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Posted on August 11, 2021
The Demand for medical waste management is poised to expand steadily, growing at a CAGR of 5.1% across the forecast period (2020-2025).
As healthcare infrastructure has started to develop, the number of surgical procedures for treating various chronic and infectious diseases have also increased. This has necessitated the safe disposal of medical waste generated during the surgical process. Over the years, various governmental and non-governmental organizations have bolstered efforts to ensure proper management of medical waste.
However, medical waste management is an expensive process. The Centers of Medicare and Medicaid Services (CMS) project that healthcare spending shall increase by 5.6% across the forecast period. As a result, healthcare settings have been outsourcing their medical waste management services to third parties, thus broadening the scope of the market. The ongoing coronavirus pandemic is also anticipated to leverage the need for proper medical waste disposal to avoid the spread of infection within healthcare settings.
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“The medical waste management market is poised to gain traction across the forecast period, attributed to legal frameworks implemented for tackling medical waste. Key market players are capitalizing on their internal dynamics to provide efficient waste management solutions to potential clients,” says a Fact.MR analyst.
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The medical waste management market consists of the following prominent market players: Medical Waste Solutions, CLEAN HARBORS INC., Stericycle, Waste Management, Inc., Sharps Compliance, Inc., US Ecology, Inc., and Veolia. Besides these, there are other players, which are fragmenting the medical waste management market. Strengthening internal organizational structures to facilitate enhanced research and development on novel solutions determines the key players’ market presence. For instance, Stericycle is concentrating on the expansion of its Steri-Safe OSHA Compliance Program and sharps management services to promote organic growth.
Likewise, CLEAN HARBORS, INC., announced the launch of new facilities, expansion of business segments in new areas and products and services between 2013 and 2016. Its current services portfolio includes collection, transportation and logistics management with regard to medical waste, treatment and disposal, total project management and resource recovery & fuel blending.
The novel coronavirus pandemic has made medical waste disposal an even more critical need. With hundreds of new cases emerging every day, the amount of medical waste generated by hospitals, clinics, isolation wards, testing centers and homecare settings has also increased. As a result, governments have been issuing stringent guidelines regarding the disposal of medical waste in such a situation.
Measures such as using color-coded dustbins, double-layered bags and mandatory labelling have proven helpful in segregating medical waste and preventing the spread of infections. Moreover, it is anticipated that individuals will tread more carefully in the aftermath of the pandemic, making personal and community hygiene a top priority. This is anticipated to leverage the demand for medical waste disposal solutions in the forecast period.
For More Insights https://www.accesswire.com/636962/Will-Advanced-High-Steel-Demand-Recover-in-2021-Check-New-Report
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The Demand for medical waste management is poised to expand steadily, growing at a CAGR of 5.1% across the forecast period (2020-2025).
As healthcare infrastructure has started to develop, the number of surgical procedures for treating various chronic and infectious diseases have also increased. This has necessitated the safe disposal of medical waste generated during the surgical process. Over the years, various governmental and non-governmental organizations have bolstered efforts to ensure proper management of medical waste.
However, medical waste management is an expensive process. The Centers of Medicare and Medicaid Services (CMS) project that healthcare spending shall increase by 5.6% across the forecast period. As a result, healthcare settings have been outsourcing their medical waste management services to third parties, thus broadening the scope of the market. The ongoing coronavirus pandemic is also anticipated to leverage the need for proper medical waste disposal to avoid the spread of infection within healthcare settings.
To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=4804
“The medical waste management market is poised to gain traction across the forecast period, attributed to legal frameworks implemented for tackling medical waste. Key market players are capitalizing on their internal dynamics to provide efficient waste management solutions to potential clients,” says a Fact.MR analyst.
Get Customisation of this Report https://www.factmr.com/connectus/sample?flag=RC&rep_id=4804
Full Access of this Report Is Available At https://www.factmr.com/checkout/4804
The medical waste management market consists of the following prominent market players: Medical Waste Solutions, CLEAN HARBORS INC., Stericycle, Waste Management, Inc., Sharps Compliance, Inc., US Ecology, Inc., and Veolia. Besides these, there are other players, which are fragmenting the medical waste management market. Strengthening internal organizational structures to facilitate enhanced research and development on novel solutions determines the key players’ market presence. For instance, Stericycle is concentrating on the expansion of its Steri-Safe OSHA Compliance Program and sharps management services to promote organic growth.
Likewise, CLEAN HARBORS, INC., announced the launch of new facilities, expansion of business segments in new areas and products and services between 2013 and 2016. Its current services portfolio includes collection, transportation and logistics management with regard to medical waste, treatment and disposal, total project management and resource recovery & fuel blending.
The novel coronavirus pandemic has made medical waste disposal an even more critical need. With hundreds of new cases emerging every day, the amount of medical waste generated by hospitals, clinics, isolation wards, testing centers and homecare settings has also increased. As a result, governments have been issuing stringent guidelines regarding the disposal of medical waste in such a situation.
Measures such as using color-coded dustbins, double-layered bags and mandatory labelling have proven helpful in segregating medical waste and preventing the spread of infections. Moreover, it is anticipated that individuals will tread more carefully in the aftermath of the pandemic, making personal and community hygiene a top priority. This is anticipated to leverage the demand for medical waste disposal solutions in the forecast period.
For More Insights https://www.accesswire.com/636962/Will-Advanced-High-Steel-Demand-Recover-in-2021-Check-New-Report
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
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