Latest News- Medical Waste Management Market: Non-hazardous is expected to lead the Type segment during 2024-2028

The Medical Waste Management Market is being driven by Growing healthcare industry

The Medical Waste Management Market is expected to grow at a CAGR of 5.97% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3821.6 million. In the medical waste management industry, technological innovations, such as microwave technology and autoclaving, have significantly enhanced the efficiency and safety of waste disposal processes. These advancements not only reduce costs but also mitigate risks associated with the improper handling, transport, and disposal of biohazardous and medical wastes. Digital solutions, including electronic waste tracking systems and cloud-based waste management software, are increasingly being integrated to improve transparency and efficiency. Moreover, prioritizing worker safety is crucial, and this is achieved through the provision of personal protective equipment, safety training, and ergonomic equipment. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Non-hazardous
  • Hazardous
• Technique
  • Offsite treatment
  • Onsite treatment
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing healthcare industry
• Growing environmental concerns
• Increasing adoption of outsourcing

However, the market also witnesses some limitations, which are as follows:

• Lack of awareness
• High costs associated with medical waste management
• Limited infrastructure

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Market Scope in Medical Waste Management Market Research Report

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Research Analysis Overview

Medical waste generation sources include diagnostic labs, research centers, autopsy centers, blood banks, emergency services, healthcare facilities such as hospitals, dental practices, physician's offices, veterinary clinics, surgery centers, diagnostic centers, geriatric population-focused facilities, and chronic disease treatment centers. This waste comprises infectious materials, surgical waste, and biomedical products. Effective waste management systems are crucial to mitigate risks and ensure recycling services for these wastes from various sectors.

Market Research Overview

The global environmental and facilities services market encompasses businesses offering solutions for waste management, facilities maintenance, and pollution control. According to Technavio, market size is determined by the consolidated revenue of these service providers. Key growth drivers include the increasing emphasis on sustainability and environmental stewardship, resulting in a heightened demand for waste management solutions, as well as regulatory compliance in industries such as diagnostics, research, autopsy centers, blood banks, and storage services. Additionally, recycling services for non-hazardous waste and financial assistance for implementation of waste management systems further fuel market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/