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Surge In Disposable Medical Products Fuels Growth Of The Medical Waste Management Market: Powering Innovation and Expansion in the Medical Waste Management Market by 2025
Medical Waste Management
Medical Waste Management Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past several years, there has been a consistent increase in the size of the medical waste management market. The market value is set to rise from $18.91 billion in 2024 to $19.79 billion in 2025, showcasing a compound annual growth rate (CAGR) of 4.6%. This notable escalation during the historic period can be credited to the rising significance of efficient waste management, coupled with the expanding government efforts towards proper disposal of medical waste.
Medical Waste Management Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, substantial growth is anticipated for the medical waste management market, expected to surge to $24.32 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 5.3%. The evident increase in the usage of disposable medical items, the implementation of new protocols by leading industry participants, innovative solutions, and the growing amount of medical waste are all contributing to this potential market expansion. Key trends for the forecast period encompass the integration of novel treatment methods, the use of emerging technologies such as microwaving, the launch of new recycling services, partnerships and business acquisitions, and a shift towards eco-friendly waste treatment processes.
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What Are the Drivers Transforming the Medical Waste Management Market?
The anticipated growth in the medical waste management market is attributed to the increased utilisation of disposable medical supplies in healthcare establishments. To mitigate cross-contamination risks among patients and reduce instances of hospital-acquired infections, most products used in medical environments are single-use. The COVID-19 pandemic has led to a pronounced increase in the usage of such disposables, including surgical gloves, disposable bed sheets, masks, surgical gowns, syringes, intravenous saline bags, and so forth which constitute the majority of hospital waste. Consequently, the escalating use of disposable medical items is forecasted to fuel the expansion of the medical waste management market.
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What Long-Term Trends Will Define the Future of the Medical Waste Management Market?
In August 2023, Hipac, a healthcare solutions company from Australia, formed a collaboration with Bertin Technologies for an unknown sum. This alliance empowers Hipac to launch Sterilwave, symbolizing a pioneering and environmentally responsible method for handling biomedical waste, which is now accessible to healthcare institutions across Australia. Bertin Technologies, a company located in France, offers technological solutions to several sectors including medical waste management, nuclear detections and health physics, surveillance and protection, and more.
Which Segments in the Medical Waste Management Market Offer the Most Profit Potential?
The medical waste management market covered in this report is segmented -
1) By Type: Non-Hazardous Waste, Bio-Hazardous/Infectious Waste, Bio-Hazardous/Infectious Waste Management
2) By Treatment: Incineration, Autoclaving, Chemical Treatment, Others
3) By Services: Onsite Services, Offsite Services
4) By Waste Generator: Hospitals, Clinics, Ambulatory Surgical Centers, Pharmaceutical Companies, Biotechnology Companies, Others
Subsegments:
1) By Non-Hazardous Waste: General Healthcare Waste, Non-Infectious Waste Disposal
2) By Bio-Hazardous/Infectious Waste: Contaminated Sharps Disposal, Pathological Waste Disposal, Infectious Waste, Pharmaceutical Waste Disposal
3) Bio-Hazardous/Infectious Waste Management: Autoclaving, Incineration, Chemical Disinfection, Microwave Treatment, Waste Segregation And Packaging
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Which Firms Dominate the Medical Waste Management Market by Market Share and Revenue in 2025?
Major companies operating in the medical waste management market include Stericycle Inc., Waste Management Inc., Veolia Environmental Services, Clean Harbors Inc., Suez Environmental Services, Republic Services Inc., Sharps Compliance Inc., Daniels Health Inc., Biomedical Waste Solutions LLC, Remondis SE & Co KG, A2Z Green Waste Management Ltd, BVG India Ltd, Tatva Global Environment Ltd, Hanjer Biotech Energies Pvt. Ltd, The SafeGroup, Initial Medical, PHS, Medisort Ltd, Biffa Waste Services, BioSter SA, EKOMED Sp. z o.o, Medbox, Medikal Polska Sp. z o.o, ARTECH Reduction Technologies, Environmental Waste International Inc, Eco Medical, United Medical Waste Management, MedPro Disposal, Sanpro, Picvisa Machine Vision Systems S.L.U, Tana Oy, Presona AB, Lindner-Recyclingtech GmbH, Globalex Enviro LLC, Condor Medical Waste Treatment Company LLC, Green Mountains Environment And Transport Services, Mazaya Waste Management LLC, Averda Waste Management, Al Dhafra Waste Collection LLC, Compass Medical Waste Services (Pty) Ltd, Med-X Waste Solutions (Pty) Ltd
Which Regions Offer the Highest Growth Potential in the Medical Waste Management Market?
Asia-Pacific was the largest region in the medical waste management market in 2024. North America was the second-largest region in the global medical waste management market share. The regions covered in the medical waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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