Medical Waste Management Market is an essential part of healthcare. With the increasing number of healthcare facilities and the amount of waste generated from them, it is becoming increasingly important to manage this waste effectively and safely. The medical waste management market is estimated to reach a value of $ 12.6 billion by 2027, growing at a CAGR of 5.6%.
One of the primary drivers of the medical waste management market is the increased focus on sustainability and safety. As healthcare facilities become more aware of the potential risks associated with improper disposal of medical waste, they are increasingly turning to medical waste management services to ensure that their waste is disposed of properly. Additionally, government regulations have been put in place to ensure that medical waste is disposed of safely and in accordance with the law.
Another factor driving the medical waste management market is the growing demand for medical devices and equipment. With the increasing number of medical procedures and treatments, the number of medical devices and equipment being used is also increasing. This, in turn, leads to an increase in the amount of medical waste that needs to be managed.
Request for assumptions & how numbers were triangulated.
https://www.marketsandmarkets.com/requestsampleNew.asp?id=1256
Non-hazardous waste segment to register the highest growth rate during the forecast period
The medical waste management market is segmented into non-hazardous waste and hazardous waste based on type of waste. The non-hazardous waste segment accounted for the largest share of the medical waste management market. The large share of this segment can mainly be attributed to the increase in waste generation by healthcare facilities.
The offsite treatment accounted for the largest share of the medical waste management market, by treatment site segment.
Based on treatment site, the medical waste management market has been segmented into offsite treatment and onsite treatment. The offsite treatment segment accounted for the largest share of the medical waste management market, mainly due to the increase in cases of health conditions and increased accidental and burn injuries.
The hospital & diagnostic laboratories accounted for the largest share of the medical waste management market, by waste generator segment.
Based on waste generator, the medical waste management market has been segmented into hospital & diagnostic laboratories and other waste generators. The hospital & diagnostic laboratories segment accounted for the largest share of the medical waste management market, mainly due to the Increasing number of awareness programs for medical waste management in developed countries.
The medical waste management market is also being driven by the emergence of new technologies and solutions that are making it easier and more efficient to manage medical waste. For example, autoclaves and steam sterilizers are being used to sterilize medical waste, eliminating the need to use hazardous chemicals. Additionally, new waste disposal methods, such as incineration, are being developed to make the disposal process safer and more efficient.
Finally, the medical waste management market is also being driven by the increasing prevalence of chronic diseases. As the number of people suffering from chronic conditions increases, the amount of medical waste generated also increases. This is leading to an increase in demand for medical waste management services.
Overall, the medical waste management market is estimated to continue its growth over the coming years. With the increased focus on safety and sustainability, the demand for medical waste management services is expected to remain high. Additionally, new technologies and solutions are continually being developed to make the medical waste management process more efficient and safe.
Download an Illustrative Overview:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1256
Recent Developments
- In February 2022, Republic Services, Inc. (US) acquired US Ecology (US) to expand its footprint across the US and Canada.
- In December 2021, Veolia Environnement S.A. (France) launched the Vigie Covid-19 solution, which can track signs of the Omicron variant in wastewater, acting as an early warning system for monitoring the progression of the pandemic.
- In October 2020, Waste Management, Inc. (US) acquired Advanced Disposal (US). This acquisition expanded Waste Management’s footprint and provided access to sustainable waste management and recycling services to customers in the US.
Content Source:
https://www.marketsandmarkets.com/Market-Reports/medical-waste-management-market-1256.html
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek