Increasing technological advancements and rising generation of excess medical waste are expected to drive India bio-medical waste management market through 2024
According to TechSci Research report, “India Bio Medical Waste Management Market By Type of Waste, By Treatment, By Services, By Treatment Site, Competition, Forecast & Opportunities, 2024”, the India bio-medical waste management market is expected to grow at a CAGR of around 8% during the forecast period. Bio-medical waste management are witnessing adoption owing to the increasing volume of medical wastes generated and rising regulatory pressure to dispose of this waste in an eco-friendly manner. However, high initial investment, lack of awareness towards waste management & recycling, and lack of stringent regulatory measures of bio-medical waste management are likely to hamper the growth of the market during the forecast period.
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The India bio-medical waste management market is segmented based on type of waste, treatment, services, treatment site, region and company. Based on type of waste, the market can be divided into hazardous waste and non-hazardous waste. The non-hazardous waste segment dominates the market on account of the large quantity of non-hazardous medical waste generated. Based on treatment site, the market can be bifurcated into on-site and off-site. The off-site segment is expected to register the highest growth attributable to the high cost of on-site waste disposal and attractive packages offered by the leading service providers for off-site disposal.
Timarpur-Okhla Waste Management Company Pvt. Ltd., Biotic Waste Solution Pvt. Ltd., Mumbai Waste Management Ltd., Synergy Waste Management (P) Ltd., SMS Water Graca BMW Pvt. Ltd., GreenTech Environ Management Pvt. Ltd., Medicare Environmental Management Pvt. Ltd., Greenzen Bio Pvt. Ltd., SMS International Infrastructure Ltd., Ramky Enviro Engineers Limited and others are some of the leading players operating in India bio-medical waste management market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
“India bio-medical waste management market is expected to witness substantial growth during the forecast period. This can be attributed to the increasing regulatory pressure and growing awareness towards environment protection and safe waste disposal. Additionally, initiatives taken by several non-governmental organizations for proper waste management, government enforcements and improving standard of living of the population would further steer growth growth in India bio-medical waste management market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Bio-Medical Waste Management Market By Type of Waste, By Treatment, By Services, By Treatment Site, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Indian Bio-medical waste management market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India Bio-medical waste management market.
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