A Comprehensive Study Exploring Medical Waste Management Market | Key Players BioMedical Waste Solutions, Clean Harbors, Stericycle, Veolia Environnement

The Latest survey report on Medical Waste Management Market sheds lights on changing dynamics of each of the subsegments of Industry. As the shift to value continues, Medical Waste Management organizations have the dual challenge of increasing interoperability to improve clinical performance and the patient experience. Some of the companies listed in the study from complete survey list are Stericycle, Veolia Environnement S.A., Suez Environnement, Clean Harbors, REMONDIS AG & Co. KG, Sharps Compliance, Inc., Waste Management, Inc., BioMedical Waste Solutions, LLC, Daniels Sharpsmart Inc., Republic Services, Inc.

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Summary

Medical waste is the waste produced by healthcare facilities like physician’s offices, hospitals, dental practices, laboratories, medical research facilities, and veterinary clinics that contain infectious material. Medical waste can include bodily fluids like a serum, blood, or other contaminants. According to the Medical Waste Tracking Act (1988), Medical Waste is a waste generated during medical research, testing, diagnosis, immunization, or treatment of either human beings or animals. Few examples are glassware, culture dishes, bandages, gloves, discarded sharps like needles or scalpels, swabs, and tissue.

The demand for Medical Waste Management is increasing on account of the rising aging population, which in turn is increasing the number of patients suffering from chronic or infectious diseases leading to a rising volume of medical waste. Consequently, with the increasing volume of medical waste, government organizations, all over the world, are taking various initiatives for the management of medical waste. For example, in India, the Ministry of Environment and Forests (MoEF), Government of India, notified the Bio-Medical Waste (Management and Handling) (Amendment) Rules, 2003, and Medical Waste Management and Handling Rules, 1998 to provide obligatory and statutory guidelines for medical waste management. In addition, the rising awareness regarding medical waste management is also driving market growth.

However, some of the restraints in the market are the requirement for huge capital investments, because of the need for high-value machinery and new technology equipment

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Based on Service, the market is fragmented into Collection, Transportation, & Storage Services, Treatment & Disposal Services, and Recycling Services. The collection, transportation, and storage services segment is expected to grow at lucrative during the forecasted period owing to the presence of stringent regulations for the collection, transportation, and storage of medical waste. Moreover, the factors such as an increase in medical waste volume, and the development of research laboratories or hospitals also propel the segment growth. As per Biotic Waste Management, one of the leading common biomedical waste treatment facilities in Delhi, Covid-19 waste generated last July was around 7.2 tonnes per day, which increased to 12.5-13 tonnes per day by the end of April 2021.

Based on the Type of Waste, the market is bifurcated into Non-hazardous Waste and Hazardous Waste. The Non-hazardous Waste segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to the rise in the number of clinics & hospitals, and surge in demand for healthcare products for the treatment of diseases. According to WHO, of the total amount of waste generated by healthcare activities, about 85% is general, non-hazardous waste.

Based on the Treatment Site, the market is bifurcated into Offsite Treatment and Onsite Treatment. The Offsite segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to the rising prevalence of chronic diseases, high advancements in the R&D sector in healthcare, and the use of innovative technology in waste management.

Based on Waste Generator, the market is fragmented into Hospitals & Diagnostic Laboratories, and Other Waste Generators. The Hospitals & Diagnostic Laboratories segment dominated the market in 2020 and is expected to grow at a lucrative growth during the forecast period owing to the rising number of Hospital and Diagnostic Laboratories all over the world, and the increase in medical waste generation.

For a better understanding of the market adoption of Medical Waste Management, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Medical Waste Management market on account of the growing aging population and stringent regulations in this region.

Some of the major players operating in the market include Stericycle, Veolia Environnement S.A., Suez Environnement, Clean Harbors, REMONDIS AG & Co. KG, Sharps Compliance, Inc., Waste Management, Inc., BioMedical Waste Solutions, LLC, Daniels Sharpsmart Inc., Republic Services, Inc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

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1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Medical Waste Management Market
2.2. Research Methodology of the Medical Waste Management Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the Medical Waste Management Market Study
3 MARKET SYNOPSIS
4 EXEC

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