Medical waste management market accounted for over US$ 6.6 billion in 2019. The market is anticipated to grow at a CAGR of 5.3% from 2020 to 2030.
This market growth can be attributed to several factors, which have led to its wide-scale adoption. The growing incidents of infectious diseases coupled with an increasing volume of healthcare waste and the implementation of various regulations for the management of medical waste are anticipated to further contribute to this substantial growth between 2020 and 2030. However, the lack of training for proper disposal is likely to restrain market growth to a certain extent.
Major Key Players of the Medical Waste Management Market are:
Stericycle, Veolia, SUEZ, WM Intellectual Property Holdings, L.L.C., CLEAN HARBORS, INC., REMONDIS SE & Co. KG, Bio Medical Waste Solutions, LLC., Daniels Health, Republic Services, Inc., and EcoMed, among others.
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To obtain better insights regarding the market scenario, prominent players are focusing on collaborative initiatives with several institutions, research centers, and companies. For instance, in April 2019, Waste Management announced plans to acquire smaller rival Advanced Disposal Services for about $3 billion in cash. This acquisition will result in the growth of Waste Management’s footprint and allow it to deliver unparalleled access to differentiated, sustainable waste management and recycling services to customers of Advanced Disposal Service.
Growing incidents of various diseases have led to increasing treatments and surgeries at hospitals, in turn, increasing the volume of medical waste. Furthermore, the emergence of new diseases has generated the need for new curable drugs for treatment, resulting in a rise in R&D activities. Pharmaceutical companies will, in turn, support growth of the market over the forecast period.
The Medical Waste Management Market is segmented on the basis of Type of Waste, Service and region.
Major Types of Medical Waste Management Market covered are:
- Non-hazardous Waste
- Hazardous Waste
Major Service of Medical Waste Management Market covered are:
- Collection
- Transportation, & Storage Services
- Treatment & Disposal Services {Incineration, Autoclave, and Chemical Treatment}
- Recycling Services
Several regulatory bodies, such as Occupational Safety and Health Administration (OSHA), the Centers for Disease Control (CDC), the U.S. Food and Drug Administration (FDA), the Department of Transportation (DOT), and the Drug Enforcement Administration (DEA) have implemented various regulations for the management of medical waste. The increasing number of initiatives by government authorities is another factor that will further propel its adoption in the coming years.
However, the lack of training for proper waste disposal is one of the major factors hampering market growth. Also, the lack of training with regards to medical waste management poses serious risks to the health of personnel. The major reasons for lack of training are budget constraints, lack of skilled trainers, and lack of willingness to provide training.
Research objectives:-
– To study and analyze the global Medical Waste Management consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Medical Waste Management market by identifying its various sub-segments.
– Focuses on the key global Medical Waste Management manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Medical Waste Management with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Contents
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecast Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- GLOBAL MEDICAL WASTE MANAGEMENTMARKET – ANALYSIS & FORECAST, BY TYPE OF WASTE
- Non-hazardous Waste
- Hazardous Waste
- GLOBAL MEDICAL WASTE MANAGEMENTMARKET – ANALYSIS & FORECAST, BYSERVICE
- Collection, Transportation, & Storage Services
- Treatment & Disposal Services
- Incineration
- Autoclaving
- Chemical Treatment
- Other Treatment
- Recycling Services
- GLOBAL MEDICAL WASTE MANAGEMENTMARKET – ANALYSIS & FORECAST, BY TREATMENT SITE
- Offsite Treatment
- Onsite Treatment
- GLOBAL MEDICAL WASTE MANAGEMENT MARKET – ANALYSIS & FORECAST, BY WASTE GENERATOR
- Hospitals
- Pharmaceutical Companies
- Others
- GLOBAL MEDICAL WASTE MANAGEMENTMARKET – ANALYSIS & FORECAST, BY REGION
- North America Medical Waste Management Market
- Europe Medical Waste Management Market
- Asia Pacific Medical Waste Management Market
- Rest of the World (ROW) Medical Waste Management Market
- COMPANY PROFILES (Business Overview, Products Offered, Financial Performance, Recent Developments)
- Stericycle
- Veolia
- SUEZ
- WM Intellectual Property Holdings, L.L.C.
- CLEAN HARBORS, INC.
- REMONDIS SE & Co. KG
- BioMedical Waste Solutions, LLC.
- Daniels Health
- Republic Services, Inc.
- EcoMed *Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
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In the end, Medical Waste Management industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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