San Jose, California (PRWEB) June 17, 2014
Follow us on LinkedIn – Growing number of hospitals and clinics worldwide has resulted in increased generation of medical waste. Medical waste management, under this scenario, is growing in popularity. Infectious and biohazardous medical waste requires proper disposal solutions to prevent potential health hazards. The global medical waste management industry continues to grow at a steady pace, primarily driven by the rising need for collecting, transporting, treating and disposing medical waste generated at hospitals and clinics. Aging population is one of the prime factors driving the market, as older people are more prone to illness and account for major share of inpatient hospital admissions and medical care. Against a backdrop of growing concerns over cross-infections, the widespread consumption of disposable medical products has also significantly increased the volume of medical waste generated.
Technology developments in the market are largely influenced by environmental issues. Incineration, autoclaving, chemical, and microwave technologies are the most widely used technologies for medical waste management. While technologies such as incineration and chemical processes pose significant environmental problems, microwave although safe entails high capital costs. Incineration technology is banned in countries such as the United States due to the strict emission laws in place. Newer technologies like Automated Guided Vehicle Systems (AGVS) are being commercialized to collect medical waste, in response to concerns over the risk of contamination through manual handling of medical waste. In addition, with rising energy costs and environment concerns, companies are looking to go green by installing waste treatment equipment at the site.
As stated by the new market research report on Medical Waste Management, the United States represents the largest market worldwide. Medical supplies and disposables are consumed in larger quantities in the country when compared to other Western European countries. Asia-Pacific, driven by improving healthcare infrastructure, increasing awareness and technological advancements, ranks as the fastest growing market with a CAGR of 5.8% over the analysis period.
Major players covered in the report include Bondtech Corporation, Gamma Waste Systems, Hawaii Bio-Waste Systems Inc., MedClean Technologies Inc., Stericycle Inc., Sterile Technology Industries Inc., Tempico Inc. and The Mark-Costello Co. among others.
The research report titled "Medical Waste Management: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The report analyzes the US market for medical waste management by the product service/ segments such as Management & Disposal Services, Collection Equipment. Liquid Medical Waste Management, and Treatment & Processing Supplies.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Medical_Waste_Management_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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