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Medical Waste Management Market to increase by USD 3.32 billion during 2022-2027 | Growing healthcare industry to drive the growth - Technavio

NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The medical waste management market size is expected to grow by USD 3.32 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 5.5% during the forecast period. The market is segmented by type (non-hazardous and hazardous), technique (offsite treatment and onsite treatment), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing healthcare industry drives the medical waste management market. Factors like the rise in the global population and increasing healthcare needs lead to a significant increase in healthcare activities. Healthcare providers implement stringent regulations related to medical waste management. This leads to an increase in the demand for effective medical waste management solutions. Also, there is an increased demand for these services due to various healthcare facilities outsourcing their medical waste management to specialized companies. Hence, such factors boost the growth of the medical waste management market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Technavio has announced its latest market research report titled Global Medical Waste Management Market 2023-2027
Technavio has announced its latest market research report titled Global Medical Waste Management Market 2023-2027

Key Highlights:

  • The report recognizes the following as some of the key players in the medical waste management market: Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc., Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc.

  • Medical Waste Management Market is fragmented in nature.

  • Market to observe 5.0% YOY growth in 2023.

Market Dynamics:

Trend

  • Advancement in technology is an emerging trend in the medical waste management market.

  • Microwave technology and autoclaving are the development of innovative technologies, that increase the efficiency of medical waste management, reduce costs, and improve safety.

  • Innovative technologies, including microwave technology, autoclaving, and chemical treatment, are being developed and adopted to improve the efficiency and safety of medical waste management.

  • Hence, the rising adoption of advanced technology is expected to boost the growth of the global medical waste management market during the forecast period.

Challenge

  • Lack of awareness challenges the growth of the medical waste management market.

  • Healthcare providers and the general public lack awareness about the proper disposal of medical waste, which leads to improper disposal and potential health and environmental hazards.

  • Also, the improper handling of hazardous waste by such staff can directly affect their health.

  • Hence, such challenges impede market growth during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The non-hazardous segment will be significant for market growth during the forecast period. The non-hazardous segment includes plastic packaging, clean glass and plastic, paper and cardboard, and office products. In order to reduce the risk of infections to humans, medical waste needs to be disposed of properly, increasing the demand for medical waste management. Hence, such factors boost the segment growth during the forecast period. Get a glance at the market contribution of the segments, Request a Free Sample report 

Related Reports:

The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million.

The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion.

Medical Waste Management Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.5%

Market growth 2023-2027

USD 3.32 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.0

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Micro Devices Inc., All Medical Waste Australia Pty Ltd., BioMedical Waste Solutions LLC, BWS Inc., Casella Waste Systems Inc., Clean Harbors Inc., Daniels Health, EcoMed Services, EPCO, Gamma Waste Systems, GIC Medical Disposal Inc., GRP and Associates Inc., Hawaii Bio Waste Systems Inc., Larson Miller Inc., MEDPRO Disposal LLC, Stericycle Inc., Trilogy MedWaste Inc., Triumvirate Environmental, Veolia Environnement SA, and Waste Management Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Technique

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

Global Medical Waste Management Market 2023-2027
Global Medical Waste Management Market 2023-2027
Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/medical-waste-management-market-to-increase-by-usd-3-32-billion-during-2022-2027--growing-healthcare-industry-to-drive-the-growth---technavio-301927200.html

SOURCE Technavio

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