According to the report “Medical Waste Management Market in terms of revenue was estimated to be worth $9.6 billion in 2022 and is poised to reach $12.6 billion by 2027, growing at a CAGR of 5.6% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Market growth is driven by the rising use of reusable surgical products and increased awareness programmes for medical waste management in developed countries.
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Browse in-depth TOC on “ Medical Waste Management Market”
176 – Tables
39 – Figures
198 – Pages
Key Market Players
The major players operating in this market are Stericycle (US), Veolia Environnement S.A. (France), Sharps Compliance, Inc. (US), Waste Management, Inc. (US), Clean Harbors, Inc. (US), REMONDIS SE & CO. KG. (Germany), BioMedical Waste Solutions LLC (US), Daniel Sharpsmart, Inc. (Australia), Republic Services, Inc. (US), EcoMed Services (US), GRP & Associates, Inc. (US), BWS, Inc. (US), MedPro Disposal (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental, Inc. (US), EPCO (Saudi Arabia), All Medical Waste Australia PTY. LTD. (Australia), Casella Waste Systems (US), Pro-Disposal (Georgia), SSO Medical Waste Management (US), SafeGuard Waste Solutions (US), MedWaste Industries, Inc. (US), Dulsco (Dubai).
Driver: increasing volume of healthcare waste
The market-driver for medical waste management, the healthcare sector, has experienced significant growth. Hospitals, laboratories, research facilities, morgues, autopsy facilities, blood banks, and collection activities have all grown as a result of an increase in the demand for healthcare services around the world, which has raised the issue of medical waste management.
Opportunity: increasing number of awareness programmes for medical waste management in developed countries
Initiatives like conferences and awareness campaigns to promote proper medical waste management and prevent medical waste mishandling are becoming more common in developed nations like the United States and the United Kingdom.
Restraint: High capital investment
Hospitals, healthcare facilities, and pharmaceutical firms must make a sizable capital investment in the collection and proper processing of waste in order to lessen environmental pollution. A significant investment in cutting-edge technology is needed for the disposal of both hazardous and non-hazardous medical waste.
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The collection, transport and storage services segment accounted for the largest share of the medical waste management market, by services segment.
Based on services, the medical waste management market is segmented into collection, transport and storage services, treatment & disposal services and recycling services. The collection, transport and storage services segment accounted for the largest share of the medical waste management market, mainly due to deteriorating health conditions like diabetes that increases the hospital stay.
Non-hazardous waste segment to register the highest growth rate during the forecast period
The medical waste management market is segmented into non-hazardous waste and hazardous waste based on type of waste. The non-hazardous waste segment accounted for the largest share of the medical waste management market. The large share of this segment can mainly be attributed to the increase in waste generation by healthcare facilities.
The offsite treatment accounted for the largest share of the medical waste management market, by treatment site segment.
Based on treatment site, the medical waste management market has been segmented into offsite treatment and onsite treatment. The offsite treatment segment accounted for the largest share of the medical waste management market, mainly due to the increase in cases of health conditions and increased accidental and burn injuries.
The hospital & diagnostic laboratories accounted for the largest share of the medical waste management market, by waste generator segment.
Based on waste generator, the medical waste management market has been segmented into hospital & diagnostic laboratories and other waste generators. The hospital & diagnostic laboratories segment accounted for the largest share of the medical waste management market, mainly due to the Increasing number of awareness programs for medical waste management in developed countries.
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North America is the largest regional market for medical waste management market
The global medical waste management market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for medical waste management market. The large share of North America in this market can be attributed to the rising focus on appropriate waste management and focus on providing healthcare facilities for health conditions like diabetes.
Recent Developments:
- In February 2022, Republic Services, Inc. (US) acquired US Ecology (US) to expand its footprint across the US and Canada.
- In December 2021, Veolia Environnement S.A. (France) launched the Vigie Covid-19 solution, which can track signs of the Omicron variant in wastewater, acting as an early warning system for monitoring the progression of the pandemic.
- In October 2020, Waste Management, Inc. (US) acquired Advanced Disposal (US). This acquisition expanded Waste Management’s footprint and provided access to sustainable waste management and recycling services to customers in the US.
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