Dublin, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The "Medical Waste Management Global Market Report 2021: COVID-19 Implications and Growth to 2030" report has been added to ResearchAndMarkets.com's offering.
The global medical waste management market is expected to grow from $14.17 billion in 2020 to $14.56 billion in 2021 at a compound annual growth rate (CAGR) of 2.8%. The market is expected to reach $18.18 billion in 2025 at a CAGR of 6%.
Major players in the medical waste management market are Waste Management (WM), Citiwaste, Sanpro Waste, MedPro Waste Disposal, Sharps Compliance, BioServeUSA, BioMedical Waste Solutions, PureWay Total Compliance, Medasend, and Veolia Environnement.
The medical waste management market consists of the revenue generated from establishments providing services that include collection, transportation, storage, treatment, disposal, and recycling of waste. Biomedical waste is generated during the diagnosis, treatment, and immunization of human beings or other living beings from healthcare facilities.
The medical waste management market covered in this report is segmented by type into bio-hazardous/infectious waste, non-hazardous waste, sharps, pharmaceutical, radioactive, others. It is also segmented by treatment into incineration, autoclaving, chemical treatment, others; by services into onsite services, offsite services and by the waste generator into hospitals, clinics, ambulatory surgical centers, pharmaceutical companies, biotechnology companies, others.
Low awareness among developing countries is limiting the growth of the medical waste management market. Inadequate knowledge of healthcare professionals and sanitation health workers on biomedical waste regulations and medical waste management protocols is causing improper segregation of waste which is leading to increased hazardous waste, needle prick injuries and infections like hepatitis which is increasing the load on the medical waste management companies. Infectious waste (or hazardous medical waste) constitutes around 15 to 25% of total healthcare waste. Therefore, such a lack of awareness in developing countries is hindering the growth of the medical waste management market.
In 2019, Waste Management, Inc. is a US-based waste management, comprehensive waste, and environmental services company acquired Advanced Disposal Services, Inc. for $4.6 billion.
The acquisition increases Waste Management's footprint and enables the company to produce an unparalleled way to differentiated, sustainable waste management and recycling services to about 3 million new commercials, industrial and residential consumers primarily located in 16 states in the eastern half of the US. Advanced Disposal is a US-based company that makes new ideas and solutions to the business of a clean environment.
The rise in the use of disposable medical products in healthcare facilities is expected to drive the medical waste management market. In a healthcare setting, most of the products used are meant for single-use to limit cross-contamination among patients and decrease hospital-acquired infection.
The use of single-use or disposal products surged due to the COVID-19 pandemic outbreak. The widely used disposables like surgical gloves, disposable bed sheets, masks, surgical gowns, syringes, intravenous saline bags, and others account for most of the hospital waste. Therefore, the rise in the use of disposable medical products is expected to drive the medical waste management market.
Recycling is expected to become a key trend in medical waste management. The ongoing medical supplies shortage due to the COVID-19 pandemic has resulted in the need for more sustainable and recycling of medical products. Battelle Critical Care Decontamination System, which was approved in April 2020 by Food and Drugs Administration (FDA), uses hydrogen peroxide for decontamination of N95 respirators and PPE kits.
Key Topics Covered:
1. Executive Summary
2. Medical Waste Management Market Characteristics
3. Medical Waste Management Market Trends and Strategies
4. Impact Of COVID-19 On Medical Waste Management
5. Medical Waste Management Market Size and Growth
5.1. Global Medical Waste Management Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Medical Waste Management Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Medical Waste Management Market Segmentation
6.1. Global Medical Waste Management Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Bio-hazardous/Infectious waste
- Non-hazardous waste
- Sharps
- Pharmaceutical
- Radioactive
- Others
6.2. Global Medical Waste Management Market, Segmentation by Treatment, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Incineration
- Autoclaving
- Chemical treatment
- Others
6.3. Global Medical Waste Management Market, Segmentation by Services, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Onsite services
- Offsite services
6.4. Global Medical Waste Management Market, Segmentation by Waste generator, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospitals
- Clinics
- Ambulatory surgical centres
- Pharmaceutical Companies
- Biotechnology Companies
- Others
7. Medical Waste Management Market Regional and Country Analysis
7.1. Global Medical Waste Management Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Medical Waste Management Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Waste Management (WM)
- Citiwaste
- Sanpro Waste
- MedPro Waste Disposal
- Sharps Compliance
- BioServeUSA
- BioMedical Waste Solutions
- PureWay Total Compliance
- Medasend
- Veolia Environnement
- Clean Harbors
- EnviCare
- Battelle
For more information about this report visit https://www.researchandmarkets.com/r/tst7r4
