Emerging Growth Expected in Medical Waste Management Market owing to increasing number of patient admissions across healthcare facilities – a Comprehensive Report 2019-2027

Medical waste poses a growing problem across the world, jeopardizing the health of patients, staff, workers involved in disposal, and others. The primary reason behind the exponential increase in the volume of medical waste generated can be directly associated with the increasing number of patient admissions across various medical specialties.

The market is expected to grow during the forecast period owing to the driving factors such as large patient population resulting in increasing number of hospitals admissions, increasing awareness among socioeconomic groups related to the benefits of proper waste management and stringent regulations enforced by governments of the countries in Asia Pacific with respect to appropriate disposal of medical waste byproducts and residues.

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Some of the prominent players operating in the medical waste management market are, Medasend Biomedical, Inc, Bondtech Corporation, Sharps Compliance, Inc., Veolia, Clean Harbors, Inc., Daniels Sharpsmart, Inc., Stericycle, REMONDIS SE & Co. KG, Republic Services, Inc., and Waste Management, Inc. among the others

According to a new market research study titled Medical Waste Management Market - Global Analysis and Forecasts by Service Type, Treatment Type, Treatment Site, and Geography. The global medical waste management market is expected to reach US$ 16,495.8 Mn in 2027 from US$ 10,563.2 Mn in 2018. The market is estimated to grow with a CAGR of 5.2% from 2019-2027. The report highlights the trends prevalent in the global medical waste management market and the factors driving the market along with those that act as deterrents to its growth.

In 2018, the treatment and disposal segment held the largest market share of 40.7% of the medical waste management market, by service type. The consumables segment is also expected to dominate its market share in 2027 as treatment and disposal are one of the most crucial steps conducted for discarding hospital generated waste.

On the other hand, recycling segment is anticipated to witness the fastest growth rate of 6.6% during the forecast period, 2019 to 2027 owing to the majority of the companies working towards developing eco-friendly solutions that includes recycling of medical wastes.

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Strategic Insights

Product launches, agreements, and acquisitions were observed as the most adopted strategy in the global medical waste management market industry. For instance, in April 2016, Sharps Compliance Corp. launched the TakeAway Recycle System designed for the safe collection, return transportation and recycling of single-use medical devices. Moreover, in July 2016, Sharps Compliance Corp. acquired Citiwaste, LLC to expand it is northeast route-based business operations.

Global Medical Waste Management Market – By Service Type

• Collection
• Transportation and Storage
• Treatment and Disposal
• Recycling

Global Medical Waste Management Market – By Treatment Type

• Incineration
• Autoclaving
• Chemical Treatment
• Others

Global Medical Waste Management Market – By Treatment Site

• Offsite
• Onsit

Key Benefits of Buying this Research Study:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Medical Waste Management Market

• Highlights key business priorities in order to assist companies to realign their business strategies

• The key findings and recommendations highlight crucial progressive industry trends in the Medical Waste Management Market, thereby allowing players across the value chain to develop effective long term strategies

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

• Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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This release was published on openPR.