According to the research report titled ‘Asia Pacific Medical Waste Management Market Size By Type of Waste, Service, Waste Generator, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, Asia Pacific medical waste management market is projected to cross a valuation of USD 3.9 billion by the year 2026.
 

Increasing government initiatives for waste management and growing necessity for appropriate and safe handling of biomedical waste are the major factors driving the growth of Asia Pacific medical waste management market size. However, lack of awareness pertaining to the health hazards linked with medical waste coupled with dearth of skilled healthcare professionals may negatively impact the industry growth over the forecast period, cites the study.
 

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For the uninitiated, biomedical waste comprises several infectious components, generated by healthcare facilities such as research centers, blood banks, and hospitals. Lately, several organizations have adhered to numerous guidelines and compliances for reducing the spread of infections.
 

Based on type of waste, Asia Pacific medical waste management market is spit into non-hazardous and hazardous biomedical waste, among which, the former segment was worth USD 1.5 billion in 2019. Non-hazardous medical waste, also known as non-regulated medical waste, does not inculcate any biological, radioactive, and physical danger. WHO has classified animal tissues and non-contaminated equipment under the non-hazardous category. Wide product offerings by several providers in APAC for accurately disposing medical waste without any harm supports the segment growth.
 

In terms of services, Asia Pacific medical waste management market is fragmented into collection, transportation, & storage services, treatment, and disposable services, and others. Treatment and disposable services segment represented 25% revenue share in 2019 and is further split into autoclaving, incineration, microwaving, and others. Of these, incineration segment boasts of a strong demand in APAC, as it is earliest and reliable method for detecting and treating pathological waste.
 

Moving on to end-use spectrum, the industry is categorized into laboratories and research centers, hospitals, nursing homes, and others. The others segment comprising healthcare settings such as mortuary & autopsy centers, and blood banks witnessed a growth rate of 9.5% in the recent past. Upsurge in medical waste from emergency care clinics and dental offices along with availability of advanced technologies in these settings boost the Asia Pacific medical waste management industry share from this segment.
 

On the geographical front, India medical waste management market size is slated to expand with a CAGR of 8.5% through 2027. Increasing measures for ensuring precise storage and collection of biomedical waste to curb the spread of infectious diseases in tandem several favorable government directives & regulations are contributing to the market expansion in India.
 

Leading players impacting Asia Pacific medical waste management market trends are Triumvirate Environmental, GIC Medical Disposal, Republic Services, Veolia, SUEZ, Stericycle, Daniels Health, and Clean Harbors.