The market research report, entitled Medical Waste Management Market aims to help the stakeholders discover more information regarding trends in the Medical Waste Management Market. The report will give an overview of the detailed analysis of the correlated key players in the market, covering their competitive landscape, capacity, and latest developments like investments, expansion of capacity, technological growth, etc. Also, it covers different market segments and other factors affecting the market.

Global 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.

Some existing key players in the market are:

• 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.

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.

Medical Waste Management Market Segment Analysis:

Stratview Research’s proposed market report on Medical Waste Management Market contains the segment-wise current market condition. Also, it offers an estimation of future growth opportunities.

As per the report, the market is segmented by:

• By Service Type (Collection, Transportation, and Storage Services; Treatment & Disposal Services; and Recycling Services),
• ByType of Waste (Non-Hazardous Waste, Hazardous Waste),
• ByTreatment Site Type (Offsite Treatment, Onsite Treatment),
• ByWaste Generator Type (Hospitals & Diagnostic Laboratories, Others),
• ByRegion (North America, Europe, Asia-Pacific, and Rest of the World).

Sneak peek into the Report:

This report discusses about the various challenges, segments, and growth in the Medical Waste Management Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.

The report also benchmarks the major parameters like -

• Industry Outlook
  • Market Segmentation & Value Chain Analysis
  • Industry Dynamics
  • Drivers
  • Restraints
  • Key Opportunities
  • Application Outlook
  • Technology Outlook
  • Regional Outlook
  • Country-level Analysis
  • Competitive Landscape
  • Company Market Share Analysis
  • Key Company Profiles/ Market Players

Segment 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 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.

Customization of Reports 

Stratview Research also provides solutions to custom research requirements for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors with this thorough review.

Research Methodology

Stratview Research's report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

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