According to MarketsandMarkets™, The report "Medical Waste Management Market by Service (Collection, Treatment, Disposal, Incineration, Recycling), Type of Waste (Non-hazardous, Infectious, Pharmaceutical), Treatment Site (Offsite, Onsite), Waste Generator (Hospital, Labs) - Global Forecast to 2028", is valued at an estimated USD 9.2 billion in 2023 and is projected to reach USD 12.2 billion by 2028, at a CAGR of 5.9% during the forecast period.
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- 235 Market Data Tables
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- 231 Pages and in-depth TOC on " Medical Waste Management Market - Global Forecast to 2028”.
Some of the prominent key players are:
- Stericycle (US),
- Veolia Environnement S.A. (France),
- Sharps Compliance, Inc. (US),
- Waste Management, Inc. (US),
- Clean Harbors, Inc. (US),
- REMONDIS SE & CO. KG. (Germany), and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Medical Waste Management Market.
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- The medical waste management market is segmented into collection, transport and storage services, treatment & disposal services and recycling services. The highest growth rate of the market is accounted by collection, transport and storage services.
- Based on type of waste, the medical waste management market is divided into non-hazardous waste and hazardous waste. In 2022, the non-hazardous waste segment is estimated to ghave highst CAGR of the medical waste management market.
- Medical waste management has been segmented into offsite treatment and onsite treatment based on treatment site. Offsite treatment segment accounted for the largest share of the medical waste management market in 2022 as well as is estimated to have highest growt rate.
- The medical waste management maket is segmented into hospital & diagnostic laboratories and other waste ganeratoes, based on waste generator. Hospital & diagnostic laboratories segment held the largest share of the medical waste management makrte in 2022.
- The global medical waste management market is segmented into six major regions—North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. North America accounted for the largest regional market for medical waste management market in 2022.
The increase in investments by research centers, increased number of hospitals, research laboratiories, diagnostic laboratories generating a huge amount of medical waste, improving focus on reducing the medical waste and proper management of medical waste has expected to increase the medical waste management market. Moreover the advancements in the medical waste management technologies like incineration, auto cloaving and rising demand of these technologies combined with stringent government regulations for the disposal of medical waste in various countries for controlling the spread of infections and growing focus on the hazardous impact of medical waste on the environment will also support the growth of this market.
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