Impact of Covid-19 on Medical Waste Management Market to Reach $18.34 Bn, Globally, by 2027 at 5.3% CAGR.

: New York, United States, 19th-July-2020, (Via WiredRelease), (Reports and Data) – The global Medical Waste Management Market was valued at USD 11.92 Billion in 2019 and is expected to reach USD 18.34 Billion by the year 2027, at a CAGR of 5.3%. The study talks about the growing population across the globe, which in turn increases the number of patients, resulting in the rising volume of medical waste. Hence there is a requirement of proper management of the medical waste that is generated at an ever-growing rate.

According to the World Health Organization (WHO), around 16 billion injections are used every year across the world, but not all syringes and needles are disposed of appropriately. Rising concerns over employing Eco-friendly and safe management and treatment process, growing health care industry, development of innovative technology for medical waste management, increasing number of government initiatives, risk and high cost of maintaining the equipment in the hospitals and other medical facilities, and rise in elderly population resulting in higher health care demands are some of the key factors propelling market growth in the industry.

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This is the latest COVID-19 report explaining the potential impact of the pandemic on the Medical Waste Management Market. The epidemic outbreak has affected the business sector extensively and will continue to do so for the foreseeable future. Our analysts provide an assessment of the current business scenario and the effects this pandemic might have on the sector in the following years.

Key companies profiled in the report: Biomedical Waste solutions, Clean Harbors, Daniels Sharpsmart Inc., Stericycle, Waste Management Inc., Remondis Group, etc

Waste Type (Revenue, USD Million; 2020–2027)

Sharps

Pathological Waste

Pharmaceuticals Waste

Chemical Waste

Infectious Waste

Gene Toxic Waste

Others

Treatment Site (Revenue, USD Million; 2020–2027)

On-site

Off-site

Treatment Type (Revenue, USD Million; 2020–2027)

Chemical Treatment

Incineration

Autoclaving

Others

Service Type (Revenue, USD Million; 2020–2027)

Recycling

Treatment and Disposal

Collection, Transportation and Storage

Nature of Waste (Revenue, USD Million; 2020–2027)

Hazardous

Non-Hazardous

Waste Generators (Revenue, USD Million; 2018-2026)

Hospitals

Retail Pharmacy

Laboratories

Blood Banks

Research Institutions

Waste Generators (Revenue

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Regional Outlook (Revenue in USD Million; 2020–2027)

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

Further key findings from the report suggest

Across the world, out of the total amount of waste generated by health-care activities, about 85% is general waste and remaining 15% is considered hazardous material that may be infectious, toxic or radioactive.

Infectious and anatomic wastes together represent the majority of the hazardous waste, up to 15% of the total waste from health-care activities. Sharps represent about 1% ,

According to a research article in Indian Journal of Pharmacy Practice, drug wastage accounted for 2.0% to 3.0% of all drug costs, representing more than USD 1.0 Billion in drug wastage in the U.S.

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Key Questions Answered:

What are the key strategies used by prominent players and service providers to get ahead in the Medical Waste Management market?

What are the resources that exist in respective regions that attract the major players in the Medical Waste Management market?

What are the latest technologies that are being used by the market?

How are the recent trends affecting the growth of the global Medical Waste Management market?

What will be the estimated value of the Medical Waste Management market in the forecast period?

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