Press release
Medical Waste Management Market by Type of Waste (Non-Hazardous, Infectious, Sharps, Pharmaceuticals), Service (Treatment, Disposal, Recycling), Treatment Type (Incineration, Autoclaving), Treatment Site (Offsite, Onsite) - Global Forecast 2024
Medical waste management refers to the proper processing of waste generated by various healthcare institutions such as laboratories, bloods banks, clinics, hospitals and more. The rise of medical waste management solutions has played a vital role in preventing toxic compounds released from different healthcare institutions into water and land. Medical waste management solutions treat waste maturely by adopting eco-friendly treatment processes. These treatments are environment friendly and emit zero toxic compounds. Growth of overall healthcare and medical industry is triggering the spontaneous demand of these systems. In addition, rising diseases such as chronic disorders and cancers, increasing geriatric population, and wide number of road accidents result in higher demand for these medical solutions. The development of advanced manufacturing techniques for medical devices in pharmaceuticals industry and drugs is growing rapidly. The rise in multispecialty clinics, hospitals and diagnostic centers that necessitate the large number of inventories for daily demand fulfillment is also leading to the generation of more waste. Thus, overall growth in healthcare industry is directly related with rising patient population and requires extended medical and surgical aid, which is further fueling the growth of medical waste management market.
Market Dynamics
Medical Waste Management Market is driven by rising aging population, stringent regulations for medical waste management, and generation of wide amount of medical waste from various end users. In addition, rising demand for safe waste management employing eco-friendly treatment process is further driving the market growth. The rapid growth in healthcare industry would result in generation of more amount of medical waste, thus posing a significant growth opportunity for market. However, inadequate knowledge about waste management, lack of awareness towards the ill-effects on health hazards, lack of training for proper disposal, and insufficient funds have stalled the market growth of global medical waste management market. Initiatives from governments to raise funds and support effective waste management is expected to drive the market growth in coming years.
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Market Classification
The market can be bifurcated on the basis of treatment site, type of waste, treatment type, geography. By treatment site, the medical waste management market can be segmented into onsite and offsite. Onsite medical waste management category is further segmented into collection, treatment, recycling whereas offsite category is further segmented into treatment; recycling; and collection, transportation, and storage. By type of waste, the medical waste management market can be segmented into hazardous and non-hazardous. Hazardous waste management category is segmented into infectious, pathological waste, sharps, and pharmaceuticals. By treatment type, the medical waste management market can be segmented into incineration, chemical treatment, and autoclaving. On the basis of geography, the global medical waste management market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
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Report Coverage
Market Global Medical Waste Management Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Treatment site, Type of waste, Treatment type, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter’s Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
Market Participants
Some of the major players involved in the medical waste management market include BioMedical Waste Solutions, LLC, Clean Harbors Inc., Daniels Sharpsmart, Inc., REMONDIS Medison GmbH, Republic Services, Inc., Sharps Compliance, Inc., Stericycle, Inc., Suez Environment S.A., Veolia Environment S.A., and Waste Management Inc., and among others.
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Market Segmentation
Market By Treatment site
Onsite
o Collection
o Recycling
o Treatment
Offsite
o Collecting, storage, transportation
o Recycling
o Treatment
Market By Type of waste
Non hazardous
Hazardous
o Infectious
o Pathological waste
o Sharps
o Pharmaceuticals
Market By Treatment type
Incineration
Chemical treatment
Autoclaving
Market By Geography
North America
o U.S.
o Canada
o Mexico
Europe
§ UK
§ France
§ Germany
§ Rest of Europe
Asia-Pacific
§ China
§ Japan
§ India
§ Australia
§ Rest of Asia-Pacific
LatinAmerica
§ Brazil
§ Chile
§ Rest of LATAM
Middle East and Africa (MEA)
§ South Africa
§ Saudi Arabia
§ Rest of MEA
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About Us
Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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