All the waste produced by hospitals, laboratories, and medical research facilities, is referred to as healthcare waste, the improper disposal & treatment of which is hazardous to health and leads to disease transmission upon exposure. Since this waste poses a high risk to human life, a proper waste management system is crucial to be in place.
The GCC Healthcare Waste Management Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The rapid growth of the healthcare sector in the GCC leads to a surge in the quantity of waste generated by laboratories, clinics, and hospitals. According to conservative estimates, GCC countries produce more than 50 tons of medical waste every day. In addition to this, rising awareness regarding the need for the safe management of medical waste, which poses a higher risk to human health, boosts the demand for a proper healthcare waste management system.
Moreover, most medical waste generated by blood banks, autopsy centers, diagnostic & research centers, and hospitals is hazardous & can cause serious health issues to an individual if exposed to it. Hence, the need for an efficient healthcare waste management system significantly increases, which would propel the overall market growth in the coming years, further states the research report, “GCC Healthcare Waste Management Market Analysis, 2021.”
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 14% |
| Countries Covered | Saudi Arabia, Qatar, Oman, Bahrain, Kuwait |
| Key Companies Profiled | Remondis Medison GmbH, Suez Environment S.A, Veolia Environment S.A., Averda, SEPCO Environment, Saudi Investment Recycling Company, and Others. |
| Unit Denominations | USD Million/Billion |
COVID-19 Outbreak Positively Impacted the GCC Healthcare Waste Management Market
The COVID-19 pandemic, which resulted in the enforcement of several guidelines, such as aptly managing COVID-19 contaminated medical waste and other safety practices to prevent cross-contamination, essentially required healthcare waste management to contain the spread of disease. Therefore, the effects of the pandemic were positive on the GCC Healthcare Waste Management Market. Further, the crisis has driven the use of personal protective equipment (PPE), again leading to a surge in plastic waste & pollution and, in turn, fueling the market growth.
Moreover, post-COVID-19, most people will continue wearing masks, which will lead to an increase in the medical waste disposed of daily. Thus, the GCC Healthcare Waste Management Market will continue to grow significantly during the forecast timeframe.
