Medical waste refers to the waste originated within medical amenities such as hospitals, clinics, veterinary hospitals/clinics, dental practices, physician’s offices, laboratories, blood banks and research and development centers (R&D) related to healthcare. The medical waste management program is critical for the public health, environment, and sanitation. Unlike municipal waste treatment the medical waste management involves various stages of waste management, such as accumulation, generation, storage, handling, treatment, transport, and disposal.
Stringent environment and health safety regulation by governments worldwide, and the growth of pharmaceuticals and healthcare industry in developing market, are some of the predominant drivers of the medical waste treatment market. In the U.S. the government has regulated the medical water treatment under U.S. Environmental Protection Agency’s (EPA) Resource Conservation and Recovery Act (RCRA).
High investment of initial setup coupled with lack of industrial recycling facilities specially in developing reason are some of the common factors restraining the growth of the medical waste treatment market. Moreover the lack of awareness towards waste management and recycling and lack of regulatory measures by the government in the developing market is hindering the growth of the medical waste treatment market especially in the developing market. However country such as India, China, and Malaysia are expected to witness a considerable growth in the forecast period attributed to rising medical tourism in this region.
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Some of the major players operating in global medical waste management market include, Clean Harbors, Inc., Hawaii Bio-Waste Systems Inc. (HBW), Healthcare Environmental Services Group, Medclean Technologies Inc., Medasend Biomedical Inc., Miller Group, Republic Services Inc., Suez Environnement, Waste Management Inc., Aipura LIC, Stericycle Inc. and Gamma Waste Systems.
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