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Fior Markets launched a study titled “Global Pharmaceutical Waste Management Market by Nature of Waste (Hazardous Waste, Non-hazardous Waste), Type of Waste, Application, Region” and Global Forecast 2018-2025.

The global pharmaceutical waste management market is expected to reach USD 1,191.07 Million in 2017 to USD 1,980.31 Million by 2025 at a CAGR of 6.11%during the forecast period from 2018-2025.Increase in the geriatric population in developing economies, growth of the pharmaceutical industry and rise in government initiatives for safe disposal of unused medications are driving the growth of the market.

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The non-hazardous waste segment dominated the segment and was valued around USD 690.27 million in 2017

The nature of wastesegment is divided into hazardous waste, non-hazardous waste. The non-hazardous waste segment dominated the segment and was valued around USD 690.27 million in 2017. Increase in government awareness programs for safe and efficient pharmaceutical waste disposal in developing economies is expected to propel the segment during the forecast period.

The non-controlled prescription drugs segment held the largest market share of 43.37% in 2017

The type of wastesegment is classified into over the counter waste, non-controlled prescription drugs, controlled drugs, and hazardous drugs. The non-controlled prescription drugs segment held the largest market share of 43.37% in 2017. Increase in usage of prescription medication for treating high blood pressure, diabetes, and bacterial infections is expected to drive the segment growth.

The hospitals segment is expected to attain the highest CAGR of 8.19% in the forecast period

Application segment is divided into hospitals, pharmaceutical and biotechnology companies, clinics and physician offices, pharmacies. The hospitals segment is expected to attain the highest CAGR of 8.19% in the forecast period. Unused medications are disposed through hospitals and community pharmacies driving the growth of the segment.

Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North Americaregion dominated the marketand was valued around USD 571.20 Million in 2017. North America possesses huge market growth potential due to increasing prevalence of chronic diseases and implementation of pharmaceutical waste disposal regulations in the region are driving the growth of the market.

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Competitive Analysis:

Major industry players in the market include Stericycle, Waste Management, Inc., BioMedical Waste Solution, LLC, Daniels Health, Stryker, Covanta Holding Corporation, Cardinal Health, MedWaste Management Inc.,Veolia Environmental Services North America Corp, Suez Environment S.A, Clean Harbors Environmental Services, Republic Servicesand others.

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