Global Medical Waste Management Market By Type (Hazardous, Non-hazardous), By Treatment (Incineration, Autoclaving and Others), By Disposal Site (Offsite, Onsite), By Services (Disposal, Recycling and Others) and By Region - Global Forecast 2030

Global Medical Waste Management Market Overview:

The Global Medical Waste Management Market was valued at UЅD $12,095.2 Мn in 2020, and is projected to achieve a valuation of UЅD $18,853.5 Мn by 2030, at a САGR of 5.6%.

Medical waste management refers to the correct disposal of any waste which is generated during the diagnosis, treatment, or immunization of human beings or animals or in research activities pertaining thereto or in the production or testing of biologicals. There are primarily four types of medical waste – general, infectious, hazardous, and radioactive.

Dynamics:

The increasing incidence rates and prevalence rates of infectious diseases is leading to a drastic spike in the number of individuals are being admitted into hospitals and other medical facilities, coupled with the steady surge in the demand for various clinical and other diagnostic tests to be carried out are some of the primary factors that are slated to immensely contribute to the generation of medical waste, thereby boosting revenue growth opportunities for the global medical waste management market over the next 10 years.

Moreover, numerous concerns regarding the impact of this biomedical waste on the environment is also a factor that is expected to further compliment market growth prospects for the global medical waste management market in the coming years.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global medical waste management market is no different, and this factor is anticipated to have an immensely negative impact on the revenue growth of this industry. Moreover, the high initial investments required to set-up recycling facilities, as well as the shortage in skilled staff are also some of the factors that may impede on the revenue growth of the global medical waste management market in the near future.

Nonetheless, the increasing focus by key industry players towards the development and implementation of advanced techniques to more effective dispose of waste that is generated is a factor that is anticipated to have a profound influence on the revenue growth opportunities for the global medical waste management market in the foreseeable future.

Segmentation of the Global Medical Waste Management Market is as follows:

In terms of type, the non-hazardous segment accounted for the maximum number of revenue shares of the global medical waste management market in 2020, and is expected to continue doing so over the forecast period. The hazardous segment is also anticipated to index a high CAGR over the next 10 years.

With regards to treatment, the incineration segment accounted for the highest number of revenue shares of the global medical waste management market in 2020, and is anticipated to continue to do so over the next decade. The autoclaving segment is also indicative of registering a high CAGR over the forecast period.

On the basis of disposable site, the offsite segment accounted for the majority number of revenue shares in 2020, and this segment is expected to continue to do so for the remainder of the forecast period. The onsite segment is also slated to register considerable revenue growth in the coming years.

With respect to services, the collection, transportation, & storage segment accounted for the maximum number of revenue shares of the global medical waste management market in 2020, and is indicative of remaining this industry’s front-running segment over the course of the forecast period. The recycling segment is also expected to index a high CAGR over the next decade.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global medical waste management market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region is indicative of registering the highest CAGR over the course of the forecast period.

Segmentation of the Global Medical Waste Management Market:

Segmentation by Type:

• Hazardous
• Non-hazardous

Segmentation by Treatment:

• Chemical Treatment
• Incineration
• Autoclaving
• Other Treatments

Segmentation by Disposal Site:

• Offsite
• Onsite

Segmentation by Services:

• Disposal
• Recycling
• Collection, Transportation & Storage
• Other Services

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA