Market Research Future (MRFR) in its recently published study report asserts that the already booming market of Medical Waste Management Equipment is expected to gain prominence over the forecast period. The market is forecasted to reach USD 13.5 Billion by the end of 2023, growing at a steady CAGR during 2017-2022.
Global Medical Waste Management Equipment Market – Competitive Landscape
The key players in the medical waste management market are Clean Harbors (US), Republic Services Inc. (US), MedPro Medical Waste Disposal (US), Waste Management Inc. (US), and Stericycle Inc. (US) and others. Various competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments are taking place in the global medical waste management equipment market.
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Global Medical Waste Management Equipment Market – Key developments
Companies are continuously developing new products to capture the market globally. Thus major players invest more in research and development activity, in order to lead the global market. In this regards, market players undertake various strategic approaches.
Sun Pacific Holding Corp.
In June 2018, Sun Pacific Holding Corp. announced the progress of the company’s Rhode Island medical waste to energy project. In February 2018, the company had launched a Medical Waste to Energy project in Johnston, Rhode Island, which would process up to 70 tons of medical waste per day.
MedPro Medical Waste Disposal
Based in the United StatesMedical Waste Disposal, MedPro Medical Waste Disposal offers various services such as Biohazard Waste Disposal, Compliance, OSHA Quick Start Guide, Sharps Disposal, Mail Back Program, Pharmaceutical Mailback, Secure Document Shredding and many more.
Waste Management Inc.
Waste Management Inc. is an environmental solutions provider in North America with U.S. and Canada being the major markets. Medical waste collection services and medical waste disposal by mail are the two major services offered by the company under healthcare waste management.
July, 2015: Waste Management Inc. announced the launch of a new fleet of Compressed Natural Gas (CNG) fueled trucks at the company’s facility on Conrad Place in Waterloo.
Republic Services Inc.
Based in the United States, Republic Services Inc. provides non-hazardous solid waste collection, transfer, disposal, recycling, and energy services.
July 2016: Republic Services Inc. announced a new renewable energy project with Mas Energy to serve the metropolitan Atlanta area, which includes three landfill gas to energy facilities in Buford, Griffin and Winder. The facilities will produce 24.1 megawatts of electricity and. The three facilities will be the largest landfill gas-to-energy project in Georgia and will provide the U.S. economy with advantages such as reducing air pollution through the capture and use of methane. As of December 31, 2015, Republic Services operated 69 landfill gas and renewable energy projects.
In April 2015: Republic Services opened a landfill gas-to-energy project near Los Angeles.
Stericycle Inc.
Stericycle Inc. offers various waste management services for biohazardous waste, pharmaceutical waste, controlled substance waste, industrial hazardous waste, household hazardous waste and others.
Global Medical Waste Management Equipment Market – Segmentation
The medical waste management market is majorly segmented on the basis of types of waste, type of product, and method, site of treatment. Based on the type of waste the market is segmented into; infectious waste, non-infectious/hazardous waste, radioactive waste, medical disposables. Further on the basis of products, the market is again classified into; autoclave, sterilization equipment, microwave, others. Similarly, depending upon the method of waste management the market is further divided into; recycling, disposal, mechanical/chemical disinfection, irradiation, among others.
Global Medical Waste Management Equipment Market – Overview
The Global Medical Waste Material Management Equipment Market has been evaluated as rapidly growing market and expected that the market will reach high growth figures due to increasing growth in research and hospital sector which are two main sectors of medical waste. However the high cost of machines is a factor of worry for the consumers.
The Medical Waste Management Equipment Market is growing rapidly. Increasing number of hospitals facilities and research, in the field of pharmaceutical, chemicals and life sciences had created a large market for these equipment. The need for this medical waste to be treated, due to its hazardous nature has increased in recent years. These wastes are also considered as among the top sources of mercury and dioxin pollution. Treatment of these medical waste has made compulsory by the government in many countries for environmental safety.
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