Medical Waste Management Market Overview :
Global Medical Waste Management Market is estimated to reach $26.9 Billion by 2025; growing at a CAGR of 5.6% from 2017 to 2025.Medical waste management states to the suitable processing of waste materials produced by the healthcare institutions. These waste materials are generated at, hospitals, research institutions, health care teaching institutes, clinics, laboratories, blood banks, animal houses and veterinary institutes. The appearance of medical waste management solutions has played a major role in preventing the issue of toxic compounds into land and water. The medical waste is generated during diagnosis, treatment or vaccination of animals or human beings. The wastes which contain pathogens in sufficient concentration or quantity that could cause diseases. It is hazardous e.g. culture and stocks of infectious agents from laboratories, waste from surgery, waste originating from infectious patients. In addition, it includes the same types of waste originating from minor and scattered sources, including waste produced in the course of health care undertaken in the home such as home dialysis and self-administration of insulin.
Rapid rise in elderly population, development of advanced manufacturing techniques for drugs & medical appliances in the pharmaceuticals industries and increasing initiatives by government authorities are the factors driving the growth of the medical waste management market. In addition, technological advancement and non-hazardous methods that helps in reducing and recycling of the waste to a huge amount have also supporting the growth of the market. Though, requirement of high capital investments and lack of strict regulations in emerging countries are the restraint if the market. Furthermore, outsourcing of medical waste management services and growing healthcare industry would generate more medical waste markets are expected to equally influence the overall growth of market during the forecast period.
Type, treatment, service, treatment site and geography are the classifications of the global medical waste management market. Type segment comprises hazardous and non-hazardous. By treatment, the market is segmented into chemical treatment, autoclaving, incineration and other treatments. The service segment is bifurcated into recycling, disposal, collection, transportation & storage and other services. Furthermore, treatment site segment includes onsite and offsite.
Based on geography, the global Medical Waste Management Market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Prominent players operating in the market include REMONDIS SE & Co. KG, Sharps Compliance, Inc., BioMedical Waste Solutions, LLC., Daniels Sharpsmart., Waste Management, Inc., CLEAN HARBORS, INC., Stericycle, Veolia, Republic Services, Inc., and Suez Environnement S.A., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Medical Waste Management Market with respect to major segments such as type, treatment, service, treatment site and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Medical Waste Management Market has been included in the report
- Profile of the key players in the Global Medical Waste Management Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Medical Waste Management Market
- Non – Hazardous
- Chemical Treatment
- Other Treatments
- Treatment and Disposal
- Collection, Transportation & Storage
- Other Services
Treatment Site Segments
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East