Global Medical Waste Management Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Medical Waste Management Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Medical Waste Management market finds that the global Medical Waste Management market reached a value of USD 14374.95 million in 2022. It’s expected that the market will achieve USD 22735.79 million by 2028, exhibiting a CAGR of 7.94% during the forecast period.

Risk Assessment on COVID-19

More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Stericycle (Excel Medical Waste) is one of the major players operating in the Medical Waste Management market, holding a share of 11.32% in 2021.

Stericycle is a U.S. based business-to-business services company and leading provider of compliance-based solutions that protect people and brands, promote health, and safeguard the environment.

Veolia group is the global leader in optimized resource management. With nearly 178,780 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries.

Segmentation Overview:

Among different product types, Collection segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Offsite segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Medical Waste Management market covered in Chapter 3:

Remondis
MedWaste Management
Suez
Waste Management
Bertin medical Waste
UMI
Clean Harbors
Veolia
Medical Waste Management
Cyntox
Stericycle (Excel Medical Waste)
Daniels Sharpsmart
Sharps Compliance
Republic Services
Triumvirate

In Chapter 4 and Chapter 14.2, on the basis of types, the Medical Waste Management market from 2018 to 2029 is primarily split into:

Collection
Transportation and Storage
Treatment and Disposal
Recycling

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Waste Management market from 2018 to 2029 covers:

Offsite
Onsite

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)