Medical Waste Management Market Size To Reach USD 12,834.9 Million By 2030, Registering A Cagr of 5.8% - Valuates Reports

BANGALORE, India, Sept. 17, 2021 /PRNewswire/ -- Medical Waste Management Market by Service (Collection, Transportation, and Storage Services, Treatment & Disposal Services, and Recycling Services), Type of Waste (Non-hazardous Waste and Hazardous Waste), and Treatment Site (Off Site Treatment, and Onsite Treatment): Global Opportunity Analysis and Industry Forecast, 2021 - 2030.  It is published in Valuates Reports under the  Health  Category.

The global medical waste management market size was valued at USD 7,226.4 million in 2020 and is projected to reach USD 12,834.9 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.

Medical waste management ensures that biomedical waste is properly collected, stored, treated, and disposed of in order to protect the general public, animals, and the environment.

Major factors driving the growth of the medical waste management market are:

An increase in the volume of medical waste; an increase in the elderly population; an increase in the incidence of chronic disease; and advancement in medical waste treatment technology are expected to drive the growth of the medical waste management market.

The recent COVID-19 outbreak is expected to further drive the growth of the medical waste management market. For example, due to an increase in the use of various diagnostic activities and treatment of COVID-19 patients, India created roughly 45,308 tonnes of biomedical waste between June 2020 and May 2021, according to the Central Pollution Control Board (CPCB).

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TRENDS INFLUENCING THE MEDICAL WASTE MANAGEMENT MARKET:

According to the World Health Organization (WHO), 17.9 million, 9.3 million, 4.1 million, and 1.5 million fatalities due to cardiovascular disease, malignancies, respiratory illnesses, and diabetics respectively were reported annually in 2021. Hence, the medical waste management market is expected to develop as the frequency of chronic diseases rises, as well as the volume of medical waste generated by hospitals and clinics.

Health-care waste contains potentially harmful microorganisms that can infect hospital patients, health workers, and the general public. Other potential hazards may include drug-resistant microorganisms which spread from health facilities into the environment. Thus, it is important to properly manage medical waste. This in turn is expected to drive the growth of the medical waste management market. 

The medical waste management market is expected to grow because of an increase in the volume of medical waste, increased demand for medical waste management services, and an increase in the number of hospitals and clinics. Furthermore, rising demand for healthcare supplies, diagnostic instruments, and technology has resulted in massive amounts of medical waste, propelling market expansion. 

The rising environmental concerns and the implementation of numerous regulations for the management of biomedical waste fuel the growth of the medical waste management market. The release of infections and harmful contaminants into the environment during the treatment and disposal of healthcare waste may represent a health concern indirectly. To avoid negative health outcomes associated with poor practice, such as exposure to infectious agents and harmful substances, healthcare waste management demands increasing attention and dedication.

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MEDICAL WASTE MANAGEMENT MARKET SHARE ANALYSIS 

Based on service, the treatment & disposal services segment dominated the market in 2020 and is expected to continue this trend during the forecast period, owing to an increase in demand for incineration, rise in prevalence of chronic disease, and advancements in technology for medical waste treatment.

Based on type of waste, the non-hazardous waste segment was the highest contributor to the market in 2020, owing to a surge in the number of hospitals & clinics and an increase in demand for healthcare products for the treatment of diseases.

Based on treatment site, the offsite segment dominated the market in 2020 and is expected to continue this trend during the forecast period, owing to an increase in the prevalence of chronic diseases, advancements in R&D activities in the healthcare sector, and use of innovative technologies in waste management.

Due to an increase in the prevalence of chronic diseases, the presence of key players, increased environmental awareness regarding waste management, and an increase in the volume of medical waste in the region, North America accounted for a large share of the medical waste management market in 2020 and is expected to maintain its dominance during the forecast period. However, due to an increase in the incidence of chronic diseases, a rise in the senior population, increased demand for healthcare products and services, and an expansion in the number of hospitals and clinics, Asia-Pacific is predicted to have the highest CAGR of 7.1 percent from 2021 to 2030.

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Key Market Segments

By Service

• Collection, Transportation, and Storage Services
• Treatment & Disposal Services
• Incineration
• Autoclaving
• Chemical Treatment
• Others
• Recycling Services

By Type of Waste

• Non-Hazardous Waste
• Hazardous Waste
• Infectious & Pathological Waste
• Pharmaceutical Waste
• Sharp Waste
• Others

By Treatment Site

• Offsite Treatment
• Onsite Treatment

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Saudi Arabia
• South Africa
• Rest of LAMEA

Key Market 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.

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SIMILAR REPORTS :

-  Global Medical Waste Management and Disposal Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Incineration, Autoclaves, Others, Application: Infectious Waste, Hazardous Waste, Radioactive Waste, General Waste.

-  Global Medical Waste Management Solutions Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Infectious Waste, Hazardous Waste, Radioactive Waste, General Waste, Application: Hospitals & Clinics, Laboratories and Research Centers, Nursing Homes, Other.

-  Global Unregulated Medical Waste Disposal & Management Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Incineration, Autoclaves, Others, Application: Hospitals, Clinics, Others.

-  Global Regulated Medical Waste Disposal & Management Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Incineration, Autoclaves, Others, Application: Hospitals, Clinics, Others.

-  Global Hospital Waste Management Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Incineration, Autoclaves, Others, Application: Infectious Waste, Hazardous Waste, Radioactive Waste, General Waste

-  Global Radioactive Medical Waste Management Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Low-level (LLW), Intermediate-level (ILW), High-level (HLW), Application: Nuclear Medicine, Radiation Oncology, PET.

-  Global Health Care Waste Management Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Incineration, Autoclaves, Others, Application: Infectious Waste, Hazardous Waste, Radioactive Waste, General Waste.

-  Global Management of Hazardous Medical Waste Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Infectious and Pathological Waste, Pharmaceutical Waste, Sharp Waste, Other Medical Waste, Application: Hospitals, Diagnostic Laboratories, Other Waste Generators.

-  Global Medical Waste Management Service Market Size, Status and Forecast 2021-2027

-  Pharmaceutical Waste Disposal & Management Market Size, Status and Forecast 2021-2027

-  Global Medical Waste Treatment Market Size, Status and Forecast 2021-2027

-  Global Pharmaceutical Waste Management Market Size, Status and Forecast 2021-2027

-  Global Biomedical Waste Management Market Size, Status and Forecast 2021-2027

-  Global Surgical Waste Management Market Size, Status and Forecast 2021-2027

-  Global Surgical Fluid Waste Management Market Research Report 2021

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