The medical waste management market is expected to grow due to the increasing prevalence of infectious diseases, rising demand for healthcare services, and the surge in medical and hospital waste. Government regulations and initiatives to promote the safe disposal and management of medical waste are also contributing to market growth. Additionally, technological advancements in waste management systems and the use of medical waste incinerators are expected to drive the market during the forecast period.
Medical waste is generated during the diagnosis, treatment, and immunization of patients, and in the research and production of pharmaceuticals. This waste is hazardous and can cause harm to both humans and the environment if not disposed of properly. Medical waste management involves the safe disposal and treatment of medical waste, and the implementation of effective and efficient regulatory systems to ensure that this waste is properly managed and monitored.
Medical Waste Management Market is projected to grow from USD 9.6 billion in 2022 to USD 12.6 billion by 2027, at a CAGR of 5.6% from 2022 to 2027, according to a new report by MarketsandMarkets™.
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The medical waste management market is segmented based on type, service, and region. By type, the market is divided into infectious waste, sharps waste, pharmaceutical waste, and others. Based on service, it is classified into collection, transportation, treatment, and disposal. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The collection, transport and storage services segment accounted for the largest share of the market, by services segment, in 2021
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 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. In 2021, the non-hazardous waste segment accounted for the largest share of the 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, in 2021
Based on treatment site, the market has been segmented into offsite treatment and onsite treatment. In 2021, the offsite treatment segment accounted for the largest share of the 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 market, by waste generator segment, in 2021
Based on waste generator, the medical waste management market has been segmented into hospital & diagnostic laboratories and other waste generators. In 2021, the hospital & diagnostic laboratories segment accounted for the largest share of the 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 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 market in 20201. 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 medical waste management 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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