United States Medical Waste Management Market to Grow with a CAGR of 4.45% During 2021-2030; Market to Grow on Account of Increasing Support of the Government on Handling Medical Wastes
Kenneth Research published a report titled “United States Medical Waste Management Market: Demand Analysis & Opportunity Outlook 2030” which delivers a detailed overview of the United States medical waste management market in terms of market segmentation by waste type, service type, treatment method, treatment site, waste generator, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The United States medical waste management market is anticipated to grow with a CAGR of 4.45% over the forecast period, i.e., 2021 – 2030. The market in the nation is segmented by waste type into infectious & pathological waste, sharp waste, chemical & cytotoxic waste, pharmaceutical waste, radioactive waste, and others. Out of these, the infectious & pathological waste segment is projected to garner the largest revenue of USD 1776.9 Million by the end of 2030, up from a revenue of USD 1168.0 Million in the year 2020.
The United States medical waste management market is estimated to garner a revenue of USD 12443.9 Million by the end of 2030, up from a revenue of USD 8093.6 Million in the year 2020. Growing patient pool, followed by the surge in availability of better healthcare facilities, growing prevalence of infectious diseases, and the surge in focus of the government of the nation to properly dispose medical wastes are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the United States medical waste management market is segmented into four major regions, West U.S., South U.S., Midwest U.S., and Northeast U.S. Out of these, the market in South U.S. region is anticipated to garner the largest revenue of USD 5246.9 Million by the end of 2030, up from a revenue of USD 3411.8 Million in the year 2020.
Growing Number of Hospitals to Drive the Growth of the Market
In one of the statistics by the United States Bureau of Labor Statistics (BLS), the number of hospital establishments during the third quarter of 2019 in the United States was 13944.
The number of hospital establishments in the United States is growing significantly, backed by the rising prevalence of chronic diseases and the growing availability of different types of treatments to treat these diseases. With the surge in the number of hospitals, the volume of medical wastes generated would also increase, which in turn, is expected to drive the need for medical waste management solutions. Such a factor is expected to drive the growth of the market in the coming years.
However, the lack of training of medical waste management personnel is expected to operate as key restraint to the growth of United States medical waste management market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the United States medical waste management market which includes company profiling of Clean Harbors, Inc., Stericycle, Inc., WM Intellectual Property Holdings, L.L.C., Citiwaste, LLC (Sharps Compliance, Inc.), Sanpro Waste Disposal, LLC, Sharps Compliance, Inc., MEDPRO Disposal, LLC, BioServ, Inc., Pureway, BioMedical Waste Solutions, LLC, Suez Group, Veolia Group, BWS Incorporated, Daniels Sharpsmart Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the United States medical waste management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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