PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252673
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252673
Medical Waste Management Market size was valued at USD 10,008.3 Million in 2022, expanding at a CAGR of 6.6% from 2023 to 2030.
Medical waste management refers to the process of handling, disposing, and managing the waste generated by healthcare facilities, such as hospitals, clinics, laboratories, and nursing homes. Medical waste includes any materials that are generated during healthcare activities that may be contaminated with bodily fluids, blood, or other potentially infectious materials.
The medical waste management market is driven by the increasing number of healthcare facilities, such as hospitals, clinics, and diagnostic laboratories, due to the growing global population and increasing prevalence of chronic diseases. Further, governments across the world have implemented stringent regulations to ensure safe and proper medical waste management. These regulations require healthcare facilities to implement proper waste management practices, leading to increased demand for medical waste management services. The initiatives taken by the governments of different countries are also propelling the growth of the market. For instance, in August 2021, the Indian government virtually inaugurated a decentralized biomedical waste incinerator at Buxar Municipality, Bihar.
Furthermore, healthcare workers are at high risk of exposure to hazardous medical waste, leading to occupational health and safety concerns. Proper medical waste management practices are crucial to protect the health and safety of healthcare workers, driving the demand for medical waste management services. Moreover, technological advancements in medical waste management, such as automation and digitization, are driving market growth. These advancements are improving the efficiency and effectiveness of medical waste management processes and reducing costs. Thus, rising concern for environmental pollution, stringent government regulations, increasing focus on occupational health and safety are contributing to market growth.
The Global Medical Waste Management Market is segmented on the basis of Type, Treatment, Service, and Region.
The market is divided into two categories based on Type: non-hazardous waste and hazardous waste. The non-hazardous waste segment dominates the market. The increasing amount of waste from healthcare sector is mainly contributing to segment growth.
The market is divided into four categories based on Treatment: incineration, autoclaving, chemical treatment, and others. The chemical treatment segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the chemical waste from medical industry.
The market is divided into five categories based on Service: collection, transportation and storage, treatment and disposal, recycling, and others. The treatment and disposal segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increasing demand for medical waste management in hospitals and other healthcare centers.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America held the largest market share in 2021 and is projected to continue its dominance during the forecast period. The rising demand for medical waste management in healthcare sector is contributing to market growth.
Due to the constant development in medical waste management market in the coming years, the worldwide market for medical waste management is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Product makers compete on a variety of aspects, including Type costs, performance, product making, Service, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Type launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in February 2022, Envetec Sustainable Technologies Limited launched its GENERATIONS technology for biohazardous waste management.
This proposed research study on Medical Waste Management market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Medical Waste Management market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Medical Waste Management market
Impact of COVID-19 on Medical Waste Management market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Medical Waste Management market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Medical Waste Management market, we have also included competitive landscape and key innovator analysis for the Medical Waste Management market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Medical Waste Management market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Medical Waste Management market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
Stericycle, Inc.
Waste Management, Inc.
Veolia Environmental Services
Suez Environment S.A.
Clean Harbors, Inc.
Republic Services, Inc.
BioMedical Waste Solutions, LLC
Daniels Health
Sharps Compliance, Inc.
MedPro Disposal
EPCO, Inc.
GIC Medical Disposal
Secure Waste, Inc.
Biomedical Recovery Systems, Inc.
Medical Waste Management, Inc.
Non-hazardous waste
Hazardous waste
GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT
Incineration,
Autoclaving
Chemical Treatment
Others
GLOBAL MEDICAL WASTE MANAGEMENT MARKET, BY SERVICE
Collection
Transportation and Storage
Treatment and Disposal
Recycling
Others
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA