The global medical waste management market is forecast to reach US $11.1 billion by 2030 and will grow at a compound annual growth rate (CAGR) of 6% during the forecast period from 2021-2030. In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Medical Waste Management Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate. A rising geriatric population, a rise in chronic disease prevalence, and improvements in technology are contributing to the growth of the global medical waste management market. The Central Pollution Control Board (CPCB) reports that the medical waste generation in India increased from June 2020 to May 2021 due to the increased number of diagnostic tests and treatment of COVID-19 patients. Governments are taking steps for the effective management of medical waste in order to stimulate the growth of the market. For example, The United States Environmental Protection Agency signed a rule in 2019 to streamline the standards for handling hazardous pharmaceuticals waste, which states that the draft standards will be revised to add nicotine to the P075 listing. Growing research funding and the high utilization of biomedical products and technology are driving the market’s growth. © Report Ocean
The global waste recycling services market size is anticipated to reach USD 81.3 billion by 2028, registering a CAGR of 5.2% from 2020 to 2028. Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth. Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects. Rapid industrialization has boosted the consumption of harmful chemicals, resulting in the generation of a substantial amount of hazardous waste. Furthermore, increased agricultural production has boosted the livestock & agricultural crop wastes along with agro-industrial by-products. Thus, increased generation of waste is likely to boost the demand for services for waste recycling. Governments across the world are embracing the public-private partnership model to match the operational knowledge provided by the private sector. Rising focus on greening the waste recycling industry with emphasis on the 3Rs i.e. reduce, reuse, and recycle is critical to achieving the environmental, economic, and social goals of sustainable development, thereby driving the market growth. © Research and Markets
