Medical Waste Management Market Research Report Segmented By Type of Waste (Sharps, Pathological waste, Pharmaceutical waste,Chemical waste, Infectious waste, Gene toxic waste); Service (Collection, Transportation, & Storage Services, Treatment & Disposal Services); Treatment technology (Non-incineration system, Incineration system); Treatment Site (Offsite Treatment, Onsite Treatment); Nature of Waste (Non-hazardous, Hazardous); Waste Generator (Hospitals, Retail pharmacy, Laboratories, Blood banks, Research institutions); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Medical Waste Management Market Size (2024-2030)

The estimated size of the Medical Waste Management Market is projected to attain USD 9.87 billion by 2030, witnessing an increase from USD 14.94 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 6.1% over the period from 2024 to 2030. Medical waste constitutes materials discarded by healthcare facilities such as hospitals, dental clinics, blood banks, and research centers, which may carry infectious properties. The medical waste generated by these establishments is categorized as either hazardous or non-hazardous, with 85% falling into the non-hazardous category and the remaining 15% deemed hazardous.

Market Drivers:

The expansion of the medical waste management market is propelled by various factors, including the burgeoning healthcare sector and escalating government initiatives. The growth is further fueled by the increasing aging population afflicted with chronic ailments like cancer and cardiovascular diseases, coupled with a rise in accident cases. The proliferation of hospitals, clinics, and research centers for routine operations contributes to the escalating waste production. Additionally, a heightened awareness of environmental issues and waste management augments market growth.

Market Restraints:

Global market growth in medical waste management encounters obstacles due to factors such as the risk posed by alternative products and the prevalence of highly competitive scenarios within the medical waste management sector. Furthermore, limited awareness regarding health hazards and a shortage of medical professionals serve as constraints to the expansion of the medical waste management market.

COVID-19 Impact on Medical Waste Management Market:

The global Medical Waste Management Market has experienced a positive impact due to the sudden emergence of the novel coronavirus (COVID-19). Throughout the pandemic, substantial quantities of medical waste were disposed of by hospitals, laboratories, diagnostic centers, and clinics. The heightened demand for proper disposal of medical waste during the pandemic, driven by the imperative to prevent the spread of infection, has positively influenced the market. The COVID-19 period witnessed the accumulation of significant volumes of medical waste, surpassing the capacity for its proper containment. Various developed countries have responded by employing advanced technologies to manage biomedical waste effectively.

Segmentation Analysis:

The global Medical Waste Management Market undergoes segmentation and sub-segmentation based on the type of waste, service, treatment site, treatment technology, and waste generator.

Medical Waste Management Market - By Type of Waste

• Sharp Objects
• Pathological Waste
• Pharmaceutical Waste
• Chemical Waste
• Infectious Waste
• Gene Toxic Waste

During the COVID-19 period, there is an anticipated rapid growth in the segments of infectious waste and pathological waste, with a significant Compound Annual Growth Rate (CAGR).

Medical Waste Management Market - By Service

• Collection, Transportation, & Storage Services
• Treatment & Disposal Services
  • Incineration
  • Autoclaving
  • Chemical Treatment
  • Other Treatments

In 2019, the dominating segment is collection, transportation, and storage services, attributed to stringent regulations governing the collection, storage, and transportation of medical waste. The chemical treatment segment follows closely, facilitated by the ready availability of disinfecting chemicals like hydrogen peroxide.

Medical Waste Management Market - By Treatment Technology

• Non-Incineration System
• Incineration System

Incineration system treatment technology is widely adopted despite its environmental impact due to gas emissions causing global warming.

Medical Waste Management Market - By Treatment Site

• Offsite Treatment
• Onsite Treatment

In 2020, the offsite treatment segment dominates, driven by the increased prevalence of chronic diseases, utilization of innovative technologies, and advancements in research and development activities. Onsite treatment experiences significant growth due to the rising volume of biomedical waste and the presence of key players.

Medical Waste Management Market - By Nature of Waste

• Non-Hazardous
• Hazardous

The global medical waste management market is primarily dominated by the non-hazardous waste segment, attributed to the proliferation of hospitals and clinics. The hazardous waste segment is expected to experience substantial growth due to an increase in infectious diseases and advancements in pharma and biotechnology industries.

Medical Waste Management Market - By Waste Generator

• Hospitals
• Retail Pharmacy
• Laboratories
• Blood Banks
• Research Institutions

Hospitals are the major waste generators globally, producing high volumes of waste. The growth is fueled by an increasing patient population, a rise in chronic diseases, and a surge in surgeries, especially during the COVID-19 period.

Medical Waste Management Market - By Regional Analysis:

In 2020, North America dominates the medical waste management market, maintaining its position throughout the timeline. This dominance is attributed to the increasing prevalence of chronic diseases, growing awareness of waste management, and a rise in medical waste volume. The U.S. holds the highest share in the region.

In February 2018, Environmental and Climate Change Canada planned to launch a new notice processing system in June 2018. In the U.S., several hospitals have initiated recycling single-use products sold back to hospitals for the original cost.

Europe is witnessing considerable growth in the medical waste management market due to an aging population and reimbursement policies.

Asia-Pacific is expected to experience the highest CAGR during the historical period. Factors such as a growing elderly population, an increase in hospitals and clinics, rising social awareness, and strict rules for medical product disposal contribute to this growth. Japan is expected to play a significant role.

Latin America and the Middle East & Africa are anticipated to have notable growth in the medical waste management market.

Medical Waste Management Market - Key Players

Major players in the medical waste management market include:

1. Stericycle (US)
2. Triumvirate Environmental (US)
3. Veolia Environnement S.A. (France)
4. Suez Environnement (France)
5. REMONDIS AG & Co. KG (Germany)
6. Sharps Compliance, Inc. (the U.S)
7. Waste Management, Inc., (US)
8. Clean Harbors (US)
9. Daniels Sharpsmart Inc. (Australia)
10. EcoMed Services (US)
11. GRP & Associates (US)
12. BioMedical Waste Solutions, LLC (US)
13. BWS Incorporated (US)
14. MedPro Disposal (US)
15. GIC Medical Disposal (Canada)
16. Republic Services, Inc. (US)
17. Gamma Waste Services (US)
18. EPCO (Saudi Arabia)
19. Casella Waste Systems, Inc. (the US)
20. All Medical Waste Australia Pty Ltd. (Australia)

Recent Market Developments

1. On October 24, 2017, PROSHERD partnered with MedPro Waste Disposal, offering top-notch services for medical waste disposal and information destruction.
2. On July 06, 2021, Stericycle and UPS Healthcare collaborated to manage the reverse logistics of medical waste.
3. On January 13, 2020, Clean Harbors, a U.S. environmental services firm, inaugurated a new Capability Centre in Hyderabad.