Continuously expanding healthcare industry supported by growing population with geriatric population in particular has led to the generation of substantial amount of medical waste, each year, over the world. These medical wastes have been categorized into four major types, namely, infectious, hazardous, radioactive and general wastes. Of these infectious, hazardous and radioactive medical wastes being potentially risky to human as well as environment are required to be disposed of with special caution. General wastes which are similar to common domestic and official wastes and do not require special treatment. There are a large number of companies that offer waste management services to healthcare facilities seeking help for medical waste disposal. The medical waste management market was valued at USD 14,541.5 million in 2012 and is expected to reach USD 20,130.1 million in 2019, growing at a CAGR of 4.8% during the forecast period 2013 to 2019.
Collection, processing and disposal are three major services offered by medical waste companies. Collection constituted the largest segment of the overall medical waste management market with a revenue share of 54.5% in 2012. However, during the forecast period 2013 to 2019, processing segment has been anticipated to grow with the fastest CAGR mainly because the industry is witnessing a rise in demand for non-incineration technologies for waste treatment. Healthcare facilities have been grouped into large quantity generators (LQGs) and small quantity generators (SQGs), based on the amount of medical waste generated. The market for medical waste management is witnessing a continuous rise in the revenue generated from SQGs. It is primarily because most service providers are focusing their attention towards the SQGs as they offer higher profit margin than LQGs and are also easy to target.
Geographically, North America held the majority share of the overall medical waste management market, followed by Europe that accounted for the second largest share. These two regions are expected to retain their position throughout the forecast period 2013 to 2019. Governmental regulations mandating proper disposal of medical waste across North American and European countries has been considered as one of the major factors driving market growth in these regions during the forecast period. In Asia-Pacific region, Japan, Australia and New Zealand are the major markets that offer immense opportunities to waste management companies operating in this market. However, in countries like India and China, the market is highly untapped owing to low awareness level and due to lack of strict governmental regulations. In Rest of the World (RoW), Brazil, Mexico, South Africa, Israel, Turkey and UAE are the major markets where medical waste management market is expected to record maximum growth.
Stericycle, Inc., Waste Management, Inc., Republic Services, Inc., Veolia Environmental Services, Suez Environment SA, Clean Harbors, Inc. and US Ecology, Inc. are some major companies providing various waste management services to healthcare facilities seeking help for waste disposal.
The report on medical waste management market analyzes the current as well as future prospects and various facets of the market in detail. Healthcare industry serves population of a country/region by protecting health of individuals and saving lives of many. However, while doing so they generate a lot of waste which entails risk to people. As the healthcare industry is rapidly growing across the globe, there will be increasing is an over increasing need for medical waste management and the service providers in the market will witness attractive market opportunities than ever. For the research on this topic, we conducted in-depth interviews and discussions with a wide range of key opinion leaders within medical waste management market, which was supplemented by extensive secondary research.
The market assessment and forecast in terms of revenue (USD million) for each segment of medical waste management have been provided for the period 2011 to 2019, considering 2012 as the base year. The report also provides the compounded annual growth rate (CAGR %) for the global medical waste management market and each sub-segment, for the forecast period 2013 to 2019. Growth rates for each segment within the global medical waste management market have been determined after thorough analysis of past trends, demographics, future trends, technological developments, regulatory requirements.
The market for global medical waste management has been categorized into three major segments, namely, collection, processing and disposal, on the basis of activity type. According to our estimates, in 2012, the collection segment accounted for largest share in the global medical waste management market while the processing segment is expected to grow at a faster pace than other segments. Simultaneously, considering the amount of medical waste generated, the overall medical waste management market has also been segmented into large quantity generators (LQGs) and small quantity generators (SQGs). The market for medical waste management is being presently propelled by increasing business from small quantity generators (SQGs).
In terms of geographical distribution, the global medical waste management market has been segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The major market in the overall global medical waste management market includes North America and Europe. Several regulations, legislations, government policies and directives in these regions are contributing to the growth of global medical waste management. The market in the Asia-Pacific is expected to grow particularly due to opportunities in the countries like Japan, Australia and New Zealand. Along with the overall medical waste management market, the report also studies the market size and forecast for each segment with respect to all four regions, for the period 2011 to 2019 along with the CAGR (%) for the forecast period 2013 to 2019. The study also includes qualitative analysis of the competitive scenario and governmental regulations in these regions. In the market overview section of the report on medical waste management market, a detailed qualitative analysis of the major market dynamics such as drivers, restraints and opportunities, along with Porter’s five forces analysis and market attractiveness analysis have been discussed. The market attractiveness analysis provides information on attractive market segments in mature and new markets. The section also comprises of a qualitative analysis of market shares of key players of medical waste management market. The study also suggests a list of recommendations that is likely to help service providers in decision making process.
The report concludes with the company profiles of key players operating in the global medical waste management market. These players include Stericycle, Inc., Waste Management, Inc., Republic Services, Inc., Veolia Environnement SA, Suez Environnement SA, US Ecology, Inc. and Clean Harbors, Inc.
The global medical waste management market is segmented as follows:
Medical Waste Management Market, by Activity Type
Medical Waste Management Market, by Waste Generators
- Large Quantity Generators (LQGs)
- Small Quantity Generators (SQGs)
Medical Waste Management Market, by Geography
- North America
- Rest of the World (RoW)