Global Medical Waste Management Market Report 2022 to 2028: Featuring Waste Management, Clean Harbors, Biomedical Waste Solutions and Sharps Compliance Among Others

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Jan 20, 2023, 15:10 ET

DUBLIN, Jan. 20, 2023 /PRNewswire/ -- The "Global Medical Waste Management Market Size, Share & Industry Trends Analysis Report By Type of Waste (Non-hazardous and Hazardous), By Service, By Treatment & Disposal Type, By Treatment Site, By Waste Generator, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Medical Waste Management Market size is expected to reach $13.1 billion by 2028, rising at a market growth of 5.5% CAGR during the forecast period.

Anything waste that includes infectious materials is referred to as medical waste, sometimes referred to as hospital waste. Along with trash from the manufacturing of biomedical waste with medical or laboratory origin (such as packaging, old bandages, infusion kits, etc.), it might also include waste from research labs that contains biomolecules or organisms that are generally prohibited from being released into the environment.

Whether or not contaminated by blood and its propensity to cause harm when not carefully regulated and dispersed, the disposed sharps are considered medical waste. Biowaste is one category of waste. Medical waste can be either liquid or solid.

The handling of biomedical waste using a variety of services, including autoclaving, chemical treatment, and burning, is referred to as medical waste management. The by product of hospitals, the research sector, laboratories, and surgery centres is medical waste.

This market's expansion is a result of rising medical waste volumes, strict regulations enacted to handle them effectively and sustainably, and the expansion of healthcare infrastructure. Additionally, the market is growing as a result of an increase in awareness campaigns for managing medical waste.

The increasing application of stringent environmental and safety requirements by governments throughout the world is one of the key reasons driving the medical waste management industry. Various federal, state, and local regulations that have established a number of guidelines for the many categories of medical wastes govern this field.

The containment, transportation, labelling, storage, and processing of medical waste are generally governed by local and state rules. Any medicine that satisfies the requirements for becoming a hazardous waste must be properly disposed of in the United States in accordance with the Resource Conservation and Recovery Act of the U.S. Environmental Protection Agency.

COVID-19 Impact Analysis

The expansion in aging population, rise in chronic disease incidence, and advancements in technology for the efficient treatment of medical waste are the main factors driving the growth of the market for medical waste management. India created roughly 45,308 tonnes of biomedical waste during June 2020 and May 2021, as per the Central Pollution Control Board (CPCB), as a result of an increase in the usage of various diagnostic procedures and the treatment of COVID-19 patients. Two out of every three senior individuals had a chronic condition in 2020, as per the Longitudinal Ageing Study in India (LASI). Government initiatives for the efficient handling of medical waste are another factor driving market expansion.

Market Growth Factors

Rise in The Amount of Healthcare Wastage

The market-driver for the healthcare business, medical waste management, has experienced tremendous expansion. The demand for medical waste management has expanded due to a growth in hospitals, labs, research institutes, mortuaries, autopsy facilities, blood banks, and collection operations around the world. Hospitals, dentist offices, clinics, blood banks, medical research facilities, and laboratories all produce medical waste on a regular basis.

Stringent Regulations by Governments for Decomposition of Medical Waste

In affluent nations like the US and UK, there is a rise in activities of awareness programmes and conferences to raise understanding of proper medical waste management and prevent medical waste mistreatment. Government and non-government organizations are working by raising public awareness of the right method for getting rid of medical waste in a non-hazardous state. Thus, this growing awareness programs among healthcare institutions and the stringent government regulation is expected to accelerate the growth of the market during the forecast period.

Market Restraining Factors

Requirement of High Investment by Healthcare Companies

Hospitals, healthcare facilities, and pharmaceutical firms must make a sizable capital investment in the gathering and proper processing of waste in order to minimize environmental pollution. The disposal of both hazardous and non-hazardous medical waste calls for sophisticated technology and a large financial commitment. An incinerator facility must be installed, which is an expensive operation. Especially, the expenses associated with building the infrastructure and running the incineration facilities are extremely substantial.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Strategies deployed in Medical Waste Management Market

Chapter 4. Global Medical Waste Management Market by Type of Waste
4.1 Global Non-hazardous Market by Region
4.2 Global Hazardous Market by Region
4.3 Global Medical Waste Management Market by Hazardous Waste Type
4.3.1 Global Infectious & Pathological Market by Region
4.3.2 Global Sharp Waste Market by Region
4.3.3 Global Pharmaceutical Waste Market by Region
4.3.4 Global Others Market by Region

Chapter 5. Global Medical Waste Management Market by Service
5.1 Global Collection, Transport & Storage Market by Region
5.2 Global Treatment & Disposal Market by Region
5.3 Global Medical Waste Management Market by Treatment & Disposal Type
5.3.1 Global Incineration Market by Region
5.3.2 Global Autoclaving Market by Region
5.3.3 Global Chemical Treatment & Others Market by Region
5.4 Global Recycling Market by Region

Chapter 6. Global Medical Waste Management Market by Treatment Site
6.1 Global Offsite Market by Region
6.2 Global Onsite Market by Region

Chapter 7. Global Medical Waste Management Market by Waste Generator
7.1 Global Hospital & Diagnostic Laboratories Market by Region
7.2 Global Others Market by Region

Chapter 8. Global Medical Waste Management Market by Region

Chapter 9. Company Profiles
9.1 Veolia Environnement S.A.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Acquisition and Mergers:
9.2 Waste Management, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Acquisition and Mergers:
9.3 Clean Harbors, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.4 Remondis SE & Co. KG (Rethmann Se & Co. Kg)
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Acquisition and Mergers:
9.5 Biomedical Waste Solutions, LLC
9.5.1 Company Overview
9.6 Daniels Sharpsmart, Inc. (Daniel Health)
9.6.1 Company Overview
9.7 Sharps Compliance, Inc.
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Acquisition and Mergers:
9.8 Republic Services, Inc. (Cascade Investment Group, Inc.)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Acquisition and Mergers:
9.9 EcoMed Services (Tristel Plc)
9.9.1 Company Overview
9.10. Stericycle, Inc.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Recent strategies and developments:
9.10.4.1 Partnerships, Collaborations, and Agreements:
9.10.4.2 Product Launches and Product Expansions:

For more information about this report visit https://www.researchandmarkets.com/r/eoxl7