(Online Herald News — July 14, 2016) —ALBANY, New York – The number of patient visits to healthcare centers and hospitals is consistently rising in the U.S. This has made medical service providers outsource medical waste disposal services to minimize costs. Over the next few years, increasing waste generation will create new growth opportunities for companies operating in the U.S. medical waste management market, finds a new report added by Market Research Hub to its repository.
The report, titled ‘Medical Waste Management Market – (Medical Waste Management – Type and Service; Pharmaceutical Waste Management – Type, Category, and Substance Generator – U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,’ briefly defines medical waste management and further studies the changing trends in the market. Leading players and their developmental trends are analyzed in the report. As per the findings, the U.S. medical waste management market is primarily driven by the entry of NGOs and their initiatives to introduce new waste management solutions.
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The U.S. medical waste management market includes the pharmaceutical waste management and medical waste management markets. By type, the U.S. medical waste management market is segmented into infectious and pathological waste, radioactive waste, sharps waste, non-infectious waste, and pharmaceutical waste. The U.S. medical waste management market is predicted to be the most promising market of the U.S. medical waste management market owing to the increasing awareness programs initiated by government or private bodies to better manage medical waste.
The U.S. pharmaceutical waste management market is segmented on the basis of substance generator, type, and category. By type, the market is classified into non-hazardous and hazardous waste. Based on substance generator, the U.S. pharmaceutical waste management market is classified into hospitals, clinical laboratories, reverse distributors, physician offices, and manufacturers.
The research briefly highlights the key factors driving the market along with the factors challenging the market. Government initiatives to better manage medical waste, the growing active participation of NGOs in pharmaceutical waste management, and the increasing aging population are some of the factors that can be credited for the growth of the U.S. medical waste management market. Technological advancements and the growing pharmaceutical and healthcare industries will also contribute towards the growth of the market, state the analysts.
However, leading players will have to tackle the problem of high capital requirements, which are the primary factor restricting the growth of the U.S. medical waste management market. Currently, leading players are concentrating on using low quantity waste generators for managing medical waste. This is predicted to benefit the market for medical waste management in the U.S.
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Clean Harbors, Inc., Republic Services Inc., Sharps Compliance, Inc., Stericycle Inc., Suez Environmental Services, U.S. Ecology Inc., Veolia Environmental Services, and Waste Management Inc. are some of the key companies listed in the U.S. medical waste management market report.
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