Insights on the Worldwide Medical Waste Management Industry to 2030
DUBLIN–(BUSINESS WIRE)–The “Medical Waste Management Global Market Report 2020-30: COVID-19 Implications and Growth” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global medical waste management market.
This report focuses on medical waste management market which is experiencing strong growth. The report gives a guide to the medical waste management market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global medical waste management market is expected to grow from $13.5 billion in 2019 to 14.9 billion in 2020 at a compound annual growth rate (CAGR) of 10.6%. The markable growth is mainly due to the COVID-19 outbreak and the measures to contain it. The unestimated amount of biomedical waste being generated from COVID-treating hospitals, quarantine centers, healthcare facilities, and self/home-quarantine has triggered the need for medical waste management. The market is then expected to stabilize and reach $16.62 billion in 2023 at a CAGR of 3.8%.
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North America was the largest region in the medical waste management market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
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 and 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 decontamination of N95 respirators and PPE kits.
Low awareness among developing countries is limiting the growth of the medical waste management market. Inadequate knowledge of healthcare professionals and sanitation health workers on biomedical waste regulations and medical waste management protocols is causing improper segregation of waste which is leading to increased hazardous waste, needle prick injuries and infections like hepatitis which is increasing the load on the medical waste management companies. Infectious waste (or hazardous medical waste) constitutes around 15 to 25% of total healthcare waste. According to the World Health Organization (WHO), in low-income countries, health care waste is not separated into hazardous and non-hazardous waste which is causing an increase in the actual quantity of hazardous waste. Therefore, such a lack of awareness in developing countries is hindering the growth of the medical waste management market.
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. The use of single-use or disposal products surged due to the COVID-19 pandemic outbreak. The widely used disposables like surgical gloves, disposable bed sheets, masks, surgical gowns, syringes, intravenous saline bags, and others account for most of the hospital waste. Therefore, the rise in the use of disposable medical products is expected to drive the medical waste management market.
Key Topics Covered:
- Executive Summary
- Medical Waste Management Market Characteristics
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Medical Waste Management Market Size and Growth
3.1. Global Medical Waste Management Historic Market, 2015 – 2019, $ Billion
3.2. Global Medical Waste Management Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
- Medical Waste Management Market Segmentation
4.1. Global Medical Waste Management Market, Segmentation by Type
4.2. Global Medical Waste Management Market, Segmentation by Treatment
4.3. Global Medical Waste Management Market, Segmentation by Services
4.4. Global Medical Waste Management Market, Segmentation by Waste generator
- Medical Waste Management Market Regional and Country Analysis
5.1. Global Medical Waste Management Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Medical Waste Management Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
Waste Management (WM)
Citiwaste
Sanpro Waste
MedPro Waste Disposal
Sharps Compliance
BioServeUSA
BioMedical Waste Solutions
PureWay Total Compliance
Medasend
Veolia Environnement
Clean Harbors
EnviCare
Battelle
For more information about this report visit https://www.researchandmarkets.com/r/mng6z1
, <br>Business Wire
