The global size of Medical Waste Management Market in terms of revenue was estimated to be worth $9.2 billion in 2023 and is poised to reach $12.2 billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Investments by diagnostic labs and research centers, expanding units, and improved focus on medical waste management are expected to boost the market for medical waste management. Moreover, increased demand for new techniques like incineration is expected to increase in the coming years, which is expected to propel the market growth.

The increasing prevalence of diseases and health conditions such as diabetes, which impairs healing capabilities, alongside a growing number of cases including obesity and related illnesses are the factors for market growth. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the medical waste management market.

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Browse in-depth TOC on “ Medical Waste Management Market”

235 – Tables

39 – Figures

231 – Pages

Key Market Players

The major players operating in this market are Veolia Environnement S.A. (France), Clean Harbors, Inc. (US), Stericycle Inc. (US), Waste Management, Inc. (US), Cleanaway Waste Management Limited (Australia), Casella Waste Systems, Inc. (US), Sharps Compliance, Inc. (US), Covanta Holding Corporation (US), Hazardous Waste Experts (US), REMONDIS SE & Co. KG. (UK), BioMedical Waste Solutions, LLC (US), EcoMed Services (Canada), GRP & Associates, Inc. (US), BWS Incorporated (US), MEDPRO Disposal LLC (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental (US), EPCO (Saudi Arabia), All Medical Waste Australia Pty Ltd. (Australia), Pro-Disposal Medical Waste Services (Georgia), SSO Medical Waste Management (US), Safeguard Waste Solutions (US), MedWaste Industries Inc. (US), DULSCO (UAE).

DRIVER: Increasing volume of healthcare waste

The medical waste management market has experienced substantial growth due to the expansion of the healthcare industry. This growth is attributed to the rising demand for healthcare services worldwide, which has led to an increase in the number of hospitals, laboratories, research centers, mortuaries, autopsy centers, blood banks, and related collection activities. As these healthcare facilities expand their operations to meet the growing needs of patients, there is a parallel increase in the generation of medical waste. Consequently, there is a heightened demand for efficient medical waste management solutions to handle the larger volumes of waste produced. This trend underscores the critical importance of effective waste management practices within the healthcare sector to ensure public health and environmental safety.

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RESTRAINT: High capital investment

Hospitals, healthcare institutions, and pharmaceutical companies face substantial capital requirements for effectively managing the collection and processing of waste in a manner that minimizes environmental pollution. This includes both hazardous and non-hazardous waste, for which advanced technologies and significant investments are necessary for proper disposal. These entities must allocate resources towards implementing sophisticated waste management systems to ensure compliance with environmental regulations and mitigate the impact on ecosystems. Such investments are crucial not only for meeting regulatory standards but also for safeguarding public health and preserving environmental integrity. Therefore, there is a pressing need for these organizations to prioritize substantial financial commitments towards adopting sustainable waste management practices that prioritize environmental sustainability and community well-being.

OPPORTUNITY: Increasing number of awareness programs for medical waste management in developed countries

In developed nations such as the US and UK, there has been a notable rise in initiatives aimed at promoting awareness regarding proper medical waste management and the prevention of mishandling. This surge includes the organization of awareness programs and conferences dedicated to educating stakeholders about the importance of effectively managing medical waste. These initiatives aim to highlight the potential risks associated with improper disposal practices and emphasize the need for adherence to established protocols and guidelines. By increasing awareness among healthcare professionals, policymakers, and the general public, these efforts seek to foster a culture of responsible waste management practices. Ultimately, the goal is to mitigate environmental harm, protect public health, and enhance overall sustainability within these nations' healthcare systems.

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Recent Developments:

• In December 2021, the Veolia Environment S.A. launched the Vigie COVID-19 solution, which can track signs of the Omicron variant in wastewater, acting as an early warning system for monitoring the progression of the pandemic.
• In May 2022, Veolia Environment S.A. acquired Suez Environment. The companies signed an agreement for the acquisition of all of the hazardous waste assets in France to address the European Commission competition concerns made by Veolia.
• In October 2020, Waste Management, Inc. acquired Advanced Disposal. This acquisition expanded Waste Management’s footprint and provided access to sustainable waste management and recycling services for customers in the US.

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