Medical Waste Management Market by Service (Collection, Transportation, and Storage Services, Treatment & Disposal Services, and Recycling Services), Type of Waste (Non-hazardous Waste and Hazardous Waste), and Treatment Site (Offsite Treatment, and Onsite Treatment): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global medical waste management market size accounted for USD 9.8 billion in 2022 and is estimated to achieve a market size of USD 17.39 billion by 2032 growing at a CAGR of 5.9% from 2023 to 2032.

Key Pointers:

• Depending on service, the treatment & disposal services segment dominated the market in 2022
• The basis of type of waste, the non-hazardous waste segment dominated the market in 2022
• The basis of treatment site, the offsite treatment segment dominated the market in 2022
• North America accounted for a major share in the medical waste management market in 2022
• Asia-Pacific is expected to register highest CAGR of 7.2% from 2023 to 2032

Medical waste management Market Report Scope

The medical waste management is defined as the management of biomedical waste by various services such as incineration, chemical treatment and autoclaving. Medical waste is the by-product generated from the hospitals, laboratories, and research industry and surgery centers. This growth of this market is due to increase in volume of medical waste, stringent regulatory framework in order to manage the medical waste safely and in eco-friendly way, and development of healthcare infrastructure. In addition, increasing numbers of awareness program regarding medical waste management, propels the growth of the market

Medical waste is defined as the byproduct of medical, surgical, and treatment procedures, which are performed at healthcare facilities. Waste generated from hospitals, diagnostic centers, and clinic requires proper handling and management. Medical waste management ensures proper collection, storage, treatment, and disposal of biomedical waste to ensure safety of general population, animal, and environment.

Growth of the global medical waste management market is majorly driven by a growth in volume of medical waste; rise in geriatric population; rise in prevalence of chronic disease; and increase in technology for effective treatment of medical waste. According to the Central Pollution Control Board (CPCB), it was reported that India generated approximately 45,308 tons of biomedical waste between June 2020 and May 2021, owing to increase in use of various diagnostic activities and treatment of COVID-19 patients. According to the Longitudinal Ageing Study in India (LASI), in 2020, it was reported that two in every three geriatric person was diagnosed with a chronic disease. In addition, initiatives taken by governments for effective management of medical waste fuels the market growth. For instance, in 2019, the United States Environmental Protection Agency signed a rule titled “management standards for hazardous waste pharmaceuticals and amendment to the P075 listing for nicotine,” which states streamlined standards for handling hazardous pharmaceuticals waste. Moreover, rise in funding for research activities and high utilization of biomedical products and technology propel growth of the market.

However, high cost of services and transportation provided by emerging key players is expected to restrict the medical waste management market growth during the forecast period.

North America accounted for a major share in the medical waste management market in 2022, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of chronic diseases, presence of key players, increase in environmental awareness regarding waste management, and increase in volume of medical waste in the region. However, Asia-Pacific is expected to register highest CAGR of 7.2% from 2023 to 2032, owing to increase in prevalence of chronic diseases, rise in geriatric population, increase in demand for healthcare products and services, and rise in number of hospitals and clinics.

Some of the prominent players in the Medical waste management Market include:

• Biomedical Waste Solutions
• LLC
• Clean Harbors Inc.
• Daniels Health Inc.
• EcoMed Services
• Remondis Medison (A Subsidiary of Remondis Ag & Co.Kg)
• Republic Services Inc. 
• Stericycle Inc.
• Suez Environmental Services
• Veolia Environmental services 
• and Waste Management Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global medical waste management market.

By Service

• Collection, Transportation, and Storage Services
• Treatment & Disposal Service
  • Incineration
  • Autoclaving
  • Chemical Treatment
  • Others
• Recycling Services

By Type of Waste

• Non-Hazardous Waste
• Hazardous Waste
  • Infectious & Pathological Waste
  • Pharmaceutical Waste
  • Sharp Waste
  • Others

By Treatment Site

• Offsite Treatment
• Onsite Treatment

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)