North America Medical Waste Management Market, By Type of Waste (Hazardous Waste, Non-Hazardous Waste), Service Type (Collection, Transportation and Storage, Treatment and 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), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Medical Waste Management Market
Data Bridge Market Research analyses that the medical waste management market will exhibit a CAGR of around 6.07% for the forecast period of 2022-2029. Rising level of hospital waste, increased utilization of disposable medical devices, growing focus on the adoption of advanced waste management technologies and rising expenditure for the development of healthcare infrastructure especially in the developing economies are the major factors attributable to the growth of medical waste management market.
From the name itself, it is clear that medical waste management refers to the management of waste generated by the hospitals, laboratories, research centres and surgery centres. Medical waste is defined as the by-products of medical equipment that are managed using processes such as incineration, chemical treatment and autoclaving.
Upsurge in the number of hospitals in the developing economies is one of the major factors fostering the growth of the market. Rising number of applications from the emerging countries is another market growth determinant. Ever- rising technological advancement and innovation of new instruments, stringent regulatory framework in order to manage the medical waste safely and in eco-friendly way, surging numbers of awareness program regarding medical waste management and untapped potential of the emerging markets will further generate lucrative market growth opportunities.
However, lack of awareness about health hazards in the underdeveloped economies will derail the market growth rate. Also, high rate of application of plastic in the medical instruments will further pose challenges for the market. Further, high cost of services and transportation provided by emerging key players will also hamper the market growth rate.
This medical waste management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on medical waste management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Medical Waste Management Market Scope and Market Size
The medical waste management market is segmented on the basis of type of waste, service type, treatment type, treatment site, category and source of generation. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on the type of waste, the medical waste management market is segmented into hazardous waste and non-hazardous waste. Hazardous waste is sub-segmented into infectious and pathological waste, pharmaceutical waste, sharps and others.
- On the basis of service type, the medical waste management market is segmented into collection, transportation and storage, treatment and disposal, recycling and others.
- Based on treatment type, the medical waste management market is segmented into incineration, autoclaving, chemical treatment, irradiative, biological and others.
- On the basis of treatment site, the medical waste management market is segmented into offsite and onsite. Offsite service type is sub-segmented into collection, transportation and storage, treatment and disposal, recycling and others. Onsite service type is sub segmented into collection, treatment and disposal, recycling and others.
- The medical waste management is segmented on the basis of category into controlled and uncontrolled.
- On the basis of source of generation, the medical waste management market is segmented into hospitals, physician offices, clinical laboratories, manufacturers and reverse distributors.
Medical Waste Management Market Country Level Analysis
The medical waste management market is segmented on the basis of type of waste, service type, treatment type, treatment site, category and source of generation.
The countries covered in the medical waste management market report are U.S., Canada and Mexico.
U.S. in North America dominates the medical waste management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is because of the growing aging population and stringent regulations in this region.
The country section of the medical waste management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The medical waste management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical waste management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical waste management market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Medical Waste Management Market Share Analysis
The medical waste management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical waste management market.
Some of the major players operating in the medical waste management market report are Stericycle, Inc., Suez, VEOLIA ENVIRONNEMENT SA, BioMedical Waste Solutions, LLC, REMONDIS SE & Co. KG, WM Intellectual Property Holdings, L.L.C., Daniels Sharpsmart Inc., Triumvirate Environmental, CLEAN HARBORS, INC., and Casella Waste Systems, Inc., among others.
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