Market research covered in this Medical Waste Management Market report helps the management of a firm in planning by providing accurate and up-to-date information about the consumer’s demands, their changing tastes, attitudes, preferences, buying intentions, etc. This research aids in correlative relationships between the product brand and consumers’ needs and preferences. Additionally, this report brings into light key market dynamics of the sector. The competitive landscape section of the report gives a clear insight into the market share analysis of key industry players.
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The company profiles of all the major market players and brands that are dominating the Medical Waste Management Market with moves like product launches, joint ventures, merges, and accusations which in turn are affecting the sales, import, export, revenue, and CAGR values have been cited in the report. The study consists of a market attractiveness analysis, wherein each segment is benchmarked based on its market size, growth rate, and general attractiveness.
The research further covers segments such as product type, market share, availability on-premises, and end-users type, and availability in geographical regions such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. The dedicated section on the opportunities and challenges ahead of Medical Waste Management Market participants is a valuable addition to this report. The section is capable of improving business knowledge about the latest innovations and needed improvisation to keep the market position intact with time in the forecast period 2023- 2032.
The global medical waste management market, which projects market growth at a CAGR of 6.2% from 2021 to 2028. Revenue from medical waste management services accounted for US$ 15.3 Bn in 2020, and is estimated to surge to US$ 25.2 Bn by the end of 2028.
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Key segments covered
- type of waste
- Non-hazardous waste
- Hazardous waste
- type of waste
- Sharp S
- Infectious and pathological waste
- Radioactive waste
- pharmaceutical waste
- Non-infectious waste
- Waste producer type
- Waste generators for large quantities:
- Hospitals (private & public)
- pharmaceutical and biotechnology companies
- Waste generators for medium and small quantities:
- Clinics & medical practices
- retail pharmacy
- Ambulatory surgical centers and long-term care centers
- Laboratories (pathological & diagnostic)
- Academic and research institutions
- blood banks
- Waste generators for large quantities:
- service type
- Waste disposal on site
- External waste disposal
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Prominent players in the global medical waste management market are leveraging partnerships with governments, consultancies and other medical waste management service providers to increase their market presence.
- On June 7, 2021, Cambodia, in cooperation with UNDP, will launch a new medical waste disposal project under the South-South Cooperation Assistance Fund (SSCAF) with support from China to gain experience and expertise in infectious waste management
- On April 1, 2021, Aurora Capital Partners announced the acquisition of Curtis Bay Medical Waste Services, an industry leader in medical waste collection, disposal and treatment. This acquisition will allow the company to gain a foothold in the market.
- On August 18, 2020, OnSite Waste created a portable sharps and red bag waste treatment unit that allows growers to process waste in their own facilities, eliminating the need to hire contractors to process and dispose of hazardous waste. About 15% residue remains after the three-hour process, which can be recycled as municipal solid waste.
Key insights from the Medical Waste Disposal market study:
- By its very nature, non-hazardous medical waste is expected to account for a large portion of the medical waste disposal market. The segment is poised to capture nearly 70% market share during the forecast period.
- By waste type, the infectious waste segment is expected to grow the fastest at a CAGR of 6.0%. This is attributed to the growing prevalence of infectious diseases such as SARS, hepatitis, tuberculosis and influenza. However, the non-infectious segment will remain dominant due to the rising prevalence of chronic diseases as the population ages rapidly.
- After waste producers, large volume waste producers are poised to remain at the forefront of the medical waste producer market. Hospitals represent the largest portion of medical waste generators due to the large amount of surgical procedures that take place in a day.
- By type of service, off-site waste management will become more important due to strict government regulations and an increased burden of healthcare spending. Major healthcare institutions have outsourced their waste management to external parties.
- At a regional level, North America is set to dominate the market, capturing a nearly 40% market share, while Asia-Pacific is expected to have significant leverage. Strict health regulations improve prospects for medical waste disposal in North America, while rapidly developing health infrastructure is driving growth in Asia Pacific.
Report Benefits & Key Questions Answered
- Medical Waste Management Category and Segment Level Analysis: Fact MR provides a detailed analysis of the factors affecting revenue growth in key segments. It highlights key growth drivers and provides useful information for identifying sales opportunities at regional and local level.
- Medical Waste Management Historical Volume Analysis : The report provides a comparison of Medical Waste Management historical sales to forecast sales performance for 2021-2031.
- Medical Waste Disposal Manufacturing Trends Analysis : The report provides a detailed analysis of the manufacturing trends in Medical Waste Disposal market. It carefully measures the impact of the changing health needs of key demographic groups worldwide
- Medical Waste Disposal Consumption by Demographics: The report examines consumer behavior affecting the demand prospects of Medical Waste Disposal for the assessment period. The impact of their readiness for digital trends on Medical Waste Disposal market is carefully analyzed
- Post- COVID Consumer Spending on Medical Waste Disposal: The healthcare industry has been heavily impacted by the COVID-19 pandemic. The Fact MR market survey analyzed consumer spending after COVID-19. It assesses how current trends will impact healthcare spending and thereby the growth of the Medical Waste Disposal market.