Sarasota, FL, Oct. 31, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Medical Waste Management Market by Type (Non-Hazardous Waste and Hazardous Waste) and by Treatment (Incineration, Autoclaving, Chemical Treatment and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2022”. According to the report, the global medical waste management market accounted for USD 11.36 billion in 2014 and is expected to reach USD 16.72 billion by 2022, growing at a CAGR of 5.0% between 2015 and 2022.
Health-care activities are means for protecting health, curing the patients and for saving lives. But these activities are also generating waste commonly known as medical waste. Globally, 20 percent health risk either due to infection or of chemical or radiation exposure. These risks which are associated with hazardous medical waste can be significantly reduced through simple and appropriate measures. Segregation is an important technique which is generally used. Segregation prevents the further contamination of medical waste and thus avoids the harmful infection caused by it.
Browse through 29 Market Tables and 33 Figures spread over 102 Pages and in-depth TOC on “Global Medical Waste Management Market: By Type, Treatment, Services, Industry Size, Share, Trends, Analysis and Forecast 2015-2021”.
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North America is the most mature market for medical waste management market. North America is the biggest market and acquires approximately more than 35% of the world market of medical waste management. The growth was accredited to rising awareness amongst the population about medical waste management; high-end research and technological advancements, increasing demand for healthcare product are the important key factors which drive the demand of medical waste management market in this region. Higher healthcare expenditure and fair pricing policy in this region are other growth factors for medical waste management market. In addition, the large number of biopharmaceutical firms and research institutes in the U.S. play a significant role in driving the medical waste management market in North America.
Europe was the second largest market for global medical waste management market and acquired 32% of market share in 2014. This growth is mainly associated with various startups and attractive segment for various companies. Moreover, increasing initiatives by government authorities in Europe is a key driving factor for the growth of medical waste management market.
Browse the full "Medical Waste Management Market by Type (Non-Hazardous Waste and Hazardous Waste) and by Treatment (Incineration, Autoclaving, Chemical Treatment and Others) - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/medical-waste-management-market
Asia Pacific and Latin America together held approximately 28% of total world demand market in 2015 due to emerging markets in countries like India, China, and Brazil. This growth is attributed primarily to the presence of a large number of the hospital in this region supported by the huge patient base. Moreover, increasing awareness supported by various programs on waste management are also key driving factors for the growth of medical waste management market. The growing medical sector and literacy rate mainly in China, Japan and India are also secondary drivers to drive the medical waste management market.
Asia Pacific is likely to present the most promising opportunities and register the fastest CAGR of 5.6% from 2015 to 2022. Increasing percentage elder/over age population coupled with the regular breakout of bacterial/viral infections in Middle East and Africa are likely to fuel the growth of medical waste management market within the forecast period.
Key participants operating in the global medical waste management market include BioMedical Waste Solutions, LLC, Clean Harbors, Inc., Daniels Sharpsmart, Inc., REMONDIS Medison GmbH, Republic Services, Inc., Sharps Compliance, Inc., Stericycle, Inc., Suez Environnement S.A., Veolia Environnement S.A., and Waste Management, Inc.
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This report segments the global medical waste management market as follows:
Global Medical Waste Management Market: Type Analysis
- Nonhazardous Waste
- Hazardous Waste
- Infectious and Pathological Waste
- Pharmaceutical Waste
- Other Medical Waste
Global Medical Waste Management Market: Treatment Analysis
- Chemical Treatment
- Other Treatments
Global Medical Waste Management Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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