Medical Waste Management Market Worth $17.02 billion by 2030
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Meticulous
Research®—a leading global market research
company, published a research report titled ‘Medical Waste Management Market by Waste
Type (Non-Hazardous, Infectious, Sharps, Pharmaceutical), Service (Collection,
Treatment & Disposal [Incineration, Autoclaving], Recycling), Treatment
Site (Off-site, On-site), Source - Global Forecast to 2030’.
Download Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5350
According
to this latest publication from Meticulous Research®, the global medical waste
management market is projected to reach $17.02 billion by 2030, at a CAGR of
5.4% from 2023 to 2030. Factors driving this market's growth include the
increased volume of medical waste generated globally, stringent regulations
for medical waste management, and the growing number of surgical procedures.
Additionally, the growing utilization of single-use devices and emerging
economies offer opportunities for market growth. However, the lack of
standardized regulations for medical waste management is restraining the
market growth. Additionally, a lack of awareness regarding medical waste
management in developing countries challenges market growth.
The global
medical waste management market is segmented by waste type (non-hazardous
waste, hazardous waste [infectious & pathological waste, pharmaceutical
waste, sharps waste, and other hazardous waste]), services (collection,
transportation, & storage, treatment & disposal services
[incineration, autoclaving, chemical treatment, and other treatment &
disposal services], and recycling), treatment site (off-site treatment,
on-site treatment) source (hospitals & clinics, diagnostic laboratories,
research laboratories, blood banks, and other sources) and geography. The
study also includes an analysis of the regional and country-level markets.
Based on waste type, in 2023, the
non-hazardous waste segment is expected to account for the larger share of the
global medical waste management market. The non-hazardous medical does not
pose any biological, chemical, radioactive or physical hazard. The large
market share of this segment is mainly attributed to a large number of
healthcare facilities globally, an increase in the number of surgical
procedures, and government initiatives to promote proper medical waste
management.
Based on services, in 2023, the
collection, transportation, and storage segment is expected to account for the
largest share of the global medical waste management market. There is a large
demand for medical waste collection, transportation, and storage services due to
issues faced by healthcare facilities in terms of proper transportation and
packaging of non-hazardous and hazardous medical waste. Furthermore, the large
volume of medical waste across medical facilities globally generates the
demand for medical waste collection, transportation, and storage services.
Based on treatment site, in 2023, the
off-site treatment segment is expected to account for the largest share of the
global medical waste management market. The large market share of this segment
is attributed to the technological advancement in waste management and advantages
offered by off-site treatment, such as a reduction in the volume and weight of
medical waste.
Based on source, in 2023, the
hospitals & clinics segment is expected to account for the largest share
of the global medical waste management market. The large market share of this
segment is attributed to a large volume of medical waste generated by
hospitals and government initiatives to promote proper medical waste
management for hospitals.
This
research report analyzes major geographies and provides a comprehensive
analysis of North America (U.S., Canada), Europe (Germany, France, U.K.,
Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India,
Australia, and Rest of Asia-Pacific), Latin America (Brazil and Mexico), and
the Middle East & Africa. Based on geography, in 2023, North America is
expected to account for the largest share of the global medical waste
management market. The large share of this region is mainly attributed to a
large volume of medical waste generated, high healthcare expenditures, and
government initiatives to raise awareness regarding proper medical waste
disposal.
Key
Players
Key
companies operating in the global medical waste management market are
Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels
Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA
(France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma
Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), and GIC Medical
Disposal, Inc. (Canada).
About Meticulous Research®
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and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private
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