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Strict Implementation of various Regional Regulations provides Sustained Impetus to Medical Waste Management Market Growth

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Published on : Apr 23, 2018

ALBANY, New York, Apr 23, 2018: ResearchMoz.us has announced the addition of a report, titled “Medical Waste Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025” to its offering. The report on the global medical waste management market offers comprehensive insights into various growth dynamics, key trends, share and size of prominent segments, major technological advancements, and the prevailing competitive landscape in various regions.

The global medical waste management market is projected to garner above 5.0% CAGR in between the assessment period from 2017 to 2025. The global rise in generation of medical waste, coupled with regulations by various regional agencies on their treatment and disposal, is the key factor propelling the demand for medical waste management. The concerted efforts by governments in various parts of the world to promote stricter implementation of medical waste regulations is accentuated the demand for on-site and off-site services for their management.  

The wide varieties of medical waste that needs to be managed are infectious and pathological waste, sharps, radioactive waste, non-infectious waste, and pharmaceutical waste. Of these, the non-infectious category held the sway in 2017 on account for its whopping share in the total medical waste. The infectious and pathological waste segment is also gaining widespread attention among players and is expected to expand at a rapid pace over the assessment period.

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Regionally, North America presently holds the dominant share in the global market and is expected to retain its lead throughout the forecast period. This can be attributed to the stringent regulations on medical waste in its various economies and a burgeoning waste generated out of the large uptake of biomedical technologies and products.

The proliferation of medical waste in the healthcare industry in developing and developed nations is a notable factor boosting the market. Combined with this, the heightened awareness about the health and ecological hazards of improper treatment, transportation, or disposal of medical waste is catalyzing the demand for medical waste management.

The rapidly rising number of hospitals in emerging economies and the substantially rising demand for medical waste management disposal services by pharmaceutical manufacturers and biotechnology companies are crucial trends accentuating the market’s growth. In recent times, the trend for outsourcing of biomedical waste management services has gathered steam in the market. This helps in better risk management. In addition, the rising adoption of disposal medical devices and instruments is boosting the market.

The prominent players opt for mergers and acquisitions and increasingly bolstering their distribution network to get a firm foothold in the medical waste management market. In addition, they are expanding their service portfolio by introducing new services and aiming at geographical expansion, in a move to gain a competitive over others.

Some of the top players operating in the market include GRP & Associates, Inc., ALBA Services GmbH & Co. KG, BWS Incorporated, Daniels Health, Veolia Environnement S.A, Sharps Compliance, Inc., Republic Services, Inc., Waste Management, Inc., Stericycle, and Clean Harbors, Inc.

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