According to a new market report published by
Transparency Market Research "Medical Waste Management Market (Activity
Type - Collection, Processing and Disposal; Waste Generators - Large Quantity
Generators and Small Quantity Generators): Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2013 - 2019," the global medical waste
management market was valued at USD 14.5 billion in 2012 and is expected to
grow at a CAGR of 4.8% from 2013 to 2019, to reach an estimated value of USD
20.1 billion by 2019.
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Waste Management Market
Report with Full TOC at http://www.transparencymarketresearch.com/medical-waste-management-market.html
Medical waste refers to the waste generated by
various healthcare settings such as hospitals, nursing homes, physician
offices, diagnostic laboratories, veterinary offices and pharmaceutical companies.
Almost 75% to 80% of all waste generated by these sources is similar to general
household and office waste, and consists of paper, plastic and other general
materials. The remaining 20% to 25% of waste which is considered potentially
harmful to humans as well as the environment needs to be properly disposed. It
includes human or animal tissue, blood-soaked cotton or bandages, discarded
scalpels and blades, surgical gloves, used needles, syringes, cultures, stocks,
chemicals, and unused and expired pharmaceuticals. Poor handling and disposal
of these wastes may expose healthcare professionals, patients, waste handlers
and other people to infection and injuries.
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In order to ensure safety from hazardous and
infectious medical waste, governments of various countries have begun
regulating its proper handling and disposal. For example, in the United States,
medical waste is regulated by Environmental Protection Agency under the
Resource Conservation and Recovery Act (RCRA), and by the European Commission
in Europe. On violating regulations related to medical waste management,
healthcare facilities are fined by the respective regulatory authorities. Such
regulations compel hospitals and other healthcare settings to effectively
manage medical waste generated by them and thereby, act as a growth driver for
the medical waste management market.
Incineration has been the primary mode of treating
medical waste across the globe since several decades; however, over the past
few years, a steady decline has been observed in the number of incinerators
being used, especially in countries like United States, Japan, Germany, France
and the United Kingdom. Technological developments such as the advent of
non-incinerating machines have been identified as another major factor driving
growth of the medical waste management market. Non-incinerating technologies
include thermal processes (autoclave), chemical processes, irradiative
processes and mechanical processes.
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Devices Market Research Reports@
The market for medical waste management is also
experiencing growth worldwide owing to aging of population and overall growth
in healthcare industry. As people age, they require increased medical attention
and thus, contribute to the increasing amount of medical waste being generated
in the treatment process. Globally, the healthcare industry is expanding at a
steady rate and is characterized by rise in number of hospitals, out-patient
offices, testing laboratories, dental offices, veterinary centers and
pharmaceutical manufacturers. Continuous rise in the number of these healthcare
facilities has eventually resulted into rise in amount of medical waste generated,
and thus, has triggered market growth. On the other hand, factors such as high
capital investment and regulations aimed at service providers may hamper market
growth to some extent as they render the entry barrier at high level and thus,
prevent new players from entering the market.
The medical waste management market has been
segmented into collection, processing and disposal market segments, based on
activity type. In 2012, collection accounted for the largest share of the
overall medical waste management market revenue, followed by disposal and
processing segments. Processing segment has been anticipated to grow at a
fastest CAGR during the forecast period 2013 to 2109 due to technological
developments leading to non-incinerating technologies. On the other hand, based
on quantity of medical waste generated, the market has been segmented into
large quantity generators (LQGs) and small quantity generators (SQGs). LQGs
accounted for the larger share of the total market revenuein 2012; however during
the forecast period, SQGs are expected to record the higher market growth.
In developed nations like United States, Canada,
Germany, France, U.K., Italy and Spain, the market is growing owing to strict
governmental regulations. However, in the developing nations of Asia-Pacific
and Rest of the World, emerging economy coupled with rise in awareness level
regarding the medical waste management will play a key role in driving market
growth. The competitive landscape of medical waste management market consists
of a large number of small players along with very few companies with
international reach. Stericycle, Inc. was the largest stake holder in 2012 with
a revenue share of more than 13% of the global market.
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