(MENAFN- EIN Presswire) Medical Waste Management Market
The global medical waste management market size was valued at $7,226.4 million in 2020, and to reach $12,834.9 million by 2030, with CAGR of 5.8% by 2030.
PORTLAND, OR, UNITED STATES, April 13, 2023 /einpresswire.com / -- The medical waste management market refers to the management and disposal of waste generated by healthcare facilities such as hospitals, clinics, and laboratories. Medical waste can include anything from used syringes and other sharps to expired drugs and contaminated materials. The proper management of medical waste is essential to prevent the spread of disease and protect public health and the environment.
The global medical waste management market is expected to grow at a steady pace in the coming years, driven by increasing healthcare facilities and rising concerns about the spread of infectious diseases. Stringent government regulations related to medical waste management and the adoption of advanced technologies are also expected to contribute to market growth.
Several companies operate in the medical waste management market, providing services such as waste collection, transportation, treatment, and disposal. Some of the major players in the market include Stericycle, Inc., Waste Management, Inc., Republic Services, Inc., and Veolia Environnement S.A.
Overall, the medical waste management market is expected to continue to grow in the coming years as healthcare facilities around the world work to manage and dispose of their waste in a safe and environmentally responsible manner.
According to the report, the global medical waste management industry garnered $7.22 billion in 2020, and is expected to reach $12.83 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030.
Download Free Sample PDF Of This Report:
Drivers, restraints, and opportunities
Rise in volume of medical waste, surge in prevalence of chronic diseases, and increase in prevalence of chronic diseases drive the growth of the global medical waste management market. However, high cost of services restrains the market growth. On the other hand, advancements in technologies for effective treatment of medical waste present new opportunities in the coming years.
Procure Complete Report (200 Pages PDF with Insights, Charts, Tables, and Figures) @
What is the Impact of Covid-19 Pandemic on Medical Waste Management Market Globally?
The demand for effective medical waste management increased significantly during the Covid-19 pandemic due to surge in diagnosis and treatment of infected patients. In addition, requirement for various types of services such as treatment, disposal, and recycling increased as the amount of waste exceeded the treatment capacity.
According to the Central Pollution Control Board (CPCB), India created nearly 45,308 tons of biomedical waste between June 2020 and May 2021. This is due to rise in diagnosis and treatment activities of Covid-19 patients.
Many countries implemented advanced technologies such as steam sterilization and chemical disinfection to treat an enormous amount of medical waste. Government authorities joined hands with private companies for effective disposal and management of mounting medical waste. The need to automate the waste treatment processes rose as the number of workers reduced from facilities.
The non-hazardous waste segment to maintain its lead position throughout the forecast period
The non-hazardous waste segment accounted for the highest share in 2020, contributing to around four-fifths of the global medical waste management market, and is estimated to maintain its lead position throughout the forecast period. Moreover, this segment is projected to garner the highest CAGR of 5.9% from 2021 to 2030. This is due to increase in number of hospitals & clinics and rise in demand for healthcare products for treatment of diseases. The report also analyzes the hazardous waste segment.
For Purchase Enquiry at:
The offsite treatment segment to continue its dominant share during the forecast period
Based on treatment site, the offsite treatment segment contributed to the highest share in 2020, holding nearly three-fifths of the global medical waste management market, and is expected to continue its dominant share during the forecast period. Moreover, this segment is projected to portray the largest CAGR of 6.2% from 2021 to 2030. This is attributed to rise in volume of biomedical waste and emerging key players for effective medical waste management. The research also discusses the onsite treatment segment.
Medical Waste Management Market Key Players:
Biomedical Waste Solutions, LLC
Clean Harbors, Inc.
Daniels Health Inc.
EcoMed Services
Remondis Medison (A Subsidiary of Remondis Ag & Co.Kg)
Republic Services, Inc.
Stericycle, Inc.
Suez Environmental Services
Veolia Environmental Services
Waste Management, Inc.
Trending Reports in Healthcare Industry:
Gene Synthesis Market:
Influenza Vaccine Market:
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting.
Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
David Correa
Allied Analytics LLP
+1-800-792-5285
email us here
Comments
No comment