Medical Waste Management Market Expected to Garner $16,395.80 Million in the 2021-2028 Timeframe, Growing at 7.0% CAGR

The global medical waste management market is predicted to rise at a tremendous CAGR of 7.0%, thereby garnering a revenue of $16,395.80 million in the 2021-2028 timeframe.

The global medical waste management market is anticipated to grow tremendously by 2028, mainly due to the increasing volume of medical waste from the global healthcare sector. The North America region is expected to be the most lucrative by 2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/421

𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

𝐃𝐫𝐢𝐯𝐞𝐫𝐬: The growing volume of medical waste, especially from the global healthcare sector, is predicted to drive the medical waste management market in the forecast period. Additionally, various governments across the world have enacted stringent policies to manage this large volume of medical waste, which is expected to boost the market further.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Increasing geriatric population of the world, which is the main reason behind the growth in the volume of medical waste, is expected to provide massive growth opportunities to the market in the analysis timeframe. Moreover, government regulations to dispose of medical waste are predicted to push the market forward.

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬: Market analysts are however skeptical about the full-paced growth of this market owing to the high cost of medical waste management services, which might prove to be a restraint for the medical waste management market.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The medical waste management market, however, experienced a massive surge in its growth rate. The immense scale of hospitalizations that resulted due to the pandemic led to a huge growth in the generation of medical waste. Also, since Covid-19 is an infectious disease, it was of paramount importance that the medical waste generated was being managed properly. Both these factors helped in the growth of the market during the pandemic years.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the medical waste management market into certain segments based on type, service, treatment site, and region.

By type, the non-hazardous sub-segment is expected to have the fastest growth rate and garner a substantial revenue of $13,900.22 million by 2028. The increasing number of out-patient visits to hospitals and clinics, especially from those suffering from chronic diseases like diabetes, is anticipated to become the primary growth driver of the market in the forecast period.


By service, the collection and transportation sub-segment of the medical waste management market is expected to have the highest CAGR and register a revenue of $5,356.74 million by 2028. Growth in number of people suffering from high blood pressure has resulted in an increased footfall in hospitals, diagnostic centers, and clinics. This is expected to become the leading reason behind the projected surge in this sub-segment in the coming years.


By treatment site, the offsite treatment sub-segment is expected to witness the fastest growth rate and garner a substantial revenue of $10,050.04 million by 2028. Increasing waste generated by hospitals and diagnostic centers, coupled with growth in other market players like collection and transportation facilitators is expected to help this sub-segment grow in the forecast period.


By region, the medical waste management market in North America region is predicted to generate the maximum revenue and register $7,099.38 million by 2028. Presence of large number of hospitals and clinics along with strict government regulations to dispose of the medical waste are expected to help the market in this region to grow substantially in the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/421

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Some of the prominent players of the medical waste management market are Daniels Health Inc., Remondis Medison, Stericycle, Inc., Biomedical Waste Solutions, LLC, Republic Services, Inc., Veolia Environmental services, EcoMed Services, Suez Environmental Services, Waste Management, Inc., and Clean Harbors, Inc., among others. These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.

The report also summarizes many crucial aspects of the medical waste management market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.

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