According to the new market research report“Medical Waste Management Marketby Service (Collection, Treatment, Disposal, Incineration, Recycling), Type of Waste ( (Non-Hazardous, Infectious, Pharmaceuticals), Treatment Site (Offsite, Onsite), Waste Generator (Hospitals) – Global Forecast to 2025″, published by MarketsandMarkets
, the Medical Waste Management Marketis projected to ReachUSD 9.0 billionby 2025 fromUSD 6.8 billionin 2020, at a CAGR of 5.6% from 2020 to 2025.
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The increasing volume of healthcare waste and the growing geriatric and obese populations are the major factors driving the growth of the global Medical Waste Management Market. However, hospitals, healthcare institutes, and pharmaceutical companies have to make significant investments for the collection and processing of waste in an appropriate manner so as to reduce environmental pollution. This, coupled with the low awareness in developing countries, is expected to affect the growth of this market during the forecast period.
Collection, transportation, and storage services accounted for the largest share of the market, by service, in 2019
Based on service, the market is segmented into collection, transportation, and storage services; treatment & disposal services; and recycling services. The collection, transportation, and storage services segment accounted for the largest market share in 2019. This can be primarily be attributed to the presence of stringent regulations for the collection, transportation, and storage of medical waste.
Browsein-depth TOC on“Medical Waste Management Market“
130 – Tables
33 – Figures
146 – Pages
Offsite treatment segment accounted for the largest share of the Medical Waste Management Market, by treatment site, in 2019
Based on the treatment site, the market is segmented into offsite and onsite treatment. The offsite treatment segment accounted for the largest market share in 2019. The high cost associated with onsite treatment is a major factor compelling hospitals and other facilities to opt for the offsite treatment of medical waste.
Hospitals & diagnostic laboratories are the major generators of medical waste
Hospitals and diagnostic laboratories are the major generators of medical waste. This is primarily attributed to the high and growing number of surgeries performed in hospitals. Some of the other generators of medical waste include biotechnology laboratories, medical research & academic institutions, blood banks & blood bank collection services, and nuclear medicine laboratories.
North Americawas the largest regional market for medical waste management in 2019
The global Medical Waste Management Market is segmented intoNorth America,Europe, theAsia Pacific, and the Rest of the World. In 2019,North Americaaccounted for the largest share of this market, followed byEurope. This is majorly attributed to the presence of stringent regulations for medical waste management and the high and growing number of surgical procedures performed in the region.
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The prominent players operating in the global Medical Waste Management Market include Stericycle (US), Veolia Environnement S.A. (France), Suez Environnement (France), Clean Harbors (US), REMONDIS AG & Co. KG (Germany), Sharps Compliance, Inc. (US), Waste Management, Inc. (US), BioMedical Waste Solutions, LLC (US), Daniels Sharpsmart, Inc. (Australia), Republic Services, Inc. (US), EcoMed Services (US), GRP & Associates (US), BWS Incorporated (US), MedPro Disposal (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental (US), EPCO (Saudi Arabia), Casella Waste Systems, Inc. (US), & All Medical Waste Australia Pty Ltd. (Australia).
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Mr. Ashish Mehra
MarketsandMarkets
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Northbrook, IL 60062
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Contact Information:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
