Medical Waste Management – A Global Market Overview

Medical Waste Management – A Global Market Overview

Medical Waste Management Market Trends and Outlook

Medical Waste Management is defined as the process of handling biomedical waste using various services for proper collection, storage, treatment and disposal from diagnostic laboratories, clinics and hospitals. This waste typically comprises the byproducts of treatment procedures and tests performed at these facilities, thereby safeguarding the health of general population, animals and environment. Worldwide, the demand for Medical Waste Management is expected to maintain a CAGR of 7.4% between 2024 and 2030 to reach a projected US$18.8 billion by 2030 from an estimated US$12.2 billion in 2024.

The volume of biomedical waste has increased as a result of healthcare institutions operating and expanding across geographic boundaries at a faster pace due to factors, such as the rise in the patient population, the prevalence of chronic diseases, government initiatives for the efficient management of medical waste and an increase in healthcare services and products. These biomedical waste products, which might be infectious or non-infectious, are undesirable. This waste has pathogens or polluted microorganisms that damage the environment and cause chronic illnesses in people and animals. Medical Waste Management can also reduce the danger of environmental damage. Handling such hazardous waste professionally is necessary to reduce the associated hazards, maintain a healthy and disease-free environment and boost the facility's credibility.

The demand for Medical Waste Management has been exhibiting impressive growth on a global basis, the major reasons for which include expansion in healthcare services across the globe, surge in medical waste generation, increasing awareness on eco-friendly medical waste management, growing governmental initiatives for medical waste disposal to combat the issue sustainably and advancement in technology for maintaining safety at the source itself.

Medical Waste Management Regional Market Analysis

North America is anticipated to be the largest global market for Medical Waste Management, owing to tremendous surge in volume of medical waste in the region, prevalence of chronic diseases, existence of key stakeholders and increase in awareness of ill-effects of medical waste on environment at large. However, Asia-Pacific is estimated to be the fasted growing region in managing medical waste, major reasons for which include an increasing geriatric population, growing demand for healthcare services & products and infrastructural development. Apart from these, the reasons cited above in the case of North America are also evident in Asia-Pacific, propelling further demand growth for Medical Waste Management.

Medical Waste Management Analysis by Waste Generator

In terms of medical waste generation, Hospitals are obviously the major contributors, because of the sheer volume of out- and in-patients. The number of medical procedures carried out in hospitals has been growing exponentially, resulting in generation of huge amounts of waste. Because of this, the demand for Medical Waste Management from Hospitals accounts for the largest share. Diagnostic Laboratories stand second in terms of generating medical waste, given the number of tests these facilities conduct on a daily basis. The demand for Medical Waste Management from both these categories of waste generators is likely to be fast growing, as there have been several global sensitization programs and conferences promoting the use of novel technologies and practices for Medical Waste Management.

Medical Waste Management Analysis by Type of Waste Generated

The global market for Medical Waste Management is segmented into Hazardous and Non-Hazardous categories based on the type of waste generated from the source. Non-Hazardous Waste corners the larger market share globally due to multifold increase in number of healthcare facilities & products, advanced healthcare infrastructure & facilities, growing economies and revised regulatory guidelines by the governments on effective management of medical waste. As far as growth is concerned, though, the market for managing Hazardous medical waste would post a faster rate, since this category comprises infectious, pathological, sharps and reactive waste that are highly detrimental to living beings. This category of medical waste products requires diligent treatment and disposal for ensuring that it does not get back into the regular ecosystem and despoil it.

Medical Waste Management Analysis by Service Type

Collection, Transportation & Storage services are expected to dominate the global market for Medical Waste Management. Increased awareness on ill-effects of medical waste on humans, animals & environment by the general public and governments, in addition to reducing healthcare costs by improving services for effectively collecting, transporting & storing such waste prior to disposal are generating demand for this service segment of Medical Waste Management. Treatment & Disposal, though, is likely to be the fastest growing service in the global Medical Waste Management market. This is further categorized into Autoclaving, Biological, Chemical, Incineration & Irradiation, among which incineration is the largest. This entails burning waste in a furnace at high temperatures, which generates a small quantity of ash that is usually placed in a landfill. Because of being viewed as a polluting process, the use of incineration is limited and not recommended, due to which the segment is likely to exhibit the slowest growth within Treatment & Disposal services. Autoclaving involves the use of pressurized steam to sterilize medical waste and is highly popular because of being economical, easy and environmentally friendly. The demand for this service to treat and dispose medical waste will likely post the fastest growth over the analysis period.

Medical Waste Management Market Report Scope

This global report on Medical Waste Management analyzes the market based on waste generator, type of waste generated, service type and treatment site. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.

Key Metrics

Historical Period: 2021-2023

Base Year: 2023

Forecast Period: 2024-2030

Units: Value market in US$

Companies Mentioned: 90+

Medical Waste Management Market by Geographic Region
• North America (The United States, Canada and Mexico)
• Europe (France, Germany, Italy, Spain, The United Kingdom and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
• South America (Argentina, Brazil and Rest of South America)
• Middle East & Africa

Medical Waste Management Market by Waste Generator
• Diagnostic Laboratories
• Hospitals
• Nursing Homes
• Pharmaceutical Manufacturers
• Physician Offices

Medical Waste Management Market by Type of Waste Generated
• Hazardous Waste
• Infectious & Pathological Waste
• Pharmaceutical Waste
• Sharp Waste
• Other Hazardous Waste Types
• Non-Hazardous Waste

Medical Waste Management Market by Service Type
• Collection, Transportation & Storage
• Treatment & Disposal
• Autoclaving
• Biological
• Chemical
• Incineration
• Irradiation
• Recycling



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