New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Waste Management Global Market Report 2022" - https://www.reportlinker.com/p06229761/?utm_source=GNW
The global medical waste management market is expected to grow from $16.23 billion in 2021 to $17.03 billion in 2022 at a compound annual growth rate (CAGR) of 5.0%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $20.69 billion in 2026 at a CAGR of 5.0%.
The medical waste management market consists of the revenue generated from establishments providing services that include collection, transportation, storage, treatment, disposal, and recycling of waste. Biomedical waste is generated during the diagnosis, treatment, and immunization of human beings or other living beings from healthcare facilities.
The main types of medical waste management are bio-hazardous/infectious waste, non-hazardous waste, sharps, pharmaceutical, radioactive and others.Any garbage containing infectious materials or potentially contagious compounds such as blood is classified as biohazardous waste, often known as infectious waste or biomedical waste.
The different types of treatments include incineration, autoclaving, chemical treatment, others and provides various services such as onsite services, offsite services. The several applications include hospitals, clinics, ambulatory surgical centres, pharmaceutical companies, biotechnology companies, others.
The rise in the use of disposable medical products in healthcare facilities is expected to drive the medical waste management market.In a healthcare setting, most of the products used are meant for single-use to limit cross-contamination among patients and decrease hospital-acquired infection.
The use of single-use or disposal products surged due to the COVID-19 pandemic outbreak.The widely used disposables like surgical gloves, disposable bed sheets, masks, surgical gowns, syringes, intravenous saline bags, and others account for most of the hospital waste.
Therefore, the rise in the use of disposable medical products is expected to drive the medical waste management market.
Low awareness among developing countries is limiting the growth of the medical waste management market.Inadequate knowledge of healthcare professionals and sanitation health workers on biomedical waste regulations and medical waste management protocols is causing improper segregation of waste which is leading to increased hazardous waste, needle prick injuries and infections like hepatitis which is increasing the load on the medical waste management companies.
Infectious waste (or hazardous medical waste) constitutes around 15 to 25% of total healthcare waste.According to the World Health Organization (WHO), in low-income countries, health care waste is not separated into hazardous and non-hazardous waste which is causing an increase in the actual quantity of hazardous waste.
Therefore, such a lack of awareness in developing countries is hindering the growth of the medical waste management market.
Recycling is expected to become a key trend in medical waste management.The ongoing medical supplies shortage due to the COVID-19 pandemic has resulted in the need for more sustainable and recycling of medical products.
Battelle Critical Care Decontamination System, which was approved in April 2020 by Food and Drugs Administration (FDA), uses hydrogen peroxide for decontamination of N95 respirators and PPE kits.
In 2019, Waste Management, Inc. is a US-based waste management, comprehensive waste, and environmental services company acquired Advanced Disposal Services, Inc. for $4.6 billion. The acquisition increases Waste Management’s footprint and enables the company to produce an unparalleled way to differentiated, sustainable waste management and recycling services to about 3 million new commercials, industrial and residential consumers primarily located in 16 states in the eastern half of the US. Advanced Disposal is a US-based company that makes new ideas and solutions to the business of a clean environment.
Asia Pacific was the largest region in the medical waste management market in 2021.North America was the second largest region in the medical waste management market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the medical waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06229761/?utm_source=GNW
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