As per the latest report published by Growth Plus Reports, the Global Medical Waste Management Market was valued at US$ 76.53 billion in 2021 and is expected to reach US$ 128.2 billion by 2030 at a revenue CAGR of 5.9% during the forecast period 2022 to 2030. The study analyzes the most successful strategies, market trends, drivers and opportunities, competitive landscape, market size, statistics, forecasts, and key investment areas.
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Medical Waste Management Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 76.53 billion |
| Revenue forecast in 2030 | US$ 128.2 billion |
| Growth Rate | CAGR of 5.9% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Service, type of waste, treatment site, waste generator and region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers:
The global market revenue for medical waste management is increasing because of a rising aging population, the prevalence of chronic diseases, and technological advancements for the effective treatment of medical waste. However, the lack of knowledge about the health risks of medical waste and delayed acceptance of new technologies in emerging countries are expected to restrain the market revenue growth.
Market Segmentation:
Growth plus reports have analyzed the global medical waste management market from perspectives such as service, type of waste, treatment site, waste generator, and region.
Service Segmentation:
Based on service, the global waste management market is segmented into collection, treatment, disposal, incineration, and recycling.
The collection segment accounts for the largest revenue share in the global market. This revenue share is attributed to the increasing volume of medical waste and healthcare institutes outsourcing the management of medical waste proper transportation and packaging.
Type of Waste Segmentation:
Based on the type of waste, the global waste management market is segmented into non-hazardous, infectious, and pharmaceutical.
The non-hazardous segment dominates the market during the forecast period. This large revenue share is attributed to the large amount of non-hazardous waste generated by healthcare activities which are about 85% of the total waste.
Treatment Site Segmentation:
Based on the treatment site, the global waste management market is segmented into offsite and onsite.
The offsite treatment site segment accounts for the largest revenue share of the market. This large revenue share is attributed to cost-effectiveness. Furthermore, stringent regulation for using and maintaining such equipment presents another challenge, increasing the adoption of the offsite treatment site segment.
Waste Generator Segmentation:
Based on waste generators, the global waste management market is segmented into hospitals and labs.
The hospital segment accounts for the largest revenue share during the forecast period due to an increase in the number of awareness campaigns for medical waste management.
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Regional Growth Dynamics:
Based on region, the global medical waste management market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global medical waste management market in terms of revenue share during the forecast period. Growing government measures for the disposal of medical waste are attributed to the high regional increase. Furthermore, the waste management programs for the generation, storage, handling, treatment, and disposal of medical waste as well as the key market players, are expected to accelerate the market revenue during the forecast period.
Competitive Landscape:
The prominent players in the global medical waste management market include:
- Biomedical Waste Solutions. LLC
- Clean Harbors, Inc.
- EcoMed Services
- Daniels Sharpsmart, Inc.
- Gamma Waste Systems
- GRP & Associates, Inc.
- Republic Services, Inc.
- Stericycle
- Remondis Medison
- Triumvirate Environmental
- Veolia Environmental
- Waste Management Inc.
To maintain market competition in the medical waste management market, these market competitors are using a various growth strategy with ongoing technological advancements. These initiatives have enabled the expansion of future economic business prospects and increased demand for medical waste management.
Recent Developments:
- In August 2022, to address the unprecedented rise in infectious healthcare waste brought on by the COVID-19 pandemic, the Government of Japan and the United Nations Development Programme (UNDP) started a new project to assist the national health agencies.
- In August 2021, lean Harbors acquired Littlejohn & Co., LLC affiliate HydroChemPSC for USD 1.25 billion to enhance its revenue-generating potential by bolstering its opportunities with strong brand equity and customer service reputation.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Years – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL MEDICAL WASTE MANAGEMENT MARKET – ANALYSIS & FORECAST, BY SERVICE
- Collection
- Treatment
- Disposal
- Incineration
- Recycling
- GLOBAL MEDICAL WASTE MANAGEMENT MARKET – ANALYSIS & FORECAST, BY TYPE OF WASTE
- Non-hazardous
- Infectious
- Pharmaceutical
- GLOBAL MEDICAL WASTE MANAGEMENT MARKET – ANALYSIS & FORECAST, BY TREATMENT SITE
- Offsite
- Onsite
- GLOBAL MEDICAL WASTE MANAGEMENT MARKET – ANALYSIS & FORECAST, BY WASTE GENERATOR
- Hospital
- Labs
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
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