The U.S. medical waste management market is anticipated to record a CAGR of 3% over the forecast period 2020-2027. Factors such as the need to manage hazardous, infectious and dangerous medical waste in the U.S., as these wastes impose a greater amount of threat to the public and the environment, is anticipated to contribute towards the growth of the U.S. medical waste management market. The U.S. is known to have the presence of several pharmaceutical and healthcare companies that produce residues and medical wastes and is also known to have the largest medical waste management accounts in North America. The U.S. Environmental Protection Agency estimated that 6 million tons of medical wastes was generated annually in the United States. Moreover, the treatment of these wastes is also governed by governmental regulatory bodies which have developed strict public laws, such as the Resource Conservation and Recovery Act (RCRA), that regulates the management of medical wastes generated by the healthcare facilities such as hospitals, clinics, nursing homes and pharmaceuticals among others.
The U.S. medical waste management market is further anticipated to attain an absolute $ opportunity of USD 1.17 billion in-between the year 2018 and 2027. The market is also anticipated to attain an incremental $ opportunity of USD 0.17 billion in the year 2027 as compared to the previous year by growing at a growth rate of 1.28x during the assessment period. Factors such as increasing incidences of chronic diseases, rising ageing population along with the expansion of the healthcare industry are anticipated to drive the growth of the U.S. medical waste management market. The growing aging population in the nation is highly prone to chronic diseases. The growing number of deaths caused by several diseases also contributes to the overall medical wastes and residues. Moreover, the treatment of chronic diseases as compared to other diseases, requires more time, which usually generates more amount of medical wastes from hospitals. Such factors are expected to drive the growth of the U.S. medical waste management market.
Some of the key industry leaders in the U.S. medical waste management market are Clean Harbors, Inc. and Stericycle. Apparently, several industry players are expanding their services in the medical waste management market and are working on launching such services in the nation in the upcoming years.
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