(PharmaNewsWire.Com, December 04, 2017 ) Market Outline: Medical Waste Management Market
Medical waste is potentially infectious, generated at health care facilities such as clinics, hospitals, veterinary hospitals and medical research facilities and laboratories. Improper management of waste may cause serious health hazards. Medical waste can be divided into infectious waste, pathological waste, sharps (syringes, needles.), chemicals, pharmaceuticals, genotoxic waste, radioactive waste and non-hazardous or general waste.
Market Dynamics: Medical Waste Management Market
Global medical waste management market is driven by awareness about complications related to inappropriate medical waste management and growth in healthcare industry. Furthermore, government regulations such as Medical Waste Tracking Act 1988, emergence of advanced waste disposal techniques and rising number of R&D activities and healthcare activities which produce more waste are expected to boost the global medical waste management market. However, lack of awareness and training in the proper medical waste management is expected hamper the market growth during the forecast period.
Global medical waste management market is expected to grow at notable rates owing to various initiatives taken by non-government and government agencies in creating awareness and promoting the effective medical waste management. For instance, U.S., UK, India and others has framed regulations and rules for management of medical waste. Companies are adopting various strategies such as developing innovative management techniques and collaborating to increase the market share. For instance, in August 2011, WM Healthcare Solutions, Inc. (Waste Management, Inc.) collaborated with DaVita Inc. and BD (Becton, Dickinson and Company) to launch dialyzer recycling pilot in 106 DaVita dialysis in Southern California.
Geographically, global medical waste management market is segmented into following regions, viz. North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe. North America is expected to account for major growth in global medical waste management market owing to factors such as presence of well established healthcare infrastructure, rising awareness and growing number of diseases led to R&D that produces the more chemical and healthcare wastes. Asia Pacific is expected to show rapid growth owing to rising awareness and establishment of stringent regulations by the government on medical waste management.
Competition Assessment: Medical Waste Management Market
Some of the players in global medical waste management are Waste Management, Inc. (U.S.), Stericycle, Inc. (U.S.), BioMedical Waste Solutions, LLC (U.S.), Republic Services, Inc. (U.S.), Remondis Medison GmbH (Germany), 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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