The global medical waste management market size was valued at USD 7,898.6 million in 2022 and is projected to reach USD 13,200 million by 2032, registering a CAGR of 5.87% from 2023 to 2032. 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.
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Medical Waste Management Market Segmentation
The medical waste management market is segmented on the basis of service, type of waste, treatment site, and region. By service, the market is categorized into collection, transportation, and storage services, treatment & disposal services, and recycling services. The treatment & disposal services segment is further classified into incineration, autoclaving, chemical treatment and others. The type of waste segment is classified into non-hazardous waste, and hazardous waste. The hazardous waste segment is further divided into infectious & pathological waste, pharmaceutical waste, sharp waste, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment review
Depending on service, the treatment & disposal services segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in demand for incineration, rise in prevalence of chronic disease, and advancements in technology for medical waste treatment. However, the collection, transportation, and storage services segment is expected to witness considerable medical waste management market growth during the forecast period, owing to increase in volume of medical waste, development of hospitals and research laboratories, and rise in regulation for collection, transportation, and storage of medical waste.
Key players operating in the global 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.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the medical waste management market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing medical waste management market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the 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
- LAMEA
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