Medical Waste Management Market (Nature of Waste: Non Hazardous Waste and Hazardous Waste; Waste Type: Sharps, Infectious & Pathological Waste, Radioactive Waste, Pharmaceutical Waste, and Non-infectious Waste; Waste Generator Type: Large Quantity Waste Generators and Mid & Small Quantity Waste Generators; and Service Type: On-site Services and Off Site Services) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2030

The global Medical Waste Management market gathered revenue around USD 10.22 billion in 2021 and market is set to grow USD 20.245 billion by the end of 2030 and is estimated to expand at a modest CAGR of 8.7% during the prediction period 2022 to 2030.  

Growth Factors:

Medical waste is waste generated from healthcare and medical facilities. The release of biological hazards and chemical gases into environment can have disastrous effects on the wellbeing and health of general population. The services and solutions within the global medical waste management market offer a safe method for disposal of medical waste in order to prevent its hazardous effects on human health. Rise in awareness about effective and safe management of medical waste is anticipated to propel the global medical waste management market in the next few years.

Incineration technique employed for treatment, disposal, and management of medical waste has been one of the oldest and most widely adopted techniques in the U.S.

However, implementation of new policies and emission norms laid down by regulatory authorities have led to evolution and adoption of new techniques of medical waste management in the country

In order to achieve effective disposal of medical waste, several waste management companies are coming up with novel and advanced non-incineration management techniques such as steam autoclave treatment, chemical treatment, ozone treatment, pyrolysis, and electron beam technology

Recycling of medical waste is another emerging trend in the U.S., wherein techniques such as single-stream recycling and all-in-one mixed-waste processing have helped increase the rate of recycling and material recovery

New techniques and methods of waste disposal and management introduced in the U.S. are expected to gain regulatory approvals in the next few years. This is anticipated to drive the medical waste management market in the U.S. between 2022 and 2030.

Report Scope of the Medical Waste Management Market

Report Coverage

Details

Market Size

US$ 20.245 Billion by 2030

Growth Rate

CAGR of 8.7% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Nature of Waste, Waste Type, Waste Generator Type, Service Type and Region,

Companies Mentioned

 Stericycle, Republic Services, Inc., Veolia, US Ecology, Inc., BioMedical Waste Solutions, LLC, Clean Harbours, Inc., Waste Management, Inc., Sharps Compliance, Inc., Daniels Health, BWS Incorporated, and Alba Services GmbH & Co. KG..

Initiatives by Governments and Non-Government Organizations (NGOs) to Manage Medical Waste to Drive Market

Medical waste management is a critical issue worldwide. In order to ensure safety from hazardous medical waste, several government organizations such as the Food and Drug Administration (FDA), Environment Protection Agency (EPA), and Drug Enforcement Administration (DEA) are constantly working toward proper management of medical waste. Several non-government organizations (NGOs) and community-based organizations (CBOs) are stepping in to help hospitals and other health care facilities to collect, recycle, and dispose of medical waste.

For instance, Intervol, a New York-based NGO, is engaged in collecting unused medical supplies. It encourages health care facilities to recycle such unused supplies and reduce cost of their disposal.

Intervol also distributes wastes to local, national, or international organizations that need the medical waste stream for various purposes.

Shift Toward Off-site Waste Disposal Methods

On-site and off-site treatment methods have been in focus in the global medical waste management market in the last decade. Until 1997, on-site incineration, disposal, and treatment of medical waste were highly preferred, usually by large waste generators (> 63%), while off-site disposal techniques were mostly preferred by small- and medium-quantity waste generators (> 80%). However, launch of regulatory authorities such as the Environmental Protection Agency (EPA) in 1998 and enforcement of new policies and regulations regarding use of on-site incinerators, approvals for on-site disposal, and other policies have led to a gradual shift from on-site treatment methods to off-site treatment methods.

Moreover, new services such as route-based and mail-back services introduced by market players have led to a shift of waste management to off-site treatment methods.

Non-hazardous Waste Segment to Dominate Market

In terms of nature of waste, the global medical waste management market has been bifurcated into non-hazardous medical waste and hazardous medical waste. Medical waste is mostly generated through various disease treatments and diagnostics. Of the total waste generated from healthcare activities, around 85% is non-hazardous.

According to the WHO, in 2018, around 16 billion injections were administered globally and that need proper as well as effective processing for safe disposal. Hence, rise in the need of safe disposal of injections to avoid health crises augments the global medical waste management market.

Non-infectious Waste to be Highly Lucrative Segment

Based on waste type, the global medical waste management market has been classified into sharps, infectious & pathological waste, radioactive waste, pharmaceutical waste, and non-infectious waste. This can be attributed to increase in geriatric population and enforcement of regulations to manage medical waste substances.

Large Quantity Medical Waste Generators Segment to Lead Global Market

In terms of waste generator type, the global market has been split into large quantity medical waste generators and mid & small quantity medical waste generators. The large quantity medical waste generators segment has been segregated into hospitals and pharmaceutical & biotechnological companies. The hospitals segment is categorized into public hospitals and private hospitals.

The mid & small quantity medical waste generators segment has been divided into clinics & physician offices, retail pharmacies, ambulatory surgical centers & long term care centers, laboratories, academic & research institutes, blood banks, and others (veterinary, mortuary and autopsy centers, home healthcare, military & government, nursing homes, tattoo parlor). The laboratories segment has been bifurcated into pathological laboratories and diagnostic laboratories.

Preference for Off-site Services

Based on service type, the global medical waste management market has been split into on-site and off-site. Stringent regulations and increase in burden of medical waste generated per bed increase the outsourcing of the waste management process, which, in turn, boosts the growth of the off-site segment.

North America to Lead Global Market

In terms of region, the global medical waste management market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global medical waste management market in 2020, owing to stringent regulations on medical waste management, high awareness among the population about the safety and risk concerns related to the possible bio-hazards, and rise in per capita healthcare spending. Europe was the second largest market for medical waste management in 2020 due to presence of large number of pharmaceutical & biotechnology industries, rise in prevalence of lifestyle diseases such as diabetes, high blood pressure, and cancer among the population, and stringent regulations for the protection of environment.

Medical Waste Management Market: Key Developments

  • Key players in the global medical waste management market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global medical waste management market. A few expansion strategies adopted by players operating in the global medical waste management market are:
  • BioMedical Waste Solutions adopted Occupational Safety and Health Administration (OSHA) standards to dispose medical waste. OSHA has well-established procedure for dealing with medical waste hazards.
  • Stericycle follows CDC guidelines based on packaging of medical waste during COVID-19. These guidelines will help the company to simplify procedures for COVID 19 medical waste packaging.
  • The report on the global medical waste management market discusses individual strategies, followed by company profiles of manufacturers of medical waste management products. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global medical waste management market.

Some of the prominent players in the Medical Waste Management Market include:

  • Stericycle
  • Republic Services Inc.
  • Veolia
  • US Ecology Inc.
  • BioMedical Waste Solutions
  • LLC
  • Clean Harbours Inc.
  • Waste Management Inc.
  • Sharps Compliance Inc.
  • Daniels Health
  • BWS Incorporated
  • and Alba Services GmbH & Co. KG
  • among others

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Global Medical Waste Management Market: Segmentation

Medical Waste Management Market, by Nature of Waste

  • Non Hazardous Waste
  • Hazardous Waste

Medical Waste Management Market, by Waste Type

  • Sharps
  • Infectious & Pathological Waste
  • Radioactive Waste
  • Pharmaceutical Waste
  • Non-infectious Waste

Medical Waste Management Market, by Waste Generator Type

  • Large Quantity Waste Generators
    • Hospitals
      • Public
      • Private
    • Pharmaceutical & Biotechnology Companies
  • Mid & Small Quantity Waste Generators
    • Clinics & Physician Offices
    • Retail Pharmacy
    • Ambulatory Surgical Centers & Long Term Care Centers
    • Laboratories
      • Pathological Laboratories
      • Diagnostic Imaging Laboratories
    • Academic & Research Institutes
    • Blood Banks
    • Others (Veterinary, Mortuary and Autopsy Centers, Home Healthcare, Military & Government, Nursing Homes, Tattoo Parlor)

Medical Waste Management Market, by Service Type

  • On-site Services
  • Off-site Services

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Medical Waste Management Market Study:

  • Growth of Medical Waste Management in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Medical Waste Management and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Medical Waste Management Consumption Analysis
  •  Medical Waste Management Production Analysis
  •  Medical Waste Management and Management