Global Medical Waste Management Industry Analysis and Future Scope
As the number of patients is increasing, along with the growth of the healthcare and pharmaceutical industries, the volume of medical waste is surging as well all across the globe. In developing countries specifically, the volume of medical waste, such as photochemical, cytostatic, infectious, & pathological waste, biological safety cabinets, old X-ray films, chemicals, solvents, old medicines, and slides/paraffin blocks, is extremely high. Moreover, the regulations regarding disposing these wastes are quite strict and state and local regulations comply with labelling, containment, storage, transportation, and treatment of medical waste in a proper manner.
Owing to these factors, the demand for advanced medical waste management technologies is growing swiftly. Poor waste management, when it comes to medical waste, can put staff and employee care at risk and can further affect their patients, families, and neighboring population. Of not managed properly, medical waste can also cause environmental contamination. As per a report by P&S Intelligence, the global medical waste management market is expected to register substantial growth in the near future because of the above mentioned factors.
Medical waste is of two types, namely hazardous and non-hazardous, between which, the demand for medical waste management was higher for non-hazardous waste in the past. Medical waste can be treated chemically, by incineration, and autoclaving. Out of these, the demand for incineration treatment types was the highest in the past, which can be accounted to the fact that this method of medical waste treatment in easy and cost-efficient. Services that are included under medical waste management offerings are treatment & disposal, collection, recycling, and transportation & disposal. When geography is taken into consideration, North America made the most use of medical waste management services and solutions in the past.
In conclusion, the demand for medical waste management technologies is increasing because of the need for proper disposal of surging waste volume from healthcare and pharmaceutical industries.
