The market report on the Medical Waste Management Market published by Stratview Research indicates lucrative growth opportunities in the Medical Waste Management industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.

Medical Waste Management Market Forecast:

The medical waste management market was estimated at USD 9.72 billion in 2022 and is likely to grow at a CAGR of 5.63% during 2023-2028 to reach USD 13.52 billion in 2028.

What is medical waste management?

Medical waste management is the proper management and disposition of biomedical wastes to protect the environment, the general public, and workers, especially healthcare and sanitation workers who are at risk of exposure to biomedical waste as an occupational hazard.

Medical waste management of different types, such as hazardous and non-hazardous that are used for onsite and offsite treatments.

COVID-19 Impact

An increase in the number of covid affected people led to an increase in medical waste tremendously. The increase in medical waste positively affected the market and it led to healthy growth in the medical waste management market.

Market Dynamics

The medical waste management market is set to rise in the coming years, due to several factors including -

• The rise in healthcare infrastructure, such as hospitals, laboratories, research centers, blood banks, etc. has spurred an increase in medical waste generation, necessitating demand for medical waste management services.

• The need for effective medical waste management amplifies during outbreaks of infectious diseases, such as Covid 19. A huge volume of medical waste is generated during such pandemics requiring effective waste management services.

• Governments of countries across the globe are implementing multiple large-scale medical waste initiatives. This, as a result, drives the demand for effective waste management.

• The increasing geriatric population, rising focus on healthcare, and increasing healthcare expenditure are also a few reasons behind the growth of medical waste management.

Here are the key players in the market –

• Veolia Environnement S.A.

• Suez Environnement S.A.

• Sharps Compliance, Inc.

• Waste Management, Inc.

• Clean Harbors, Inc.

• Remondis Se & Co. Kg

• Republic Services, Inc.

• Biomedical Waste Solutions LLC

• Daniels Sharpsmart Inc.

• Ecomed Services.

Medical Waste Management Market Segmentation:

Based on the service type, the market is segmented as collection, transportation, and storage services; treatment & disposal services; and recycling services. The collection, transportation, and storage services segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The growth of the segment is triggered by the presence of stringent regulations for the collection, transportation, and storage of medical waste.

Based on the type of waste, the market is segmented as hazardous and non-hazardous. The non-hazardous waste dominates the market, owing to the large quantity of non-hazardous waste generated in healthcare facilities across the globe which creates a significant focus on its effective management.

In terms of regions, North America is estimated to be the largest as well as the fastest-growing market during the forecast period, with lucrative growth opportunities. The growth of the market is driven by the growing aging population and stringent regulations in this region.

Report Customization and Custom Research

Stratview Research offers customization options to the users. Also, it provides custom research services across sectors. In case of any custom research requirement associated with market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at –

E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176