Surgical Waste Management Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Surgical Waste Management Market: Snapshot
The global market for surgical waste management is gaining significantly from the technological advancements in surgical waste management devices in terms of technology. The increasing focus toward refurbishing the traditional surgical waste management devices with robot-assisted technology, thanks to the increasing trend of automation, is propelling this market, considerably. The technological advancements have augmented the efficacy and safety of devices, avoiding cross-contamination, which has transformed the waste management process to an automated process from a manual process. These technological advancements in surgical waste management devices are projected to propel the growth of the global market for surgical waste management in the years to come.
On the basis of the geography, North America has been leading this market and is anticipated to remain on the top over the next few years. The annual increase in the number of surgeries, owing to various factors such as the geriatric population, sports-related injuries, lifestyle changes, and accidents, is the main factor behind the growth of the North America market for surgical waste management. Also, various government organizations, such as the EPA, the CDC, and the OSHA are striving to increase the awareness about the need for surgical waste management, creating a positive impact, and encouraging a number of hospitals and ambulatory surgical centers to purchase waste management devices or avail the services of the vendors of surgical waste management solutions. This, in turn, is expected to boost the growth of the global market for surgical waste management over the next few years.
Global Surgical Waste Management Market: Overview
Waste disposal is a core issue in today’s industries, due to the increasingly negative impact that unsafe disposal creates on the environment and the overall quality of life. This applies especially to medical waste and surgical waste, where the latter can be responsible for the spread of diseases. Callous disposal of medical waste has also known to be responsible for the spreading of superbug infections as well as nosocomial infections, both of which are creating a high level of pressure on the healthcare industry in terms of treatment developments and options. As a result, the players in the global surgical waste management market need to not only adhere to the regional regulations they are based in, but also focus on the appropriate disposal of surgical waste so as to negate the chances of the spread of infections and diseases.
Global Surgical Waste Management Market: Key Trends
The global surgical waste management market is likely to be a promising venture for most types of players, due to the increasing importance given to safe disposal of medical waste by key countries. The market is also currently being driven by the influx of a large number of technological advancements that are making it easier and safer to dispose surgical waste. More and more governments and regulatory authorities are pushing the global surgical waste management market through increasingly stringent regulations, creating a major space of improvement for all players in the market. The overall market is therefore leaning towards the improvement of services and the addition of new services, while scrapping the more conventional ones. Increasing volumes of data related to infections and cross-contamination precautionary measures are also allowing companies to help prevent the spread of diseases through better waste management methods.
Global Surgical Waste Management Market: Market Potential
The rise of healthcare infrastructure across the world and especially in emerging economies is expected to create a certain boost in the requirement for advanced and safe medical and surgical waste management services. There are a large number of prominent players in this market so far, an a lot more are popping up in emerging economies. Clean Harbors, one of the leading entities in the global surgical waste management market, is currently on expansion mode after setting up facilities in locations such as Colfax. Players are also generating a greater awareness regarding the proper and safe disposal of surgical waste by informing readers and clients of the hazards of bacteria growth in medical waste the probabilities of generating and spreading superbug infections.
Mergers and acquisitions are also a key part of expansion in the global surgical waste management market. Stryker Corp., for instance, recently announced the acquisition of Cactus LLC, in a bid to providing their customers a wider array of controlled medical and surgical waste management services.
Global Surgical Waste Management Market: Regional Outlook
Asia Pacific is expected to show a very strong rate of growth in its activities in the global surgical waste management market, thanks to its booming healthcare industry. As medical options expand in number and in regional outreach, countries in the Asia Pacific regions – especially Japan, China, and India – are poised to be the next big thing in the global surgical waste management market and provide both global players and regional ones ample opportunities of growth over the coming years. Meanwhile, most of the leading players in the global surgical waste management market are housed in North America and Europe, where extremely stringent regulatory norms regarding medical waste disposal are pushing healthcare organizations to avail premium surgical waste management services.
Global Surgical Waste Management Market: Competitive Analysis
The highly competitive landscape of the global surgical waste management market is expected to grow even more intense in competition over the coming years, thanks to the swift rate of growth in demand. Leading players in the global surgical waste management market, such as Republic Services, Clean Harbors, Daniels Sharpsmart, Sharps Compliance, and Stericycle are expected to run into stronger competition from other prominent players such as Complete Medical Waste, USA Hazmat, AP Medical, and WasteXpress Environmental.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report