U.S. Medical Waste Management Market : Global Forecast Over 2024
Medical waste refers to a type of waste material containing material that is infectious or is potentially infectious. It comprises waste produced by various healthcare setups such as veterinary clinics, medical research facilities, dental practices, laboratories, hospitals, and physician’s offices. Medical waste comes with bodily fluids such as blood and various contaminants.
The global U.S. medical waste management market is likely to be influenced by thriving pharmaceutical and medical device industry together with rising number of diagnostic tests. In addition to that, stringent recycling, disposal, and emission norms strictly regulate the U.S. medical waste. Furthermore, technological developments along with the development of various innovative and advanced disposal techniques are likely to boost the global U.S. medical waste management market. Both government and non-government agencies are making constant efforts to ensure safety of the people from various harmful medical waste.
Some of the key players profiled in this report include Sanpro Medical Waste Disposal, Waste Management, Inc., Citiwaste Medical Waste Disposal, Sharps Compliance Medical Waste Disposal, MedPro Waste Disposal, and BioMedical Waste Solutions.
Transparency Market Research has prepared an all-inclusive study on the global U.S. medical waste management market, for the period of 2015 to 2023. The report prophesizes that the global U.S. medical waste management market is likely to grow at a rate of 3.4 % CAGR, reaching US$ 4.92 Bn through 2023.
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The U.S. is likely to be Driven by the Increased Incidence of Chronic and Infectious Diseases
Notrth America is one of the prominent regions in the medical waste management market. The entire region is expected to witness considerable growth due to the rising number of patients suffering from chronic and infectious diseases. In addition, presence of robust healthcare facilities is likely to drive the medical waste management services in North America.
Considering the regional aspect of the US medical waste management market, it is estimated that the country is likely to exhibit substantial growth over the tenure of assessment. Much of the growth of the market is due to the presence of robust healthcare infrastructure across the U.S. The US medical waste management market is likely to witness even growth across the country over the tenure of forecast, from 2015 to 2023.
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Need for Greener Methods is Likely to Bolster Demand for Non-Incineration Technologies
The US medical waste management market is likely to ride high on the back of presence of well-developed healthcare sector in the country. In addition to that, increased prevalence of chronic and infectious diseases requiring high-end surgical and medical aids is likely to work in favor of the US medical waste management market over the period of assessment, from 2015 to 2023. Treatment of such diseases results in the production of a large number of biological residues and by products. Several hospitals in the U.S. have already started recycling their single use products. These products are sold back to the hospitals at a fraction of the original price.
Traditionally, incineration of medical wastes has been one of the most dominant methods of waste management procedures. However, this process results in the release of numerous harmful gases like dioxins, sulfur dioxide, and carbon monoxide. These gases play a significant role in contributing toward global warming. The Environment Protection Agency (EPA) has tightened the limits of air emission in the U.S. Stricter laws have resulted in the increased take up of non-incineration technologies like non-ionization radiation treatment, steam autoclave treatment, and a wide variety of chemical-based treatments. In addition, less requirement of capital together with the capability of efficaciously converting medical waste into efficient materials is likely to drive the US medical waste management market in years to come.
The information shared in this review is based on a TMR report, bearing the title, “U.S. medical waste management market (Type of Waste – Sharps, Infectious and Pathological Waste, Non-infectious Waste, Radioactive Waste, and Pharmaceutical Waste; Service – Collection, Transportation, Storage, Waste Treatment, and Disposal Method) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 to 2023”
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