Medical Waste Management Market Growth Trends, In-depth Analysis, Business Strategies, and Growth Rate
This report studies the current as well as future prospects of the global medical waste management market. Stakeholders of this report include companies and intermediaries engaged in the medical waste management services as well as new entrants planning to enter this market.
This research study analyzes the global market for medical waste management in terms of revenue (US$ Mn). For the research, 2016 has been considered as the base year and 2015 as the historical year, while all forecasts have been provided from 2017 to 2025. The global medical waste management market has been studied on the basis of nature of waste, waste types, waste generator types, and types of services provided by the players operating in the global medical waste management market. The global medical waste management market report comprises an elaborate executive summary that provides overall information about various segments of the market. The report provides a detailed competitive landscape, by major players operating in this market along with their shares (value %) of the global medical waste management market for 2016. The report also provides detail company profiles of emerging market players operating in the global medical waste management market.
The market overview section comprises impact factors such as key market dynamics including drivers, restraints, and opportunities, affecting the demand for medical waste management services in the global market. These factors would aid the stakeholders in establishing a strong foothold in the global medical waste management market. Furthermore, the market overview section comprises key industry events, product overview, and market attractiveness analysis in the global medical waste management market. The market attractiveness analysis provides a graphical view comparing the growth and market dynamics in various segments and countries to identify the most attractive market.
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Medical Waste Management Markets: Snapshot
The global medical waste management market was valued at over US$ 10 Bn in 2016 and is expected to expand at the CAGR of above 5% during the forecast period of 2017 to 2025. Increase in incidence and prevalence of infectious and life style diseases, rapidly growing population, rise in healthcare expenditure, and adoption of novel technologies to treat the diseases are the major factors responsible for rise in the generation of medical waste. According to World health Organization (WHO), developed regions about 0.5 kg of hazardous waste per hospital bed per day; whereas developing regions generate on average 0.2 kg. Stringent regulations and rising health care costs leading to outsourcing of waste management, initiatives by governments and non-government organizations (NGOs) to manage medical waste, and technological advancements in the methods of waste disposal are the factors expected to drive the medical waste management market growth during the forecast period. However, lack of awareness about proper methods of waste segregation among healthcare workers, and high initial capital investment required to establish a medical waste disposal facility are the factors restraining the medical waste management market.
The global medical waste management market has been segmented based on nature of waste, waste types, waste generator type, types of services provided by the players, and by geography. In terms of nature of waste, the global medical waste management market has been segmented into non-hazardous medical waste and hazardous medical waste. The non-hazardous medical waste was estimated to hold maximum market share in 2016. However, the hazardous medical waste segment is anticipated to grow significantly faster during the forecast period. According to World health Organization (WHO), non-hazardous and hazardous waste contributes 85% and 15% of the total medical waste generated respectively, among these, the non-hazardous waste is not properly separated owing to low awareness in low income countries making the real quantity of hazardous waste much higher.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customers touch points. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
Key Players of Medical Waste Management Report:
Major players operating in the global medical waste management market includes CLEAN HARBORS, INC., Stericycle, Waste Management, Inc., Republic Services, Inc., Sharps Compliance, Inc., Veolia, Daniels Health, US Ecology, Inc., BioMedical Waste Solutions, LLC., and BWS Incorporated. The emerging players in the global medical waste management market includes ALBA Services GmbH & Co. KG, SUEZ, GRP & Associates, Inc., among others. The key players are expanding their service portfolio by applying strategies such as mergers and acquisitions; new service launches such as mail back system; and expanding geographic reach with enhanced facility and distribution network. For instance, in August 2016, Sharps Compliance, Inc., received approval for its new facility in Northeastern Pennsylvania, U.S. This facility includes medical waste treatment, and a transfer station for pharmaceutical waste.
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