"The best-in-class Medical Waste Management Market research report provides comprehensive insights into the Medical Waste Management Market industry based on business intelligence. Businesses can leverage this market report to gain superior expertise on the best market opportunities in their relevant markets. The report assesses market potential for each geographical region, considering growth rates, macroeconomic parameters, consumer buying patterns, product preferences, and market demand and supply scenarios. The reliable Medical Waste Management Market business report estimates CAGR values for the Medical Waste Management Market industry, indicating its rise or fall for the forecast period of 2021 to 2028.
The Global Medical Waste Management Market report is crafted using integrated approaches and the latest technology, yielding optimal results. This market report highlights categorization by companies, region, type, and end-use industry. The report meticulously studies and analyzes facts and figures about market segmentation, presenting them in the form of graphs for better end-user understanding. Businesses can utilize this information and data to make informed decisions about business strategies and achieve maximum return on investment (ROI). The Medical Waste Management Market analysis document provides insights into CAGR value fluctuations with respect to the rise or fall for the defined forecast period.
India created roughly 45,308 tonnes of biomedical waste between June 2020 and May 2021, according to the Central Pollution Control Board (CPCB), due to an increase in the usage of various diagnostic procedures and the treatment of COVID-19 patients. Growing awareness about effective medical waste management is a step ahead in reducing the hospital waste burden on the land. Many initiatives have been undertaken in the recent past to address the seriousness of the issue.
Data Bridge Market Research analyses that the medical waste management market, which was USD 9.06 billion in 2022, is expected to reach USD 14.49 billion by 2030, at a CAGR of 6.05% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Explore Further Details about This Research Medical Waste Management Market Report https://www.databridgemarketresearch.com/reports/global-medical-waste-management-market
Medical Waste Management Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Type of Waste (Hazardous Waste, Non-Hazardous Waste), Service Type (Collection, Transportation and Storage, Treatment and Disposal, Recycling, Others), Treatment Type (Incineration, Autoclaving, Chemical Treatment, Irradiative, Biological, Others), Treatment Site (Offsite, Onsite), Category (Controlled, Uncontrolled), Source of Generation (Hospitals, Physician Offices, Clinical Laboratories, Manufacturers, Reverse Distributors) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Stericycle Inc. (U.S.), Veolia Environnement SA (France), SUEZ (France), CLEAN HARBORS, INC. (U.S.), WM Intellectual Property Holdings, L.L.C (U.S.), Republic Services, Inc. (U.S.), REMONDIS SE & Co. KG (Germany), BioMedical Waste Solutions, LLC. (U.S.), Ecomed Services (Canada), Triumvirate Environmental (U.S.), BWS Incorporated (U.S.), MEDPRO Disposal, LLC (U.S.), Gamma Waste Services (U.S.), Daniels Sharpsmart, Inc. (U.S.), Casella Waste Systems, Inc. (U.S.) |
Market Opportunities |
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The handling of biomedical waste using various services, including autoclaving, chemical treatment, and burning, is referred to as medical waste management. Medical waste is the byproduct of hospitals, laboratories, the research sector, and surgery centres. Medical waste management ensures correct collection, storage, treatment, and disposal of biological waste to maintain the safety of the general populace, animals, and environment.
Medical Waste Management Market Dynamics
Drivers
- Growing support by the government will drive the market growth
Increased initiatives by the governments towards effective management of medical waste is fostering the growth of the market on a global scale. For instance, the United States Environmental Protection Agency signed a regulation in 2019 titled "Management Standards for Hazardous Waste Pharmaceuticals and Amendment to the P075 Listing for Nicotine," which specifies streamlined guidelines for managing waste from hazardous pharmaceuticals. Additionally, increased funding for research initiatives and extensive use of biomedical goods and technology drive market expansion.
- Growing patient population is a direct market growth determinant
The number of patients is rising due to population growth around the world, which is increasing the amount of medical waste produced. Governments all around the world are therefore implementing new measures to address the problem as a result of the rise in medical waste. To offer official and obligatory guidelines for managing medical waste, the Ministry of Environment and Forests (MoEF) in India introduced the Medical Waste Management and Handling Rules, 1998, and the Bio-Medical Waste (Management and Handling) (Amendment) Rules, 2003. The Central Pollution Control Board has also published Central Medical Waste Treatment Plans (CBWTF) guidelines.
Opportunities
- Pandemic acted as a market opportunity
The ongoing COVID-19 pandemic has fueled the importance of effective medical waste management. The amount of medical waste produced by healthcare facilities has significantly increased as a result of the rise in populations with coronavirus infections. Medical waste linked to COVID-19 should be disposed of with extra caution because improper incineration could spread the virus. Numerous authorities around the world have developed waste disposal strategies in response to the increase in medical waste generation during the outbreak.
- Growth offered by the emerging economies
The medical waste management business has benefited enormously from the developed economies of the U.S. and Europe. These markets have a superior overall penetration rate. As a result, industry participants in medical waste management are increasingly focusing on underserved regions in developing nations. Due to their expanding healthcare infrastructures, ageing populations with chronic and infectious diseases, and initiatives to improve medical waste management, emerging nations in Asia and Latin America like India, China, Brazil, and Singapore present enormous growth opportunities.
Table of Contents:
- Medical Waste Management Market Overview
- Economic Impact on Industry
- Competition by Manufacturers
- Production, Revenue (Value) by Region
- Supply (Production), Consumption, Export, Import by Regions
- Production, Revenue (Value), Price Trend by Type
- Market by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Medical Waste Management Market Strategy Analysis, Distributors/Traders
- Medical Waste Management Market Effect Factors Analysis
- Medical Waste Management Market Forecast
- Appendix
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