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Medical Waste Management Market (Type of Waste - Hazardous Waste, and Non-hazardous Waste; Service Type - Collection, Transportation, & Storage, Recycling, Treatment & Disposal; Treatment Site - Onsite Treatment, and Offsite Treatment): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : HC0185

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the medical waste management market provides an in-depth analysis of segments and sub-segments in the global as well as regional medical waste management market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical waste management market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global medical waste management market. According to the report, the global medical waste management market is projected to grow at a CAGR of 5.11% over the forecast period of 2021-2027.

 

Market Insight

The global medical waste management market size was valued at around USD 135.7 million in 2021 and is expected to reach over USD 1889.4 million in 2027, growing with a CAGR of 5.11% during the forecast period. Medical waste management is solid or liquid wastage generated during the diagnosis, treatment, and immunization of humans or animals from health facilities, for example, hospitals, pharmaceuticals, nursing homes, healthcare offices, and others. Numerous treatment options already exist for the management of these products, which comprises incineration. Furthermore, medical wastage management depends on effective wastage segregation. If it is not carried out properly, then there is always a chance of a small quantity of hazardous stuff getting mixed with a huge amount, ultimately leading to contamination of complete volume. Owing to the highest utilization of biomedical products and technologies, the rising old-age population, increasing health care expenses and severe laws for the market is expected to grow substantially.

 

The global market is propelled by numerous factors, such as the increasing volume of such products, growing focus on the management of medical wastage, and stringent regulatory framework to manage these safely and in an eco-friendly way. The medical waste management market is much fragmented and includes a large number of waste management giants as well as emerging players. Furthermore, the emerging players have a good opportunity to enter the market, due to the availability of research funding, and favorable regulatory scenarios, and laws helping the upcoming players. In addition, the threat of substitute products and extreme competitive scenarios prevalent in the medical waste management market is anticipated to restrain the market growth during the forecast period.

 

Among the geographies, the North American region is expected to hold the largest share in the global medical waste management market owing to the high-quality healthcare and modern medical technology in the region. Moreover, the growing aging population and stringent regulations in the US are anticipated to positively contribute toward the growth of the market. However, the Asia Pacific region is projected to grow with a considerable CAGR in the medical waste management market over the projection period. The ongoing transformation of healthcare delivery systems into advanced value-based healthcare practices that create a sustainable health system is projected to contribute to the overall growth of the market during the projection period.

 


Medical Waste Management Market


Segment Covered

The report on the global medical waste management market covers segments such as type of waste, service type, and treatment site. On the basis of type of waste, the sub-markets include hazardous waste, and non-hazardous waste. On the basis of service type, the sub-markets include collection, transportation, & storage, recycling, treatment & disposal. On the basis of treatment site, the sub-markets include onsite treatment, and offsite treatment.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Waste Management, Inc., Remondis Medison, Republic Services, Inc, Veolia Environnement S.A., Stericycle, Inc., Daniels Sharpsmart Inc., Sharps Compliance, Inc., Biomedical Waste Solutions, Llc., Clean Harbors, Inc., and Suez Environnement S.A.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the medical waste management market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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