Hospital Waste Management Market size was estimated at $10,089 Million in 2019 and is expected to reach $15,371.7 Million by 2027, growing at a CAGR of 6.2% during the forecast period of 2020 to 2027.
Medical waste is the residual waste (liquid & solid form) generated from medical establishments such as hospitals, pharmaceuticals, nursing homes, medical centers, and others during immunization, diagnosis, treatment, surgical procedures of humans and animals. Versatile management options are available for the treatment of these medical waste. It varies due to some specific factors which are: the type of waste, the treatment techniques, the waste disposal procedure, the treatment sites, the nature of waste, the waste generators, the geographical waste management markets.
Due to these various factors, the medical waste management industry trends are gradually distinguished. Hypodermic needles, syringes, lancets, disposable scalpels and blades, contaminated glass, guidewires used in surgery, and other devices and objects used to lacerate the skin are a form of Sharps waste which are bio-hazardous waste to be handled carefully. Pathological or anatomical waste can be of any living organism. Its a category of bio-hazardous waste consisting of organs, tissues, or body parts typically originated from surgical procedure or research of its removal. Pharmaceutical waste contains the waste that is unused, contaminated, damaged, expired, or no longer needed which not given profound aid would lead to being infectious, toxic, or radioactive. Any waste obtained through chemical is chemical waste which must be categorized particularly as to its identity, constituents, and hazards to be handled with safety precautions. These waste residuals usually fall under COSHH, EPA, OSHA, and other such regulations.
Infectious waste can be a biological waste, pathological waste, and sharps resulting in proactively embodied human health infectious.Incineration system which is also described as a thermal treatment used in some cases to generate electric power has lots of changes to the ecosystem. Waste-to-energy techniques like gasification, pyrolysis, and anaerobic digestion are energy recovering with Incineration technology. Low-cost management technique and generating electric power the new emerging trend of waste management also called Non-incineration treatment classifies according to waste handling types. Low-heat Thermal Treatment, Chemical Treatment, Irradiative Treatment, and Biological Treatment are the fundamental processes used to decontaminate waste. Mechanical processes are also a type of Non-Incineration treatment. The medical process renders waste unrecognizable. Waste Management comprises a vast number of services to the public sector. Services such as a disposal, recycling, processing, collecting, transportation, and storage. Intended to reduce adverse reactions on human health, the ecosystem or aesthetics is the sole purpose of waste management. Improvised technology-induced methods are being used in developed countries. However, developing countries are arising with improvised ideas for precautions and protection of the public sector for the services to be carried out with extremity with help of regulations such as WHO. Usually, the treatment of medical waste and its disposal is outsourced off-site, hence the largest share is accounted for this segment. On-site management indulges services like collection, recycling, and treatment, and Off-site management indulges services like transportation, storage, and all of the on-site treatment. It is a debatable subject to choose between off-site and on-site locations for treating medical waste.
Popularly advancing techniques in growth are Autoclave and Steam Sterilization Technology. An extremely important part of Medical Waste Management is the Sterilization and treatment of medical waste. Thus, Autoclaving is considering to be the one necessary sterilization method. Autoclaving entails a sterilization machine the uses steam heated to 300 degrees, that machine is called Autoclave. It varies from as small as the top of a desk to twenty-five feet long and ten feet high in size. Size difference obviously accommodates the different amounts of medical waste. Market growth is being propelled through an increase in Health-care Spending. Safe management of wastes from health-care activities is the first global and ecumenical guidance document by the WHO (World Health Organization). it has also developed training modules ranging on good practices to health-care waste management covering its varied aspects and guiding safe disposal.
A rising prevalence of diseases, such as cancer and other chronic disorders alongside an increasing geriatric population and road accidents trigger high demand for advanced medical solutions, as a result of which, the availability of advanced medical solutions amalgamated with an increasing patient pool is leading to large amounts of waste and by-products. Moreover, growth of the market is also effected by efficient supply of inventories that are required in regular functioning of hospitals, clinics, and diagnostic centres, which in turn results in high generation of waste, and these by-products require a proper service or system for being collected, transported, disposed, and recycled. Some of the treatment, disposal, and recycling procedures result in the release of hazardous gases and compounds, such as mercury and oxides that can lead to land, air, and water pollution, resulting in the spread of infectious agents that may manifest in the form of cancer. Hence, the need for a proper and organized hospital waste management system is certain to fuel the growth of the hospital waste management market. Favourable government initiatives taken to fund medical waste management programmes in emerging markets are bound to trigger growth. The novel coronavirus has highlighted the importance of frontline workers and medical waste associated with the virus is being collected from specified locations such as major hospitals and zonal areas. This type of waste being highly infectious needs to be managed adhering to safety regulations by implementing effective hospital waste management systems, thus fostering its demand. In addition to this, the need for managing solid healthcare amenities is foremost priority.
A drastic transition in the market from larger players to smaller-size local players may hinder the growth. Developing countries lack clear, stringent guidelines and regulations for the management of medical waste, thereby hindering the market growth in this arena.
By Treatment Site
By Type of Waste
By Treatment Type
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