Medical Waste Management Market: Industry Trends and Global Forecasts, till 2035

Medical Waste Management Market: Industry Trends and Global Forecasts, till 2035

The Medical Waste Management Market is valued at USD 5 billion in 2024 growing at a CAGR of 13% during the forecast period 2024-2035.

Medical waste encompasses waste generated through healthcare activities such as clinical research, diagnosis, and drug development. This includes items like used or unused syringes, expired medicines, diagnostic samples, blood, cottons, bandages, medical devices, and even traces of chemotherapy waste. It is broadly classified as infectious, hazardous, radioactive, and non-hazardous waste. According to WHO, nearly 15-20% of the medical waste generated globally is considered hazardous, infectious, or radioactive. With the global population surge, advancements in medical science and technology, emergence of new infectious diseases, and an increase in hospitals and healthcare facilities, the US alone generates over 6 million tonnes of healthcare waste annually. It's projected that the total amount of medical waste generated worldwide will grow by 2-3% each year.

Healthcare waste contains harmful microorganisms that can infect patients, healthcare workers, and the general public, as well as pollute the environment. Consequently, an increasing number of medical waste generators such as hospitals, clinics/labs, and pharmaceutical companies are turning to medical waste management service providers equipped with advanced technologies and expertise for waste disposal. These providers offer comprehensive solutions from waste pick-up to final disposal of hazardous and bio-hazardous materials, adhering to safety standards set by government regulatory bodies such as the US Environmental Protection Agency (EPA), Occupational Safety and Health Administration (OSHA), and European Environment Agency (EEA). Medical waste management companies offer several benefits, including enhancing human safety (for waste handlers, scavengers, and individuals near hospitals), streamlining waste management processes, and reducing the substantial costs associated with waste treatment and disposal. By adopting sustainable practices for medical waste segregation, collection, safe storage, transportation, and disposal provided by these firms, the prevalence rates of diseases like HIV/AIDS, sepsis, hepatitis, and others are expected to significantly decrease. Moreover, effective medical waste management can help mitigate environmental risks. With outsourcing gaining acceptance as a viable and advantageous business model in this sector, the global medical waste management market is poised for remarkable growth during the forecast period from 2024 to 2035.

Key Market Segments

Type of Service Offered

Collection

Treatment

Recycling

Disposal

Type of Waste

Hazardous Waste

Non-hazardous Waste

Treatment Site

On-site

Off-site

Treatment Method

Incineration

Autoclave / Steam

Chemical / Mechanical

Microwave

Irradiation

Category of Waste

Incineration

Autoclave / Steam

Chemical / Mechanical

Microwave

Irradiation

Key Geographical Regions

North America

Europe

Asia-Pacific

Latin America

Middle East and North America

Rest of the World

Research Coverage:

An extensive evaluation of the overall market landscape of medical waste management service providers is conducted, considering various pertinent parameters. These parameters include the year of establishment, company size measured by employee count, headquarters location, types of waste managed (such as infectious, hazardous, radioactive, and non-hazardous waste), types of services offered (including collection, segregation, storage, transportation, treatment, recycling, and disposal), treatment methods employed (such as incineration, autoclave/steam, chemical/mechanical, microwave, and irradiation), treatment site (on-site or off-site), and waste generators (such as pharmaceutical companies, clinics/labs, hospitals, and others).

A thorough analysis of the competitiveness of medical waste management service providers is conducted, focusing on supplier experience, portfolio diversity (including types of waste managed, treatment site, treatment methods, and waste generators), and the range of services provided.

Detailed profiles of leading companies (selected based on our proprietary criteria) providing medical waste management services. Each profile includes a concise company overview, financial details, service offerings, recent advancements, and an expert outlook on future prospects.

An examination of recent advancements in the medical waste management sector, including details on various partnerships, collaborations, and expansion endeavors occurring within this field from 2018 to 2023.

A comprehensive examination of the factors influencing the expansion of the medical waste management market. This analysis entails identifying and evaluating key drivers, potential limitations, emerging prospects, and current challenges.

An extensive market forecast analysis is conducted to estimate the current market size and future potential for medical waste management over the next 11 years. Drawing from various parameters, anticipated adoption trends, and validated through primary research, we have developed an informed projection of market size during the forecast period from 2024 to 2035.

Comprehensive projections are provided for the current and future opportunities within the medical waste management market across various types of services offered, including collection, treatment, recycling, and disposal.

Detailed projections are presented for the current and future opportunities within the medical waste management industry across different types of waste, including hazardous and non-hazardous categories.

Elaborate projections are provided for the current and future opportunities within the medical waste management market across various treatment sites, encompassing both on-site and off-site facilities.

Comprehensive projections are outlined for the current and future opportunities within the medical waste management market across different treatment methods, including incineration, autoclave/steam, chemical/mechanical, microwave, and irradiation.

Detailed projections are provided for the current and future opportunities within the medical waste management industry across different categories of waste, including general, infectious, pathological, sharp, and pharmaceutical waste.

Elaborate projections are presented for the current and future opportunities within the medical waste management market across key geographical regions, including North America, Europe, Asia-Pacific, Latin America, the Middle East and North Africa, and the Rest of the World.

Key Benefits of Buying this Report

The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.

Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.

The report provides stakeholders with a pulse on the Medical Waste Management Market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.

Leading Market Companies

ACE WASTE

Averda

Axil Integrated Service

Clean Harbors

Cleanaway Waste Management

Curtis Bay Medical Waste Services

E-Coli Waste Management

GreenTech Environ Management

Heritage Environmental Services

Initial Medical

Medicare

MedPro Disposal

REMONDIS Mendison

Stericycle

Trilogy MedWaste

Triumvirate Environmental

Veolia

WM