Australia Medical Waste Management Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: LS240821 | Research Suite: Report (PDF) & Market Data (Excel)
Medical waste management encompasses the processes involved
in the handling, treatment, and disposal of waste generated by healthcare
facilities and associated sectors. This type of waste includes materials that
are contaminated or potentially hazardous due to their association with medical
procedures, diagnostic tests, and treatment activities. Proper management is
crucial to protect public health and the environment from potential risks
associated with medical waste. The medical waste management market in Australia
is a critical component of the country’s healthcare infrastructure. As
healthcare facilities continue to expand and diversify, so too does the need
for efficient and compliant waste management systems. Medical waste, often
hazardous, requires stringent handling, treatment, and disposal processes to
mitigate environmental and public health risks.
The Australia medical waste management market is anticipated to reach USD XXX.X million by 2034 from USD XXX.X million in 2023, at a CAGR of XX.X% during the forecast period 2024-2034.
The growth is driven by several factors, including an aging
population, increased healthcare spending, and the rise in chronic diseases,
all contributing to higher medical waste generation. Additionally, advancements
in medical technology and the increasing adoption of single-use medical devices
further escalate the volume of waste produced, which is expected to further
boost the market growth in the country during the forecast period.
Growth
Drivers:
For the medical waste management
market in Australia, the key factors encouraging growth is the increasing
investment in healthcare facilities and services. For instance, based on the
data from the Australian Institute of Health and Welfare (AIHW), Australia
spent approximately AUD 241.3 billion on health in 2021-2022, which is AUD
9,365 per capita. This represents a 6% increase from the previous year,
adjusted for inflation, and is higher than the decade average of 3.4%. Higher
funding in the health care facilities such as hospitals, clinics and research
institutions means production of large volumes of medical waste. Increased
utilization and adoption of better medical technologies and effective
treatments results in more waste production which requires proper disposal.
Relevant rules as well as
documented regulations and guidelines developed by Australian authorities are
very helpful for safe and non-violation medical waste management. The
Australian Government launched the Sustainable Healthcare Module to encourage
sustainability and compliance health services, which forced healthcare
providers to maintain enhanced waste management standards. However, there is
the National Waste Policy Action Plan that was developed in 2019 that has very
high standards when it comes to handling and disposal of medical waste. Such
regulations apply to the healthcare institutions and there will be increased
emphasis on waste handling to meet the provisions of these regulations and
reduce the associated risks.
Increased awareness of the general
public regarding environmental conservation, and the effects of medical waste
on the environment affects the market. There is an increasing focus on
information concerning the environmental impact of medical waste and its
disposal especially through recycling and waste minimization. As a result of
public and government concern for the environment, there is growing pressure
for healthcare facilities to adopt environmentally sustainable disposal methods.
For instance, according to the Australian Commission on Safety and Quality in
Health Care, around a third of all Australian hospitals are part of the Global
Green and Healthy Hospitals (GGHH) network and are actively working on a range
of more than 10 sustainability goal areas, such as energy, waste, leadership,
procurement, and others. Such a trend contributes to the development of
innovations in the treatment of wastes and promotes allocation of resources in environmentally
sound practices.
Australia Medical Waste Management Segmentation:
By Waste Type:
·
Hazardous
Waste
o
Infectious
& Pathological Waste
o
Pharmaceutical
Waste
o
Sharp Waste
o
Others
·
Non-hazardous
Waste
By Services:
·
Collection, Transportation &
Storage Services
·
Treatment & Disposal Services
·
Recycling Services
·
Other Services
By Treatment Method:
·
Incineration
·
Autoclave /
Steam
·
Chemical /
Mechanical
·
Microwave
·
Irradiation
By Treatment Site:
·
Off-Site
·
On-Site
Australia Medical Waste Management Market
by Waste Type Review:
Based on the waste type, the Australia medical waste management market is segmented into two segments including hazardous waste which is further sub-segmented into infectious & pathological waste, pharmaceutical waste, sharp waste, and others. On the basis of waste type, the non-hazardous waste segment is expected to dominate the market in terms of market share, while the hazardous waste segment is predicted to grow at the highest rate in terms of CAGR during the forecast period.
Australia
Medical Waste Management Market by Services Review:
Based on the services, the market
is segmented into collection, transportation & storage services, treatment
& disposal services, recycling services, and other services. On the basis
of services, the treatment & disposal services segment is expected to be
the largest in terms of market share, while the recycling services segment is predicted
to grow at the highest rate in terms of CAGR during the forecast period.
Australia
Medical Waste Management Market by Treatment Method Review:
Based on the treatment method, the
market is segmented into incineration, autoclave / steam, chemical /
mechanical, microwave, and irradiation. On the basis of treatment method, the incineration
segment is expected to be the largest in terms of market share, while the autoclave
/ steam segment is predicted to grow at the highest rate in terms of CAGR
during the forecast period.
Australia
Medical Waste Management Market by Treatment Site Review:
Based on the treatment site, the
market is segmented into off-site, and on-site. On the basis of treatment site,
the off-site segment is expected to be the largest in terms of market share,
while the on-site segment is predicted to grow at the highest rate in terms of CAGR
during the forecast period.
Country
Outlook:
Australia's medical waste management market is characterized
by its complexity and the strict regulatory environment governing the sector.
According to the Australian Bureau of Statistics (ABS), the healthcare and
social assistance sector is the largest employer in the country, comprising
over 15% of the total workforce. There are now over 1.7 million people working
in Health Care and Social Assistance in Australia, of which 30 per cent are
working in hospitals. With the expansion of healthcare services, the volume of
medical waste generated has increased exponentially, driving the demand for
specialized waste management services in the country.
Key
Companies in Australia
Medical Waste Management Market:
The
research report offers a competitive analysis of prominent companies operating
in the Australia medical waste management market. Some of the leading players
profiled in the market research report include:
·
REMONDIS
·
Cleanway
·
Veolia
·
Med-X Solutions
·
Cleanaway Daniels
·
Nationwide Waste Solutions Pty
Ltd.
·
Ace Waste
· Other Player’s