Medical Waste Management Market anticipated to reach US$ 8,681 Million by 2025
Published | 10 September 2019
BlueWeave Consulting review
study of Medical Waste Management Market anticipated to reach US$ 8,681 Million
by 2025 with a significant CAGR of 5.3% in the forecast period of 2015-2025.
The growing population
across the globe is expanding the number of patients, resulting in the rising
volume of medicinal waste. Also, the increasing prevalence of diseases such as
cancer & other chronic disorders and increasing geriatric population
results in higher demand for these propelled the medical waste management
market. The Central Pollution Control Board has additionally issued guidelines
on the Central Bio-medical Waste Treatment Facilities (CBWTF). The expanding
number of innovative initiatives by the government authorities is driving the
medical waste management market.
The developing trend of
government R&D in technological research is the prime aspect that are
straightforwardly responsible for driving the global medical waste management
market. The Asia Pacific is anticipated to open growth prospects for the medical
waste management market in the forecast period of 2019-25 in the healthcare
sector.
Incineration
segment holds the largest market share of Medical waste management during the
forecast period
Incineration is the most
widely and highly preferred method used in the medical waste management
industry. The Environment Protection Agency has imposed strict regulations
regarding incineration due to the expanding level of global warming, which has
led to the inhibition of emitting harmful gases that affect global warming. The
Canadian Council of Ministers of the Environment has currently proposed new
incinerator emission standards rules and regulations that will reduce current
dioxin and mercury emissions by a higher percentage. Additionally, technology
advancement and the rising generation of excess medical waste across the globe
are anticipated to propel the growth of the medical waste management market in
the forecast period.
Awareness
among people & strict waste management regulation is predicted to be the
major market driven factor in the Medical waste management industry.
Awareness among people
regarding the disposal of medical waste and taking care of their safety from
harmful medical waste are the major trend currently driving the market growth.
Regulated waste disposal generally costs more than unregulated waste disposal.
The growth of the overall medical and healthcare industry is driving the demand
for medical waste management systems. In the U.S. and European countries, due
to strict regulations, most medical waste management service providers require
government permits, approvals, certificates from all jurisdictions in which
they operate. In India, the Ministry of Environment and Forests (MoEF),
Government of India, declare the Medical waste management and Handling Rules,
1998 and the Bio-Medical Waste (Management and Handling) (Amendment) Rules,
2003, to provide legal and mandatory guidelines for healthcare and medical
waste management industry.
Medical
waste management Market: Competitive Landscape
Medical waste management is
one of the biggest challenges being faced by healthcare organizations
currently. It is often complicated by state and local regulations. The major
market players in the medical waste management are focusing on explaining their
portfolio of services and products in the waste management market. Such as
BioMedical Waste Solutions, LLC, Suez Environment, Stericycle, Republic
Services, Daniels Sharpsmart Inc., Remondis Ag & Co. Kg, Veolia
Environnement S.A., XMED Disposal, Inc., American Ecology Corporation, Suez
Environnement S.A, and other prominent players.
Browse Detailed Analysis
with TOC, “Global Medical Waste
Management Market Trend & Segmentation By Facility Type (Hospital Waste
Management and Pharmaceutical Waste Management, by Type of Waste (Hazardous,
Non-Hazardous), By Treatment Type (Chemical, Incineration, Autoclaving), By
Services (Collection, Transportation & Storage, Recycling, and Treatment
& Disposal), By Treatment Site (Onsite, Offsite), By Region (North America,
Europe, Asia Pacific, Middle East & Africa and Latin America); Trend
Analysis, Competitive Market Share & Forecast, 2015-2025”
At
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