Medical Waste Management Market Growth and Key Futuristic Trends 2018-2026 By Global Top Players - Stericycle, Sharps Compliance, Inc., Veolia Environment, Daniels Sharpsmart, Clean Harbors, Inc.

Coherent Market Insights has announced the addition of the “Medical Waste Management by Company Profile, Deals Type, Funding, Clinical Trials Insight, Regulatory Landscape & Recent Development”, Report offering you more creative solutions that combine our deep geographic experience, intimate sector knowledge and clear insights into how to create value in your business.

Healthcare activities generate a lot of waste, especially from the frequently used consumables, which are harmful to in-patients and healthy population. Medical waste includes waste generated within research centers and health-care facilities, for example, sharps waste, infectious waste, pathological waste, pharmaceutical waste, chemical waste, and radioactive waste. The waste product that is generated by the healthcare activities has higher potential to spread infection and injuries. Inadequate or incorrect handling of medical waste may cause serious public health issues such as HIV, tuberculosis, hepatitis, and other bacterial diseases and also have an irreversible impact on the environment.

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According to the Journal of Hospital Infection, in 2013, around 20% of medical waste cause risks of trauma, infection, chemicals or radiation exposure. Effective medical waste management is crucial for the environment and health protection. According to the World Health Organization (WHO), in 2015, around 16 million syringes are administrated every year, among which only a few are disposed properly, in turn creating a risk of injuries and infection. Moreover, UNICEF and WHO collaborated in 2015, launched a global initiative to ensure that all healthcare facilities have proper and adequate water, hygiene, and sanitation services, which also include healthcare waste disposal management. Various strategies are adopted by national and international bodies on the development and implementation of education and training programs for medical staff and patients, emphasizing on proper medical waste management.

Key Market Players Operating In The Global Medical Waste Management Market -

Stericycle, Sharps Compliance, Inc., Veolia Environment, Daniels Sharpsmart, Clean Harbors, Inc., MedWaste Management, Republic Services, and Waste Management.

Medical Waste Management Market Taxonomy -

By Services:

Onsite
- Collection
- Treatment
- Recycling
- Others

Offsite
- Collecting, transportation, and storage
- Treatment
- Recycling
- Others

By Technique:

Incineration
Autoclaving
Chemical treatment
Others

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Proper medical waste management in developed and emerging economies is expected to fuel the growth of the medical waste management market

Government initiatives to support medical waste management is encouraging effective medical waste management. For instance, the Union Ministry of Environment, in 2017, issued a guideline for developing bar codes in the hospitals and clinics in compliance with Bio-medical Waste Managements, rule 2016. This aims to monitor the source of generation of medical waste and its proper disposal, which in turn is expected to control the hazardous effects caused by medical waste. This initiative by the government is expected to propel growth of the medical waste management market in the near future. Training given to the hospital staff to separate and dispose waste properly is critical for the success of such programs or initiatives. Developed regions such as North America and Europe are adopting proper medical waste management. For instance, many hospitals in U.S. have started recycling the single-use products, which are sold back to the hospitals at fraction of the original cost.

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