San Francisco, 3 December 2018: According to a report
by Grand View Research, Inc., global medical waste management market is anticipated to value USD 33.4 billion by
2025. Growing requirement for disposal of infectious material getting generated
from hospitals and diagnostic centers can augment medical waste management.
Growing cases of chronic
disorders and diseases such as cancer are anticipated to propel growth of
market. Increasing number of geriatric population and road accidents are likely
to surge demand for advanced medical solutions. Commercial availability of
advanced medical solutions is expected to generate large amount of medical
waste and byproducts. This, in turn, can stimulate market growth in next few
years. Efficient supply of inventories required in day-to-day functioning of
clinics, hospitals, and diagnostic centers is expected to generate huge waste.
These byproducts and residues are likely to require proper system or service
for collection, recycling, and disposal of specific materials or byproducts, if
required. Favorable initiatives from governments across various nations to
support and raise funds in effective waste management can drive market growth.
These programs are expected to be conducted for creating awareness regarding
importance of systems for appropriate disposal of waste. Growth of healthcare
and medical sector globally owing to continuous R&D resulting in advanced
surgical, diagnostic, and treatment solutions can fuel market growth. In
addition, proper guidelines and set standards for same are likely to fuel
growth of market during the forecast period (2014 to 2025).
Access
Research Report of Medical
Waste Management Market @ www.grandviewresearch.com/industry-analysis/medical-waste-management-market
The medical waste management
market can be segregated on the basis of services, treatment, and region. Based
on services, the market can be categorized into onsite and offsite. In 2016,
onsite segment dominated the market and accounted for largest market share. It
is predicted to grow at similar pace over the forecast period owing to
increasing adoption of onsite disposal and treatment. Most companies are likely
to setup their own onsite treatment, disposal systems, and recycling units.
This, in turn can augment growth of market during the forecast period. This
segment is likely to include treatment, recycling, collection, and others sub
segments. In 2015, treatment and disposable of waste segment accounted for
largest market share. However, recycling segment is estimated to grow well over
the forecast period attributed to development of ecofriendly techniques.
Drastic shift in the market
from large players to small scale local players is predicted to restrict growth
of market. Developing countries are likely to invest huge capital for adoption
of advanced technologies to curb pollution and other hazardous effects on
ecosystem during disposal and treatment. However, these countries are expected
to lack clear & stringent regulations for management of medical waste,
thereby hindering market growth.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/medical-devices
Based on treatment, the market
can be classified into autoclaving, chemical treatment, incineration, and
others. Incineration segment is expected to hold largest market share as it is
easy and old method of disposal. However, incineration can lead to emission of
harmful gases and compounds that can result in water, air, and land pollution.
Hence, treatments including chemical processing and other nonincineration
methods can replace incineration in near future.
Regional segmentation includes
Europe, North America, Asia Pacific, Latin America, and Middle East &
Africa (MEA). In 2016, North America dominated the market and accounted for 32%
market share. Continual development of healthcare infrastructure can fuel
growth of market in the region. In addition, growing prevalence of infectious
and chronic diseases that require medical & surgical aids generating large
number of byproducts and residues can fuel market growth.
In Asia Pacific, the market is
expected to witness highest growth over the forecast period attributed to
rising social awareness and strict regulations for propel disposal of residues
and byproducts. In addition, rising adoption of recycling processes and
ecofriendly disposal can augment market growth in the region.
Some of the leading companies offering medical waste
management are Sharp Compliance, Inc.; Republic Services, Inc.; Stericycle,
Inc.; Suez Environnement; and Veolia. Most
companies are likely to hold strong position in market owing to brand equity
and their commercial availability across the globe. In addition, these
companies can also adopt various business strategies to remain competent in the
market.
Access Press Release of
Medical Waste Management Market@ www.grandviewresearch.com/press-release/global-medical-waste-management-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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