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U.S. Medical Waste Management Market Receives Strong Backing from Government and Environmental Bodies

Press release Description

Albany, New York, July 07, 2016: Every year, a huge amount of medical waste is generated due to the growing healthcare industry. Thus, there has been a rise in the implementation of medical waste management as it helps in the safe disposal and management of medical waste. The U.S. medical waste management market is expected to expand at a CAGR of 3.4% from 2015 to 2023, states a latest report that is now available on Market Research Reports Search Engine (MRRSE). 

The report, titled, ‘Medical Waste Management Market – (Medical Waste Management – Type and Service; Pharmaceutical Waste Management – Type, Category, and Substance Generator – U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,’ has been published by Transparency Market Research. According to the report, the U.S. medical waste management market, which was valued at US$5.89 bn in 2014, is predicted to reach US$7.99 bn by 2023.

Medical waste can be composed of plastic, papers, used syringes, expired medicines, blood-soaked bandages, dirty human bedding, nappy waste, and cultures that need to be disposed of in a proper manner. Medical waste is generated in hospitals, diagnostic laboratories, dental clinics, nursing homes, and pharmaceutical companies. It is equally harmful for humans and the environment. Poor handling of bioactive waste from hospitals pose a great risk for waste handlers, healthcare professionals, and patients.

The rising number of diagnostic laboratories, healthcare centers, nursing homes, hospitals, dental clinics, pharmaceutical manufacturers, and veterinary chambers is primarily responsible for the growth of the medical waste management market. Technological advancements are also encouraging the U.S. medical waste management market to grow. The rising geriatric population is causing a growth in the overall healthcare industry, which is in turn benefitting the U.S. medical waste management market. The U.S. medical waste management market also receives support from government and environmental bodies, which is further aiding the growth of the market.

On the other hand, the high capital investments associated with the medical waste management industry are restraining the market. Intense competition in the market between regional and local players will also impact the market negatively. However, the focus on small quantity waste generators by the market players will act as an opportunity and the market will grow.

The U.S. medical waste management market is segmented on the basis of type of waste and service. By type of waste, the market is segmented into sharps, infectious and pathological waste, non-infectious waste, radioactive waste, and pharmaceutical waste. Of these, the non-infectious waste segment accounted for the largest share in the market in 2014. Based on type of service, the market is segmented into collection, transportation, and storage, waste treatment, and disposal method. The disposal segment led the market in the U.S. in 2014, and is also expected to expand at the highest CAGR in the coming years.

Browse Full U.S. Medical Waste Management Market Report with TOC :

The report profiles major companies operating in the U.S. medical waste management such as Veolia Environnement SA, Stericycle, Inc., Republic Services, Inc., Waste Management, Inc., Suez Environnement SA, Clean Harbors, Inc., and US Ecology, Inc.

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