NEW YORK, Sept. 14, 2023 /PRNewswire/ — The medical waste management market size is expected to grow by USD 3.32 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 5.5% during the forecast period. The market is segmented by type (non-hazardous and hazardous), technique (offsite treatment and onsite treatment), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing healthcare industry drives the medical waste management market. Factors like the rise in the global population and increasing healthcare needs lead to a significant increase in healthcare activities. Healthcare providers implement stringent regulations related to medical waste management. This leads to an increase in the demand for effective medical waste management solutions. Also, there is an increased demand for these services due to various healthcare facilities outsourcing their medical waste management to specialized companies. Hence, such factors boost the growth of the medical waste management market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the medical waste management market: Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc., Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc.
- Medical Waste Management Market is fragmented in nature.
- Market to observe 5.0% YOY growth in 2023.
Market Dynamics:
Trend
- Advancement in technology is an emerging trend in the medical waste management market.
- Microwave technology and autoclaving are the development of innovative technologies, that increase the efficiency of medical waste management, reduce costs, and improve safety.
- Innovative technologies, including microwave technology, autoclaving, and chemical treatment, are being developed and adopted to improve the efficiency and safety of medical waste management.
- Hence, the rising adoption of advanced technology is expected to boost the growth of the global medical waste management market during the forecast period.
Challenge
- Lack of awareness challenges the growth of the medical waste management market.
- Healthcare providers and the general public lack awareness about the proper disposal of medical waste, which leads to improper disposal and potential health and environmental hazards.
- Also, the improper handling of hazardous waste by such staff can directly affect their health.
- Hence, such challenges impede market growth during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
The non-hazardous segment will be significant for market growth during the forecast period. The non-hazardous segment includes plastic packaging, clean glass and plastic, paper and cardboard, and office products. In order to reduce the risk of infections to humans, medical waste needs to be disposed of properly, increasing the demand for medical waste management. Hence, such factors boost the segment growth during the forecast period. Get a glance at the market contribution of the segments, Request a Free Sample report
Related Reports:
The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million.
The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion.
Medical Waste Management Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market growth 2023-2027 |
USD 3.32 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.0 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc., Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Technique
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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