Medical Waste Management Market Analysis

Medical Waste Management Market Analysis

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Medical waste management market from the hazardous segment held over USD 3 billion revenue in 2022. Sharps waste is considered hazardous waste and can cause injury to healthcare workers while handling and managing medical waste. Medical waste contains potentially harmful micro-organisms that can extensively harm general public, health workers and even hospital patients. Several potential hazards may include drug-resistant microorganisms that further outspread from health facilities into the environment.
 

Medical waste management market from treatment and disposable services segment accounted for 30% revenue share in the year 2022. With emerging technology, microwaving is mainly used to treat biohazardous waste through moist heat and steam generated by microwave energy to disinfect the medical waste. Whereas incineration is the method used for pathological waste including recognizable tissue as well as body parts that escalate the demand for treatment and disposable services. Nowadays in medical waste management, autoclaving services are mostly preferred as compared to microwaving and others as autoclaves are chemical-free.
 

Medical waste management market from hospitals segment is anticipated to grow at 6.2% CAGR during the forecast period, due to the rising usage of disposable medical products in hospitals. Majority of products used are meant for single-use to minimize cross-contamination at hospitals. These single-use products are mainly preferred with the outbreak of COVID-19 to avoid the further spread of coronavirus amongst the patients, doctors, nurses, and healthcare providers at hospitals.

North America medical waste management market size dominated around USD 5 billion in 2022, attributed to the rising number of awareness programs regarding medical waste management. Adoption of eco-friendly recycling and disposal processes will further trigger regional progression. Technological advancements along with excess medical waste generation due to the outbreak of the COVID-19 pandemic will enhance the market value.