Market Size of Pharmaceutical Waste Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pharmaceutical Waste Management Market Analysis
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.
