Medical Waste Management Market
Medical Waste
Management
Market To Reach
USD 17.89
Billion by 2026
Markett Summary
Rise in elderly population, development of advanced manufacturing techniques for medical &
drugs equipment, increasing initiative by government towards developing the healthcare
infrastructure across the world, favorable research funding scenario, increase in health care
expenditure, and rise in awareness regarding medical waste are key factors contributing to high
CAGR of Medical Waste Management during forecast period.
Market Size – USD 11.77 Billion in 2018, Market Growth - CAGR of 5.3%, Market Trends –
Outsourcing of medical waste management services and growing health care industry
According to the current analysis of Reports and Data, the global
Medical waste management market was valued at USD 11.77 billion in 2018 and is expected to
reach USD 17.89 billion by the year 2026, at a CAGR of 5.3%. The study talks about the growing
population across the globe, which in turn increases the number of patients, resulting in the rising
volume of medical waste. Hence there is a requirement of proper management of the medical
waste that is generated at an ever-growing rate. Medical waste is a type that contains infectious
materials that are toxic and can cause multiple types of diseases. This medical waste is generated
by health care facilities like physician’s offices, hospitals, dental practices, clinics, and research
facilities. Medical waste can contain things like blood, bodily fluids, and other contaminants.
Medical waste management refers to the proper processing of the waste material generated by the
various health care institutions. The emergence of medical waste management has led to the
prevention of the release of toxic compounds into water and land. Medical waste management is
done by treating waste material by adopting an environment-friendly treatment procedure. It also
involves developing various methodologies that are environment-friendly.
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Further key findings from the report suggest
• Across the world, out of the total amount of waste generated by health-care activities,
about 85% is general waste and remaining 15% is considered hazardous material that may
be infectious, toxic or radioactive.
• Infectious and anatomic wastes together represent the majority of the hazardous waste, up
to 15% of the total waste from health-care activities. Sharps represent about 1% , Chemicals
and pharmaceuticals account for about 3% of waste from health-care activities while gene
toxic waste, radioactive matter and heavy metal content account for around 1% of the total
health-care waste
• According to a research article in Indian Journal of Pharmacy Practice, drug wastage
accounted for 2.0% to 3.0% of all drug costs, representing more than USD 1.0 Billion in drug
wastage in the U.S.
• According to American Hospital Association in 2015 on waste prevention and management
in hospitals, nearly 5,000 acute care hospitals in the U.S. generate around 7,000 tons of
waste every day and spend USD 10 billion annually on its disposal, hence there is a rapid
growth in demand of medical waste management.
Markett Summary
Key Players:
Biomedical Waste solutions, Clean Harbors, Daniels Sharpsmart Inc., Stericycle, Waste Management
Inc., Remondis Group
Segmentation:
For the purpose of this report, Reports and Data has segmented the Medical Waste Management market on the basis of
waste type, treatment site, treatment type, service type, nature of waste, waste generator and region:
Waste Type (Revenue, USD Million; 2018–2026)
• Sharps
• Pathological Waste
• Pharmaceuticals Waste
• Chemical Waste
• Infectious Waste
• Gene Toxic Waste
• Others
Treatment Site (Revenue, USD Million; 2018–2026)
• On-site
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Markett Summary
Treatment Type (Revenue, USD Million; 2018–2026)
• Chemical Treatment
• Incineration
• Autoclaving
• Others
Service Type (Revenue, USD Million; 2018–2026)
• Recycling
• Treatment and Disposal
• Collection, Transportation and Storage
Nature of Waste (Revenue, USD Million; 2018–2026)
• Hazardous
• Non-Hazardous
Regional Outlook (Revenue in USD Million; 2018–2026)
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
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The reportt emphasiizes tthe ffollllowiing key questtiions::
Q.1.What are the most lucrative and promising growth prospects for the market?
Q.2.Which sectors are expected to deliver a high growth rate and which industry aspects
come into play in this advancement?
Q.3.Which geographies are estimated to exhibit the highest growth and the underlying
causes?
Q.4.Which factors are impacting the future of the market and what are the driving
factors?
Q.5.What are the hurdles and challenges curtailing the industry’s growth in the forecast
period?
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