Medical Waste Management Market Size, Share, Segment Analysis, Growth Drivers and Forecast to 2023

Medical waste refers to the waste originated within medical amenities such as hospitals, clinics, veterinary hospitals/clinics, dental practices, physician's offices, laboratories, blood banks and research and development centers (R&D) related to healthcare.The medical waste management program is critical for the public health, environment, and sanitation. Unlike municipal waste treatment the medical waste management involves various stages of waste management, such as accumulation, generation, storage, handling, treatment, transport, and disposal.

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High investment of initial setup coupled with lack of industrial recycling facilities specially in developing reason are some of the common factors restraining the growth of the medical waste treatment market. Moreover the lack of awareness towards waste management and recycling and lack of regulatory measures by the government in the developing market is hindering the growth of the medical waste treatment market especially in the developing market. However country such as India, China, and Malaysia are expected to witness a considerable growth in the forecast period attributed to rising medical tourism in this region.

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Europe and North America are the major market for medical waste treatment attributed to the stringent environmental and patient’s safety regulations in the region. Asia Pacific market for the medical waste treatment is growing at a significant rate. The strengthening healthcare infrastructure and increasing expenditure of Hospitals towards the waste management is driving the medical waste treatment market in Asia Pacific. Apart from these Latin America and Middle-East are other important markets of medical waste treatment market. Country wise, The U.S. is largest market of medical waste treatment in North America. Germany, U.K., France, Italy are some of the major medical waste treatment market in Europe. India, Japan, and China are major medical waste treatment market in Asia Pacific, where as Brazil is the largest market of medical waste treatment in Rest of the World region.

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