Medical Waste Management Market Trends 2021-2026, North America, Europe & APAC Industry Statistics with COVID-19 Impact Analysis: Graphical Research
Europe medical waste management market size to cross $4 billion valuation by 2026 | North American market to reach USD 6.5 Bn by 2026 | Asia Pacific industry to register 7.7% CAGR through the projected duration
Pune, India – August 4, 2021 /MarketersMedia/ —
Graphical Research presents an extensive report on medical waste management market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.
Let’s now take a look at how the global medical waste management industry is evolving and some of the key trends that the industry will witness in the near future.
Growing amount of hospital waste in European countries
Hospitals, laboratories, nursing homes, and research centers are among the leading generators of healthcare waste. It is estimated that the Europe medical waste management market size from the hospital segment will grow at a 5% CAGR up to 2026.
Medical gloves, masks, syringes, and other types of single-use equipment is extensively used in hospitals, resulting in the accumulation of massive amount of waste. In European countries, the government and regulatory bodies have implemented strict guidelines for on-site treatment of waste in well-established hospitals.
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Positive medical waste management efforts in France
France medical waste management marlet share is estimated to expand at a CAGR of around 5.5% in the coming years. The country has made numerous efforts and put several initiatives in place to ensure appropriate collection, transportation, storage, and disposal of waste and restrict the spread of infectious diseases.
The regional companies are focusing on providing effective waste management services while complying with government and regulatory guidelines to protect human health as well as the environment.
Increasing demand for recycling services in North America
The different types of medical waste management services include collection, treatment and disposal, transportation and storage, and recycling. In North America, recycling services has generated over USD 1.3 billion in annual revenue during 2019 and will witness a notable demand in the future.
Recycling is a critical step in the sustainable management of hospital waste and can lead to a significant drop in pollution as the waste is not buried in the ground. The U.S. EPA, WHO, and other regulatory bodies are making active efforts to promote the recycling of medical waste.
Access sample pages of the report, “North America Medical Waste Management Market Forecasts 2026” in detail along with the table of contents (ToC) @
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Strict biomedical waste disposal regulations in the U.S.
The market for medical waste management in the U.S. is slated to grow at a steady 6% CAGR over the forthcoming years led by the presence of numerous leading industry players. A well-established healthcare system and strict regulations regarding biomedical waste disposal will further augment the regional growth.
The rapid spread of the novel coronavirus outbreak in 2020 and its resurgence along with newer variants in many parts of the country has resulted the tightening of regulatory guidelines throughout the country in order to curb the spread of the virus through hospitals.
Rising hazardous medical waste accumulation in Asia Pacific
Biomedical waste can be broadly classified into hazardous and non-hazardous waste. The hazardous medical waste management market in Asia Pacific is projected to expand at an 8% CAGR through 2026.
Depending upon its origin and risk of exposure to human tissue, hazardous waste is generally known as infectious waste. This includes sharp medical waste which may cause severe damage to healthcare workers while handling the waste. Infectious waste may be reactive, flammable, and toxic and thus needs to be disposed of and treated accordingly.
Exponential rise in medical waste in China due to COVID-19
With a rapid increase in the urban population as well as the occurrence of numerous major chronic conditions, China has witnessed an exponential rise in healthcare waste accumulation. Earlier in 2019, China accounted for over 25% revenue share of Asia Pacific medical waste management market and will grow substantially by 2026.
The COVID-19 pandemic has further increased the amount of waste generated. The quantity of waste collected across the Hubei province alone exceeded 365 tons, of which approximately 60% was generated by hospitals.
The sustained nature of the COVID-19 pandemic will continue to create a promising outlook for medical waste management service providers globally as government and regulatory bodies further tighten norms regarding waste disposal and handling.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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