Industry Background:
Surgical waste management deals with disposing of the medical wastes which are generated in the treatment or immunization during the surgery of human being or animals or in any kind of research in the hospital. Surgical waste management uses various techniques to reduce the effect of waste collected and its possible risk on staff or patients staying in the hospital. The incineration method is the widely used technique of surgical waste management which is the most effective method, it is used to treat about 90% of surgical wastes in the hospitals.
According to AMA Research, the market for Surgical Waste Management is expected to register a CAGR of 11.9% during the forecast period to 2030. This growth is primarily driven by The growing need for safety of employees of the hospitals and reducing its possible adverse effects. It will help reduce sharp injury potential, resulting in the reduction of cost of direct and indirect treatment. It will reduce the risk of exposure to the harmful bloodborne pathogens and any other hospital-acquired infections. This will not only minimize environmental waste but also increase the safety of staff.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Stericycle (United States), Sharps Compliance, Inc. (United States), Veolia Environnement S.A (France), Cleanaway Daniels (Australia), Clean Harbors (United States), Republic Services, Inc. (United States), Envac Group (Sweden), Serres Oy (Finland), United Medical Waste Management (United States) and AMB Ecosteryl (Belgium), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2020, Stericycle partnered with the World Health Organization to develop a global medical waste management program.
In July 2020, Veolia and Suez partnered with the European Commission to develop a circular economy for medical waste.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Regulatory Insights:
"National legislation constitutes a basis that must be drawn on to improve waste treatment practices in a country. Many countries are currently drawing up national medical waste management plans. The Global Alliance for Vaccines and Immunization (GAVI) has been financing a project in collaboration with the WHO in this context since 2006, the aim is to help 72 countries adopt a policy, strategy, and plan for managing the wastes generated in health-care activities."
Influencing Trend:
Increasing Use of Incineration Technology for Waste Treatment Because of its Effectiveness and The Advent of New Surgical Waste Treatment Methods
Market Growth Drivers:
The growing need for safety of employees of the hospitals and reducing its possible adverse effects. It will help reduce sharp injury potential, resulting in the reduction of cost of direct and indirect treatment. It will reduce the risk of exposure to the harmful bloodborne pathogens and any other hospital-acquired infections. This will not only minimize environmental waste but also increase the safety of staff
Challenges:
Surgical Waste Management Might be a Costly Process and Adherence of Regulatory Standards on Surgical Waste Management
Restraints:
Risk of Fire and Explosion Due to Surgical Waste Management
Opportunities:
Emerging Advanced Technologies in Surgical Waste Management will Boost the Market and Stringent Regulatory Guidelines Regarding the Surgical Waste Management
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Surgical Waste Management Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Surgical Waste Management Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Surgical Waste Management players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Surgical Waste Management Study Sheds Light on
The Surgical Waste Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Surgical Waste Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Surgical Waste Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.