Global Medical Waste Disposal Systems Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Medical Waste Disposal Systems Market” is the title of an upcoming report at Trusted Business Insights. The report provides insights and information into details of revenues, investments, R&D, sales, market leaders etc. The report comprises other information, such as the various trends, drivers, restraints, opportunities, and threats, along with historical and projected revenues. The company profile section of the report contains details such as date of establishment, current CEO name, location and headquarters, employee headcount, revenues, technological innovations, recent and key developments, strategies, acquisitions and mergers, and market footprint of the top players in the global medical waste disposal systems market. The global medical waste disposal systems market is segmented according to product type, medical waste type, waste generator, and region. The report is further segmented country-wise to enable a deep study and presentation of the findings and information.

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Overview:

Medical waste disposal systems are equipment and devices used for disposal or recycling of medical waste generated by hospitals, clinics, laboratories, etc. in order to reduce the hazards and spread of potential viruses and diseases. Efficient and safe disposal also ensures safety of medical and other personnel at the workplace, as well as ensures safety of the environment to some extent. Medical waste can be anything that contains blood, bodily fluids, used dressing and related materials, or other potentially infectious materials (OPIMs) among others. Materials also included are those that may be contaminated, including semi-liquid or liquids, sharps contaminated with OPIM or blood, pathological or microbiological wastes, etc. Disposal of medical waste is among some of the major challenges across the healthcare sector.

Dynamics

Growing awareness regarding safety and disposal of medical waste and increasing prevalence of surgeries and infectious diseases are among some of the major factors expected to drive demand for medical waste disposal systems globally. The urgent need of the hour following the outbreak of the Novel Coronavirus (COVID-19), which is believed to have started in Wuhan, China in December 2019, is efficient, effective, and safe disposal of medical waste. Medical device and equipment manufacturers are racing to develop and introduce more efficient and effective medical waste systems and technologies with the rate and outbreaks becoming more regular in the past two decades. Companies are also improving on existing technologies, and due to rapidly advancing technologies and new and more beneficial materials and regulations, development of more advanced medical waste disposal systems are in the pipeline. For instance, Northwell Health in the US has adopted Technopath Clinical Diagnostics’ Envetec 200 system in order to safely neutralize infectious medical waste and reduce the spread of Coronavirus (Covid-19). The above-mentioned developments and progress are among some of the major factors expected to drive growth of the global medical waste disposal systems market to a significant extent over the next five years. Increasing healthcare expenditure and government initiatives is another factor expected to augment growth of the global medical waste disposal systems market. Increasing demand for incinerator systems owing to easy and cost-effective disposal is among some of the other factors expected to propel growth of the global medical waste disposal systems market. However, a factor that can impede growth of the target market to a certain extent, is that the incineration process results in significant gas emissions, which can have a negative impact on the market.

Market Segmentation:

By Product Type: Among the product type segments, the incineration segment is expected to register major share in the target market in terms of revenue and the trend is expected to continue in the coming years.

By Medical Waste Type: Among the medical waste type segments, revenue from the infectious segment is projected to grow at a rapid rate in the coming years owing to COVID-19 outbreak and need for more efforts and equipment to ensure medical waste is disposed-off safely and efficiently.

By Waste Generator: Among the waste generator segments, the hospital segment is expected to account for major revenue share and projected to maintain its dominance over the forecast period. This can be attributed to increasing prevalence of chronic diseases, prevalence of cancers, diabetes, tuberculosis, infectious diseases, and rising number of surgeries and treatment.

Regional Analysis:

North America market is projected to account for major revenue share in the target market owing to major base of patients, and well-developed healthcare sector and government initiatives in countries in the region. The market in Asia Pacific is projected to register fastest revenue growth rate in the coming years owing to growing concerns pertaining to health and safety of healthcare personnel in countries such as China, Japan, India, and others. The global medical waste disposal system market is projected to register substantial growth in Q1 and Q2, with steady support for the rest of 2020 coming in in the form of new developments in the market to prepare for further outbreaks and potential virus infections.

Global Medical Waste Disposal Systems Market Segmentation:

By Product Type

Incineration
Autoclaving
Chemical Treatment
Other Product Types

By Medical Waste Type

Infectious
Chemical
Pathological
Pharmaceutical
Radioactive
Other Medical Waste Types

By Waste Generator

Hospitals
Laboratories
Blood Banks
Clinics
Other Waste Generators