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Pharmaceutical Waste Management Market - Growth, Trends, and Forecast (2020 - 2025)

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  • 111 Pages
  • January 2020
  • Region: Global
  • Mordor Intelligence
  • ID: 4896084
Market Overview

Pharmaceutical waste usually refers to unused or expired prescription pharmaceuticals. The expanding patient population, across the globe, is driving the growth of the pharmaceutical waste management market. The rising volume of waste, along with the increasing government initiatives for proper disposal of medications is driving the pharmaceuticals waste management market. Several federal bodies maintain laws concerning medical waste. These include the Occupational Safety and Health Administration (OSHA), the Centers for Disease Control (CDC), the U.S. Food and Drug Administration (FDA), and the Drug Enforcement Administration (DEA). The increasing awareness and initiatives by the government and private bodies, in collaboration with hospitals, boost the demand of this studied market.

However, the high cost associated with the disposal of pharmaceutical waste and reluctance in the adoption of new technologies is expected to restrain the growth of the global market in the forecast period.

Scope of the Report

As per the scope of the report, Pharmaceutical waste is any waste that contains drugs that are expired, unused, contaminated damaged or no longer needed.

Key Market Trends

Hospital Segment is Expected to Dominate the Market

Based on the waste generator, the market is segmented into Hospitals, Clinics, Pharmacies, and Others. The hospital segment is expected to dominate the market. The high growth is attributed to the growing number of hospitals and increased pharmaceuticals waste from the hospital, owing to increasing patient population base and a large number of unused medications and other pharmaceutical waste are disposed of by this medical facility in most of the developed economies. Hence, pharmaceutical waste management from these end-users is more important to be tackled and controlled.

North America leads the Pharmaceutical Waste Management Market

North America leads the pharmaceutical waste management market, owing to the presence of the highly developed healthcare sector and growing number of hospitals. According to American Hospital Association,as of 2019, there are around 6,210 hospitals in the United States. Moreover, the rising prevalence of infectious and chronic diseases requires medications and treatment, which is expected to produce a large number of by-products and residues leading to high growth of the segment.

Competitive Landscape

The leading players in the global market for pharmaceutical waste management are - BioMedical Waste Solution, Clean Harbors, Inc., Covanta Holding Corporation, Sharps Compliance, Inc., Stericycle, Suez SA, US Ecology, Inc., and Waste Management, Inc.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Government Initiatives for Proper Disposal of Medications
4.2.2 Rising Awareness Regarding Pharmaceuticals Waste
4.2.3 Expanding Patient Population
4.3 Market Restraints
4.3.1 High Cost Associated with Disposal of Pharmaceutical Waste
4.3.2 Reluctance in the Adoption of New Technologies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Type of Waste
5.1.1 Prescription Drugs
5.1.2 Over the Counter Waste
5.1.3 Others
5.2 By Waste Generator Type
5.2.1 Hospitals/Clinics
5.2.2 Biopharmaceutical Companies
5.2.3 Others
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 BioMedical Waste Solutions, LLC
6.1.2 Clean Harbors, Inc.
6.1.3 Covanta Holding Corporation
6.1.4 Sharps Compliance, Inc.
6.1.5 Stericycle
6.1.6 Suez SA
6.1.7 US Ecology, Inc.
6.1.8 Waste Management, Inc.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BioMedical Waste Solutions, LLC
  • Clean Harbors, Inc.
  • Covanta Holding Corporation
  • Sharps Compliance, Inc.
  • Stericycle
  • Suez SA
  • US Ecology, Inc.
  • Waste Management, Inc.