Medical Waste Management Market Driven by Rising Prevalence of Infectious

Posted by Susan Hill on July 30th, 2019

The waste generated from medical devices manufacturing, expired medicines and other hospitals-clinics materials is categorized into different segments. The infectious material including human or animal tissues, blood soaked bandages, cotton, discarded blades, scalpels, surgical gloves, cultures, stocks, other substances may spread infection, if not handled with care. The non-infectious material includes paper, plastics and other general material; pharmaceutical waste such as returned, damaged medicines; and radioactive by-products generated from diagnostic and imaging tests.

Growing prevalence of infectious and chronic diseases requires various solutions such as diagnostic tests, biopsy, blood testing and other medical and surgical aids. The increasing usage of such systems resulting into generation of large amount of wastes and by-products are propelling the market growth. Supportive government initiative in funding medical waste management programs in developing countries is triggering the market growth. All these factors are anticipated to spur the market growth.

The global medical waste management market is expected to reach USD 33.4 billion by 2025, according to a new report by Grand View Research, Inc. The development of innovative manufacturing techniques in pharmaceuticals, medical devices is growing with rapid pace. The rise in hospitals, multispecialty clinics and diagnostic centers that require large number of inventories for day to day functioning is also leading to generation of more waste. Thus, overall growth in healthcare industry coupled with rising patient population requiring prolong medical and surgical aid is fueling the market growth.

Rapid growth in initiatives by government to support and raise funds in effective waste management is anticipated to drive the market growth. These programs are conducted for creating awareness regarding the importance of systems for proper waste disposal. Additionally, taking steps to set standards and guidelines for the same is anticipated to propel the market growth.  

The medical waste management involves high capital investment for managing hazardous by-products and disposal of infectious material. This disposal and recycling processes are associated with release of hazardous gases and compounds which may disturb the ecosystem and are likely to affect the industry growth.