Global Medical Waste Management Market is poised to witness a decent CAGR of 5 to 6% by 2027

Medical waste disposal can be defined as the subset of medical waste produced by hospitals, clinics, offices, dental practices, dental clinics, mortuaries, nursing homes, blood banks, veterinary clinics, medical research facilities and laboratories. The waste can be disposed of by various types of waste disposal methods such as incineration, autoclaving, chemical treatment, etc.

The two main types of waste can be segmented below:- 

  • Hazardous Waste: Hazardous waste has properties which can be harmful for the human health and for the environment. It is derived from an infectious, pathological, sharp, chemical, pharmaceutical, cytotoxic or radioactive resources. 
  • Non-hazardous Waste: Non-hazardous waste does not cause any harm to humans and for the environment, and regulations for the disposal of non-hazardous waste are less strict and less adopted. 

WHO projects that in developed regions, for every occupied hospital bed, 0.5kg of hazardous medical waste is produced, in developing regions this is closer to 0.2kg. However, predictions are harder to measure as hazardous and non-hazardous waste are mostly mixed up thus making the volume of the waste even much higher. Proper waste disposal is essential to prevent the environmental risks, enhance the health of all the staff members and prevent further contaminations.

Increasing Volume of Hazardous Medical Waste to Fuel the Growth of the Medical Waste Management Market

Rising world population and healthcare applications, especially in developing regions, is triggering the growth of the global medical waste management market. Overall life expectancies are increasing and the world population is aging rapidly – thus increasing morbidity and hence, growing medical waste. 

Other major growth factors for medical waste are listed below:-

• Rising application of disposables – Hospitals are majorly using disposables – common products such as catheters and scalpels are disposed of easily as opposed to autoclaving or UV treating them. 

• Prions shows the highest level of resistance to disinfection and sterilization. Reusable medical devices are more susceptible to become contaminated with prions. Other concerns regarding the growth of antibiotic-resistant bacteria are driving the shift to using disposables.

• Growing application of a wider range of radionuclides in medicine and medical research has influenced the volume of biomedical radioactive waste.

• Another key driver for the quick rise in the hazardous waste is due to incorrect waste management in developing regions. Improper waste disposal causes the hazardous waste to be mixed with the general waste, thus making the general waste even more hazardous. This further increases the overall volume of waste which needs to be disposed of through incineration as soon as possible.

Fueled by Covid-19 Pandemic, Primary Focus on the Disposal of Medical Waste is Projected to Trigger the Growth of the Medical Waste Management Market

Covid-19 pandemic had brought into effect the demand for an effective and safe medical waste management policies, thus placing plans for its implementation higher on the government's agenda. Waste produced due to Covid-19 pandemic in many regions had exceeded the waste management capabilities available at that period. 

During Covid-19 pandemic, in the Hubei Province, China witnessed a medical waste generation rate of 0.5kg/bed/day in most of the hospitals, which further led to investments in excess capacity and emergency solutions for waste disposal.

The primary focus on the safe processing of medical waste has brought strict norms on the safe disposal of medical waste from governments all across the world, thus requiring an effective and proper waste disposal. The most common waste disposal methods are incineration, autoclaving, chemical disinfection, and microwave treatment.

North America Holds the Largest Market Share in the Medical Waste Management Market

The United States has a well and fully-developed healthcare market – aslo, there are a strict set of regulatory guidelines which all the healthcare service providers and waste disposal companies have to adopt. The disposal of medical waste is overseen by many government bodies including EPA, OSHA, and individual State Departments for Environmental Protection. The EPA had issued regulations regarding emissions produced by medical waste incineration, and other disposal methods such as microwave, chemical and electro pyrolysis disposal.

As China and India begin to further boost and enhance their medical waste disposal policies, the global medical waste disposal market is anticipated to witness a rapid and consistent growth in future.

Competitive Landscape Analysis: Medical Waste Management Market

Some of the top and established players operating in the global medical waste management market are Biomedical Waste Solutions, Clean Harbors, Inc., Daniels Health Inc., EcoMed Services, Remondis Medison, Republic Services, Inc., Stericycle, Inc., Suez Environmental Services, Veolia Environmental Services and Waste Management, Inc. 

The global medical waste management market is fragmented, with some of the major industry players holding a larger market share in most of the developed regions. However, shortage of standardized rules and regulations for medical waste management and less awareness on the medical waste management in developing regions are some of the major factors which may impact the growth of the medical waste management market.

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