Dublin, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The "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 2027" report has been added to ResearchAndMarkets.com's offering.
The global medical waste management market is projected to reach USD 12.6 billion by 2027 from USD 9.6 billion in 2022, at a CAGR of 5.6%
Market growth is driven by factors such as increase in traumatic and burn injuries, increased in number of surgical wounds and increased hospital stays. On the other hand, challenges associated with medical waste management services is lack of awareness about medical waste management in developing countries is the major factors hampering the growth of this market.
The collection, transport and storage services segment accounted for the highest growth rate in the medical waste management market, by services, during the forecast period
The medical waste management market is segmented into collection, transport and storage services, treatment & disposal services and recycling services.
In 2021, the collection, transport and storage services segment accounted for the highest growth rate in the medical waste management market. Increase in need of extensive care for increased traumatic and surgical injuries are major factor contributing to the growth of this segment.
The non-hazardous waste segment accounted for the highest growth rate in the medical waste management market, by type of waste, during the forecast period
The medical waste management market is segmented into non-hazardous waste and hazardous waste based on type of waste. In 2021, the non-hazardous waste segment accounted for the highest growth rate in the medical waste management market. Increasing number of diabetic patients and other health conditions are major factors contributing to the growth of this segment.
Offsite treatment segment accounted for the highest share
Based on treatment site, the medical waste management market has been segmented into offsite treatment and onsite treatment. In 2021, the offsite treatment segment accounted for the highest CAGR. This can be attributed to the increasing number of surgeries and increased hospitalization.
Hospital & diagnostic laboratories segment accounted for the highest share
Based on waste generator, the medical waste management market has been segmented into hospital & diagnostic laboratories and other waste generators. In 2021, the hospital & diagnostic segment accounted for the highest CAGR. This can be attributed to the rising adoption of single use surgical equipments.
Asia Pacific: The fastest-growing region in medical waste management market
The global medical waste management market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising focus on spreading awareness of medical waste management and increased focus on patient care are driving the growth of the medical waste management market in this region.
Competitive landscape
Prominent players in the medical waste management market include Stericycle, Inc. (US), Suez Environnement S.A. (France), Veolia Environnement S.A. (France), BioMedical Waste Solutions, LLC (US), Clean Harbors, Inc. (US), Daniels Sharpsmart, Inc. (US), REMONDIS Medison GmbH (Germany), Republic Services, Inc. (US), Sharps Compliance, Inc. (US), and Waste Management, Inc. (US).
Premium Insights
- Increasing Volume of Healthcare Waste to Drive Market
- Collection, Transportation, and Storage Services Segment to Dominate Market by 2027
- Non-Hazardous Waste Segment Will Continue to Dominate Market During Forecast Period
- Offsite Treatment Segment to Account for Larger Market Share in 2022
- Hospitals and Diagnostic Laboratories Dominate Medical Waste Management Market
- Asia-Pacific to Register Fastest Growth in Forecast Period
Market Dynamics
Drivers
- Increasing Volume of Healthcare Waste
- Growing Geriatric and Obese Population
- Rising Number of Surgical Procedures
Restraints
- High Capital Investments
Opportunities
- Increasing Number of Medical Waste Management Awareness Programs in Developed Countries
- Rising Adoption of Single-Use Medical Nonwovens and Devices
Challenges
- Lack of Awareness About Medical Waste Management in Developing Countries
Patent Analysis
- List of Major Patents
Value Chain Analysis
- Supply Chain Analysis
- Ecosystem/Market Map
- Medical Waste Management Market: Role in Ecosystem
Porter's Five Forces Analysis
Company Profiles
Key Players
- Republic Services, Inc.
- Veolia Environnement S.A.
- Waste Management, Inc.
- Clean Harbors, Inc.
- Stericycle, Inc.
- Sharps Compliance, Inc.
- Remondis Se & Co. Kg
- Biomedical Waste Solutions, LLC
- Daniels Sharpsmart Inc.
- Ecomed Services
- Grp & Associates, Inc.
- Bws Incorporated
- Medpro Disposal, LLC
- Gic Medical Disposal
Other Players
- Gamma Waste Services
- Triumvirate Environmental
- Epco
- All Medical Waste Australia Pty Ltd.
- Casella Waste Systems, Inc.
- Pro-Disposal Inc.
- Sso Medical Waste Management
- Safeguard Waste Solutions
- Medwaste Industries, Inc.
- Dulsco
For more information about this report visit https://www.researchandmarkets.com/r/u6efbk
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