The medical waste management market is majorly segmented into services, type of medical waste, services site, treatment, waste generator, and region.
Further, the medical waste management market based on services includes treatment, disposable, and recycling. Medical waste management market in terms of the type of medical waste is classified into biohazardous, non-hazardous, sharps, pharmaceutical, radioactive, and others. Based on the medical waste management market, services site segment is divided into onsite services, and offsite services. In terms of treatment segment medical waste management market is categorized into incineration, autoclaving, chemical treatment, and others. Further, medical waste management market based on waste generator includes hospitals, clinics, ambulatory surgical centers, pharmaceutical companies, biotechnology companies, and others.
Based on regions, the global medical waste management market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Global Medical Waste Management Market
Based on services, the treatment & disposal segment accounted for the largest share of the market due to increasing government initiatives for the disposal of medical waste is driving the growth of the global medical waste management market.
In terms of treatment type, the incineration segment accounted for the largest share of this market due to the technological advancements and the generation of large amounts of medical waste across the globe.
Increasing initiatives by regulatory authorities for improving medical waste management services, rising aging population, increasing number of conferences & symposia, and the generation of large amounts of medical waste is propelling the market growth. Additionally, raising awareness regarding medical waste is boosting the global medical waste management market growth
The need for high capital investment and lack of awareness about proper methods of waste segregation among healthcare workers is limiting the global medical waste management market growth.
The outsourcing of medical waste management services and technological advancements is opening the opportunities for the global medical waste management market growth.
Geographically, North America is expected to account for the largest share of the market during the forecast period owing to its growth is driven by its stringent regulations for medical waste management, the rising aging population, and the generation of a large amount of medical waste. Asia-Pacific is expected to witness the highest growth rate during the forecast period, due to the rising social awareness and establishment of stringent regulations for the proper disposal of medical residues as well as by-products.
The key players operating in the global medical waste management market are BioMedical Waste Solutions, LLC, Suez Environment, Stericycle, Republic Services, Daniels Sharpsmart Inc., Remondis Ag & Co.Kg, Veolia Environnement S.A., XMED Disposal, Inc., American Ecology Corporation, Suez Environnement S.A, Remondis AG & CO. KG, Radiancy, Inc, Bondtech Corporation, BWS, Inc. ,Cleanaway Waste Management Limited, Daniels Health USA, Gamma Waste Systems, Hawaii Bio-Waste Systems, Inc., MedWaste Management, REMONDIS Medison GmbH, San-I-Pak Pacific, Inc., Sharps Compliance, Inc., STI BioSAFE., SUEZ Recycling & Recovery Pty Ltd., The Mark-Costello Co., Veolia Environmental Services, Waste Management, Inc., and Clean Harbors, Inc.
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