USD 6 billion
Medical Waste Management Market Size, Share, Growth Analysis, By Type(Non-Hazardous Waste, and Hazardous Waste, Infectious & Pathological Waste (Pharmaceutical Waste, Sharp Waste), By Service(Collection, Transportation, & Storage Services, Treatment & Disposal Services (Incineration), By Treatment site(Onsite, and Offsite.), By Application(Hospitals, Retail Pharmacy, Blood Banks, Laboratories), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2135 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
126
|Figures:
79
Medical Waste Management Market Insights
Global Medical Waste Management Market size was valued at around USD 8.7 billion in 2022 and is poised to grow from USD 9.2 billion in 2023 to USD 14.89 billion by 2031, at a CAGR of 6.2% over the forecast period (2024–2031).
The prevalence of chronic diseases, the amount of medical waste produced, growing older population, and technological advancements for the effective treatment of medical waste are all driving the growth of the global medical waste management market. The demand for effective medical waste disposal in the environment increases as well as growing public awareness of serious health issues and the importance of keeping impeccable cleanliness are driving the growth of the market.
As the pharmaceutical and healthcare industries grow, particularly in developing countries, the variety of medical wastes—such as biological safety cabinets, infectious, cytostatic, photochemical & pathological waste, slides/paraffin blocks, old X-ray film, outdated medications, solvents, and chemical products grows. The demand for cutting-edge recycling and disposal technologies that will permit the efficient and environmentally friendly handling of various forms of medical waste is anticipated to increase as a result. Government programs to improve medical waste management also foster market growth. Moreover, the market is growing due to increased funding for research work and widespread use of medical technologies and products. Additionally, the market will have numerous opportunities due to the growing number of awareness programs on the management.
US Medical Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Collection, Transportation, & Storage Services
Fastest Growth
Collection, Transportation, & Storage Services
Growth Rate
5.1% CAGR
Global Medical Waste Management Market ($ Bn)
Country Share for North America Region (%)
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Medical Waste Management Market Segmental Analysis
Global Medical Waste Management market is segmented into Type, service, Treatment site, Application, and region. Based on type, the market is segmented into Non-Hazardous Waste, and Hazardous Waste (Infectious and Pathological Waste, Sharp Waste, Pharmaceutical Waste and Others). Based on service, the market is segmented into Collection, Transportation, & Storage Services, Treatment & Disposal Services (Incineration, Autoclaving, Chemical Treatment, and Others), and Recycling Services. Based on Treatment site, the market is segmented into Onsite, and Offsite. Based on on Application, the market is segmented into Hospitals, Retail Pharmacy, Blood Banks, Laboratories, Research Institutions, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The non-hazardous segment contributes to the largest share of the global medical waste management market. This is majorly because of the bulk of non-hazardous or non-infectious wastes originating at healthcare facilities, comprising paper and plastic packaging materials among other general wastes. Non-hazardous medical waste includes a noticeably huge proportion of total medical waste, and thus, handling it is one of the most important operations in healthcare services. Moreover, non-hazardous waste is often less expensive to handle as compared to hazardous waste, which further contributes to the domination of the former in this market.
On the other hand, hazardous medical waste forms the fastest-growing segment. The growth in this segment is due to the increased awareness and related strict rules and regulations about hazard-free disposal of hazardous materials like infectious waste, chemical waste, and radioactive waste. The growing incidence of diseases and the corresponding increase in the use of advanced medical treatment and technologies that generate more hazardous wastes accelerate its growth rate. Moreover, advancement in hazardous wastes' treatment and disposal technologies make it easier for healthcare facilities to manage these kinds of wastes effectively, hence surging the growth of this market segment.
Analysis by Site
The offsite segment currently leads in the global medical waste management market. This is further reinforced by the fact that most healthcare facilities, especially smaller clinics and hospitals, do not have the wherewithal in terms of resources and infrastructure to manage the treatment and disposal of the waste generated within the premises. Offsite waste management therefore refers to transporting medical waste to specially built facilities that are well equipped for its safe and efficient treatment and disposal. This option is more convenient and better at meeting strict regulations since offsite facilities are fully equipped with advanced technologies and trained personnel to handle all types of medical waste.
On the other hand, the onsite segment is the fastest growing one. It is expected that the onsite solution will be mostly preferred by bigger healthcare facilities and hospitals in order to have more control over the process of disposal of waste and reduce costs related to transporting waste to off-site facilities. Advances in compact, self-contained treatment technology, such as autoclaves and small incinerators, make on-site treatment for these facilities quite possible. In addition, onsite waste management provides faster and more direct compliance with regulatory requirements and optimizes sustainability through the reduction of environmental impacts from waste transport.
Global Medical Waste Management Market By Product
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Medical Waste Management Market Regional Insights
Based on regional analysis, the North American market, especially the U.S. and Canada, had the greatest revenue share in the global market t. This is because of the region's rapidly growing healthcare industry. About 19.7% of the nation’s Gdp will be spent on healthcare in 2020, making it one of the largest industries in the country. and found that the cost of treating chronic diseases was rising. The extensive hospital stays and treatments that these diseases are known to necessitate result in the production of a sizable volume of residues and medical waste. Additionally, growing government initiatives for disposal of medical waste are assisting market revenue growth.
Due to growing social awareness and the installation of strict regulations for the safe disposal of residues and byproducts, the Asia Pacific is expected to experience the highest growth in the near future. Growth should be driven by the adoption of environmentally friendly disposal and recycling processes.
Global Medical Waste Management Market By Region
- Largest
- Fastest
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Medical Waste Management Market Dynamics
Medical Waste Management Market Drivers
Growing amount of medical waste
- Healthcare waste is any waste produced by healthcare facilities, biomedical research facilities, healthcare facilities, medical laboratories, and minor or dispersed sources. Hospitals globally produce about 0.5 kg of waste per bed each day, as according research on waste production. However, depending on the local context, higher-income countries produce far more waste than for other countries.
Increased public awareness of effective and environmentally friendly
- The market growth is expected to grow rapidly in the upcoming years due to the increasing quantity of trash produced globally and increased public awareness of effective and environmentally friendly waste management. This surge in waste generation, coupled with stricter environmental regulations and a growing emphasis on sustainability, is driving demand for innovative waste management solutions. The shift towards circular economy principles, which prioritize waste reduction, reuse, and recycling, further presents opportunities for growth in the waste management sector.
Medical Waste Management Market Restraints
Lack of knowledge of the dangers of medical waste
- For various stages of waste management, there are currently no clear guidelines or adequate supervision. Due to lack of finances, less knowledge of the dangers of medical waste, and the absence of an effective training course for members of staff, health authorities and hospital administrators do not take enough responsibility for medical waste. Additionally, unsafe medical waste is dumped in an unhygienic municipal waste landfill after just being combined with general waste. Due to the illegal segregation and recycling of medical waste at the final disposal site, there are worries about environmental pollution and the spread of infectious diseases.
Infrastructure Limitations will hinder the market growth:
- Inadequate waste management infrastructure, particularly in developing regions, poses a significant challenge for the medical waste industry. The lack of proper collection, storage, transportation, and treatment facilities leads to unsafe disposal practices, increasing the risk of environmental contamination and public health hazards. These infrastructure gaps hinder effective waste management and contribute to the overall burden of medical waste.
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Medical Waste Management Market Competitive Landscape
Information of each player may be obtained in the competitive landscape for the medical waste management industry. A business overview, financials, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance are all included in the data. In the data points above, only the companies' emphasis on the medical waste management market is informed.
Medical Waste Management Market Top Player’s Company Profiles
- Veolia Environnement S.A. (France)
- Clean Harbors, Inc. (US)
- Stericycle, Inc. (US)
- Waste Management, Inc. (US)
- Casella Waste Systems, Inc. (US)
- Covanta Holding Corporation (US)
- Hazardous Waste Experts (US)
- REMONDIS SE & Co. KG (Germany)
- Biomedical Waste Solutions, LLC (US)
- EcoMed Services (Canada)
- GRP& Associates, Inc. (US)
- BWS Incorporated (US)
- Medpro Disposal, LLC (US)
- GIC Medical Disposal (US)
- Gamma Waste Services (US)
- Triumvirate Environmental (US)
- EPCO (US)
- ALL MEDICAL WASTE AUSTRALIA PTY LTD. (Australia)
- PRO-DISPOSAL MEDICAL WASTE SERVICES (US)
- SSO MEDICAL WASTE MANAGEMENT (US)
- Safeguard Waste Solutions (US)
- Medwaste Industries, Inc. (US)
- DULSCO (UAE)
Medical Waste Management Market Recent Developments
- In June 2024, Waste Management, Inc. and Stericycle announced that they entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle. Stericycle is a premier provider of regulated medical waste and compliance services and secure information destruction services.
- In June 2024, the Council of Scientific and Industrial Research (CSIR) and AIIMS, New Delhi facilitated an MoU to pilot technology for Biomedical Waste Management. They came together to install a pilot project and study ‘Conversion of Pathogenic Biomedical Waste to Value Added Soil Additives'.
- In January 2024, MedPro Waste Disposal acquired a medical waste transporting unit in early 2024, further consolidating its service offerings in the medical waste sector. These moves indicate ongoing strategic expansions and consolidations in the industry.
Medical Waste Management Key Market Trends
- Although it is the most common and widely used method of disposal, burning medical waste is not environmentally safe as it increases global warming, so the incineration segment is expected to account for a significant part of the market. In the coming future, factors like convenience and lower capital costs are likely to drive this segment's growth. The introduction of new companies and government efforts are also anticipated to accelerate the market segment's growth. For instance, the Indian government opened a facility in August 2021 for the disposal of biomedical waste in Buxar Municipality, Bihar, India. This facility has the capacity to process 50 kg of biomedical waste per hour that is made of cotton, plastic, or other similar materials. The market segment is thus expected to grow over the course of the forecast period as a result of the factors listed.
Medical Waste Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global medical waste management market analysis, the volume of medical waste produced globally is rising, there are more severe rules for its management, and there are more government initiatives to assist proper medical waste disposal, all of which are driving market growth. Additionally, the market will have numerous opportunities due to the growing number of awareness programmes on medical waste management.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.7 billion |
| Market size value in 2031 | USD 14.89 billion |
| Growth Rate | 6.2% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Medical Waste Management Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Waste Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Waste Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Waste Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Waste Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Waste Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Waste Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Medical Waste Management Market Report Snapshots
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