250 Pages Medical Waste Management Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Medical Waste Management to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Medical Waste Management market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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According to Fact.MR, the medical waste management market was valued at above US$ 16 Bn in 2020, and is expected to surpass US$ 22 Bn by 2031. There is growing market demand for clean and safe disposable medical wastes in the industry due to the increasing number of diseases around the world.
Healthcare systems have outsourced their medical waste management services to third parties, therefore expanding their scope. Furthermore, the COVID-19 pandemic is likely to lead to an increased need to properly dispose of medical waste within healthcare settings to prevent the spread of infection.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Medical Waste Management market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Medical Waste Management
The report offers actionable and valuable market insights of Medical Waste Management. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Medical Waste Management Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Medical Waste Management, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Medical Waste Management Market.
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Key Segments Covered
- Nature of Waste
- Non-hazardous Waste
- Hazardous Waste
- Type of Waste
- Sharps
- Infectious & Pathological Waste
- Radioactive Waste
- Pharmaceutical Waste
- Non-infectious Waste
- Waste Generator Type
- Large Quantity Waste Generator:
- Hospitals (Private & Public)
- Pharmaceutical & Biotechnology companies
- Mid & Small Quantity Waste Generator:
- Clinics & Physicians’ Offices
- Retail Pharmacy
- Ambulatory Surgical Centers & Long-term Care Centers
- Laboratories (Pathological & Diagnostic)
- Academic & Research Institutions
- Blood Banks
- Others
- Service Type
- On-site Waste Management
- Off-site Waste Management
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Competitive Landscape
Prominent players in the global market for medical waste management are leveraging partnerships with governments, consulting firms and other medical waste management service providers to augment their presence in the market.
- On June 7th, 2021, Cambodia, in cooperation with UNDP, will launch a new medical waste management project under the South-South Cooperation Assistance Fund (SSCAF) with the support of China, to seek experience and expertise in managing infectious waste
- On April 1st, 2021, Aurora Capital Partners announced the purchase of Curtis Bay Medical Waste Services, an industry leader in medical waste collection, disposal, and treatment services. This acquisition will enable it to acquire a strong foothold in the market.
- On August 18th, 2020, OnSite Waste created a portable sharps and red bag waste treatment unit that will enable generators to process wastes at their own facilities, eliminating the need to hire contractors to handle hazardous waste processing and disposal. About 15% residual remains after the process takes three hours, which can be recycled as municipal solid waste.
Key Takeaways from the Medical Waste Management Market Study:
- By nature, non-hazardous medical waste is anticipated to account for a major chunk of the medical waste management market. The segment is poised to capture a market share of nearly 70% across the forecast period.
- By waste type, the infectious waste segment is expected to grow the fastest, at a CAGR of 6.0%. This is attributed to the growing prevalence of infectious diseases such as SARS, Hepatitis, Tuberculosis and influenza. However, the non-infectious segment shall remain dominant, owing to rising prevalence of chronic disorders in the wake of a rapidly aging population.
- By waste generator, large quantity waste generators are poised to remain in the vanguard of the medical waste generators market. Hospitals constitute the major chunk of medical waste generators, owing to the large volume of surgical procedures happening in a day.
- By service type, off-site waste management shall gain traction, attributed to stringent government regulations and increased burden of healthcare expenditure. Key healthcare settings have been outsourcing their waste management to outside parties.
- Regionally, North America is set to dominate the market, capturing nearly 40% market share while Asia-Pacific is expected to be significantly leveraged. Stringent healthcare regulations are boosting medical waste management prospects in North America while a rapidly evolving healthcare infrastructure drives growth in the Asia-Pacific.
“The medical waste management market is poised to gain traction across the forecast period, attributed to legal frameworks implemented for tackling medical waste. Key market players are capitalizing on their internal dynamics to provide efficient waste management solutions to potential clients,” says a Fact.MR analyst.
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Report Benefits & Key Questions Answered
- Medical Waste Management Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Medical Waste Management Historical volume analysis: The report provides a comparison of Medical Waste Management’s historical sales and projected sales performance for 2021-2031.
- Medical Waste Management Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Medical Waste Management market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Medical Waste Management Consumption by demographics: The report investigates consumer behavior affecting Medical Waste Management demand outlook for the assessment period. Effect of their keenness for digital trends on Medical Waste Management market is carefully analyzed
- Post COVID consumer spending on Medical Waste Management: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Medical Waste Management market growth.
More Valuable Insights on Medical Waste Management Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Medical Waste Management, Sales and Demand of Medical Waste Management, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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