Stericycle, SUEZ., and Veolia are Dominating the Market for Global Medical Waste Management Market in 2017 Trends, Outlook 2017-2025
Global Medical Waste
Management Market will cross USD 29,644.80 million by 2025.
It was valued at USD 19,690.00 million in 2017. The market is growing at a CAGR
of 5.4% in the forecast period 2018 to 2025.
The
global medical waste management market is highly concentrated to a few big
players and rest to local players who cater to domestic markets only.
Stericycle
dominated the medical waste management market accounting for a highest market
share in 2017, followed by Veolia and SUEZ. Other players in this market include are
·
Clean Harbors Inc, Ltd.,
·
BioMedical Waste Solutions,
·
LLC, REMONDIS AG & Co. KG.,
·
Sharps Compliance, Inc.,
·
Waste Management, Inc.,
·
Daniels Sharps mart
·
and Triumvirate Environmental among others.
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Market Segmentation: Global Medical Waste Management Market
·
The global medical waste
management market is segmented based on type of waste into two notable
segments; hazardous waste and non-hazardous waste. In 2018, non-hazardous
segment is estimated to rule with 85.9% shares and will cross USD 25,645.52 million by 2025, rising
at the CAGR of 5.5%. Hazardous waste
is sub segmented into infectious & pathological waste, pharmaceutical
waste, sharps and others.
·
The global medical waste
management market is segmented based on service type into four notable
segments; collection, transportation and storage, treatment and disposal,
recycling and others. In 2018, collection, transportation and storage is
estimated to rule with 64.2% shares
and will cross USD 18,893.89 million by
2025, rising at the CAGR of 5.3%.
However, recycling is expected to grow at the highest CAGR of 6.1% in the forecast period, and is expected to reach USD 1,963.38 million in 2025 from USD 1,293.16 million in 2017
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Key Drivers: Global Medical Waste Management Market
The major factors
driving the growth of this market are rise in generation of healthcare waste,
growing healthcare industry, importance of medical waste management,
eco-friendly waste management procedures and growing government initiatives. On
the other hand lack of awareness about health hazards and lack of skilled
professionals for proper disposal may hinder the growth of the global medical
waste management market.
Key Points: Global Medical Waste Management Market
In 2017, the global
medical waste management market is dominated Stericycle by with market share of
25.4%, followed by Veolia 19.8%, and SUEZ 15.6%.
·
The infectious &
pathological waste segment is dominating the global medical waste management
market.
·
The collection,
transportation, & storage segment is expected to grow with the highest CAGR
of 6.1% in the forecast period 2018 to 2025.
STERICYCLE:
Stericycle
was instituted in 1989 and headquartered at Lake Forest, U.S. The company is
engaged in providing highly specialized solutions to the healthcare, retail,
and commercial businesses in the United States and globally. The company is
involved in collecting and processing of regulated and specialized waste for
disposal services.
The company’s operations span across 21
countries including United States, Canada, Ireland, the Netherlands, Spain, and the
United Kingdom (U.K.). It provides regulated services in Argentina, Brazil,
Chile, Japan, Mexico, Portugal, Republic of Korea and Romania. It has
subsidiaries namely- Stericycle International LLC (U.S.), Stericycle Return
Inc, (U.S.), Strong Environmental Inc, (U.S.), SRCL Ltd, (U.K.), Cardinal Group
Inc. (U.S.) and others.
Suez:
SUEZ was established in 2010 and
headquartered at Paris, France. The firm specializes in smart
and sustainable resource management. It provides water and waste management
solutions in order to optimize resource management and strengthen their
environmental and economic performances. The company operates in different
segments like; water Europe, recycling and recovery, international, WTS and
others.
SUEZ has a strong geographical presence in
Asia-Pacific, Europe, South America and others. some of company’s subsidiaries
are SUEZ North America (United States), Lyonnaise (France), Degrémont (France),
Agbar (Spain), SAFEGE (France) among others
Veolia:
Established in 1853 and headquartered at
Aubervilliers, France. Veolia is one of the global frontrunners in
optimized resource management.
The company offers solutions and services in Asia,
North America, Middle East and Africa and other regions. The subsidiaries of
company include valorec (Switzerland), Transdev Auckland (New Zealand), Veolia
Wasser (Germany), Veolia Water East (United Kingdom) among others.
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