According to the report “Medical Waste Management Market Size, Growth 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 2027″ is projected to reach USD 12.6 billion by 2027, at a CAGR of 5.6%.
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Growing preference disease and health conditions that affects other health healing capabilities, increasing prevalence of obesity and disease associated to it are among the other factors. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the medical waste management market.
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.
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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.
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.
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).
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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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