Stratview Research delivers key insights into the global Medical Waste Management Market. According to Stratview Research, the market is segmented by Service Type (Collection, Transportation, and Storage Services; Treatment & Disposal Services; and Recycling Services), by Type of Waste (Non-Hazardous Waste, Hazardous Waste), by Treatment Site Type (Offsite Treatment, Onsite Treatment), by Waste Generator Type (Hospitals & Diagnostic Laboratories, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The report suggests that the overall medical waste management market was estimated at USD 9.72 billion in 2022 and is likely to grow at a CAGR of 5.65% during 2022-2028 to reach USD 13.52 billion in 2028.

The market is witnessing significant growth on account of the growing geriatric and obese population along with the increasing volume of healthcare waste.

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.

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.

Market Segments' Analysis

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 2021 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.

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

  • What is the global demand for the Medical Waste Management Market in terms of revenue?
  • Which are the prominent players in the market?
  • At what CAGR is the market projected to grow within the forecast period?
  • What are the driving factors fuelling the growth of the market?
  • Which region accounted for the largest share of the market?
  • How did the Covid19 impact the market?
  • How long will it take to recover from the Covid impact?

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