NEWS: Medical Waste Management Market — Global Industry Analysis and Forecast 2020 to 2027
MEDICAL WASTE MANAGEMENT MARKET: Summary
The Global Medical Waste Management Market is projected to register growth and reach USD 19.5 Billion with a CAGR of 5.3% within the study period.
Medical waste or healthcare waste can be termed as any kind of the waste material generated at the time of medical procedures, diagnosis, treatment or research carried on human or animals. Source of medical waste generation ranges from blood banks, dental clinics, medical laboratory, research facilities to hospitals and diagnostic centers. Medical waste management including procedures or services including the collection, handling, disinfection/sterilization, and disposal of the waste in order to eradicate any chance of infection.
MEDICAL WASTE MANAGEMENT MARKET: Drivers & OPPORtunity
Market Driver:
- Growth in Infectious Diseases
Growing healthcare industry leads to the production of medical waste resulting in adverse health effects. The outbreak of the infectious diseases creates an enormous burden on both, public health as well as economic stability. Such diseases contribute to the leading cause of death and disability worldwide hampering health and human progress. Rapid rise in the prevalence of tuberculosis, influenza, diphtheria, HIV/AIDS and some zoonotic diseases. The World Health Organization (WHO) reveals that it is one of the leading cause of death worldwide. It further stated that in 2018, approximately 1.5 million died from tuberculosis (TB), and around 10 million of the global population suffered by TB, including 5.7 million men, 3.2 million women and 1.1 million children. The demand for medical waste management market gained a rapid pace owing to the outbreak of SARS-CoV-2 virus (COVID-19). With the high transmission rate of the COVID-19, the need for appropriate waste management becomes vital. Thus, the prevalence of infectious diseases is expected to drive the market growth.
Market Restraint:
- High Set Up Cost
Appropriate disposal of the healthcare waste requires specialized set up which can disinfect and then dispose of the hazardous waste. It includes incinerators equipped with automatic loading and de-ashing system. Construction of the medical waste incineration plant includes the cost of the land, site preparation, architectural and legal fees. The cost further adds expenditure related to waste storage room, incinerator building, water collation trucks, storage charges and another equipment cost. Due to hidden cost and the relatively high price of the incinerators, the overall set up cost of the medical waste management rises. Abovfementioned factors are projected to hamper medical waste management market growth up to a certain extent .
MEDICAL WASTE MANAGEMENT market: Key segments
- Segmentation based on form of waste: Hazardous and Non-Hazardous
- Segmentation based on waste source: Medical Institutes, Dental Clinics, Veterinary Clinics, Nursing Home, and Others
- Segmentation based on service: Collection and Segregation, Storage and Transportation and Treatment and Disposal
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
MEDICAL WASTE MANAGEMENT MARKET: Report SCOPE
The report on the Medical Waste Management market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2018–2027Base Year for Market Calculation2019Forecasted Period2020–2027 (2020 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million)Segments IncludedService, Form of Waste, Waste Source, nd RegionRegional CoverageNorth America, Asia-Pacific, Europe, Middle East & Africa, South America
KEY Companies Covered
- Stericycle (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Veolia
- BWS Incorporated
- MEDPRO Disposal, LLC
- CNIM Group
- Waste Management Inc.
- Daniels Health
- REMONDIS SE & Co. KG
- BioMedical Waste Solutions, LLC
- Clean Harbors Inc.
- Republic Services, Inc.
- BioServ, Inc.
- EcoMed
- Sharps Compliance, Inc.
- GRP & Associates, Inc.
- Gamma Waste Services
- Other Key Companies
MEDICAL WASTE MANAGEMENT MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Medical Waste Management Market, by Service
- Collection and Segregation
- Storage and Transportation
- Treatment and Disposal
Medical Waste Management Market, by Form of Waste
- Hazardous
- Pathological Waste
- Pharmaceutical Waste
- Genotoxic Waste
- Radioactive Waste
- Non-Hazardous
Medical Waste Management Market, by Waste Source
- Medical Institutes
- Dental Clinics
- Veterinary Clinics
- Nursing Home
- Others
Medical Waste Management Market, by Region
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Belgium
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Peru
- Chile
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Report Audience
- Medical Waste Management Market Providers
- Medical Waste Management Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of MEDICAL WASTE MANAGEMENT Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MEDICAL WASTE MANAGEMENT MARKET STUDY
