.
On the basis of treatment site, the global medical waste management market is segmented into offsite treatment and onsite treatment.
Based on geography, the global medical waste management market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
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Competitive Analysis:
The global medical waste management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical waste management market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors:
Some of the major players operating in the global medical waste management market are Stericycle, Inc., Suez Environnement S.A., Veolia Environnement S.A., Clean Harbors, Inc., Republic Services, Inc., BioMedical Waste Solutions, Llc., Remondis Medison (A Subsidiary of Remondis Ag & Co.Kg), Sharps Compliance, Inc., Waste Management, Inc., Daniels Sharpsmart Inc., US Ecology, Inc., Synergy World, BWS Incorporated, MedPro Disposal, XMED Disposal, Inc., GRP & Associates, Medasend Biomedical, Inc., Medical Waste Pros. among others.
Major Market Drivers and Restraints:
- Vast amount of healthcare waste generated
- Rising government initiatives
- Rise in severe rules imposed for emission, disposal, and recycling of hospital waste
- Technological innovations in reducing and recycling of the waste
- Lack of awareness about the health hazards associated with medical waste
- Dearth of training for proper disposal
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