What is the global market size of Medical Waste Management Market?

Global Medical Waste Management Market size was valued at USD 6 billion in 2021 and is poised to grow from USD 6.31 billion in 2022 to USD 9.39 billion by 2030, growing at a CAGR of 5.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Medical Waste Management Market?

Information of each player may be obtained in the competitive landscape for the medical waste management industry. A business overview, financials, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance are all included in the data. In the data points above, only the companies' emphasis on the medical waste management market is informed. 'Biomedical Waste Solutions, LLC (U.S.),', ' Stericycle, Inc. ', ' Waste Management, Inc. ', ' Veolia Environnement S.A. ', ' Clean Harbors, Inc. ', ' Republic Services, Inc. ', ' Daniels Health ', ' Suez Environnement S.A. ', ' Sharps Compliance, Inc. ', ' REMONDIS SE & Co. KG ', ' GRP & Associates, Inc. ', ' MedPro Disposal ', ' Cleanway Environmental Services ', ' EPCO, Inc. ', ' Gamma Waste Systems, Inc. ', ' GIC Medical Disposal ', ' Healthcare Environmental Services Group ', ' Medasend Biomedical, Inc. ', ' United Medical Waste Management ', ' Medical Waste Management, Inc. '.

What is the key driver of Global Medical Waste Management Market?

Healthcare waste is any waste produced by healthcare facilities, biomedical research facilities, healthcare facilities, medical laboratories, and minor or dispersed sources. Hospitals globally produce about 0.5 kg of waste per bed each day, as according research on waste production. However, depending on the local context, higher-income countries produce far more waste than for other countries.

What is the key market trend for Global Medical Waste Management Market?

Although it is the most common and widely used method of disposal, burning medical waste is not environmentally safe as it increases global warming, so the incineration segment is expected to account for a significant part of the market. In the coming future, factors like convenience and lower capital costs are likely to drive this segment's growth. The introduction of new companies and government efforts are also anticipated to accelerate the market segment's growth. For instance, the Indian government opened a facility in August 2021 for the disposal of biomedical waste in Buxar Municipality, Bihar, India. This facility has the capacity to process 50 kg of biomedical waste per hour that is made of cotton, plastic, or other similar materials. The market segment is thus expected to grow over the course of the forecast period as a result of the factors listed.

Which region accounted for the largest share in Global Medical Waste Management Market?

Based on regional analysis, the North American market, especially the U.S. and Canada, had the greatest revenue share in the global market t. This is because of the region's rapidly growing healthcare industry. About 19.7% of the nation’s Gdp will be spent on healthcare in 2020, making it one of the largest industries in the country. and found that the cost of treating chronic diseases was rising. The extensive hospital stays and treatments that these diseases are known to necessitate result in the production of a sizable volume of residues and medical waste. Additionally, growing government initiatives for disposal of medical waste are assisting market revenue growth.

Medical Waste Management Market Size, Share, Growth Analysis, By Type (Non-Hazardous Waste & Hazardous Waste, Infectious & Pathological Waste, Pharmaceutical Waste), By Service (Collection, Transportation, & Storage Services, Treatment & Disposal Services (Incineration)), By Treatment Site (Onsite, and Offsite), By Application (Hospitals, Retail Pharmacy, Blood Banks, and Laboratories), By Region - Industry Forecast 2025-2032

Report ID: SQMIG35G2135 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 126 | Figures: 79

Medical Waste Management Market Insights

Medical Waste Management Market size was valued at USD 9.2 Billion in 2023 and is poised to grow from USD 9.77 Billion in 2024 to USD 15.81 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).

The waste generated during the diagnosis, testing, treatment, or immunization of people or animals is called medical waste. Tissue, swabs, glassware, gloves, bandages, and discarded sharps such as needles or scalpels are a few examples of this waste. More stringent regulations for handling healthcare waste and technological advancements by the leading service providers in the medical waste management market are anticipated to drive revenue growth during the projected period.

Moreover, it is projected that the market will grow rapidly over the next several years due to an increase in trash production levels globally and a growing public awareness of effective and environmentally friendly waste management. The need for innovative waste management solutions is being driven by the rise in trash output, stricter environmental regulations, and a heightened emphasis on sustainability. Added to that, the application of circular economy concepts, which reduce, reuse, and recycle the trash materials, is another area for growth in waste management. Moreover, medical labs, hospitals, biomedical research places, small or scattered sources, and from healthcare facilities will cover any garbage produced under healthcare waste. Studies on waste production reveal that hospitals around the globe produce about 0.5 kg of waste per bed per day. Depending on the local context, higher-income countries do produce a lot more waste than other countries.

US Medical Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.

Medical Waste Management Market Report Snapshots

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Global Medical Waste Management Market size was valued at USD 8.7 Billion in 2022 and is poised to grow from USD 9.2 Billion in 2023 to USD 14.89 Billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).

REMONDIS SE & Co. KG and Republic Services, Inc. are two of the leading businesses in the sector. The organizations have demonstrated a persistent commitment to utilizing advanced technology to enhance waste treatment, establishing strategic partnerships to expand their service offerings, and upholding stringent environmental regulations to ensure the safe and secure disposal and handling of medical waste. 'Waste Management, Inc.', 'Hazardous Waste Experts', 'EcoMed Services', 'GRP & Associates, Inc.', 'GIC Medical Disposal', 'EPCO', 'Safeguard Waste Solutions', 'DULSCO', 'Gamma Waste Services', 'BWS Incorporated', 'Veolia Environnement S.A.', 'Clean Harbors, Inc.', 'REMONDIS SE & Co. KG', 'Medwaste Industries, Inc.', 'SSO MEDICAL WASTE MANAGEMENT'

All waste generated by medical laboratories, biomedical research centers, healthcare facilities, and small or dispersed sources is included in the category of healthcare waste. Research on waste production indicates that hospitals worldwide produce approximately 0.5 kg of waste per bed every day. However, compared to other countries, higher-income countries produce significantly more garbage, depending on the local climate.

More and more advanced waste treatment methods are being used, including microwave treatment, autoclaving, and plasma arc technology. These offer safer, more effective, and environmentally more friendly options compared to traditional incineration techniques.

North America accounted for the largest revenue share of 30.36% in the market in 2023. With an advanced healthcare system, North America is considered a leading region in medical waste management among all parts of the world. This region has an enormous number of clinics, hospitals, research centers, and pharmaceutical companies in the US and Canada, generating huge amounts of medical wastes. The quantum and diversity of medical waste being generated in the region has thus set off an active demand for specialized services of waste management. Specialized waste management companies offering full-service solutions of proper medical waste treatment and disposal are in great demand in the US. The advanced technology is engaged by these companies to properly take care of biohazardous materials and follow environmental regulations.

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Medical Waste Management Market Insights

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What is the global market size of Medical Waste Management Market?

Who are the key vendors in the Medical Waste Management Market?

What is the key driver of Medical Waste Management Market?

What is the key market trend for Medical Waste Management Market?

Which region accounted for the largest share in Medical Waste Management Market?

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