The environmental pollution issues due to the medical wastes are leading to an imperative implementation of proper medical waste management in various institutes such as hospitals, nursing homes, and clinics. This is driving the medical waste management market which is poised to attain a lucrative market size of $16.28 billion by the end of 2023 as the demand is going to observe a healthy compound annual growth rate (CAGR) of 5.3% during the forecast period of 2018 to 2023, according to a recently compiled market research report by IndustryARC’s analyst.

 

The medical waste management market intelligence report is comprised of a myriad of facts, figures, and statistics pertaining to market dynamics and factors affecting the revenues of existing players along with the scope for new vendors to emerge in the market. Further, the report also contains an in-depth analysis of current trends, opportunities, and challenges that will cause disruption in the market during the forecast period. The report is titled, “Medical Waste Management Market: By Waste Type (Sharps, Chemical Waste, and Others); By Treatment Technology (Non- Incineration System, Incineration System); By Service (Disposal, Recycling, and Other Processing, Collection, Transportation, & Storage); By Treatment Site (Offsite, Onsite); By Nature of Waste (Non-Hazardous, Hazardous); By Waste Generator (Hospitals, Retail Pharmacy, and Others); & By Geography - Forecast (2018-2023).”

 

Medical Waste Management Market: Leading Segments

 

According to the geographical analysis by the analyst, North America had the maximum medical waste management market share of 35.90% in 2017 followed by Europe. This is attributed to the existing best-in-class infrastructure in those regions along with the stringent government rules that are making it necessary for the healthcare institutes and clinics to have medical waste management facility. Moreover, the hospitals generated as much as 5 million tons of waste yearly in North America which further drives the medical waste management market.

 

The market is segmented on the basis of implementation of medical waste management facilities in hospitals and pharmaceuticals. Furthermore, it is also segmented based on services that include disposal, recycling, and other processes. The recycling and other processes will witness a growth in the future with global revenues that will translate to $8,276 million by 2023. This is owing to the fact that recycling and reprocessing keeps medical waste from filling community landfills and saves money for hospitals and other healthcare institutes.

 

Medical Waste Management Market: Disruptive Trends and Growth Drivers

 

Government Regulations Pertaining to Medical Wastes –

Governments worldwide are regulating the waste generated from healthcare institutes in order to instill safety as some of these wastes are hazardous. Furthermore, the regulatory organizations are imposing taxes on the organization that fail to suffice the requirements regarding the management of medical wastes. These regulations are making healthcare facilities instill medical waste management systems, which is leading to growth prospects in the market.

 

Non-Incineration Technologies Disrupting the Medical Waste Management Market –

There is a discernible demand for non-incineration technologies in the healthcare sector. These technologies are eco-friendly and cost-effective, and the conventional methodology releases a lot of toxins in the form of wastes which can be harmful to the environment and humans alike. The subsequent decline in the incineration technology is paving path for non-incineration technologies that are disrupting the medical waste management market.

 

The Growth of the Healthcare Industry With More Facilities –

The last decade has witnessed a definite demand for medical facilities. Furthermore, the rapidly catapulting geriatric population is aiding to this already growing demand. This is leading a sudden surge in the incorporation of healthcare facilities worldwide, which is creating a sustainable medical waste management marketplace.

 

Medical Waste Management Market: Competitive Landscape

 

Some of the key companies identified in the medical waste management market intelligence report that are striving to stay ahead of the curve are Stericycle, Sharp Compliance, Inc., Suez Environment, Daniels Sharpsmart, Inc., Clean Harbors, Inc., Veoilia Environment, Republic Services, Advanced Disposal Services Inc., Trinova Medical Waste Solutions, LLC, Medasend Biomedical, Inc., United Medical Waste Management, and GRP & Associates.

 

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Related Reports:

a) Water Treatment Additives Market
https://www.industryarc.com/Report/6354/Water-Treatment-Additives-Market-Research-Report.html

 

b) Plastic Waste Management Market
https://www.industryarc.com/Report/15174/plastic-waste-management-market.html

 

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The new report, ‘Waste Management Market in India', states that increasing urbanization has resulted in considerable increase in the volume of waste generated in India. Due to increasing urbanization an increasing fraction of individuals enter cities leading to high levels of waste creation. Corporate and government initiatives have boosted the market forward. Consciousness among corporate houses is increasing which has led them to take various initiatives for the safe disposal of wastes. Additionally, the government and NGOs are creating awareness regarding the nuances of ineffective waste management. Municipalities and corporate are becoming more aware of their responsibilities and they are taking effective steps from their end. Furthermore, government organizations are tying up with various waste management companies which are in a position to offer good services. The government is also spreading the need for safe disposal of wastes. 

 

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However, the industry has also some pain points. Poor infrastructure deters the development of the market. Lack of segregation and collection at source causes various types of wastes to be treated in the same way or they are simply not treated. Consumers often neglect e-waste mandates due to lack of interest and complex procedure of waste submission. One of the major trends identified are that metros and other bigger cities contribute heavily to the amount of waste generated. PE investors have taken increased interest in waste management companies. It has been seen that waste to energy power plants are becoming an area of focus for the government and private players alike. 

 

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Kenneth' latest market research report titled E-Waste Market in India 2014 describes the dynamics of e-waste recycling in India. E-waste is generated when electronic products reach the end of their lifecycle or utility to the consumer, and needs to be properly recycled to minimize environmental risks. Televisions, personal computers and refrigerators are the largest contributors to e-waste generation in India. Large volume of e-waste in India gets recycled by the informal sector, which is often ill-equipped to handle the hazardous elements such as lead, mercury and others. Request For Free Sample: https://www.kennethresearch.com/sample-request-10084083 Demand for e-waste management in India is driven by a sharp rise in electronic gadgets consumption, rapid technology obsolescence and increased awareness regarding safe and responsible disposal of e-waste. However, e-waste companies in India find it difficult to negotiate ‘reserve price' or minimum price for collection of e-waste from corporate organizations, as well as prevent disposal of such waste to scrap collectors at a lower price. Thus, government intervention is required to enforce strict policies regarding disposal of e-waste, and to form more tie-ups with international organizations for their expertise and technical acumen. Request For Customization: https://www.kennethresearch.com/customization-request-10084083 About Us: Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation Contact Us Name: David Email : Sales@kennethresearch.com Phone: +1 313 462 0609