Market Trends of Pharmaceutical Waste Management Industry
This section covers the major market trends shaping the Pharmaceutical Waste Management Market according to our research experts:
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.
