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Nov 09, 2023

Medical Waste Disposal Market size is set to grow by USD 3,323.84 million from 2022 to 2027; Growing healthcare industry to boost the market

News provided by 31 May, 2023, 17:45 ET Share this article NEW YORK, May 31,

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31 May, 2023, 17:45 ET

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NEW YORK, May 31, 2023 /PRNewswire/ -- The global medical waste disposal market size is estimated to grow by USD 3,323.84 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.5% , however, the growth momentum will progress during the forecast period. North America is estimated to account for 36% of the global market growth during the forecast period. Medical waste management is mandatory in the region because medical waste can contain infectious agents such as bacteria, viruses, and other harmful substances that can cause serious illness. Moreover, medical waste can be harmful to the environment if not disposed of properly. To protect public health and safety, comply with regulatory requirements, and fulfill legal and ethical obligations. Hence, the adoption of medical waste management is increasing in North America, which is expected to positively impact the growth of the regional market in focus during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

Medical Waste Disposal Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on type (non-hazardous and hazardous), technique (offsite treatment and onsite treatment), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Medical Waste Disposal Market – Market Dynamics

Key factor driving market growth

Leading trends influencing the market

The adoption of sustainable and eco-friendly solutions is an emerging trend in the global medical waste disposal market. Adopting sustainable and eco-friendly solutions for medical waste requires a comprehensive approach that involves all stakeholders, including healthcare facilities, recycling companies, and hazardous waste disposal companies.

Various medical devices and equipment can be recycled such as metal utensils, glass syringes, and plastic containers. To address this issue, hospitals and clinics work with recycling companies to properly dispose of these items and reduce the amount of waste that goes to landfills. Hence, such factors boost market growth during the forecast period.

Major challenges hindering the market growth

A major challenge for medical waste management is a lack of infrastructure, including proper waste collection, transportation, and disposal facilities. The costs associated with environmental and health problems resulting from poor waste management practices can be significant.

This results in waste being improperly disposed of or ending up in uncontrolled dumps, and limited treatment, and disposal options, leading to environmental contamination and health hazards. Hence, the lack of proper infrastructure is expected to be a major challenge for the medical waste management market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

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Medical Waste Disposal 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 3,323.84 million

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, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

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 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.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Technique

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio