Reportocean.com have announced the addition of a new report titled " Global Medical Waste Management Market and Forecast to 2025"
Delhi, India -- (SBWIRE) -- 11/25/2019 -- Based on the latest insights in the report title " Medical Waste Management Market Trend & Segmentation By Facility Type (Hospital Waste Management and Pharmaceutical Waste Management, by Type of Waste (Hazardous, Non-Hazardous), By Treatment Type (Chemical, Incineration, Autoclaving), By Services (Collection, Transportation & Storage, Recycling, and Treatment & Disposal), By Treatment Site (Onsite, Offsite); Trend Analysis, Competitive Market Share & Forecast 2025" by Report Ocean, the Market is growing at a CAGR of 5.3%.
The rising patient population across the globe is subsequently resulting in the rising volume of medicinal waste. Thereby, increasing the need and importance of a medical waste management system. Moreover, the widespread prevalence of chronic diseases like cancer and the rising geriatric population are also driving the demand for such a system. Most recently, the Central Pollution Control Board laid down some additional guidelines on the Central Bio-medical Waste Treatment Facilities (CBWTF), heightening the need for imperative measures on medicinal waste management. Similar to this, a large number of innovative initiatives are being applied by government authorities around the globe to tackle the same. Add to this, the developing trend of research & development activities in the field is also expected to boost the growth of the global medical waste management market in the coming years. The advancements being in the tech landscape and the massive generation of medical wastage are some of the other key factors that are propelling the growth of the market. The report published on the global medical waste management market revealed the growth to be at a notable pace.
The global medical waste management market has been segmented in terms of facility type, services, type of waste, treatment site, and applications.
By facility type, the market includes Pharmaceutical Waste Management and Hospital Waste Management.
By type of waste, the market segments into Non-Hazardous and Hazardous.
By treatment type, the market comprises Autoclaving, Chemical, and Incineration. In the field of medical waste management, incineration is reported to be the most commonly used and preferred methodologies. However, the Environment Protection Agency has imposed stringent regulations concerning the use of incineration owing to the deteriorating global warming situation.
By, the market breaks down into Treatment & Disposal Recycling, Transportation & Storage, and Collection.
By treatment site, the market divides into offsite and onsite treatments.
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The global medical waste management market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. The North American region holds a key influence over the welfare of the global market due to its large-scale contribution. The US spearheads the North American regional market with the highest contributory share due to the prevalence of chronic and infectious diseases and the presence of an established healthcare sector. The treatment for a number of chronic diseases herein require advanced as well as surgical aids, one which produce a large various of residues and by-products. A number of hospitals in the US are reportedly seen recycling the single-use products, which are sold back at a fraction of its original pricing.
Elsewhere, the Asia Pacific regional market is another key geographical area for medical waste management. Herein, increasing social awareness, need for waste management, massive generation of medicinal waste, and stringent government regulations are all expected to push the market growth.
The global medical waste management market comprises a host of key players. This includes names like Suez Environnement S.A, Republic Services, BioMedical Waste Solutions, American Ecology Corporation, Daniels Sharpsmart Inc., XMED Disposal, LLC, Suez Environment, Stericycle, Remondis Ag & Co. Kg, Veolia Environnement S.A., Inc., and other prominent players.
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