Pharmaceutical Waste Management Market: Asia Pacific Market to Register Exponential Growth

Transparency Market Research (TMR) has published a new report titled, “Pharmaceutical Waste Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global pharmaceutical waste management market was valued at US$ 1,018.2 Mn in 2017 and is anticipated expand at a CAGR of 5.4% from 2018 to 2026. Growth of the pharmaceutical industry, government initiatives, increase in health care expenditure, and rise in awareness are likely to fuel the global pharmaceutical waste management market from 2018 to 2026.

 Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=50181

Increase in Government Initiatives to Propel Market

Pharmaceutical waste management is a critical issue across the world. In order to ensure safety from hazardous waste, several government organizations such as the Food and Drug Administration (FDA), the Environment Protection Agency (EPA), and the Drug Enforcement Administration (DEA) have introduced various programs for proper waste disposal. For instance, in April 2016, the Drug Enforcement Administration (DEA) hosted the 11th National Prescription Drug Take-back Day. The program was aimed at providing a safe and convenient means of disposal of unwanted, controlled substance prescription drugs.

 Request for Analysis of COVID-19 Impact on Pharmaceutical Waste Management Market –

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=50181

Rapidly Growing Health Care and Pharmaceutical Industries

Factors such as rapidly growing health care sector in developed and developing economies, rise in research and development activities for the discovery of new pharmaceutical molecules for treatment of chronic diseases, and rapidly growing pharmaceutical industries across the world drive demand for pharmaceutical waste management. According to the Environmental Protection Agency (EPA), the U.S. is the leading producer of medical waste in the world. Increase in number of community pharmacies in Europe is expected to drive the pharmaceutical waste management market during the forecast period as all unused medication are returned to local community pharmacies for disposal. According to reports published in 2016, there are approximately 160,000 community pharmacies in Europe.

 Buy Pharmaceutical Waste Management Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=50181&ltype=S

High Cost of Disposal of Pharmaceutical Waste to Restrain Market

The cost of pharmaceutical waste disposal in higher than the cost of manufacture in many developed and developing countries. Factors such as high cost required to build the facility, cost of land for dumping the waste, expensive waste collection vehicles, and equipment used for disposal of pharmaceutical waste restrain the growth of the pharmaceutical waste management market.

Asia Pacific Market to Register Exponential Growth

In terms of revenue, the pharmaceutical waste management market in Asia Pacific is projected to expand at a CAGR of 5.9% during the forecast period. Rapidly aging population in the region is expected to boost demand for pharmaceuticals for the treatment of various diseases, which in turn is likely to fuel the growth of the pharmaceutical waste management market during the forecast period. According to the United Nations, China’s geriatric population is projected to double from 10% to 20% between 2017 and 2037, and estimated to reach 44% by 2050.

 Top of Form

 Ask for Discount :

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=50181

Stericycle, Waste Management, Inc., and Sharps Compliance, Inc. to Lead Market

The report also provides profiles of leading players operating in the global pharmaceutical waste management market. These include Stericycle, Waste Management, Inc., BioMedical Waste Solution, LLC, Daniels Health, Stryker, Covanta Holding Corporation, and Cardinal Health. Increase in merger & acquisition, strategic collaborations, and new product launches for pharmaceutical waste disposal are expected to drive the global market during the forecast period. On April 2017, Stryker announced the acquisition of Cactus, LLC, a manufacturer of Smart Sink, Pharma Lock, and Pharma Lock OR controlled substance waste management systems.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY - 12207

United States

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

Back to news