Medical Waste Management Equipment Market Research Report -Forecast till 2027

Medical Waste Management Equipment Market Research Report: Information by Waste Type (Hazardous Waste, Non-Hazardous Waste and others), Equipment Type (Sorting Equipment, Disposal & Processing Equipment, Treatment Equipment and others), Site (Off-Site and On-Site), End User (Hospitals and Clinics, Medical Research Institutes, Blood Banks and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027

Q: What are the major tailwinds pushing the growth of the global medical waste management equipment market?

Rising rate of treatment procedures.. Read More

ID: MRFR/MED/1420-HCR | February 2021 | Region: Global | 105 pages

Medical Waste Management Equipment Market Overview

The medical waste management equipment market is anticipated to grow substantially in the years to come. The medical waste managing equipment market value is expected to grow at a CAGR (Compound Annual Growth Rate) of about 5.1%. The increased incidence of illnesses and the number of patients are the primary causes of the increase in medical waste, which drives the waste management market expansion.

Waste management refers to gathering, transporting, removing, supervising, and recycling used medical products in its broadest sense. The population may produce medical waste due to many activities such as diagnosis, treatment (such as surgery), and prevention of illnesses. We must treat the germs and harmful substances that form during various medical procedures. Medical waste management equipment transforms infected, polluted, and dangerous medical waste into safe, reusable products or resources.

Covid-19 Analysis

With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The medical waste managing devices market saw a slight downfall post the pandemic due to the lockdown and physical distancing.

However, the key companies have adopted measures to expand the distribution of waste management equipment across the globe. Moreover, people are growing aware of the harmful effects of medical waste and the need for effective waste management. Hence, these factors are expected to boost the medical waste management equipment market value in the years to come.

Market Dynamics

Drivers

A few factors may drive the growth of the medical waste management equipment market share. The expanding number of healthcare facilities is one of the reasons driving the development of the global medical waste management market. Research in the biological sciences, pharmaceuticals, and chemicals also increases the demand for medical waste management systems. Wastes that cause mercury or dioxin contamination are hazardous to the environment. Their disposal is one of the primary needs for waste management. Hence, these factors are expected to fuel the global market growth.

Opportunities

The global need for medical waste management equipment is increasing due to the pandemic. This waste managing equipment ensures that all medical waste is processed properly at various treatment plants. Also, governments are taking the initiative and developing treatments and acceptable means of medical waste disposal, which is required for environmental safety.

Medical waste management is also necessary to keep the hospital facilities clean since filthy surroundings may impact medical personnel and patients, making them prone to new infections. Hence, these factors help provide opportunities for market growth in the medical waste management equipment market forecast.

Restraints

There are a few factors that may inhibit the medical waste management equipment market growth. One of the most important of them is the high cost of the equipment. The waste recycling into various products may render a few side effects in the long run.

Challenges

Some factors that may challenge the key waste management providers include the cost of the equipment. Moreover, there is a lack of healthcare infrastructure in many places. The population may also not be aware of the need for medical waste management. Hence, these factors challenge the key players of the global market.

Cumulative Growth Analysis

Value Chain Analysis

The medical waste management equipment market growth is being driven by causes such as the growing urban population. Rapid urbanization and increasing population are also contributing to an increase in waste generation. For example, according to a World Bank report published in September 2018, worldwide waste generation is predicted to reach 3.4 billion tons over the next 30 years. Also, the growing urban population adds to the global expansion of waste management equipment. Most of the top global waste management equipment manufacturers are focused on new product launches and procurements.

Segment Overview

The global medical waste management equipment market is classified into many segments such as equipment types, waste types, site, and end-user. Listed below are the medical waste management apparatus market segments:

By Equipment types

Disposal & Processing equipment

Precipitators

Combustors

Crushers

Others

Sorting equipment

Balers

Shredders

Others

Treatment equipment

Microwave

Autoclave

Others

Others

By Waste types

Non-hazardous waste

Hazardous waste

Infectious and Pathological Waste

Pharmaceutical Waste

Others

By Site

On-site

Off-site

By End-user

Medical research institutes

Hospitals & clinics

Blood banks

Others

Regional Analysis

The regional division of the medical waste management equipment market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. Because of rising per capita healthcare expenditures and rapid adoption of new technologies in the area, the market in the Americas is likely to dominate the medical waste management equipment market.

The European market is also likely to expand significantly. This is due to a well-established healthcare system, a growth in chronic illnesses, and significant corporations in the region. According to the World Health Organization (WHO), healthcare operations' total trash is around 85 percent general waste and 15 percent hazardous waste. Hence, this is anticipated to drive market growth in the region.

Because of the rising patient pool and increasing government initiatives for healthcare reforms, the Asia-Pacific market is expected to develop at a stable rate throughout the forecast period. Due to the region's low per capita disposable income, the Middle East and Africa market is expected to account for the smallest proportion of the market.

Competitive Landscape

The medical waste management equipment industry is dominated by a few companies that play a vital role in the market growth. These heart catheter companies are called key companies of the market. They contribute to the largest share of the market profit.

The companies account for the market profits by adopting various medical waste management equipment market trends such as joint ventures, product launches, company expansions, and procurements. They offer innovative equipment options for medical waste management.

Key Players

Below are the key companies that offer medical waste management equipment in the global market:

ARVS Equipment Private Limited

Bondtech Corporation

Prometic Life Sciences Inc.

Chongqing Gient Heating Industry Co. Ltd.

Steelco S.p.A

Hydroclave

AMB Ecosteryl

Medicinova

Bertin

Merck & Co. Inc.

Novartis AG

Recent Developments

Tadweer, Abu Dhabi Waste Management Center, introduced mobile medical waste incinerators ranging from 150-300 kg per hour in May 2020. The new equipment can process medical waste at temperatures as high as 1200 degrees Fahrenheit and is outfitted with cutting-edge filtration technologies to keep the environment clean and safe. The kit also guarantees that all Covid-19-related trash is correctly processed at various treatment facilities.

Avis Industrial Corp. purchased IPS Balers Inc. in August 2014. The company manufactures plastics and mixed fiber balers. Due to the procurement, IPS becomes Avis Industrial Corp.'s third baler company.

Report Overview

This report delivers all the information about the global medical waste management equipment market's growth in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected medical waste management equipment market outlook by the year 2025.

Geographically

Europe

Asia-Pacific

North America

Middle East & Africa

Rest of the world

Report Scope:

Report Attribute/Metric	Details
Market Size	2027: Significant Value
CAGR	5.1% CAGR (2019-2025)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	by Waste Type, Equipment Type, Site
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	AMB Ecosteryl, ARVS Equipments Private Limited, Steelco S.p.A., Bertin, Bondtech Corporation, Hydroclave, Chongqing Gient Heating Industry Co., Ltd., Novartis AG, Medicinova, Inc., Merck & Co., Inc., and Prometic Life Sciences Inc.
Key Market Opportunities	Rising expenditure rate in healthcare and treatment, and the rising prevalence of communicable diseases. \r\n The rising prevalence of diseases and number of patients are the major cause of the increase in medical waste, and therefore it drives the growth of the market.
Key Market Drivers	The market in Europe is expected to show a considerable amount of growth.

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Frequently Asked Questions (FAQ) :

At what CAGR is the global medical waste management equipment market projected to grow during the forecast period (2019-2025)?

The global medical waste management equipment market is expected to register over 5.1% CAGR over the assessment period (2019-2025).

What are the major tailwinds pushing the growth of the global medical waste management equipment market?

Rising rate of treatment procedures.

Which region holds the largest share in the global medical waste management equipment market?

North America holds the largest share in the global medical waste management equipment market followed by Europe and Asia Pacific, respectively.

Who are the top players in the global medical waste management equipment market?

ARVS Equipments Private Limited, AMB Ecosteryl, Steelco S.p.A., Bondtech Corporation, Bertin, Hydroclave, Novartis AG, Chongqing Gient Heating Industry Co., Ltd., Medicinova, Inc., Prometic Life Sciences Inc., and Merck & Co., Inc., are some of the major players operating in the global medical waste management equipment market.

What are the key growth strategies of medical waste management equipment industry players?

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global medical waste management equipment market adopt to gain a larger competitive advantage.

Table of Contents

Chapter 1. Executive Summary

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Overview

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.2.1 R&D and Designing

5.2.2 Manufacturing

5.2.3 Distribution & Sales

5.2.4 Post-Sales Review

Chapter 6. Global Medical Waste Management Equipment Market, by Waste Type

6.1 Overview

6.2 Hazardous Waste

6.2.1 Infectious and Pathological Waste

Market Estimates & Forecast, by Region, 2020-2027