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The medical waste management market is projected to reach a value of USD 14.15 billion in 2027 with a CAGR of 5.5% between 2022 and 2027. In 2017, the US held the largest market share, projecting an annual revenue of USD 1.48 billion. The market report offers extensive research analysis on the market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
Market Overview
The medical waste management market refers to the industry involved in the proper handling, treatment, and disposal of medical waste. Incineration accounts for approximately 40% of the medical waste management market share.
Analysis Period | 2017-2027 |
Market Size (2017) Historic Year | USD 8.79 billion |
Market Size (2027) - Forecasted Year | USD 14.15 billion |
Historic Opportunity (2017-2021) | USD 0.82 billion |
Historic CAGR | 2.25 % |
Forecasted Opportunity (2023-2027) | USD 3.32 billion |
Market Opportunity Transformation Growth | 60.98 % |
Market Opportunity Capitalization | USD 4.14 billion |
Our market forecast report includes an overview that involves a comprehensive analysis, integrating market trends and growth analysis. Market research and growth assessments contribute to a thorough market analysis and report, providing insights into dynamic trends that shape the industry's trajectory. Emphasizing market growth and forecasting, this overview offers a holistic understanding of the medical waste management industry, addressing the evolving trends that influence the market's growth and forecast. The continuous market analysis and forecast reflect the industry's commitment to staying abreast of developments, ensuring that clinical byproduct management practices align with global standards and environmental sustainability goals.
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The Global Surgical Waste Management Market refers to the industry involved in the proper handling, treatment, and disposal of medical waste. The global medical waste management market is expected to witness significant growth in the coming years due to increasing healthcare activities and strict regulations. Key players in the market offer services such as collection, transportation, treatment, and disposal of medical waste. Stringent government regulations regarding the safe management of medical residue are driving the growth of the market. Technological advancements in treatment methods, such as microwave disinfection and autoclaving, are leading to more efficient and eco-friendly medical waste management practices.
The growing global population and increased healthcare demands have led to a significant rise in healthcare activities, resulting in an increased generation of medical waste. This surge in medical waste has driven the need for effective market solutions. Healthcare providers have imposed stringent regulations regarding the management, further fueling the demand for such solutions. Additionally, many healthcare facilities now outsource their industry to specialized companies, increasing the demand for these services.
Economies like India and China are witnessing the healthcare sector's robust growth, making it a significant contributor to their revenues. This growth offers opportunities for market vendors to expand their presence in these economies. The flourishing healthcare industry presents a positive outlook for the global market's growth in the foreseeable future.
Various types of waste arise from healthcare procedures, laboratories, and treatment sites worldwide. During the pandemic, initiatives to manage infectious diseases generated an increased volume of medical residue. In Spain, Japan, Mexico, South Korea, and Italy, incineration is a common method, while some organizations focus on recycling. The type of waste encompasses sharps, infectious materials, and hazardous substances. Latin America witnesses diverse approaches, with clinics and others adopting cost-effective waste management strategies. Efficient management of medical waste is crucial for public health, necessitating global collaboration and advancements in disposal methods to address environmental concerns and ensure the safety of healthcare workers and communities.
The management market operates within a regulatory framework guided by guidelines and regulations set by nations worldwide. The pharmaceutical sector is the fastest-growing segment in the market, with an annual growth rate of 7%. Stakeholders, including management industry leaders like Republic Services Inc., play a pivotal role in shaping the regulatory landscape.
In the Asia Pacific region, the prevalence of medical waste prompts the development of robust waste management services. Instances like Indonesia, Bangladesh, and Bhutan underscore the need for funding and recycling services. Market segmentation aligns with regulatory frameworks, considering the diverse spread of clients and ensuring compliance across the world. As regulations evolve, the market sector adapts to meet stringent standards, reflecting a collective effort to safeguard public health and the environment.
Medical waste management involves effective waste collection and segregation methods, crucial for handling the increasing amount of healthcare waste generated globally. Governments, recognizing the significance, invest in service collection infrastructure and treatment segments. Daniels Sharpsmart Inc. implements growth strategies, focusing on patent analysis and innovative waste treatment. In the United States and Maldives, healthcare services adapt to industry trends, addressing the issue of waste management during outbreaks. Chemical treatment is a prevalent method, ensuring the safe disposal market of medical waste. Research facilities and waste generators collaborate to implement efficient waste segregation, reflecting a collective commitment to sustainable and safe practices.
The non-hazardous segment was valued at USD 7.29 billion in 2017 and continued to grow until 2021. The inappropriate management of medical waste can cause infection to medical workers as well as to patients visiting hospitals. To reduce the risk of infections to humans, medical waste needs to be disposed of properly, which increases the market demand. Hence, factors like increasing awareness programs on medical waste disposal are expected to boost the growth of the global market during the forecast period.
Around 80% of medical waste generated in hospitals is non-infectious and can be safely disposed of through landfilling or recycling. Medical trash management trends underscore the forces shaping the industry, with a focus on compliance and proper disposal methods. The global market size for healthcare infrastructure waste management witnesses continuous growth due to increased waste generation from bio-medical sources, pharmaceuticals, and infectious waste. Innovative solutions, including advanced incinerators and specialized biohazard containers, redefine the industry. Emphasis on environmentally friendly alternatives like landfill reduction and proper biohazard disposal aligns with compliance standards. Biomedical garbage management evolves to address the challenges posed by diverse waste materials, ensuring a sustainable approach. The ongoing trend toward efficient and ethical healthcare waste management reflects the industry's commitment to safeguarding public health and the environment.
The market employs various treatment and disposal techniques to address pollution and ensure safety. Incinerators play a significant role in the hazardous waste segment, adhering to protocols and standards. Disposal services, crucial for business, often require capital investments. The market definition and value chain analysis list customers, rivalry, and the majority of waste segments, emphasizing their roles in shaping the market's basis. The threat of pollution and restraints drive the need for advanced treatment sites, with the market value reflecting the importance of efficient and safe medical trash management practices. The industry continually evolves, addressing environmental concerns and improving disposal techniques to meet the growing demand for sustainable solutions.
Emerging technologies in market are reshaping practices in countries like Singapore, the Philippines, and Thailand. The emphasis on market opportunities, especially in health facilities and offices, has led to innovative approaches such as microwaving. The market witnesses acquisitions and mergers, with collaborations and partnerships addressing the quantity and proper disposal of medical waste. BWS Incorporated, a prominent name in this category, plays a crucial role in addressing the increasing volumes of medical waste. With specific attention to handling hazardous items like needles and addressing the healthcare needs of cancer patients, these technologies offer sustainable solutions. Authorities and health agencies in China, Japan, and other states collaborate to implement advanced technologies, ensuring efficient industry for growing populations.
North America holds the largest market share in medical waste industry, with over 36% revenue contribution. Asia-Pacific also contributes significant growth. Industry is mandatory in the region as medical waste can contain infectious agents such as bacteria, viruses, and other harmful substances that can cause serious illness. Additionally, medical waste can be harmful to the environment if not disposed of properly. Thus, there are regulatory requirements at both the federal and state levels that mandate proper medical management in the region. Hence, factors like the adoption of biomedical waste management is increasing in North America, which is expected to positively impact the growth of the regional market in focus during the forecast period.
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The market is fragmented in nature. Some significant players include Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc.
The market growth and trends report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market growth 2023-2027 |
USD 3.32 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.0 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc., Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our Market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technique
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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