The global medical waste management market is expected to reach US$ 16,495.8 Mn in 2027 from US$ 10,563.2 Mn in 2018.
The prominent players in the medical waste management market focus on various growth strategies to enroot their presence and garner significant market share across the globe. Some of the notable players in the global medical waste management market include Medasend Biomedical, Inc, Bondtech Corporation, Sharps Compliance, Inc., Veolia, Clean Harbors, Inc., Daniels Sharpsmart, Inc., Stericycle, REMONDIS SE & Co. KG, Republic Services, Inc., and Waste Management, Inc. Away from mainstream and conventional products, the research-based devices are likely to make a significant improvement in terms of performance, ease of use, and other benefits. For instance, in 2016, Sharps Compliance Corp. launched the TakeAway Recycle System designed for the safe collection, return transportation and recycling of single-use medical devices.
Inorganic developments made by the companies that are operating in the medical waste management market have are acquisitions, agreements, and partnerships between companies. Companies such as Medasend Biomedical, Inc., Sharps Compliance, Inc., CLEAN HARBORS, INC., REMONDIS SE & Co. KG, and Waste Management, Inc. have been implementing various inorganic developments that have bought about dynamic improvements in the market they are operating. Due to the involvement of major players, which has led to the availability of better services and products in the market.
For instance, in April 2019, Waste Management, Inc. acquired Advanced Disposal Services, Inc. that allows waste management to deliver to Advanced Disposal customer’s unparalleled access to differentiated, sustainable waste management and recycling services. Moreover, in February 2015, Clean Harbors, Inc. and Nuverra Environmental Solutions, Inc. signed an agreement to acquire Nuverra’s subsidiary Thermo Fluids Inc. Similar small and large level partnerships, and acquisition are expected to generate turbulence and act as growth boosters in the global medical waste management market.