[150+ Pages Report] The medical waste management market size in terms of value is projected to reach $ 11.92 billion by 2030 from US$ 6.90 billion in 2020, at a CAGR of 5.8% between 2021 and 2030, according to a 2021 study by Precedence Research, the Canada based market insight company.
The study provides the overall revenue of the global medical waste management market from 2017 to 2027, considering 2020 as the base year and 2027 as the forecast year.
The global medical waste management market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the medical waste management industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Factors such as exponentially increasing volume of medical waste, rising geriatric population, increasing prevalence of chronic disorders such as cardiovascular diseases and diabetes, growing obese population, increasing requirement for sustainable and effective medical waste management, increasing focus of governments all over the world to tackle the issue of medical waste management, and increasing number of accidents are driving the growth of medical waste management market. Moreover, integration of latest technologies and growing investment by key manufacturers is driving the medical waste management market growth across the world. Additional features that are expected to fuel this business are increasing per capita healthcare expenditure and implementation of stringent regulations by governments related to medical waste management.
Above 65% of all deaths occur due to the five major chronic ailments viz., cancer, heart disease, diabetes stroke, and COPD. Chronic ailments are accountable for seven out of ten demises in the United States (more than 1.7 million individuals) each year. After heart ailments, cancer is the second predominant cause of demise in the U.S. Increasing elderly population, coupled with prevailing risk aspects (for example poor nutrition, absence of physical activity, and tobacco usage) and medical developments have led to the deduction that these difficulties are only going to amplify if not efficiently addressed over near future. The rising prevalence of chronic ailments is anticipated to result in a greater demand for healthcare devices, medicines, and equipment’s, which in turn is anticipated to bolster the progress of medical waste management industry over the forecast timeframe.
- Among the treatment segment, incineration dominated the overall market in 2020. Incineration is the lone method employed for pathological scrap such as identifiable tissue and body parts that augments the segmental share. The chemical treatment segment is estimated to grow at the uppermost CAGR through the forecast duration.
- Hazardous waste accounted for the major share in the end-user segment with more than 65% share in 2020 due to high volume of hazardous waste generation. Moreover, implementation of stringent regulations for the safe disposal of hazardous waste by governments all over the world is expected to boost the demand for hazardous waste management in the near future.
- Stericycle Inc., Waste Management, Inc., and Clean Harbors accounted for a significant share of the global medical waste management market.
The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, the North America region dominated the worldwide market with a market share of higher than 42%. The U.S. indicated the highest slice in North America principally due to high incidence of cancer and early implementation of latest medical waste management techniques. Moreover, presence of major industry players and constant innovation also supported the high market portion of North America.
Europe was the subsequent significant market chiefly due to high geriatric population. Presence of positive reimbursement scenario in the European region is also expected to lift the demand for medical waste management in the anticipated time-span. The Asia Pacific region is projected to grow at the highest CAGR of around 6.8% in the estimate period due to increasing per capita healthcare expenditure and high number of accidents. Latin America and Middle East and African region will display noticeable growth.
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Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global medical waste management market are as follows:
- BioMedical Waste Solutions
- Stericycle Inc.
- Clean Harbors
- MedPro Waste Disposal
- Waste Management, Inc.
- Sharps Compliance, Inc.
- Chemical Treatment
By Waste Type
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the medical waste management market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global medical waste management market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical waste management are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Medical Waste Management Market Variables and Scope
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Medical Waste Management Market
5.1. Covid-19: Medical Waste Management Industry Impact
5.2. Medical Waste Management Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Medical Waste Management Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Medical Waste Management Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Medical Waste Management Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
184.108.40.206. Exponentially increasing volume of medical waste
220.127.116.11. Rising geriatric population
6.1.2. Market Restraints
18.104.22.168. Variations in regulatory status
6.1.3. Market Opportunities
22.214.171.124. Growing investment by key manufacturers
126.96.36.199. Increasing per capita healthcare expenditure
Chapter 7. Global Medical Waste Management Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
188.8.131.52. Medical Waste Management Market Revenue by Market Players (2016 -2019)
184.108.40.206. Medical Waste Management Market Revenue Market Share by Market Players (2016 -2019)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
220.127.116.11. Product Portfolio Expansion, Geographic Expansion, Product Innovation
18.104.22.168. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
22.214.171.124. List of Suppliers
126.96.36.199. List of End-users
Chapter 8. Global Medical Waste Management Market, By Treatment
8.1. Medical Waste Management Market, by Treatment, 2017-2030
8.1.1. Chemical Treatment
188.8.131.52. Market Revenue and Forecast (2017-2030)
184.108.40.206. Market Revenue and Forecast (2017-2030)
220.127.116.11. Market Revenue and Forecast (2017-2030)
18.104.22.168. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Medical Waste Management Market, By Waste Type
9.1. Medical Waste Management Market, by Waste Type, 2017-2030
22.214.171.124. Market Revenue and Forecast (2017-2030)
126.96.36.199. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Medical Waste Management Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue Forecast by Treatment(2017-2030)
10.1.2. Market Revenue Forecast by Waste Type (2017-2030)
10.1.3.1. Market Revenue Forecast (2017-2030)
10.1.4.1. Market Revenue Forecast (2017-2030)
10.2.1. Market Revenue Forecast by Treatment (2017-2030)
10.2.2. Market Revenue Forecast by Waste Type (2017-2030)
10.2.3.1. Market Revenue Forecast (2017-2030)
10.2.4.1. Market Revenue Forecast (2017-2030)
10.2.5.1. Market Revenue Forecast (2017-2030)
10.2.6. Rest of EU
10.2.6.1. Market Revenue Forecast (2017-2030)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue Forecast by Treatment (2017-2030)
10.3.2. Market Revenue Forecast by Waste Type (2017-2030)
10.3.3.1. Market Revenue Forecast (2017-2030)
10.3.4.1. Market Revenue Forecast (2017-2030)
10.3.5.1. Market Revenue Forecast (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue Forecast (2017-2030)
10.4.1. Market Revenue Forecast by Treatment (2017-2030)
10.4.2. Market Revenue Forecast by Waste Type (2017-2030)
10.4.3.1. Market Revenue Forecast (2017-2030)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue Forecast (2017-2030)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue Forecast by Treatment (2017-2030)
10.5.2. Market Revenue Forecast by Waste Type (2017-2030)
10.5.3.1. Market Revenue Forecast (2017-2030)
10.5.4. North Africa
10.5.4.1. Market Revenue Forecast (2017-2030)
10.5.5. South Africa
10.5.5.1. Market Revenue Forecast (2017-2030)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue Forecast (2017-2030)
Chapter 11. Company Profiles
11.1. BioMedical Waste Solutions
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
188.8.131.52. Treatment Details, Specification, Waste Type
11.1.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.1.4. Recent Developments and Strategies
11.2. Stericycle Inc.
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
184.108.40.206. Treatment Details, Specification, Waste Type
11.2.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.2.4. Recent Developments and Strategies
11.3. Stericycle Inc.
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
220.127.116.11. Treatment Details, Specification, Waste Type
11.3.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.3.4. Recent Developments and Strategies
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
18.104.22.168. Treatment Details, Specification, Waste Type
11.4.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.4.4. Recent Developments and Strategies
11.5. MedPro Waste Disposal
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
22.214.171.124. Treatment Details, Specification, Waste Type
11.5.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.5.4. Recent Developments and Strategies
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
126.96.36.199. Treatment Details, Specification, Waste Type
11.6.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.6.4. Recent Developments and Strategies
11.7. Waste Management, Inc.
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
188.8.131.52. Treatment Details, Specification, Waste Type
11.7.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.7.4. Recent Developments and Strategies
11.8. Sharps Compliance, Inc.
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
184.108.40.206. Treatment Details, Specification, Waste Type
11.8.3. Revenue, Price, and Gross Margin (2016 – 2019)
11.8.4. Recent Developments and Strategies
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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