Medical Waste Management Market to be Worth $17.02 billion by 2030-Exclusive Report by Meticulous Research®

According to a new market research report titled, Medical Waste Management Market by Waste Type (Non-Hazardous, Infectious, Sharps, Pharmaceutical), Service (Collection, Treatment & Disposal [Incineration, Autoclaving], Recycling), Treatment Site (Off-site, On-site), Source - Global Forecast to 2030,' published by Meticulous Research®, the global medical waste management market is projected to reach $17.02 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5350

Medical waste is the waste produced in healthcare or diagnostic activities. It can be both non-hazardous and hazardous waste. Those in contact with medical waste are potentially exposed to various risks such as trauma, infection, chemical, fire or explosion, and radioactivity. In Addition, medical waste also risks environmental pollution and contamination. With the large amount of medical waste generated by hospitals, laboratory and research centers, and nursing homes, there is a high demand for medical waste management services. The report covers various medical waste management services offered by key companies in terms of non-hazardous and hazardous waste collection, transportation and storage, treatment, and recycling. The growth of this market is driven by the increase in the volume of medical waste generated globally, stringent regulations for medical waste management, and growing government initiatives to raise awareness regarding proper medical waste disposal.

Impact of COVID-19 on the Medical Waste Management Market

The COVID-19 pandemic affected most economies around the globe. Governments imposed countrywide lockdowns and placed restrictions on social activities, travel, trade, and manufacturing. The pandemic affected millions of people across countries, burdening healthcare systems globally.
According to the WHO, in February 2022, around 30% of healthcare facilities globally were not equipped to handle medical waste loads. The global medical waste management market experienced tremendous pressure during the COVID-19 pandemic due to the high demand for healthcare waste management services. There were major concerns about the hazardous medical waste produced during the COVID-19 pandemic and the risks of contamination associated with managing that waste. According to the WHO, in 2022, an additional 10,000 tons of medical waste was generated in response to the COVID-19 pandemic. While countries were actively procuring personal protective equipment (PPE) kits, diagnostic test kits, disinfectant chemicals, and vaccines, less attention and resources were allocated to the safe and sustainable management of COVID-19-related medical waste.

The World Health Organization's global analysis of healthcare waste in the context of COVID-19 estimates that between March 2020 and November 2021, approximately 87,000 tons of PPE were procured and shipped to various countries to support COVID-19 response needs. Since the start of the pandemic till February 2022, over 140 million diagnostic test kits (that could generate 2,600 tons of medical waste and 731,000 liters of chemical waste) were shipped, and over 8 billion doses of COVID-19 vaccines were administered globally, which could potentially generate 144,000 tons of additional medical waste in the form of syringes, safety boxes, and needles (source: WHO). The companies operating in the medical waste management market were under great strain due to the huge demand for healthcare waste management services. Although these companies reported increased revenues due to high demand for COVID-19-related waste management and decontamination services, the tremendous volume of medical waste generated exceeded their waste management capacities.

Request Sample Report Here @ https://www.meticulousresearch.com/request-sample-report/cp_id=5350

According to the United Nations Development Programme's (UNDP) assessment of five Asian cities (Manila, Jakarta, Bangkok, Ha Noi, and Kuala Lumpur) conducted in April 2020, during the pandemic, the volume of medical waste generated per day increased by 497.5% on average in 2020 compared to pre-COVID-19 levels.

Medical Waste Management Market: Future Outlook
The global medical waste management market is by waste type (non-hazardous waste, hazardous waste [infectious & pathological waste, pharmaceutical waste, sharps waste, and other hazardous waste]), services (collection, transportation, & storage, treatment & disposal services [incineration, autoclaving, chemical treatment, and other treatment & disposal services], and recycling), treatment site (off-site treatment, on-site treatment) source (hospitals & clinics, diagnostic laboratories, research laboratories, blood banks, and other sources) and geography. The study also includes an analysis of the regional and country-level markets.

Based on waste type, in 2023, the non-hazardous waste segment is expected to account for the largest share of the global medical waste management market. The major factor contributing to this segment's large market share is increased surgical procedures globally. Many surgeries are performed globally that generate various types of medical waste, including non-hazardous waste such as plastic packaging, clean glass and plastic, paper, and cardboard.

Customize My Report @ https://www.meticulousresearch.com/request-customization/cp_id=5350

Although the types of non-hazardous waste generated are limited in number, they are generated in high volume, contributing to the segment's largest share. According to Eurostat, in 2020, at least 1.12 million caesarean sections were performed in the EU. For instance, a total of 637,100 caesarean sections were performed in Turkey, while 234,000 and 147,600 caesarean sections were performed in Germany and Poland, respectively (Source: Eurostat). Thus, the large number of surgeries performed is expected to boost the demand for medical waste management services.

Based on services, in 2023, the collection, transportation, and storage segment is expected to account for the larger share of the global medical waste management market. The large market share of this segment is attributed to the large volume of medical waste generated globally, which further creates demand for medical waste collection, transportation, and storage services.

Based on treatment site, in 2023, the off-site treatment segment is expected to account for the largest share of the global medical waste management market. The large market share of this segment is attributed to technological advancements in R&D activities in the healthcare sector and the high volume of medical waste generated globally, especially after the pandemic.

Buy Now @ https://www.meticulousresearch.com/Checkout/65991079

Based on source, in 2023, the hospitals & clinics segment is expected to account for the largest share of the global medical waste management market. Hospitals perform various medical procedures that generate non-hazardous and hazardous wastes. The large market share of this segment is mainly attributed to a large number of hospitals and other healthcare facilities globally and government initiatives to promote proper medical waste management. For instance, according to American Hospital Association (AHA) Hospital Statistics, 2022 edition, there are 6,093 hospitals with 920,531 staffed beds in the U.S.

Based on geography, the global medical waste management market is segmented into North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global medical waste management market. The largest share of this region is attributed to a large volume of medical waste generated, high healthcare expenditures implying high penetration of medical services, and government initiatives to raise awareness regarding proper medical waste disposal.

Key companies operating in the global medical waste management market are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), GIC Medical Disposal, Inc. (Canada).

Top 10 Industry Leaders @ https://meticulousblog.org/top-10-companies-in-medical-waste-management-market/

Office No-202, 203,204,205,206 2nd Floor, Pushpak Business Hub, Wakad, , India.

About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

This release was published on openPR.