The Medical Waste Management Global Market Report 2023 by The Business Research Company, provides medical waste management market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Medical Waste Management Global Market Report 2023, the market size grew from $17.03 billion in 2022 to $17.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical waste management is expected to grow from $21.7 billion in 2027 at a CAGR of 4.9%.
The rise in the use of disposable medical products in healthcare facilities is expected to drive the medical waste management market. In a healthcare setting, most of the products used are meant for single-use to limit cross-contamination among patients and decrease hospital-acquired infection.
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The medical waste management market is segmented:
1) By Type: Bio-Hazardous/Infectious Waste, Non-Hazardous Waste, Sharps, Pharmaceutical, Radioactive, Other Types
2) By Treatment: Incineration, Autoclaving, Chemical Treatment, Other Treatments
3) By Services: Onsite Services, Offsite Services
4) By Application: Hospitals, Clinics, Ambulatory Surgical Centres, Pharmaceutical Companies, Biotechnology Companies, Other Applications
Recycling is expected to become a key trend in medical waste management. The ongoing medical supplies shortage due to the COVID-19 pandemic has resulted in the need for more sustainable recycling of medical products. Battelle Critical Care Decontamination System, which was approved in April 2020 by Food and Drugs Administration (FDA), uses hydrogen peroxide for the decontamination of N95 respirators and PPE kits.
The medical waste management market report table of contents includes:
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Major Top Players
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