Medical Waste Management Market Size to Surpass 128.2

Pune, Oct. 27, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, “Medical Waste Management Market by Service (Collection, Treatment, Disposal, Incineration, and Recycling), by Type of Waste (Non-hazardous, Infectious, and Pharmaceutical), by Treatment Site (Offsite and Onsite), by Waste Generator (Hospital and Labs) – Global Outlook & Forecast Period 2022-2030″ published by Growth Plus Reports, the medical waste management market is expected to grow at a CAGR of 5.9% from 2021 to reach US$ 128.2 billion by 2030. Owing to increasing initiatives by government authorities and rising awareness of medical waste.

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Market Drivers

According to the Longitudinal Ageing Study in India (LASI), in 2020, two out of every three senior patients were found to have a chronic illness. Furthermore, the market is growing due to government initiatives for the efficient handling of medical waste. For instance, the US Environmental Protection Agency signed a rule in 2019 titled “Management Standards for Hazardous Waste Pharmaceuticals and Amendment to the P075 Listing for Nicotine” that specifies streamlined guidelines for managing waste from hazardous pharmaceuticals. Additionally, increased financing for research initiatives and extensive use of biomedical goods and technologies drive market expansion.

Excerpts from ‘By Waste Generator Segmentation’

Based on waste generator, the global wasted management market has been segmented into:

During the projection period, the hospital segment had the largest revenue share in the market. Hospitals typically produce a variety of garbage, including medical, office, and domestic waste. Sharps, needles, chemicals, expired medications, radioactive materials, and infectious waste are common components of healthcare waste. While packaging for medical supplies and prescription boxes…