Medical Waste Management Market by Service (Collection, Treatment, Disposal, Incineration, Recycling), Type of Waste (Non-hazardous, Infectious, Pharmaceutical), Treatment Site (Offsite, Onsite), Waste Generator (Hospital, Labs) - Global Forecast to 2028

Medical Waste Management Market by Service (Collection, Treatment, Disposal, Incineration, Recycling), Type of Waste (Non-hazardous, Infectious, Pharmaceutical), Treatment Site (Offsite, Onsite), Waste Generator (Hospital, Labs) - Global Forecast to 2028

The global medical waste management market is projected to reach USD 12.2 billion by 2028 from USD 9.2 billion in 2023, at a CAGR of 5.9% during the forecast period. Market growth is driven by factors such as rise in traumatic and burn injuries, an increase in wound occurrences attributable to a surge in invasive procedures, and heightened durations of hospital stays. Where as lack of inadequate infrastructure for medical waste management and minimum to no awareness of the different technologies which are used for medical waste management in the developing and low income countries are the major factors impeding the growth of ths market.

“The collection, transport and storage services segment accounted for the highest growth rate in the medical waste management market, by services, during the forecast period.”

The medical waste management market is divided into collection, transport and storage services, treatment & disposal services and recycling services. Treatment & disposal services is estimated to hold the highest CAGR in 2022. Rise in the per capital income of the major regions like US and UK and increase in the healthcare facilities has improved the healthcare facilities which acts as one of the major factor for the growth of this market.

“The non-hazardous waste segment accounted for the highest growth rate in the medical waste management market, by type of waste, during the forecast period.”

The medical waste management market is segmented into non-hazardous waste and hazardous waste based on type of waste. In 2022, the non-hazardous waste segment accounted for the highest growth rate in the medical waste management market. Increasing number of geriatric population leading to increase in diabetic cases and other health conditions like kidney and liver diseases are major factors contributing to the growth of this segment.

“Offsite treatment segment accounted for the highest share”

Based on treatment site, the medical waste management market has been segmented into offsite treatment and onsite treatment. In 2022, the offsite treatment segment accounted for the highest CAGR. This can be attributed to the increasing focus on waste management with stringent regulations and increased legal liabilities on pharmaceutical companies, hospitals and other healthcare facilities for the appropriate disposal of the medical waste to reduce the enivironmental contamination.

“Hospital & diagnostic laboratories segment accounted for the highest share”

Medical waste management market is segmented into hospitals & diagnostic laboratories and other waste generators based of waste generator. In 2022, hospitals & diagnostic laboratories segmented accounted for the highest share of this market. The highest share was attributed to the increased government focus on controlling and reducing the infectious diseases and implementing waste reduction initiatives such as seggregartion reducing the single use medical waste and possible treatment of medical waste in hospital for easing the burden of waste management on the government bodies.

“Asia Pacific: The fastest-growing region in medical waste management market”

The global medical waste management market is segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countfries. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising number of conferences for medical waste management awareness is driving the growth of the medical waste management market in this region.

The break-up of the profile of primary participants in the medical waste management market:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 – 30%

By Designation: C-level - 27%, D-level - 18%, and Others - 55%

By Region: North America - 42%, Europe - 31%, Asia Pacific - 20%, Latin America – 4%, Middle East & Africa- 2%, GCC Countries- 1%

The key players in this market are Veolia Environnement S.A. (France), Clean Harbors, Inc. (US), Stericycle Inc. (US), Waste Management, Inc. (US), Cleanaway Waste Management Limited (Australia), Casella Waste Systems, Inc. (US), Sharps Compliance, Inc. (US), Covanta Holding Corporation (US), Hazardous Waste Experts (US), REMONDIS SE & Co. KG. (UK), BioMedical Waste Solutions, LLC (US), EcoMed Services (Canada), GRP & Associates, Inc. (US), BWS Incorporated (US), MEDPRO Disposal LLC (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental (US), EPCO (Saudi Arabia), All Medical Waste Australia Pty Ltd. (Australia), Pro-Disposal Medical Waste Services (Georgia), SSO Medical Waste Management (US), Safeguard Waste Solutions (US), MedWaste Industries Inc. (US), DULSCO (UAE).

Research Coverage:

This report provides a detailed picture of the global medical waste management market. It aims at estimating the size and future growth potential of the market across different segments, such as services, type of waste, treatment site, waste generator and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities and challenges, influencing the growth of the medical waste management market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions and services, key strategies. New service launches and recent developments associated with the medical waste management market. Competitive analysis of upcoming startups in the medical waste management market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall medical waste management market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (increasing volume of healthcare waste, growing geriatric and obese population and rising number of surgical procedures), restraints (high capital investment), opportunities (increasing number of medical waste awareness programs in developed countries and rising adoption of single use medical non wovens and devices) and challenges (lack of awareness about medical waste in developing countries) influencing the growth of the medical waste management market.

Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service launches in the medical waste management market.

Market Development: Comprehensive information about lucrative markets – the report analyses the medical waste management market across varied regions.

Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the medical waste management market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Veolia Environnement S.A. (France), Clean Harbors, Inc. (US), Stericycle Inc. (US), Waste Management, Inc. (US), Cleanaway Waste Management Limited (Australia), Casella Waste Systems, Inc. (US), Sharps Compliance, Inc. (US), among others in the medical waste management market strategies.