Medical Waste Management Market - Small Quantity Waste Generators to Contribute Significantly to Revenues of Medical Waste Management Service Providers, says TMR

The competitive landscape of the global medical waste management market comprises a large number of locally owned companies along with firms with a multinational reach. These companies compete intensely over prices of the products, reports Transparency Market Research (TMR) in a new study. A common trend in the global medical waste management market is the acquisitions of small companies by large companies in order to increase their consumer base across different regions. For instance, Stericycle, Inc. has acquired more than 350 companies across the globe in a bid to establish a presence in high-potential regions.

Get Free Sample Research Report: http://bit.ly/2bdJgiC

Some of the key companies are Stericycle Inc., Republic Services Inc., Waste Management Inc., and Clean Harbors Inc. “The onsite treatment of regulated medical waste materials by bulk producers of waste such as hospitals and big pharmaceutical companies is regarded as one of the major challenges to the global medical waste management market,” says the author of the report. However, the low threat of new entrants due to high capital investment will keep the overall competition level medium clearing the way for larger companies to expand their business.

Government Regulations to Help in High Adoption of Medical Waste Management Systems

To ensure the safe handling and disposal of hazardous medical waste, governments of countries such as France, Germany, Italy, Japan, Spain, the United States, and the United Kingdom have obligated proper disposal of medical waste in their respective countries. As a result, the healthcare sector is seeking help from companies offering waste management services. Therefore, these government legislations and regulations are encouraging the growth of the global medical waste management market.

During the recent times, non-incineration technologies have been largely deployed as an alternative method to incineration, which results in harmful gaseous emissions such as dioxins, carbon monoxide, furan, and sulfur dioxide. The increasing global pressure to cut down these emissions has encouraged the demand for non-incineration technologies, thereby propelling the growth of the global medical waste management market.

Another factor influencing the growth of the global medical waste management market is the rising geriatric population. The fact that aged people require more diagnostic tests, medications, and surgical procedures ultimately stimulates the need for medical waste management systems for this demographic. The increase in the number of off-site treatment alternatives will also result in an increased amount of medical waste generated, thus heightening the demand for medical waste management system. These factors are contributing to the robust growth of the global medical waste management market.

High Competitive Rivalry to Adversely Affect Overall Revenue Earnings

State licensing, vehicles for waste transfer, storage sites, and land filling sites required for safe and legal waste management systems demand high capital investment. This is likely to impede the growth of the global medical waste management market and pose a barrier for new entrants.

The global medical waste management market is highly fragmented with a large number of regional and local players. These small and local players provide waste management services at low prices, thereby affecting the prices set by large companies and giving rise to a price war among players. The price war is likely to act as a restraint that may reduce the overall revenue earnings of the global medical waste management market.

However, vendors are shifting their focus towards small quantity waste generators which offer relatively higher profit margins, thereby creating new growth opportunities for the global medical waste management market.

High Adoption Rate of Processing Amongst Vendors Owing to Extra Income Earned through it

In 2015, the valuation of the global medical waste management market was US$16.60 bn and is anticipated to reach US$20.13 bn by 2019, at a positive CAGR of 4.8% between 2013 and 2019.

In terms of waste generators, the market is segmented into large quantity generators (LQGs) and small quantity generators (SQGs). The LQGs will be the leading segment by revenue between 2015 and 2019. This segment was valued at US$11.34 bn in 2015 and is expected to reach US$12.94 bn by 2019. However, the SQGs segment will show the most rapid growth during the same period owing to the ever increasing patient population and restrictions over on-site disposal of hazardous or infectious waste.

By activity type, the collection segment was the leading segment by revenue in 2015 and is anticipated to hold the dominant share in the coming years. However, the processing segment is estimated to show fast growth owing to the growing utilization of non-incineration technologies for waste management. Processing is adding another stream of income for the vendors operating in the medical waste management industry.

Browse Research Report on Medical Waste Management Market : http://bit.ly/2bbqpup

Based on geography, North America is expected to hold a dominant share of revenue from 2015 to 2019. The valuation of the North America segment was US$7.24 bn in 2015 and is estimated to rise to US$8.71 bn in 2019. The Asia Pacific region, however, will be the fastest growing segment during the same period influenced by factors such as the high economic growth in key countries, increasing awareness level and rising healthcare expenditures.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.