Meticulous Research®—a leading global market research company, published a research report titled ‘Medical Waste Management Market by Waste Type (Non-hazardous, Hazardous), Service (Collection, Transport, Treatment (Incineration, Autoclaving, Chemical), Disposal), Source (Hospital, Diagnostic Laboratory, Research Laboratory)—Global Forecast to 2029.
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The global market for medical waste management is anticipated to reach $16.69 billion by 2029, growing at a CAGR of 6.3% from 2022 to 2029, according to the most recent report from Meticulous Research®. The rising volume of medical waste produced globally, strict rules for medical waste management, and expanding government programmes to enhance public knowledge of safe medical waste disposal are all contributing factors to the market’s expansion. However, it is anticipated that the expansion of this market will be constrained by the absence of uniform rules for the handling of medical waste in emerging nations.
The global medical waste management market is segmented by waste type (non-hazardous waste and hazardous waste), services (collection, transportation, & storage, treatment [incineration, autoclaving, chemical treatment, and other treatments], and recycling), source (hospitals & clinics, diagnostic laboratories, research laboratories, other sources) and geography. The study also includes an analysis of the regional and country-level markets.
Based on waste type, in 2022, 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.
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Based on services, in 2022, 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 the medical facilities globally generates the demand for medical waste collection, transportation, and storage services.
Based on source, in 2022, 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 via hospitals and the growing government initiatives to promote proper medical waste management.
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 Middle East & Africa. Based on geography, in 2022, 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, rising healthcare expenditures, and growing government initiatives to raise awareness regarding proper medical waste disposal.
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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.), Republic Services, Inc. (U.S.), Stericycle, Inc. (U.S.), SUEZ SA (France), VEOLIA ENVIRONNEMENT SA (France), Waste Management, Inc. (U.S.), Sharp Compliance, Inc. (U.S.), and Gamma Waste Services (U.S.).
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