Medical Waste Management Market Trends, Growth, and Forecast to 2025
Posted by Shristi on September 27th, 2019
“The Global Medical Waste Management Market was valued around US$ 13.4 Bn by 2018 and growing at a significant CAGR of 8.1% over next seven years 2019-2025 owing to rapid growth in aging population”
The global Medical Waste Management market accounted for US$ 13.4 Bn in 2018 and burgeoning over the forthcoming years. Some of the key factors propelling the market growth are rising number of awareness programs regarding waste management, initiatives taken by various governments for management of medical waste, rapid growth in aging population. However, factors such as huge capital investments, lack of awareness regarding health hazards associated with medical waste among the people are hampering the market growth. In addition, huge demand for innovative technologies is expected to be one of the major trend during the forecast period.
Global Medical Waste Management market segmented on the basis of services, treatment, type of waste, and region.
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Based on treatment, global Medical Waste Management market segmented into incineration, autoclaving, chemical treatment and others. Autoclaving segment held considerable market growth during estimated period. Autoclaves are closed chambers that apply heat and sometimes pressure and steam, over a period of time to sterilize medical equipment. Autoclaves have been used for a century to sterilize medical instruments for re-use. Surgical knives and clamps, for instance, are put in autoclaves for sterilization. Modern medical waste management systems incorporate autoclaves for processing of waste cultures, sharps, gauzes, bandages, and more. Sometime surgery waste and plastic and metal waste contaminated with blood or other bodily fluids are put into autoclaves. For example, Tuttnauer's is leading in infection control introduced medical waste autoclaves for small, medium and large hospitals which enables medical waste treatment close to its source using a safe and cost-effective method completely free from harmful emissions.
North America Leads the Global Medical Waste Management market
PBI’s global Medical Waste Management market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. This region is one of the key markets for Medical Waste Management. The region has witnessed considerable growth in this market owing to the presence of highly developed healthcare sectors, increasing incidences of infectious and chronic diseases, growing aging population which are further driving the demand for medical waste management market growth in North America region.
Strategic Acquisition are the Key Strategies Adopted by Market Players
Global Medical Waste Management market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in 2014, Curtis Bay Medical Waste Services acquired the assets of Culver Enterprises. The acquisition of Culver Enterprises expands Curtis Bay's geographic service footprint. Curtis Bay continues to grow its business by providing healthcare professionals with comprehensive medical waste solutions, including collection, transfer, transportation, recycling, waste reduction, sharps management, consulting, and sustainable medical waste processing services.
Key player’s profiles in the report are Remondis Medison GmbH (Germany), Stericycle, Inc. (U.S.), BioMedical Waste Solutions, LLC (U.S.), Republic Services, Inc. (U.S.), Waste Management, Inc. (U.S.), Suez Environnement S.A. (France), Clean Harbors, Inc. (U.S.), Veolia Environnement S.A. (France), Curtis Bay Medical Waste Services (U.S.), and Tox Free Solutions Ltd. (Australia).
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By Type of Waste
Middle East and Africa (MEA)
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About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
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