Medical Waste Management Market by Type of Waste (Non-Hazardous, Infectious, Sharps, Pharmaceuticals), Service (Treatment, Disposal, Recycling), Treatment Type (Incineration, Autoclaving), Treatment Site (Offsite, Onsite) - Global Forecast to 2020
The medical waste management market is expected to reach USD 13.3 billion by 2020 from USD 10.3 billion in 2015, at a CAGR of 5.2%. The global medical waste management market is segmented based on type of waste, services, treatment type, treatment site, and geography. The treatment and disposal segment is expected to register the highest growth rate in the medical waste management market, by service, during the forecast period. The high growth in this segment is attributed to the increasing government initiatives for the disposal of medical waste.
Major factors contributing to the growth of the medical waste management market include increasing initiatives by regulatory authorities for improving medical waste management services, rising aging population, the increasing number of conferences and symposia, and the generation of large amounts of medical waste. Furthermore, government support in the form of funding is another major factor driving the growth of this market. For instance, in December 2014, the United Nations Development Programme (UNDP), the Global Environment Facility (GEF), and the Government of South Korea together invested USD 4 million for providing medical waste treatment equipment such as autoclaves to Ebola-affected countries. The outsourcing of medical waste management services and technological advancements has opened an array of opportunities for the growth of the medical waste management market. However, high capital investment is expected to restrain the growth of this market.
Apart from comprehensive geographic and product/service analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of future trends will help key market players and new entrants to make the necessary decisions regarding service offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the market.
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product/service portfolios of the top players in the market. The report analyzes the market based on type of waste, services, treatment type, treatment site, and geography
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the market
Competitive Assessment: In-depth assessment of strategies, geographic and business segments, and product portfolios of the leading players in the medical waste management market
Market Development: Comprehensive information about lucrative emerging markets. This report analyzes the market for various medical waste management services and products across geographies
Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the medical waste management market