Medical Waste Management Market Report 2023: Stringent Regulations on Medical Waste Bolster Sector

DUBLIN, May 4, 2023 /PRNewswire/ -- The "Medical Waste Management Market by Waste Type (Non-Hazardous, Infectious, Sharps, Pharmaceutical), Service (Collection, Treatment & Disposal [Incineration, Autoclaving], Recycling), Treatment Site (Off-site, On-site), Source - Global Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The growth of this market is driven by the increase in the volume of medical waste generated, stringent regulations for medical waste management, and the growing number of surgical procedures.

Additionally, the growing utilization of single-use devices and emerging economies offer opportunities for market growth. However, the lack of standardized regulations for medical waste management is restraining the market growth. Additionally, a lack of awareness regarding medical waste management in developing countries is challenging market growth.

Based on waste type, the global medical waste management market is segmented into non-hazardous and hazardous waste. In 2023, the non-hazardous segment is expected to account for a larger share of the market.

Based on service, the market is segmented into collection, transportation, and storage; treatment & disposal services; and recycling. In 2023, the collection, transportation, and storage segment is expected to account for the largest share of the market. The key factors attributing to the segment's large share are the high volume of medical waste generated from healthcare facilities and high awareness regarding the collection, transportation, and storage of medical waste. Further, during and post-COVID-19 pandemic, the importance of transporting various medical waste from storage to disposal areas increased considerably, supporting the largest share.

Based on treatment site, the market is segmented into off-site and on-site treatment sites. In 2023, the off-site treatment segment is expected to account for the largest share of the global medical waste management market. The large market share of this segment is mainly attributed to the advantages of off-site treatment, such as less manpower requirement for handling and disposal of medical waste and cost efficiency offered by the treatment and disposal of medical waste.

Based on source, the global medical waste management market is segmented into hospitals & clinics, diagnostic laboratories, research laboratories, blood banks, and other sources. In 2023, the hospitals & clinics segment is expected to account for the largest share of the global medical waste management market. Hospitals generate various types of waste, including hazardous and non-hazardous. Hospital waste generally includes expired pharmaceuticals, infectious, needles, chemicals, radioactive items, and sharps, in addition to the items such as packages of medical items and medication boxes and others.

An in-depth analysis of the geographic scenario of medical waste management provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2023, North America is estimated to account for the largest share of the medical waste management market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The large volume of medical waste generated, environmental awareness regarding medical waste management, and the presence of policies for regulating the same are the factors contributing to the large market share of this region.

Some of the key players operating in the global medical waste management market report are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), GIC Medical Disposal, Inc. (Canada).

Scope of the Report

Global Medical Waste Management Market, by Waste Type

• Non-hazardous Waste
• Hazardous Waste
• Infectious & Pathological Waste
• Pharmaceutical Waste
• Sharps Waste
• Other Hazardous Waste

(Note: Other hazardous waste includes chemical and radioactive waste)

Global Medical Waste Management Market, by Service

• Collection, Transportation, and Storage
• Treatment & Disposal Services
• Incineration
• Autoclaving
• Chemical Treatment
• Other Treatments & Disposal Services
• Recycling

(Note: Other treatment and disposal services include electro-pyrolysis, irradiation, and vitrification)

Global Medical Waste Management Market, by Treatment Site

• Off-site treatment
• On-site Treatment

Global Medical Waste Management Market, by Source

• Hospitals & Clinics
• Diagnostic Laboratories
• Research Laboratories
• Blood Banks
• Other Sources

(Note: Other sources include mortuary and autopsy centers; long-term care facilities; nursing homes; veterinary practices; dialysis centers; and radiation centers)

Global Medical Waste Management Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• Japan
• China
• India
• Rest of APAC (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Volume of Medical Waste Generated
4.2.1.1. Rising Geriatric Population and the Consequent Increase in Chronic Disease Prevalence
4.2.2. Growing Number of Surgical Procedures
4.3. Restraints
4.3.1. Lack of Standardized Regulations for Medical Waste Management
4.3.2. High Cost of Waste Management Services
4.4. Opportunities
4.4.1. Growing Utilization of Single-use Devices
4.4.2. Emerging Economies
4.5. Challenges
4.5.1. Lack of Awareness Regarding Medical Waste Management in Developing Countries
4.6. The Impact of COVID-19 on The Medical Waste Management Market
4.7. Regulatory Analysis
4.7.1. U.S.
4.7.2. Europe
4.7.3. China
4.7.4. India
4.7.5. South Africa

5. Global Medical Waste Management Market, by Waste Type

6. Global Medical Waste Management Market, by Service

7. Global Medical Waste Management Market, by Treatment Site

8. Global Medical Waste Management Market, by Source

9. Medical Waste Management Market, by Geography

10. Competitive Landscape

11. Company Profiles (Business Overview, Financial Overview, Solutions Portfolio, and Strategic Developments)

12. Appendix

Companies Mentioned

• Biomedical Waste Solutions LLC
• Clean Harbors Inc.
• Daniels Sharpsmart Inc.
• Stericycle Inc.
• Veolia Environnement SA
• Waste Management Inc.
• EcoMed ServicesGamma Waste Services
• REMONDIS SE & CO. KG
• GIC Medical Disposal Inc. .

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

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