Medical waste management market reaches new high

The global medical waste management market size is expected to grow from USD 9 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 5.6 percent, predicts MarketsandMarkets. This industry is experiencing significant growth due to the increasing volume of healthcare waste and the growing geriatric and obese populations. The collection, transportation, and storage services segment accounted for the largest market share in 2019. This is primarily attributed to the presence of stringent regulations for the collection, transportation, and storage of medical waste.
In 2019, North America held the largest share of the market, followed by Europe. The growing aging population and stringent regulations in this region are the major factors driving the growth of the medical waste management industry in North America.
The prominent players operating in the medical waste management market include Stericycle, Veolia Environnement S.A., Suez Environnement, Clean Harbors, Remondis AG & Co. KG, Sharps Compliance, Inc., Waste Management, Inc., BioMedical Waste Solutions, LLC, Daniels Sharpsmart Inc., Republic Services, Inc, EcoMed Services, GRP & Associates, BWS Incorporated, MedPro Disposal, GIC Medical Disposal, Gamma Waste Services, Triumvirate Environmental, EPCO, Casella Waste Systems, Inc., and All Medical Waste Australia Pty Ltd.