Medical Waste Disposal Market Is Expected To Grow At A CAGR Of Over 3% During The Forecast Period 2022 To 2031

CITY, Country, 2022-Aug-30 — /EPR Network/ —

According to the latest market research by Fact MR, Medical Waste Management revenue drove CAGR through 2031 as investment in healthcare infrastructure expansion continues to increase. The aim of the survey is to uncover growth opportunities, key trends, growth drivers and challenges. It also includes recommendations to help organizations prepare for unforeseen challenges.

The focus on improving overall patient care will remain a key growth driver. Additionally, the medical waste disposal market will continue to benefit from the increasing willingness of patients and families to spend on advanced healthcare.

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According to Fact.MR, the medical waste disposal market was valued at over  US$16 billion in 2020 and is projected to surpass US$ 22 billion by 2031   on the increasing number of diseases worldwide.

Healthcare systems have outsourced their medical waste disposal services to third parties, expanding their scope. Additionally, the COVID-19 pandemic is likely to lead to an increased need to properly dispose of medical waste in healthcare settings to prevent the spread of infection.

Fact.MR’s market study provides exclusive information on how the market will grow. The study identifies crucial trends driving the growth of the Medical Waste Management market. This newly released report sheds light on key dynamics such as the drivers, restraints, and opportunities for key market players as well as emerging players related to production and supply. The latest Fact.MR report provides a detailed analysis of the Medical Waste Disposal market

The report provides actionable and valuable market insights into medical waste disposal. Fact.MR latest report provides details on the current scenario of the market in different regions along with historical data and forecast of the market. The report also provides information on sales and demand of Medical Waste Disposal market across various industries and regions.

This newly released and insightful report highlights the Medical Waste Disposal market insights, key dynamics, their impact across the entire value chain from suppliers to end users, and the growth of the Medical Waste Disposal market .

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Key segments covered

• type of waste
  • Non-hazardous waste
  • Hazardous waste
• type of waste
  • Sharp S
  • Infectious and pathological waste
  • Radioactive waste
  • pharmaceutical waste
  • Non-infectious waste
• Waste producer type
  • Waste generators for large quantities:
    • Hospitals (private & public)
    • pharmaceutical and biotechnology companies
  • Waste generators for medium and small quantities:
    • Clinics & medical practices
    • retail pharmacy
    • Ambulatory surgical centers and long-term care centers
    • Laboratories (pathological & diagnostic)
    • Academic and research institutions
    • blood banks
    • Other
• service type
  • Waste disposal on site
  • External waste disposal

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competitive landscape

Prominent players in the global medical waste management market are leveraging partnerships with governments, consultancies and other medical waste management service providers to increase their market presence.

• On June 7, 2021, Cambodia, in cooperation with UNDP, will launch a new medical waste disposal project under the South-South Cooperation Assistance Fund (SSCAF) with support from China to gain experience and expertise in infectious waste management

• On April 1, 2021, Aurora Capital Partners announced the acquisition of Curtis Bay Medical Waste Services, an industry leader in medical waste collection, disposal and treatment. This acquisition will allow the company to gain a foothold in the market.
• On August 18, 2020, OnSite Waste created a portable sharps and red bag waste treatment unit that allows growers to process waste in their own facilities, eliminating the need to hire contractors to process and dispose of hazardous waste. About 15% residue remains after the three-hour process, which can be recycled as municipal solid waste.

Key insights from the Medical Waste Disposal market study:

• By its very nature, non-hazardous medical waste is expected to account for a large portion of the medical waste disposal market. The segment is poised to capture nearly 70% market share during the forecast period.
• By waste type, the infectious waste segment is expected to grow the fastest at a CAGR of 6.0%. This is attributed to the growing prevalence of infectious diseases such as SARS, hepatitis, tuberculosis and influenza. However, the non-infectious segment will remain dominant due to the rising prevalence of chronic diseases as the population ages rapidly.
• After waste producers, large volume waste producers are poised to remain at the forefront of the medical waste producer market. Hospitals represent the largest portion of medical waste generators due to the large amount of surgical procedures that take place in a day.
• By type of service, off-site waste management will become more important due to strict government regulations and an increased burden of healthcare spending. Major healthcare institutions have outsourced their waste management to external parties.
• At a regional level, North America is set to dominate the market, capturing a nearly 40% market share, while Asia-Pacific is expected to have significant leverage. Strict health regulations improve prospects for medical waste disposal in North America, while rapidly developing health infrastructure is driving growth in Asia Pacific.

Report Benefits & Key Questions Answered

• Medical Waste Management Category and Segment Level Analysis:  Fact MR provides a detailed analysis of the factors affecting revenue growth in key segments. It highlights key growth drivers and provides useful information for identifying sales opportunities at regional and local level.
• Medical Waste Management Historical Volume Analysis : The report provides a comparison of Medical Waste Management historical sales to forecast sales performance for 2021-2031.
• Medical Waste Disposal Manufacturing Trends Analysis :  The report provides a detailed analysis of the manufacturing trends in Medical Waste Disposal market. It carefully measures the impact of the changing health needs of key demographic groups worldwide
• Medical Waste Disposal Consumption by Demographics:  The report examines consumer behavior affecting the demand prospects of Medical Waste Disposal for the assessment period. The impact of their readiness for digital trends on Medical Waste Disposal market is carefully analyzed
• Post- COVID Consumer Spending on Medical Waste Disposal: The  healthcare industry has been heavily impacted by the COVID-19 pandemic. The Fact MR market survey analyzed consumer spending after COVID-19. It assesses how current trends will impact healthcare spending and thereby the growth of the Medical Waste Disposal market.

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