Medical Waste Management Market Emerging Trends and Future Scope Analysis Report to 2028 | TMR Study

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Oct 20, 2022, 11:00 ET

Market players are expected to make use of mail-back system and field sales solutions to maximize revenue potential
In order to obtain successful medical waste disposal, a number of waste management businesses are developing highly advanced non-incineration management approaches, which is anticipated to fuel the market

WILMINGTON, Del., Oct. 20, 2022 /PRNewswire/ -- In 2020, the global medical waste management market size stood at US$ 15.3 Bn. Analysis of medical waste management market estimates the market progress at 6.2% CAGR during the forecast period, from 2021 to 2028. By 2028, it is predicted that the medical waste management market value will touch valuation of US$ 25.2 Bn.

Given the rising numbers of elderly and obese people, as well as the subsequent rise in biological waste, North America is likely to offer substantial revenue opportunities. Tough restrictions on management of medical waste and I Increasing per capita spending on healthcare are anticipated to propel North America medical waste management market. Additionally, a high level of public understanding about the risks and safety issues associated with biohazards is also expected to trigger market expansion.

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In 2020, Europe emerged as the second-largest marketplace for the management of medical waste owing to rising incidence of lifestyle disorders like diabetes and existence of significant biotechnological and pharmaceutical businesses. It is projected that this pattern will persist due to strict environmental laws and regulations and growing prevalence of cancer and high BP amongst people.

Key Findings of Market Report

In the forthcoming years, new waste disposal and management strategies launched in the U.S. are anticipated to receive regulatory clearance. This factor is predicted to propel the US medical waste management market during the forecast period.
In order to successfully control the emission of hazardous gases, medical waste management firms are likely to boost R&D activities in non-incineration technologies including non-ionization treatment and steam autoclave treatment. Rise in R&D activities are likely to work in favor of the global market in the near future.
Determining regions and localities with inadequate waste disposal and collection is expected to boost demand for medical waste management. This is further anticipated to increase sales of medical waste in the open market and enhances public satisfaction with good hygienic practices in communities and healthcare institutions. For this growth strategy in the medical waste management business, both underdeveloped and developed countries work well.

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Global Medical Waste Management Market: Growth Drivers

The small-quantity & medium-quantity waste generators category is anticipated to grow more rapidly than the large-quantity generators segment. The category is expected to account for a considerable medical waste management market share. This is due to an increase in patient inclination toward treatment in home care facilities and long-term care in the U.S. This offers new prospects for market participants to sign long-term agreements with producers of small- and medium-quantity waste generators.

Global Medical Waste Management Market: Key Competitors

US Ecology Inc.
Waste Management Inc.
Alba Services GmbH & Co. KG
BioMedical Waste Solutions
Sharps Compliance Inc.
BioMedical Waste Solutions, LLC

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Global Medical Waste Management Market: Segmentation

Nature of Waste

Non-Hazardous Waste
Hazardous Waste

Waste Type

Sharps
Infectious & Pathological Waste
Radioactive Waste
Pharmaceutical Waste
Non-infectious Waste

Waste Generator Type

Large Quantity Waste Generators
Mid & Small Quantity Waste Generators

Service Type

On-site Services
Off Site Services

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