Medical Waste Management Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4178
Medical Waste Management Market size is projected to experience significant growth from 2019 to 2025.
The waste materials produced from health care facilities such as hospitals, medical research facilities, medical laboratories, clinics, ambulatory surgical centers, blood banks and veterinary hospitals is called as medical waste. Medical waste includes used bandages, used surgical gloves, culture dishes, used needles, discarded surgical instruments, removed body organs, cultures, stocks, swabs, discarded lancets etc.
With growth in the overall healthcare industry, the demand for medical waste management will also rise. Growing number of surgeries, increasing number of hospitals and growing adoption of ambulatory surgical centers will result in more medical waste throughout the world. Such, factors will augment the growth of medical waste management market over the forecast period.
The increasing concern for environment all over the globe will drive the market. Regulatory bodies of developing as well as developed economies have formulated strict guidelines for medical waste disposal that will boost the growth of global medical waste management market. The rising population across the globe will subsequently increase the number of patients thereby, driving the demand for medical waste management during the coming years.
Moreover, improving technological research resulting in advancement of medical waste management will boost the market growth. However, lack of awareness about impact of medical waste on environment and lack of skilled labor for proper waste management could hamper the industry growth.
Incineration segment contributed for the largest share by treatment in the global medical waste management market in 2018. The reason for this large share is due to easy and cost-effective nature of this method of waste treatment. Although, incineration process release toxins in the air and there is a rise in concern for global warming. These factors will restrict the segmental growth.
The U.S. contributed for the largest share in the global medical waste management market in 2018. This large share is attributed to presence of strict government regulations regarding disposal of medical waste, highly developed healthcare infrastructure, rising adoption of advanced equipment for waste disposal and the presence of key market players in the region. Also, high healthcare expenditure will fuel market growth.
The fastest growing market in the global medical waste management market is Japan during the analysis period. This growth is due to the fast pace adoption of advanced technology, growing geriatric population prone to medical treatments and increasing developments in the waste disposal regulations. Above mentioned factors will drive the demand for medical waste management in Japan.
Market players such as Stericycle Inc., Suez Environment S.A., Clean Harbors Inc., Veolia Environment S.A., Sharps Compliance Inc., Remondis Medison, Daniels Sharpsmart Inc., Republic Services Inc., BioMedical Waste Solutions LLC. and Waste Management Inc contribute for a significant market share. Acquisitions, capacity expansion, technological developments, partnerships and mergers account for major strategic initiatives taken by these players to expand their market presence.
Medical Waste Management Market by Type, 2014-2025 (USD Million)
Medical Waste Management Market by Treatment, 2014-2025 (USD Million)
- Chemical treatment
Medical Waste Management Market by Service, 2014-2025 (USD Million)
- Collection, Transportation & Storage
Medical Waste Management Market by Site, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Stericycle Inc.
- Suez Environment S.A.
- Clean Harbors Inc.
- Veolia Environment S.A.
- Sharps Compliance Inc.
- Remondis Medison
- Daniels Sharpsmart Inc.
- Republic Services Inc.
- BioMedical Waste Solutions LLC.
- Waste Management Inc
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