NEW YORK, Nov. 14, 2023 /PRNewswire/ — The medical waste management market size is estimated to grow by USD 3.32 billion from 2022 to 2027. The market will be growing at a CAGR of 5.5% during the forecast period. The medical waste management market report includes information on the product launches, sustainability, and prospects of leading vendors including 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. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) – View Sample report
Medical waste management market – Vendor Landscape
The medical waste management market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Medical waste management market – Market Dynamics
Key Driver
The growing healthcare industry drives the growth of the medical waste management market. Factors such as a rise in the global population and increasing healthcare needs lead to a significant increase in healthcare activities. Healthcare providers have implemented stringent regulations related to medical waste management. This increases the demand for effective medical waste management solutions. Also, there is an increased demand for these services due to various healthcare facilities outsourcing their medical waste management to specialized companies. Hence, such factors boost the growth of the medical waste management market during the forecast period. Hence, such factors drive the regional market during the forecast period.
Major Challenges-
Lack of awareness challenges the growth of the medical waste management market. Healthcare providers and the general public lack awareness about the proper disposal of medical waste, which leads to improper disposal and potential health and environmental hazards. Also, the improper handling of hazardous waste by such staff can directly affect their health. Hence, such challenges impede market growth during the forecast period.
Key Trends–
Advancement in technology is an emerging trend in the medical waste management market. Microwave technology and autoclaving are the development of innovative technologies, which increase the efficiency of medical waste management, reduced costs, and improved safety. Innovative technologies, including microwave technology, autoclaving, and chemical treatment, are being developed and adopted to improve the efficiency and safety of medical waste management. Hence, the rising adoption of advanced technology is expected to boost the growth of the global medical waste management market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
Medical waste management market – Market Segmentation and geographical analysis
This report extensively covers market segmentation by type (non-hazardous and hazardous), technique (offsite treatment and onsite treatment), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The non-hazardous segment will be significant for market growth during the forecast period. The non-hazardous segment includes plastic packaging, clean glass and plastic, paper and cardboard, and office products. In order to reduce the risk of infections to humans, medical waste needs to be disposed of properly, increasing the demand for medical waste management. Hence, such factors boost the segment growth during the forecast period.
- North America will contribute to 36% of the global medical waste management market. Medical waste management is mandatory in North America since medical waste can contain infectious agents. The infectious agents include bacteria, viruses, and other harmful substances that can cause serious illness. There are regulatory requirements at both the federal and state level that mandate proper medical waste management in the region as a result of the improper disposal of medical waste.
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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 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.
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