Global Medical Waste Management Market will cross USD 29,644.80 million by 2025. It was valued at USD 19,690.00 million in 2017. The market is growing at a CAGR of 5.4% in the forecast period 2018 to 2025.
The global medical waste management market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. Stericycle dominated the medical waste management market accounting for a highest market share in 2017, followed by Veolia and SUEZ. Other players in this market include are Clean Harbors Inc, Ltd., BioMedical Waste Solutions, LLC, REMONDIS AG & Co. KG., Sharps Compliance, Inc., Waste Management, Inc., Daniels Sharps mart and Triumvirate Environmental among others.
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Stericycle was instituted in 1989 and headquartered at Lake Forest, U.S. The company is engaged in providing highly specialized solutions to the healthcare, retail, and commercial businesses in the United States and globally. The company is involved in collecting and processing of regulated and specialized waste for disposal services. The company offers enormous services namely medical waste disposal, pharmaceutical waste disposal, hazardous waste management, sustainability solutions, regulated recall & return management communication, logistics, and data management services for expired, withdrawn, or recalled products. The company operates in three different segments namely domestic and Canada regulated waste & compliance services, international regulated waste & compliance services and domestic communication & related services. The company offers services in industries such as maritimes & airlines, veterinarians, dentists, retailers and pharmacies among others.
The company’s operations span across 21 countries including United States, Canada, Ireland, the Netherlands, Spain, and the United Kingdom (U.K.). It provides regulated services in Argentina, Brazil, Chile, Japan, Mexico, Portugal, Republic of Korea and Romania. It has subsidiaries namely- Stericycle International LLC (U.S.), Stericycle Return Inc, (U.S.), Strong Environmental Inc, (U.S.), SRCL Ltd, (U.K.), Cardinal Group Inc. (U.S.) and others.
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SUEZ was established in 2010 and headquartered at Paris, France. The firm specializes in smart and sustainable resource management. It provides water and waste management solutions in order to optimize resource management and strengthen their environmental and economic performances. The company operates in different segments like; water Europe, recycling and recovery, international, WTS and others. The company’s solution and services are widely applicable in food & beverage, chemical & pharmaceutical, construction, power, pulp & paper, site construction & soil decontamination, mining, oil & gas, electronic & electrical products, automotive, transport & aeronautic and others.
SUEZ has a strong geographical presence in Asia-Pacific, Europe, South America and others. some of company’s subsidiaries are SUEZ North America (United States), Lyonnaise (France), Degrémont (France), Agbar (Spain), SAFEGE (France) among others.
Segmentation: Global Medical Waste Management Market
Global Medical Waste Management Market, By Type of Waste (Hazardous Waste, Non-Hazardous Waste), Service Type (Collection, Transportation, & Storage, Treatment & Disposal, Recycling, Others), Treatment Type (Incineration, Autoclaving, Chemical Treatment, Irradiative, Biological, Others), Treatment Site (Offsite, Onsite), Category (Controlled, Uncontrolled), Source of Generation (Hospitals, Physician Offices, Clinical Laboratories, Manufacturers, Reverse Distributors), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Drivers: Global Medical Waste Management Market
The major factors driving the growth of this market are rise in generation of healthcare waste, growing healthcare industry, importance of medical waste management, eco-friendly waste management procedures and growing government initiatives. On the other hand lack of awareness about health hazards and lack of skilled professionals for proper disposal may hinder the global medical waste management market.
RISE IN GENERATION OF HEALTHCARE WASTE
Medical waste management refers to the suitable processing of waste materials produced by the healthcare institutions. The waste generated in the diagnosis, treatment or immunization of human beings or animals, including related research and production or testing of biologicals is termed as healthcare waste. These waste materials are engendered at clinics, bloods banks, and laboratories. With the surge in healthcare industries, there appears a rapid growth in healthcare waste too. Some of the statistics for the same are mentioned below
According to World Health Organization (WHO), among the total amount of waste generated by health-care activities about 85.0% is non-hazardous waste. The remaining 15.0% is considered hazardous material that may be infectious, chemical or radioactive.
According to World Health Organization (WHO), the developed countries generate 0.5 kg of hazardous waste per hospital bed per day and developing countries generate on average 0.2 kg
According to BioMedical Waste Solutions, LLC., 5.9 million tons of medical waste is produced every year in America.
According to Molecular Diversity Preservation International and Multidisciplinary Digital Publishing Institute (MDPI), in 2017, an article published in Sustainability reports showed that healthcare waste generation rates (HCWGR) are generally lower in developing countries than in the developed countries. Though, it is observed that there is rise in production of healthcare waste worldwide
Growing Healthcare Industry
The healthcare industry has become the prime sector in the terms of revenues and employment. This sector comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, and health insurance. According to Health Carousel, in the U.S, the healthcare profession is set to become one of the biggest and fastest-growing sectors. According to the Bureau of Labour Statistics, the fastest employment growth in between 2014-2024 is estimated in healthcare
Indian healthcare sector is growing at a balanced pace due to its improved coverage system, services and growing expenditure by public as well private players. The private and public are the two major components of Indian healthcare delivery system. Medical sector is growing lucratively in India as it is cost competitive when compared to Asian and Western countries
Hospitals are the prime growing segment in the healthcare sector. Moreover, Hospitals are the leading medical waste generating entity. The medical wastes produced in any form have to be managed to lower the risks of spreading or epidemic of diseases. The expansion in hospitals, specialized clinics and diagnostic centers require huge number of inventories for day to day functioning. This might lead to production of more waste. Therefore, overall growth in healthcare industry coupled with rising patient populace requiring prolong medical and surgical help is driving the market to grow.
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Table of Contents:
2 MARKET SEGMENTATION
3 MARKET OVERVIEW
4 EXECUTIVE SUMMARY
5 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY TYPE OF WASTE
6 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY SERVICE TYPE
7 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT TYPE
8 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT SITE
9 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY CATEGORY
10 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY SOURCE OF GENERATION
11 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY GEOGRAPHY
12 GLOBAL MEDICAL WASTE MANAGEMENT MARKET, COMPANY LANDSCAPE
13 COMPANY PROFILES
13.1.1 COMPANY OVERVIEW
13.1.2 REVENUE ANALYSIS : STERICYCLE
13.1.3 PRODUCT PORTFOLIO
13.1.4 RECENT DEVELOPMENTS
13.2.1 COMPANY OVERVIEW
13.2.2 REVENUE ANALYSIS : SUEZ
13.2.3 PRODUCT PORTFOLIO
13.2.4 RECENT DEVELOPMENTS
13.3 CLEAN HARBORS, INC.
13.3.1 COMPANY OVERVIEW
13.3.2 REVENUE ANALYSIS: CLEAN HARBORS, INC.
13.3.3 PRODUCT PORTFOLIO
13.3.4 RECENT DEVELOPMENTS
13.4.1 COMPANY OVERVIEW
13.4.2 REVENUE ANALYSIS : VEOLIA
13.4.3 PRODUCT PORTFOLIO
13.4.4 RECENT DEVELOPMENTS
13.5 BIOMEDICAL WASTE SOLUTIONS, LLC.
13.5.1 COMPANY OVERVIEW
13.5.2 COMPANY SNAPSHOT: BIOMEDICAL WASTE SOLUTIONS, LLC.
13.5.3 PRODUCT PORTFOLIO
13.5.4 RECENT DEVELOPMENTS
13.6 REMONDIS SE & CO. KG
13.6.1 COMPANY OVERVIEW
13.6.2 COMPANY SNAPSHOT: REMONDIS SE & CO. KG
13.6.3 PRODUCT PORTFOLIO
13.6.4 RECENT DEVELOPMENTS
13.7 SHARPS COMPLIANCE, INC.
13.7.1 COMPANY OVERVIEW
13.7.2 REVENUE ANALYSIS: SHARPS COMPLIANCE, INC.
13.7.3 PRODUCT PORTFOLIO
13.7.4 RECENT DEVELOPMENTS
13.8 WASTE MANAGEMENT, INC.
13.9 DANIELS SHARPSMART
13.10 TRIUMVIRATE ENVIRONMENTAL
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