Global Medical Waste Management Market
Medical waste is potentially infectious, generated at health care facilities such as clinics, hospitals, veterinary hospitals and medical research facilities and laboratories. Improper management of waste may cause serious health hazards. Medical waste can be divided into infectious waste, pathological waste, sharps (syringes, needles.), chemicals, pharmaceuticals, genotoxic waste, radioactive waste and non-hazardous or general waste.
Medical Waste Management Industry Dynamics:
Global medical waste management market is driven by awareness about complications related to inappropriate medical waste management and growth in healthcare industry. Furthermore, government regulations such as Medical Waste Tracking Act 1988, emergence of advanced waste disposal techniques and rising number of R&D activities and healthcare activities which produce more waste are expected to boost the market. However, lack of awareness and training in the proper medical waste management is expected hamper the market growth during the forecast period.
Medical Waste Management Market Segmentation:
Global medical waste management Market is segmented based on services, treatment and type of waste
Based on services, the Market is segmented into
- Collection, Transpiration & Storage
Based on treatment, the Market is segmented into
- Chemical Treatment
Based on type of waste, the Market is segmented into
- Hazardous Waste
- Non-Hazardous or General Waste
Medical Waste Management Market overview:
Global medical waste management market is expected to grow at notable rates owing to various initiatives taken by non-government and government agencies in creating awareness and promoting the effective medical waste management. For instance, U.S., UK, India and others have framed regulations and rules for management of medical waste. Companies are adopting various strategies such as developing innovative management techniques and collaborating to increase the market share. For instance, in August 2011, WM Healthcare Solutions, Inc. (Waste Management, Inc.) collaborated with DaVita Inc. and BD (Becton, Dickinson and Company) to launch dialyzer recycling pilot in 106 DaVita dialysis in Southern California.
Medical Waste Management Market Region Overview:
Geographically, global medical waste management market is segmented into following regions, viz. North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe. North America is expected to account for major growth in global market owing to factors such as presence of well-established healthcare infrastructure, rising awareness and growing number of diseases led to R&D that produces the more chemical and healthcare wastes. Asia Pacific is expected to show rapid growth owing to rising awareness and establishment of stringent regulations by the government on medical waste management.
Competition Assessment: Medical Waste Management Market
Some of the players in global medical waste management Industry are Waste Management, Inc. (U.S.), Stericycle, Inc. (U.S.), BioMedical Waste Solutions, LLC (U.S.), Republic Services, Inc. (U.S.), Remondis Medison GmbH (Germany), Suez Environnement S.A. (France), Clean Harbors, Inc. (U.S.), Veolia Environnement S.A. (France), Curtis Bay Medical Waste Services (U.S.), and Tox Free Solutions Ltd. (Australia).
Market Developments: Medical Waste Management Market
- In October 2016, Tox Free Solutions Ltd. Acquired Daniels Health Pty Ltd and Daniels Manufacturing Australia Pty Ltd. A leading provider of medical waste management solutions to strengthen its market share.
- In January 2014, Curtis Bay Medical Waste Services, acquired assets of Culver Enterprises Inc., a medical waste management firm. This acquisition will expand the geographical footprint of Curtis Bay.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (201 to 2017) and forecast (2018 to 2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market