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The Medical Waste tracking Act of 1988 defines medical waste as “any solid waste that is generated in the diagnosis, treatment, or immunization of human beings or animals, in research pertaining thereto, or in the production or testing of biologicals.” As indicated by WHO, annually an estimated 16 billion injections are administered worldwide. Improper management of these waste can pose a health risk to the public and waste workers. For instance, discarded needles may expose waste workers to potential needle stick injuries and potential infection when containers break open inside garbage trucks or needles are mistakenly sent to recycling facilities.
Medical Waste Management Market Outlook
The global Medical Waste Management Market is growing at a robust pace globally owing principally to the increasing volume of healthcare waste, growing healthcare industry, and the growing geriatric and obese populations. The average age of the population rising globally. As people age, they usually need more medical care and a broader variety of tests, procedures and medications, leading to an surge in the amount of regulated medical waste, hazardous waste, and pharmaceutical waste. Thus leading to the growth of the market.
On the other hand low awareness in developing countries and lack of skilled professionals for proper disposal may hinder the growth of the global medical waste management market.
The report analyses the global a Medical Waste Management market based on service, type of waste, waste generator, treatment site and geography.
Various services offered by the companies for the medical waste management include collection, transportation, and storage services, treatment & disposal services and and recycling services etc. These services serve the purpose of prevention a biological risk from being introduced to the environment or community. Recycling services is likely to observe the significant growth in the market as the majority of the companies working towards developing eco-friendly solutions that includes recycling of medical wastes.
There are two categories of waste including hazardous and non-hazardous. Hazardous type of waste include infectious & pathological waste, pharmaceutical waste, sharp waste etc. Most of the medical waste fall under non-hazardous category and as harmless as any other municipal waste. Whereas, small portion of the waste is hazardous and can be injurious to humans or animals and deleterious to environment. Both waste type are identified, sterilized and recycled appropriately to minimize exposure and risk to the environment and general population.
There are two types of two type’s treatment site accessible for medical waste management including on-site and off-site. The on-site treatment of medical waste is generally limited to large, well-monied hospitals and facilities. Whereas, Off-site medical waste treatment is a far more cost-effective option for most small and mid-sized medical practices and facilities.
By waste generator, the global medical waste management market is classified into hospitals & diagnostic laboratories and other waste generators.
The global Medical Waste Management Market is analysed across key regions such as, North America, Europe, Asia Pacific, and Rest of the world.
North America was valued to have the largest market share and is expected to grow in coming years. It is followed by Europe which is expected to grow steadily over the forecasted period.
The dominance of the North America is attributed to growing aging population presence of the highly developed healthcare sector, along with the increasing prevalence of infectious and chronic diseases, which necessitate advanced medical and surgical aids, and the treatment for these diseases also generates a enormous number of by-products and residues.
The key competitors of this market include Biomedical Waste Solutions, LLC, Clean Harbors, Inc., Daniels Sharpsmart Inc., Stericycle, Inc., Waste Management, Inc., Veolia Environnement S.A., Suez Environnement S.A., Sharps Compliance, Inc., Remondis Se & Co. Kg, BWS Incorporated, Medpro Disposal, GIC Medical Disposal, Gamma Waste Services, Republic Services, Inc, Ecomed Services & GRP & Associates, Inc. among others.
Global Medical Waste Management Market is analyzed on the basis of Service, Type of Waste, Treatment Site, Waste Generator and Geography. Various services offered for the medical waste management include Collection, Transportation & Storage Services, Treatment & Disposal Services and Recycling Services. Treatment & Disposal Services includes Incineration, Autoclaving, Chemical Treatment etc. These waste management services are used for various Waste Types including Non-hazardous Waste, Hazardous Waste, Infectious & Pathological Waste, Pharmaceutical Waste, Sharp Waste etc. Treatment Site for medical waste management are presented as Offsite Treatment & Onsite Treatment. And By Waste Generator, the market is categories are Hospitals & Diagnostic Laboratories, Other Waste Generators. The Global Medical Waste Management Market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include Biomedical Waste Solutions, LLC, Clean Harbors, Inc., Daniels Sharpsmart Inc., Stericycle, Inc., Waste Management, Inc., Veolia Environnement S.A., Suez Environnement S.A., Sharps Compliance, Inc., Remondis Se & Co. Kg, BWS Incorporated, Medpro Disposal, GIC Medical Disposal, Gamma Waste Services, Republic Services, Inc, Ecomed Services & GRP & Associates, Inc. among others.
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