The Europe Medical Waste Management Market size is estimated at USD 3.23 billion in 2024, and is expected to reach USD 4.21 billion by 2029, growing at a CAGR of 5.47% during the forecast period (2024-2029).
Factors such as increasing initiatives on medical waste management by government authorities, as well as increasing awareness of medical waste, are expected to drive market growth during the forecast period. For instance, in March 2022, the European Commission proposed to amend the Industrial Emissions Directive. The proposal required industrial installations to set up actions to enhance the substitution of hazardous substances in the production process and prevent waste generation. Furthermore, in June 2023, the EU-funded Water and Environment Support project was launched to improve healthcare waste management in Palestine. Hence, such government initiatives are expected to drive market growth during the forecast period.
Furthermore, the high burden of waste generation in Europe is further expected to drive market growth during the forecast period. For instance, as per the March 2024 update by the European Parliament, approximately 2.1 billion tonnes of waste were reported to be generated in Europe every year. Increasing awareness of medical waste is expected to drive market growth. For instance, according to an article published by Environmental Science and Pollution Research in April 2023, the World Health Organization (WHO) and other regulatory bodies in Europe initiated awareness programs across the countries to inform and help people understand the importance and need for proper medical waste disposal and threatening medical issue which can cost long-term consequences if not addressed properly. Thus, increased medical waste awareness is expected to drive market growth during the forecast period.
Thus, the abovementioned factors, such as increasing awareness about medical waste management and the involvement of the government in coping with the same, are expected to drive the growth of the market during the forecast period. However, high-capital investments are a constraint to the growth of the market.
The European medical waste management market is competitive and consists of several major players. Key market players are continuously involved in various strategic activities, such as partnerships and waste management service launches, in order to enhance their portfolio across Europe. Some of the key players in the market are Stericycle Inc., Veolia Environmental Services, SUEZ Group, Remondis AG & Co. KG, and Daniels Health.
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