San Francisco, California, December 21, 2017: A recent market research report by TMR Research presents an analytical overview of the global market for medical waste management. The detailed market research report is titled “Medical Waste Management Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.”
Waste management activities in the medical industry call for highly specialized operations, procedures, and devices owing to the complex and often toxic nature of the waste. Poor management of medical waste may lead to many health issues among patients, their families, the employees handling the waste, as well as the ones who come in contact with the waste. Owing to the vast rise in healthcare procedures of a variety of kinds, a vast rise in diagnostic procedures, and rising patient population in the past few years, the need for effective management of medical waste has massively increased.
The report states that the increased demand for effective medical waste management practices will emerge as the key growth driver of the global medical waste management market in the next few years. The market will also benefit from vast technological advancements, the increased adoption of non-incineration techniques, and stringent government regulations pertaining to the proper disposal of medical waste across the globe. The market is also driven due to the thriving medical device and pharmaceutical industries, vast rise in research and development activities in the life sciences sector, and increasing awareness regarding the need for proper disposal of medical waste.
From a geographical standpoint, the market for medical waste management is most developed and established in developed economies across regions such as Europe and North America. Presently, the market in North America accounts for the dominant share in the overall revenue of the global market, followed by the market in Europe. These regions are also expected to remain the leading regional markets for medical waste management over the report’s forecast period, thanks to the thriving healthcare, medical devices, and biotechnology industries, and early adoption of advanced technologies. Strict governmental regulations regarding the proper management of medical waste will also make these regions the most promising in terms of revenue opportunity for companies operating in the medical waste management market.
In Asia Pacific, Australia, Japan, and Australia present the most lucrative opportunities for the growth of this regional market. However, countries such as India and China present fewer opportunities to the growth of the regional market due to a low level of awareness about medical waste disposal and due to the absence of strict governmental mandates for the same.
In Rest of the World, Israel, countries such as South Africa, Mexico, Brazil, Turkey, and UAE present the maximum opportunities to waste management companies that operate in this region.
The report also presents a thorough account of the competitive landscape of the global medical waste management market. Along with an overview of the detailed business profiles of some of the leading companies operating in the global market, the report also presents an account of the development trajectory of the market in the past years. The report includes data such as recent collaborations, mergers, acquisitions, and their details. Some of the leading companies operating in the market are Suez Environment SA, Republic Services Inc., Clean Harbors Inc., Waste Management Inc., US Ecology Inc., Stericycle Inc., and Veolia Environmental Services.
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