Global Medical Waste Management Market Size to Reach USD 15.22 Billion at a CAGR of 5.7% in 2030

The global medical waste management market size was USD 9.24 Billion in 2021 and is expected to register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data.

Medical waste is trash created during medical, surgical, and therapy operations in healthcare institutions that must be appropriately treated and controlled. Medical waste management ensures that biomedical waste is appropriately collected, stored, processed, and disposed of to protect the safety of the general public, animals, and the environment. According to the press office of the Kazakh Ministry of Education and Science, experts at Al-Farabi Kazakh National University developed a revolutionary technique of handling biological waste such as gloves, medical masks, shoe coverings, and other things in November 2021.

All waste created by medical laboratories, healthcare institutions, and biomedical research facilities, as well as garbage generated by minor or dispersed sources, is considered healthcare waste. According to global waste generation rate data, hospitals create around 0.5 kilogramme of garbage per bed every day. This amount, however, fluctuates according to local circumstances, with higher-income nations creating significantly more garbage. Furthermore, the COVID-19 epidemic generates a large amount of medical waste. According to a World Health Organization (WHO) study from February 2022, ten thousand tonnes of medical waste, including used test kits, obsolete vaccination bottles, and abandoned syringes, had accumulated.

Some major companies in the global market report include Danaher, Thermo Fisher Scientific, Merck KGaA, Eurofins Scientific, KANEKA CORPORATION, Agilent Technologies, Biolytic Lab Performance Inc., Generi Biotech, Biogen and Ionis Pharmaceuticals, Inc.

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Market Overview:

The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2022-2030. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.

The Medical Waste Management Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Medical Waste Management Market.

Further key findings from the report suggest,

• The worldwide medical waste management market is divided into two types: hazardous waste and non-hazardous waste. Because of increased demand for healthcare items and hospitals throughout the world, the non-hazardous waste category is predicted to account for the greatest revenue share over the projection period. Non-hazardous medical waste consists of clean glass, paper, plastic, cardboard, and other materials that do not pose a risk to human or environmental health. Personal Protective Equipment (PPE) manufacturing, which includes 89 million medical masks, 76 million examination gloves, and 1.6 million goggles, is predicted to expand by 40% by March 2020, according to the World Health Organization (WHO). All of these variables are projected to promote this segment’s revenue growth.
• Based on regional analysis, the North America market accounted for the biggest revenue share in the worldwide medical waste management market, owing to the region’s rising growth and progress in the healthcare sector, particularly in the United States and Canada. The healthcare business in the United States is large, with healthcare spending accounting for more than 19.7% of the country’s GDP in 2020. and reported increased spending on chronic illness treatment. These disorders are known to necessitate extended treatments and hospital stays, resulting in the production of a substantial quantity of residues and medical waste.
• Clean Harbors Inc., a U.S. environmental services corporation, unveiled a new 600-seat Global Capability Centre (GCC) in Hyderabad on January 13, 2020. It has also indicated that it plans to sell its products and services in the Indian market. Its services include hazardous waste transportation and disposal, laboratory chemical packaging, 24-hour emergency response, part cleaning, and field, energy, and industrial services.

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For the purpose of this report, Reports and Data has segmented the global medical waste management industry into Type Outlook, Treatment Site Outlook, Service Outlook, Waste Generator Outlook, Regional Outlook:

Type Outlook (Revenue, USD Billion; 2019-2030)

• Hazardous Waste
• Non-hazardous Waste

Treatment Site Outlook (Revenue, USD Billion; 2019-2030)

• Onsite
• Offsite

Service Outlook (Revenue, USD Billion; 2019-2030)

• Recycling
• Treatment and Disposal
• Collection, Transportation, and Storage

Waste Generator Outlook (Revenue, USD Billion; 2019-2030)

• Hospitals
• Retail Pharmacy
• Blood Banks
• Laboratories
• Research Institutions
• Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Sweden
  • BENELUX
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Rest of MEA

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 Key Advantages of Medical Waste Management Market Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Medical Waste Management industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Medical Waste Management Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

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