Medical Waste Management Market to Reach USD 20.7 Billion By 2030

The?Global Medical Waste Management Market?Was Worth Around USD 12.9 Billion in 2021 and is Predicted to Reach Around USD 20.7 Billion by 2030, With A Compound Annual Growth Rate (CAGR) of Roughly 5.9% Over the Forecast Period.

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Medical Waste Management Market Growth

Healthcare is one of the fastest growing industries across the globe. Over USD 200 billion of revenue was generated in 2015 in healthcare revenues in the U.S. alone. The demand for advanced healthcare facilities is growing rapidly. Various nations are focusing on development of medical hub. This is expected to drive the growth of healthcare industry. Investment in healthcare across the world has made it more accessible to more people than ever before. New medical facilities, including hospitals, assisted living facilities, doctors’ offices, and ambulatory healthcare services are being built and every growing rate, and global healthcare revenue continues to increase. The rapidly growing healthcare facility is in turn expected to boost the medical waste management market.

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BioMedical Waste Solutions, LLC , Clean Harbors , Daniels Sharpsmart Compass , Inc., REMONDIS Medison Polska GmbH, Republic Services , Inc., Sharps Medical Waste Services , Stericycle , Inc., METALIMPEX Brazil ( SITA France / SUEZ Environnement ) S.A., Medasend Biomedical , Inc., Veolia UK Environnement S.A., and Waste Management Inc.

Medical Waste Management?Market Segmentation

• Based on the type of waste,?medical waste can be broadly classified into hazardous waste and non-hazardous waste. Non-hazardous waste was the leading segment and it accounted for 85 % share of the total revenue generated in 2021. Nevertheless, hazardous waste is projected to show significant growth in the years to come.
• Based on the?treatment, in 2021, autoclaving is the largest treatment type in the medical waste management market, and it accounted for the maximum revenue share of over 38% of the overall revenue.?The incineration segment accounts for more than XX% of the market revenue and is expected to witness substantial growth in the years to come.
• Based on the Services, the Offsite segment had the most significant revenue share due to the rise in the number of awareness programs for medical waste management is driving the growth of this segment.
• By Region, North America was the largest market for medical waste management in terms of revenue and accounted for a 35% share of the total market in 2021. Asia-Pacific is expected to witness the fastest growth in the years to come. This growth is mainly due to the increasing aging population coupled with the well-developed healthcare industry in this region. Europe was the second-largest regional market and is expected to show strong growth in the years to come. This growth is mainly attributed to increasing government regulations regarding the proper disposal of medical waste. Moreover, a high amount of waste generated per bed is expected to propel the market growth within the forecast period. Germany represents the largest medical waste management market in this region. The growth in the market is led by rising awareness of hygiene and rapid expansion of the medical industry & presence of stringent regulations.

Medical Waste Management?Companies?

• Biomedical Waste Solution LLC.
• Waste Management Inc.
• Republic Services Group LLC
• Clean Harbors Inc.
• Stericycle Inc.
• Sharps Compliance
• Daniels Sharpsmart Inc.
• REMONDIS Medison GmbH
• Suez Environnement S.A.
• Veolia Environnement S.A.

Recent Developments:

August 2021: Clean Harbors, Inc. declared it has entered into a definitive agreement to acquire HydroChemPSC (HPC), from an affiliate of Littlejohn & Co., LLC, for USD 1.25 billion in an all-cash transaction.

Segments Covered in the Report:

By Type of Waste

• Non-hazardous Waste
• Hazardous Waste

By Treatment

• Incineration
• Autoclaving
• Chemical Treatment
• Other Treatments

By Services

• Onsite
• Offsite

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