About Medical Waste Management
Medical wastes refer to all waste, biological or nonbiological products that are discarded and not intended for further use. The medical waste consists of materials generated as a result of immunization, treatment, and diagnosis of human beings and animals. The global medical waste management market is driven by several factors such as increasing initiatives by regulatory authorities for improving medical waste management services, rising aging population, increasing number of conferences and symposia, and the generation of large amounts of medical waste. The outsourcing of medical waste management services and technological advancements has opened an array of opportunities for market growth. However, the need for high capital investment is expected to restrain the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Medical Waste Management market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Medical Waste Management Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stericycle (United States), Veolia Environnement S.A. (France), Suez Environnement (France), Clean Harbors (United States), REMONDIS AG & Co. KG (Germany), Sharps Compliance, Inc. (United States), Waste Management, Inc., (United States), BioMedical Waste Solutions, LLC (United States), Daniels Sharpsmart Inc. (Australia), Republic Services, Inc. (United States), EcoMed Services (United States), GRP & Associates (United States), BWS Incorporated (United States), MedPro Disposal (United States) and GIC Medical Disposal (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Gamma Waste Services (United States), Triumvirate Environmental (United States), EPCO (Saudi Arabia), Casella Waste Systems, Inc. (United States), All Medical Waste Australia Pty Ltd. (Australia) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Medical Waste Management market by Type (Sharps, Pathological Waste, Pharmaceutical Waste, Chemical Waste, Infectious Waste, Gene Toxic Waste and Others), Application (Hospitals, Retail Pharmacy, Laboratories, Blood Banks, Research Institutions and Others) and Region.
On the basis of geography, the market of Medical Waste Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Treatment Technology, the sub-segment i.e. Non-incineration system will boost the Medical Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Disposal will boost the Medical Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Nature of Wastes, the sub-segment i.e. Non-hazardous will boost the Medical Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. Controlled will boost the Medical Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Treatment Sites, the sub-segment i.e. Offsite will boost the Medical Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Value-Oriented Customers and Increasing Demand from Asia-Pacific Regions
Market Growth Drivers:
Increase in Generation of Healthcare Waste and Rising Geriatric and Obese Populations
Challenges:
Potential Pollution Risk Associated with Incineration Processes and Lack of Skilled Professional for Proper Disposal of Waste Products
Restraints:
High Capital Investments and Lack of awareness about health hazards
Opportunities:
Growing Concerns over Eco-friendly and Safe Waste Management & Treatment Process and Upsurge Government Initiatives towards Medical Waste Management
Market Leaders and their expansionary development strategies
In January 2018, Meridian Waste Solutions acquired Envicare, a medical waste disposal business. This acquisition will enable waste transportation and disposal solutions for regulated and specialized waste, pharmaceutical disposal solutions, sharpes management services, controlled substance waste solutions, integrated waste solutions for large healthcare facilities, and compliance training and education for the healthcare industry.
In December 2017, Bertin Technologies launched an innovative sterilwave 100 which is an ultra-compact solution for biohazardous waste management. This solution offers high-performance traceability, efficiency, and quality of equipment to meet the needs of healthcare clinics, hospitals, laboratories, and others.
“According to OSHA Regulations, medical wastes require careful disposal and containment before collection and consolidation for treatment. They are used to dictated initial measures for discarding regulated medical-waste items. These measures are designed to protect the workers who generate medical wastes and who manage the wastes from point of generation to disposal.”
Key Target Audience
Medical Waste Management Manufacturers, Medical Waste Management Suppliers, End-Use Market Participants of Different Segments of Medical Waste Management, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.