Pharmaceutical Waste Management Market Share, Future Trends, Growth Outlook, Analysis and Forecast | MRFR
Pharmaceutical Waste Management Market Highlights
Educating
consumers and healthcare professionals about appropriate pharmaceutical waste disposal methods can make a
significant impact on public health and the environment owing to which
healthcare professionals and pharmacists are initiating towards imparting
knowledge about the consequences of improper pharmaceutical waste disposal. The
pharmaceutical industry is one of the most profitable and fastest growing
industry and growth in the pharmaceutical industry is one of the preliminary
factors influencing the growth of the pharmaceutical waste management market.
Various regulatory agencies such Environmental protection Agency (EPA) have set
standards for pharmaceutical waste disposal, and the need to comply with such
regulatory standards have fuelled the growth of the global pharmaceutical waste
management market.
Pharmaceutical waste is a concern for all types of healthcare
facilities and is generated from pharmaceutical developers and manufacturers,
hospitals, individual physicians and from all those who are involved in the
healthcare system. Pharmaceutical wastes are hazardous and form a cause for
apprehension since they pose a severe threat to human, animal, and
environmental health.
According to the latest research report,
the global pharmaceutical waste management market size is predicted to grow USD
1590.62 Million at a compound rate of a CAGR of 5.95% from 2022-2030
Segmentation
The
global pharmaceutical waste management market research report has been segmented based on the nature of
waste, type of waste, and source of waste generation. By nature of waste,
the market has been segmented into hazardous pharmaceutical waste and
non-hazardous pharmaceutical waste.
By
type of waste, the market has been segmented into over-the-counter waste,
non-controlled prescription drugs, controlled drugs, and hazardous drugs.
By
source of waste generation, the market has been segmented into hospitals,
clinics & physicians' offices, pharmaceutical & biotechnology
companies, pharmacies, and others.
Regional
Analysis
North
America, Europe, Asia Pacific, and the Rest of the World are the key markets
for pharmaceutical waste generation. North America is one of the leading markets
for pharmaceutical waste management market share. North America has a huge market for
pharmaceutical companies and accounts for most pharmaceutical sales. Presence
of major pharmaceutical companies in the region also supports the growth of the
market. Europe market for pharmaceutical waste management is also strong owing
to the presence of many biotechnology companies and community pharmacies in the
region. Asia Pacific region is poised to showcase incremental growth over the
forecast period. Expanding pharmaceutical industry in the region coupled with
growing emphasis on pharmaceutical waste management is likely to contribute to
the growth of the Asia Pacific market.
Pharmaceutical Waste Management Market Players
The global
pharmaceutical waste management market is marked players are Stericycle,
Covanta Holding Corporation, Stryker, US Ecology, Inc., BioMedical Waste
Solution, LLC, Cardinal Health, Becton, Dickinson and Company, Daniels Health,
Sharps Compliance, Inc., and Waste Management, Inc.
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