Medical waste management market survey data and crucial factors are mentioned below:
- Exponentially increasing volume of medical waste
- Rising geriatric population
- Increasing prevalence of chronic disorders such as cardiovascular diseases and diabetes
- Growing obese population
- Increasing requirement for sustainable and effective medical waste management
- Increasing focus of governments all over the world to tackle the issue of medical waste management
- Increasing number of accidents
- Integration of latest technologies
- Growing investment by key manufacturers
- Increasing per capita healthcare expenditure
The medical waste management global market size is predicted to reach around USD 11.9 billion by 2030 from USD 7.7 billion in 2022 with a remarkable CAGR of 5.8% between 2022 and 2030.
Medical Waste Management Market Key Insights:
- Non-hazardous waste segment accounted for USD 7.5 billion in 2021.
- The treatment and disposable services segment captured 29% market share in 2021.
- The hospitals waste generation segment contributed 32% market share in 2021.
- North America medical waste management market is expected to grow at a CAGR of 6.3% from 2022 to 2030.
Medical waste management is managing biomedical waste through various services such as incineration, chemical treatment, and autoclaving. Medical waste is the byproduct created by medical institutions, hospitals, laboratories, research institutions, and surgery centres.
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Medical waste management ensures careful waste collection, storage, treatment, and disposal to ensure the safety of the population, animals, and environs. It is defined as the byproduct of healthcare, surgical, and treatment processes, which are done at medical facilities. Medical waste from hospitals, research institutions, diagnostic centres, and clinic needs proper handling and management.
Medical waste management stores and manages various types of medical waste generated through medical or diagnostic activities. Medicine waste is produced from biological and medical sources and activities, such as diagnosing, preventing, or treating diseases. Hospital waste is any reasonably waste consisting of infectious or doubtless infectious materials.
Waste management is crucial to healthcare organizations, hospitals, clinics, laboratories, or diagnostic centres that can be hazardous or non-hazardous and pathogenic or non-pathogenic medical wastes. Furthermore, the growing volume of medical waste produced worldwide and increasing awareness of practical and environmental-friendly waste management are anticipated to drive market growth over the coming years.
A global medical emergency came with the coronavirus (COVID-19) pandemic. The unexpected coming of such a deadly pandemic has resulted in massive medical waste. For example, since the pandemic, the volume of medical waste produced by COVID-19 has been expected to be 2.6 million tons worldwide. Moreover, as the demand for Covid vaccination increased, more medical waste, mainly syringes, needles, and safety boxes, was produced. Because of this, in such scenarios, efficient waste management procedures are needed. These factors are assisting in the market’s expansion.
Medical Waste Management Market Growth Factors
The growth of the overall medical and healthcare sector is influencing the demand for these systems. Continuous industry research and development activities result in sophisticated diagnostic, surgical, and treatment solutions. Furthermore, the increasing prevalence of diseases such as cancer & other chronic illness and expanding geriatric population & road accidents result in the growing demand for these advanced medical solutions. Thus, the commercial availability of the latest medical solutions and the expanding patient pool leads to significant waste and byproducts.
The development of innovative manufacturing procedures for drugs and medical devices in the pharmaceutical sector is increasing rapidly. Moreover, the market’s growth is also seen by the efficient supply of inventories needed for the daily functioning of hospitals, clinics, and diagnostic centres. This leads to the generation of more waste. These byproducts and residues need a sound system or service to collect, dispose of, and recycle specific materials or byproducts if needed.
Some treatment, disposal, and recycling methods release harmful gases and compounds like mercury and oxides. These hazardous compounds can lead to land, air, & water pollution, thus spreading infectious agents, which may cause cancer. Thus, the points such as the development and widespread adoption of modern techniques in the treatment, disposal, and recycling of these materials are catalyzing the growth. Besides, favourable government steps in funding medical waste management programs in developing markets are anticipated to trigger change.
Developing countries invest a lot of capital in adopting modern technologies to help reduce pollution and other hazardous effects on the ecosystem during the treatment & disposal of medical waste. However, these countries lack clear and strict guidelines and regulations for managing medical waste, thereby hampering market growth. However, a considerable shift in the market from larger to smaller-size local players is expected to inhibit the growth.
Medical Waste Management Market Report Scope
| Report Highlights | Details |
| Market Size | US$ 11.92 Billion by 2030 |
| Growth Rate | CAGR of 5.8% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017-2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Treatment Type, Waste Type |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Medical Waste Management Market Report Highlights
- By type of waste, the medical waste management market is segmented into Non-hazardous Waste and Hazardous Waste. The hazardous Waste segment led the market and achieved a significant revenue share in the medical waste management market. Any waste that can have a non-infectious effect on humans is hazardous. This can include medical and industrial chemicals, outdated medications, and sharps. In addition, several companies are making solid efforts to dispose of medical waste from healthcare firms.
- By Component, the medical waste management market is divided into Collection, transport, and storage services; Treatment & disposal services; and Recycling services. Medical waste treatment, collection, transport, storage, disposal services, and recycling services are the segments for medical waste management. The collection, transportation and storage services segment led the market and procured the highest revenue share. Furthermore, there is widespread adoption of advanced technologies in the medical industry, propelling the piece’s growth over the forecast period.
- By treatment site, the medical waste management market is segmented into Offsite Treatment and Onsite Treatment. The onsite Treatment segment was leading the market. It is due to the increase in medical waste volume and the emergence of vital factors for proper and efficient handling of medical waste. Besides, there is a rise in the efforts by companies functioning in the medical industry to dispose of all the medical waste produced across the company.
- Based on waste generators, the medical waste management market is divided into Hospital and diagnostic laboratories and other waste generator. The Hospital and diagnostic laboratories segment led the market and garnered the highest revenue share. It is because there are high awareness-raising initiatives for managing medical waste in developed nations. Hospitals typically create a variety of garbage, including medical, office, and domestic waste.
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Regional Snapshots
The North American medical waste management market is leading in the world. Its revenue is poised to grow during the forthcoming years. Escalating regional growth is due to increasing government initiatives for medical waste disposal. For instance, The Medical Waste Management Program of the California Department of Public Health handles medical waste’s production, handling, storage, treatment, and disposal.
This program also inspects and allows medical waste to offsite treatment facilities and medical waste transfer stations. Furthermore, major industry players are strongly focusing on handling medical waste in an effective and environmental-friendly way that should propel the industry growth in forthcoming years.
However, Asia-Pacific is anticipated to register the highest CAGR from 2021 to 2030 due to a rise in the prevalence of chronic diseases, expanding senior population, a surge in demand for healthcare products and services, and an increase in the number of hospitals and clinics.
Medical Waste Management Market Dynamics
Market Driver: The rising volume of medical waste globally
Medical waste is usually produced at hospitals, dental clinics, blood banks, medical research facilities and laboratories. For instance, the World Health Organization states that 85% of medical waste produced in the healthcare sector is general and non-hazardous. The remaining 15% of medical waste is waste which can be infectious, radioactive, or chemical that may be dangerous to the environment.
Likewise, as per the Center for Science and Environment (CSE), medical waste in India rose from 559 tonnes in 2017 to 619 tonnes daily in 2019. Furthermore, the number of hazardous waste-producing units in India increased by 3.5%, leading to a reduction of almost 7% in dangerous waste production. Therefore, these attributes will propel the demand for medical waste management, proving positive for the overall market progression.
Medical waste management assists in separating, storing, and safely disposing of medical waste harmful to people’s health. According to the World Health Organization (WHO), 16 billion injections are administered annually globally. However, not all the syringes and needles are disposed of. Thus, with enhanced medical waste management, all biomedical waste is separated and disposed of accordingly. Thus, the increasing medical waste from laboratories and research centres, hospitals, blood banks and collection services, testing laboratories and nursing homes for the senior population will fuel the medical waste management market share during the forecast period.
Also Read: Healthcare Facilities Management 2022-2030: Market Size, Players, and Forecasts
Market Restraint: Requirement of High Investment by Medical Companies
Disposing hazardous and non-hazardous medical waste invites advanced technology and a substantial financial commitment. Hospitals, healthcare organizations, and pharmaceutical companies must make a good capital investment in waste collection and proper management to decrease the environmental pollution. An incinerator facility must be launched, which is a costly operation. The costs associated with constructing the infrastructure and running the incineration facilities are significantly substantial.
Market Opportunity: Efficient inventory supply in Hospital
The growth of the global market is also catalyzed by efficient inventory supply in the daily functioning of diagnostic centres, clinics, and hospitals. This leads to more waste production. Eventually, this propels the market growth. The byproducts and medical waste materials produced by medical facilities need a proper system to collect, dispose of, transport, and recycle. Some medical waste management treatments release harmful compounds and gases like oxides and mercury, which may cause air, water, and land pollution.
Also, the spread of infectious agents may lead to infections and diseases. This necessitates adopting and developing modern techniques to manage these residues and byproducts. Furthermore, several supportive initiatives taken by various government and non-profit organizations and promoting heavy investments in medical waste management programs are anticipated to boost market growth in forthcoming years.
Market Challenge: Low awareness about the medical waste management
Low awareness among emerging countries is limiting the growth of the medical waste management market. Inadequate knowledge of medical professionals and sanitation health workers on biomedical waste regulations and medical waste management protocols is leading to improper segregation of waste, which is causing increased hazardous waste, needle prick injuries and infections like hepatitis which is growing the load on the medical waste management companies.
Infectious waste (or hazardous medical waste) forms around 15 to 25% of total medical waste. According to the World Health Organization, in low-income economies, healthcare waste is not segregated into hazardous and non-hazardous waste, leading to an increase in the actual quantity of hazardous waste.
Therefore, such a lack of awareness in emerging countries is hindering the growth of the medical waste management market.
Key Developments in the Marketplace:
- In Feb 2020, Stericycle announced to sell off its Domestic Environments Solutions business to Harsco Corporation for 462.5 million dollars. This plan has helped the company to enhance its profit margin percentages and drive long-term value to its shareholders.
- In August 2021, Clean Harbors captured HydroChemPSC, Littlejohn & Co., LLC subsidiary, for USD 1.25 billion. This strategy helped the firm boost its opportunities with substantial brand equity and customer service reputation, improving its revenue generation.
- In April 2022, Stericycle launched its new SafeShield antimicrobial medical waste containers. It is a line of high-quality, standardized containers mainly made for storing and transporting regulated medical waste (RMW).
Medical Waste Management Market Key Players:
- BioMedical Waste Solutions
- Stericycle Inc.
- Clean Harbors
- Citiwaste
- MedPro Waste Disposal
- Sanpro
- Waste Management, Inc.
- Sharps Compliance, Inc.
Market Segmentation
By Treatment
- Chemical Treatment
- Autoclaving
- Incineration
- Others
By Waste Type
- Hazardous
- Nonhazardous
- Infectious & Pathological Waste
- Pharmaceutical Waste
- Sharp Waste
- Other Medical Waste
By Waste Generator
- Hospitals & Diagnostic Laboratories
- Other Waste Generators
By Treatment Site
- Offsite Treatment
- Onsite Treatment
Regional Segmentation
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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