|Global Medical Waste Management Market Size Expected to Surge to 5.6% CGAR and Reach USD 9,400 Million During 2020-2026: Facts & Factors|
|By GLOBE NEWSWIRE|
|Friday, 11 June 2021 03:57|
New York, NY, June 11, 2021 (GLOBE NEWSWIRE)
New York, NY, June 11, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Medical Waste Management Market by Service Type (Collection, Transportation, & Storage Services, Recycling Services, Treatment & Disposal Services, and Others) By Waste Type (Hazardous Waste and Non-Hazardous Waste), By Treatment Site (Onsite Treatment and Offsite Treatment), By Waste Generator (Hospitals, Research Centres, Diagnostic Laboratories, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the recent research report, the demand of global Medical Waste Management Market size & share expected to reach to USD 9,400 Million by 2026 from USD 6,800 Million in 2020, at a compound annual growth rate (CAGR) of 5.6% during the forecast period 2021 to 2026”
Global Medical Waste Management Market: Overview
Medical waste is garbage created by healthcare institutions such as physician's offices, hospitals, dental practices, labs, medical research institutions, and veterinary clinics that contains infectious material. Medical waste may contain body fluids, such as blood, as well as other pollutants. The Medical Waste Tracking Act of 1988 defines it as waste created during human or animal medical research, testing, diagnosis, vaccination, or treatment. Bandages, swabs, gloves, discarded needles, and tissue are just a few examples of medical waste.
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Industry Major Market Players
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The medical waste management industry is likely to be driven by the increased usage of disposable medical items in healthcare institutions. Most goods used in a healthcare context are single-use to prevent cross-contamination among patients and reduce hospital-acquired infections. Due to the COVID-19 pandemic epidemic, the usage of single-use or disposal goods increased dramatically. Surgical gloves, masks, disposable bed sheets, intravenous saline bags, syringes, and other commonly used disposables make for the majority of hospital waste. As a result, the market is likely to be driven by the increased usage of disposable medical items.
The medical waste management market's expansion is being stifled by a lack of knowledge in emerging nations. Lack of knowledge of biomedical waste regulatory requirements and medical waste management protocols among health care providers and sanitation workers is triggering improper waste segregation, resulting in increased toxic waste, needle prick injuries, and infections such as hepatitis, putting a strain on medical waste management companies. Infectious waste (also known as hazardous medical waste) accounts for 15 to 25% of overall healthcare waste. Health care waste is not segregated into hazardous and non-hazardous waste in low-income nations, according to the World Health Organization (WHO), resulting in an increase in the real quantity of hazardous waste. As a result, in developing nations, a lack of understanding is impeding the growth of the medical waste management market.
Global Medical Waste Management: Segmentation
The global medical waste management is segregated based on service type, waste type, treatment site, waste generator, and region
Collection, transportation, & storage services, recycling services, treatment & disposal services, and others make up the service type segment of the global medical waste management industry. Global medical waste management can be divided into hazardous waste and non-hazardous waste based on the waste type segment. Based on the treatment site, the global medical waste management industry is categorized into onsite treatment and offsite treatment. Hospitals, research centers, diagnostic laboratories, and others are the waste generator segment of the global medical waste management industry.
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North America is projected to Dominate Global Medical Waste Management Market Growth
In terms of value, the highest market share was held by North America, followed by the Asia Pacific. The rise of the medical waste management sector in North America is being fueled by the region's aging society and stringent laws.
Browse the full “Medical Waste Management Market by Service Type (Collection, Transportation, & Storage Services, Recycling Services, Treatment & Disposal Services, and Others) By Waste Type (Hazardous Waste and Non-Hazardous Waste), By Treatment Site (Onsite Treatment and Offsite Treatment), By Waste Generator (Hospitals, Research Centres, Diagnostic Laboratories, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/medical-waste-management
The global medical waste management market is segmented as follows:
By Service Type:
By Waste Type:
By Treatment Site:
By Waste Generator:
Key Highlights of this Report:
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