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Medical waste management market to register an appreciable growth rate through 2026

Author : Ronak Bora | Published Date : 2020-09-03 

Medical Waste Management Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The global medical waste management market is anticipated to observe heavy growth in the coming years owing to the growing need for effective, and efficient medical waste management services across the globe. Newly introduced treatment options and therapies for various diseases are also likely to play a pivotal role in the market expansion over the forthcoming timeframe.

Additionally, the rapidly increasing amount of coronavirus related medical waste is creating a tremendous need for effective medical waste handling and disposal services. This trend is projected to provide a significant growth impetus for the overall market landscape in coming years.

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Global Market Insights Inc., estimates that the global medical waste management market is set to surpass a valuation of $16 billion by 2026.

Growing geriatric population base across the globe will escalate the need for medical waste management as elderly populace is prone to chronic diseases such as asthma, cancer, Alzheimer’s, among others. Some of these disorders are commonly treated by surgeries in specialty clinics and hospitals and the treatments result in accumulation of medical waste like used needles, syringes, contaminated gloves and other equipment.

The WHO estimates that the proportion of old age people will nearly get doubled from 12% to 22% over 2025-2050. This may further create huge demand for medical waste management services in the future.

In 2018, the World Health Organization developed a document which is referred as safe management of wastes from healthcare activities. The document addressed several factors including minimizing waste, handling & storage, treatment, new disposal options, regulatory framework and more.

It also presented a training module series for health care waste management which gives a proper insight on every aspect of medical waste management activities for safe disposal. Such favorable initiatives by organizations like WHO and other regulatory bodies will encourage adoption of these services.

Waste that may be contaminated by blood, body fluids, or other infectious materials comes under the category of hazardous waste. Hazardous waste can be considered infectious depending upon its origin along with exposure to human tissue before it is discarded. Generally, sharps waste which includes syringes, needles, discarded surgical instruments, lancets, culture dishes, glassware, and scalpels is categorized as hazardous waste as it can cause severe injury to healthcare workers while handling the medical waste.

Such waste can be toxic, reactive and flammable, which hence require for proper treatment and disposable services. In 2019, hazardous type of medical waste accounted for over 20% of the waste management market share. The current outbreak of COVID-19 has further aggravated the need for proper management of medical waste as it has become very crucial to protect the environment as well as human health amid the crisis.

Asian countries including China, Japan and India have inadequate medical waste treatment facilities that creating heavy requirement for medical waste management services. Estimates suggests that China generates around 650,000 tons of medical waste each year, and this volume is expected to grow at a faster rate due to the coronavirus impact on the country.

China has increased its focus on the proper management of medical waste and under the Medical Waste Control Act 380, is also addressing the control of medical waste. In 2019, China medical waste management industry size accounted for nearly 8% of the total share and will witness substantial growth over the coming years. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/medical-waste-management-market

Partial Chapter of the Table of Content 

Chapter 4. Medical Waste Management Market, By Type of Waste

4.1. Key segment trends

4.2. Hazardous

4.2.1.    Market size, by region, 2015 – 2026

4.3. Non- hazardous

4.3.1.    Market size, by region, 2015 – 2026

Chapter 5. Medical Waste Management Market, By Service

5.1. Key segment trends

5.2. Collection, transportation & storage services

5.2.1.    Market size, by region, 2015 – 2026

5.3. Treatment and disposable services

5.3.1.    Market size, by region, 2015 – 2026

5.3.2.    Incineration    Market size, by region, 2015 – 2026

5.3.3.    Autoclaving    Market size, by region, 2015 – 2026

5.3.4.    Microwaving    Market size, by region, 2015 – 2026

5.3.5.    Others    Market size, by region, 2015 – 2026

5.4. Recycling services

5.4.1.    Market size, by region, 2015 – 2026

5.5. Others

5.5.1.    Market size, by region, 2015 – 2026

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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