San Francisco,11
October 2018: 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.
Access Research Report
of Medical Waste
Management Market @ www.grandviewresearch.com/industry-analysis/medical-waste-management-market
Further key findings from the study suggest:
· The growing prevalence of infectious and
chronic diseases coupled with overall growth of healthcare industry is
augmenting the market growth
· Most of the waste disposal treatments are
performed offsite, however, to save cost and holding time, onsite treatment
sites are expected to grow over the forecast period
· The incineration segment accounted for the
largest revenue share in 2016 however, other sophisticated non-incineration
processes that are ecofriendly are projected to replace traditional
incinerators
· In 2016, North America dominated the global
space with the largest revenue share of over 32.0% owing to growing healthcare
industry and development of innovative techniques for disposal of material
· Asia Pacific is expected to emerge as the
fastest growing region during the forecast period, mainly due to growing social
awareness regarding effective disposal and recycling.
· Major players competing in the industry
include but are not limited to Remondis Medison GmbH; Republic Services, Inc.;
Sharp Compliance, Inc.; Stericycle, Inc.; Suez Environment, Inc.; Veolia
Environment S.A.; Waste Management, Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the medical waste management market by services, treatment and
region:
Medical Waste Management Services Outlook (Revenue, USD
Million; 2014-2025)
·
Onsite
·
Offsite
Medical Waste Management Treatment Outlook (Revenue, USD
Million; 2014-2025)
·
Incineration
·
Autoclaving
·
Chemical treatment
·
Others
Regional Outlook (Revenue, USD Million; 2014-2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
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.