Pune, Sept. 02, 2024 (GLOBE NEWSWIRE) -- Healthcare Waste Management Market Size Analysis:
“The Healthcare Waste Management Market Size was valued at USD 34.08 Billion in 2023 and is expected to reach USD 68.03 Billion by 2032 and grow at a CAGR of 8.36% over the forecast period 2024-2032.”
The healthcare waste management market has expanded significantly owing to the growth of the healthcare industry. This is in response to the increased demand for healthcare services both in developed and developing nations. The demand has resulted in the establishment of hospitals, laboratories, research centers, mortuaries, autopsy centers, blood banks, and other such points of collection. These facilities expand their activities to service their increasing client base creating a similar increase in medical waste generation. The expansion has resulted in a heightened demand for enhanced medical waste management solutions to properly handle the increased volumes emanating from the proliferation of healthcare facilities. Essentially, the growth has served to underscore the fact that proper waste management is a key issue in the medical field if public health and environmental safety are to be assured.
In developed countries like the US and UK, the rise in the number of initiatives to promote awareness and prevent improper medical waste management practices have been noteworthy. This increase takes the form of increased organization of awareness programs, as well as the organization of conferences meant to educate the participants as to the dangers of mismanaging waste. They also seek to emphasize the importance of following the provisions laid out in the existing guidelines, as well as adhering to the known best practices by urging the participants to do so Mussi. The promotion of awareness boosts to ensure that all healthcare professionals, policy developers, and the general public acquire a proclivity to responsibility ensuring that the efforts prevent harm to the environment and public health maintaining the sustainability of the developed nations.
Get a Sample Report of Healthcare Waste Management Market@ https://www.snsinsider.com/sample-request/4477
Major Players Analysis Listed in this Report are:
- Stericycle Inc.
- Remondis Medison GmbH
- Clean Harbors Inc.
- Sharp Compliance Inc.
- Suez Environnement
- Waste Management Inc.
- BioMedical Waste Solutions LLC
- Republic Services Inc.
- Daniels Sharpsmart Inc.
- Veolia Environnement S.A.
Healthcare Waste Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 34.08 Billion |
| Market Size by 2032 | US$ 68.03 Billion |
| CAGR | CAGR of 8.36% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Dynamics
Offsite segment led the market on the basis of treatment site with the largest revenue share of 59% in 2023. The growth of the segment can be attributed to the rise in the use of advanced, single-use surgical products. These products generate large volumes of medical wastage that need to be managed. The offsite treatment process allows these facilities to manage the medical leftovers to a centralized location, reducing the impact on the surroundings and compliance with regulations as well. Moreover, it also removes the burden of treatment from hospitals, diagnostic laboratories, and other waste generators. The on-site segment is expected to record a lucrative CAGR over the forecast period, as a result of the increasing implementation of advanced on-site equipment. These technologies allow healthcare facilities to treat their waste more proficiently, reducing the need to transport waste or store it for long periods. In addition to this, on-site treatment also gives the hospital real-time data on how much waste is produced and changes in waste channels can be implemented, and resources can be allocated on time.
This shift towards on-site treatment can also be attributed to the stringent regulations formed and the rising concern to minimize the impact of medical wastage on surroundings. The North American region dominated the market with a revenue share of 31% in 2023. The advanced healthcare infrastructure of North America is the key factor that is contributing to the region’s major share of the medical waste management market. In addition, the U.S and Canada have a large number of hospitals, clinics, research institutions, and pharmaceutical companies that generate medical waste on a large scale. These hospitals and facilities generate such a huge variety of medical waste, that, a specialized waste management industry is thriving.
Healthcare Waste Management Market Key Segmentation:
By Service
- Collection, transport and storage services
- Treatment & disposal services
- Recycling services
By Type of Waste
- Non-hazardous Waste
- Hazardous Waste
By Treatment Site
- Offsite
- Onsite
Do you have any specific queries or need any customization research on Healthcare Waste Management Market, Enquire Now@ https://www.snsinsider.com/enquiry/4477
Regional Insights
The largest share of the market in North America region in 2023 was accounted for by the U.S. In the country, there is a well-developed industry of waste management companies. These firms provide comprehensive solutions to the problem of waste disposal and treatment. Using modern and advanced technologies, they ensure that their operations comply with the regulations and requirements of the environment and safety, as all the hazardous materials can be safely and effectively disposed of through their management companies. Due to this, the country has highly specialized and experienced service providers and healthcare infrastructure, which make it the dominant market in the North American region.
Recent Developments
- One of the most notable cases of introducing a new initiative was in June 2023, when Cabinet Health, the developers of the refillable and compostable medicine system announced nationwide recycling of pill bottles. As pharmaceutical plastic waste presents more and more significant environmental challenges, this initiative is a promising way to eliminate them.
- In February 2023, the company EcoSteris, focused on the treatment and disposal of healthcare waste, introduced the opening of the state-of-art medical waste facility in Summerville, partnering with all types of facilities that generate such.
Key Takeaways
- The Treatment Site in the market was led by the offsite treatment in 2023, taking 59% of the revenue, and is connected with increasing single-use surgical products producing waste.
- North America took a 31% share of the market in 2023. The Expansive healthcare industry and the correspondingly large amount of generated waste can be seen as the primary reason for the high share.
Buy a Single-User PDF of Healthcare Waste Management Market Analysis & Outlook Report 2024-2032@ https://www.snsinsider.com/checkout/4477
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Volume of Medical Waste Generated, By Region
5.2 Waste Disposal Policy, By Region
5.3 Technological Advancements
6. Competitive Landscape
7. Healthcare Waste Management Treatment Market Segmentation, by Service
8. Healthcare Waste Management Treatment Market Segmentation, by Type of Waste
9. Healthcare Waste Management Treatment Market Segmentation, by Treatment Site
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
Access Complete Report Details of Healthcare Waste Management Market Outlook 2024-2032@ https://www.snsinsider.com/reports/healthcare-waste-management-market-4477
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
