Medical Waste Management Market:
Executive Summary
Global medical waste management market is valued at approximately USD19,690 million in 2017 and is anticipated to grow with a healthy growth rate of more than 5.4 % over the forecast period 2018-2025. Growing focus on eco-friendly waste management procedures is the major key trend that is responsible for the wide adoption of medical waste management globally. Global medical waste management market is significantly driven by the growth in healthcare industry. According to the Indian Brand Equity Foundation (IBEF) in December, healthcare has become one of the largest sectors in India both in terms of revenue and employment. The healthcare industry is expected to reach around $133.44 billion by 2022. Also, India is experiencing a growth of 22-25 % in medical tourism and would reach from $3 billion to $6 billion by 2018. In addition, there is significant scope for enhancing healthcare services due to the increasing healthcare spending as a percentage of GDP. As per the Wirein Organization, India Government healthcare expenditure increased to 1.4% in 2018 which was earlier 1.2% in 2014. Similarly, as per the James Lind Institute, the healthcare system in United States accounts for $3 trillion yearly expenditures, that is around 20% of United States’ GDP. According to the Offices of the Actuary at the Centers for Medicare and Medicaid Services, investment is anticipated to increase at a yearly rate of 5.9% through 2020, that is 1.2% greater than the US expected GDP development. Therefore, the growth in healthcare industry would generate high amount of medical waste. As a result, the demand for medical; waste management would increase, promoting the growth of the market. However, lack of awareness about health hazards is the major factor that impede the growth of the medical waste management market over the forecast period.
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The leading market players mainly include-
Stericycle
SUEZ
Clean Harbors, Inc.
Veolia
Biomedical Waste Solutions, LLC.
Remondis Se & Co. Kg
Sharps Compliance, Inc.
Waste Management, Inc.
Daniels Sharpsmart
On the basis of segmentation, the medical waste management market is segmented into type of waste, service type, treatment type, treatment site, category and source of generation. Based on type of waste, the global medical waste management market is classified into hazardous waste and non-hazardous waste of which non-hazardous segment dominates the market. The service type segment includes collection, transportation, & storage, treatment & disposal and recycling. On the basis of treatment type segment, the market is diversified into incineration, autoclaving, chemical treatment, irradiative and biological. The category segment includes controlled and uncontrolled. Based on source of generation segment, the global medical waste management market is bifurcated into Hospital, Physician offices, Clinical laboratories, Reverse distributors and Manufacturers.
The regional analysis of medical waste management market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global medical waste management market. The major reasons for the dominance of North America are presence of well-established healthcare facilities, rising prevalence of chronic and infectious diseases that need advanced medical and surgical aids. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to establishment of stringent regulations for the disposal of medical residues and growing social awareness.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By type of waste
Hazardous waste
Non-hazardous waste
By Service Type
Collection, transportation, & storage
Treatment & disposal
Recycling
By Treatment type:
Incineration
Autoclaving
Chemical treatment
Irradiative
Biological
By Treatment Site:
On-site
Off-site
By Category:
Controlled
Uncontrolled
By Source of generation:
Hospital
Physician offices
Clinical laboratories
Reverse distributors
Manufacturers
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Medical Waste Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Table of Contents
Chapter 1. Market Definition and Scope
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Global Medical Waste management market Dynamics
Chapter 5. Global Medical Waste management market, By type of waste
Chapter 6. Global Medical Waste Management Market, By Service Type
Chapter 7. Global Medical Waste Management Market, By Treatment type
Chapter 8. Global Medical Waste Management Market, By Treatment Site
Chapter 9. Global Medical Waste Management Market, By Category
Chapter 10. Global Medical Waste Management Market, By Source of generation
Chapter 11. Global Medical Waste Management Market, by Regional Analysis
Chapter 12. Competitive Intelligence
12.1. Company Market Share (Subject to Data Availability)
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. Stericycle
12.3.1.1. Overview
12.3.1.2. Financial (Subject to data availability)
12.3.1.3. Product summary
12.3.1.4. Recent developments
12.3.2. SUEZ
12.3.3. Clean Harbors, Inc.
12.3.4. Veolia
12.3.5. Biomedical Waste Solutions, Llc.
12.3.6. Remondis Se & Co. Kg
12.3.7. Sharps Compliance, Inc.
12.3.8. Waste Management, Inc.
12.3.9. Daniels Sharpsmart
Continuous…
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