Published Date: 2020-05-08
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According to the Graphical Research new growth forecast report titled Asia Pacific Medical Waste Management Market size is set to exceed USD 3.9 billion by 2026. The rising necessity for appropriate and safe handling of biomedical waste will propel the demand for better medical waste services in the Asia Pacific region. Biomedical waste contains various infectious components, generated by healthcare amenities including blood bank research centers as well as hospitals, among others. Hence, several enterprises working in this industry are undergoing numerous guidelines and compliances to control the spread of infections, thereby propelling the overall market progression. However, the dearth of skilled healthcare professionals may hamper the Asia Pacific medical waste management business growth.
The type of waste segment covers non-hazardous and hazardous biomedical waste. The non-hazardous segmented accounted for around USD 1.5 billion in 2019. The general non-regulated medical waste is commonly known as non-hazardous medical waste that does not pose any radioactive, biological, chemical, and physical danger. The World Health Organization has characterized animal tissues and non-contaminated equipment as non-hazardous. Moreover, several service providers in the Asia Pacific region are widely offering advanced non-hazardous waste services for accurate and harmless disposal of medical waste. Hence, the above-mentioned factors positively influence the segmental growth.
Based on services, the market is branched into treatment and disposable services, collection, transportation, & storage services and recycling services, among others. The treatment and disposable services segmented is anticipated to witness more than 25% revenue share in 2019. This segment further covers incineration, autoclaving, microwaving, and others. Amongst them, incineration is the extensively used treatment method in the Asia Pacific region, as this is the most ancient method to detect and threat pathological waste. Furthermore, the development of novel technologies for several treatment methods with the surged accumulation of medical waste due to coronavirus will propel the market growth.
Based on end-use, the industry is fragmented into laboratories, and research centers, nursing homes, hospitals, and others. The other segment captured over 9.5% CAGR in 2019. Mortuary & autopsy centers, blood banks amongst others are included in the other segment. A large number of medical waste is accumulated in urgent care clinics and dental offices due to an increasing number of oral surgeries in the Asia Pacific region. Also, these clinics are equipped with advanced technologies that surge the segmental demand.
India medical waste management market is projected to experience over 8.5% CAGR during the analysis period. Various efforts to ensure precise storage as well as the collection of biomedical waste in this country to limit the spread of infectious diseases will augment business growth. Different companies working in this industry are undergoing government guidelines and regulations to protect the human health and environment that will enhance the overall regional development.
Some of the well-known business players working in the market are Republic Services, Triumvirate Environmental, Daniels, Stericycle, Biomedical Waste Solutions, Veolia, Clean Harbors and Suez. These prominent industry players have undertaken numerous inorganic and organic growth strategies for business progression.
Asia Pacific Medical Waste Management Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market Share, By Type of Waste, 2015 - 2026 (USD Million)
Market Size, By Service, 2015 - 2026 (USD Million)
Market Value, By Waste Generator, 2015 - 2026 (USD Million)
The above information is provided for the following region and countries:
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