Global Medical Waste Management Market, By Type of Waste (Hazardous Waste, Non-Hazardous Waste), Service Type (Collection, Transportation and Storage, Treatment and Disposal, Recycling, Others), Treatment Type (Incineration, Autoclaving, Chemical Treatment, Irradiative, Biological, Others), Treatment Site (Offsite, Onsite), Category (Controlled, Uncontrolled), Source of Generation (Hospitals, Physician Offices, Clinical Laboratories, Manufacturers, Reverse Distributors) – Industry Trends and Forecast to 2030.
Medical Waste Management Market Analysis and Size
India created roughly 45,308 tonnes of biomedical waste between June 2020 and May 2021, according to the Central Pollution Control Board (CPCB), due to an increase in the usage of various diagnostic procedures and the treatment of COVID-19 patients. Growing awareness about effective medical waste management is a step ahead in reducing the hospital waste burden on the land. Many initiatives have been undertaken in the recent past to address the seriousness of the issue.
Data Bridge Market Research analyses that the medical waste management market, which was USD 9.06 billion in 2022, is expected to reach USD 14.49 billion by 2030, at a CAGR of 6.05% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Waste Management Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type of Waste (Hazardous Waste, Non-Hazardous Waste), Service Type (Collection, Transportation and Storage, Treatment and Disposal, Recycling, Others), Treatment Type (Incineration, Autoclaving, Chemical Treatment, Irradiative, Biological, Others), Treatment Site (Offsite, Onsite), Category (Controlled, Uncontrolled), Source of Generation (Hospitals, Physician Offices, Clinical Laboratories, Manufacturers, Reverse Distributors)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Stericycle Inc. (U.S.), Veolia Environnement SA (France), SUEZ (France), CLEAN HARBORS, INC. (U.S.), WM Intellectual Property Holdings, L.L.C (U.S.), Republic Services, Inc. (U.S.), REMONDIS SE & Co. KG (Germany), BioMedical Waste Solutions, LLC. (U.S.), Ecomed Services (Canada), Triumvirate Environmental (U.S.), BWS Incorporated (U.S.), MEDPRO Disposal, LLC (U.S.), Gamma Waste Services (U.S.), Daniels Sharpsmart, Inc. (U.S.), Casella Waste Systems, Inc. (U.S.)
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Market Opportunities
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Market Definition
The handling of biomedical waste using various services, including autoclaving, chemical treatment, and burning, is referred to as medical waste management. Medical waste is the byproduct of hospitals, laboratories, the research sector, and surgery centres. Medical waste management ensures correct collection, storage, treatment, and disposal of biological waste to maintain the safety of the general populace, animals, and environment.
Medical Waste Management Market Dynamics
Drivers
- Growing support by the government will drive the market growth
Increased initiatives by the governments towards effective management of medical waste is fostering the growth of the market on a global scale. For instance, the United States Environmental Protection Agency signed a regulation in 2019 titled "Management Standards for Hazardous Waste Pharmaceuticals and Amendment to the P075 Listing for Nicotine," which specifies streamlined guidelines for managing waste from hazardous pharmaceuticals. Additionally, increased funding for research initiatives and extensive use of biomedical goods and technology drive market expansion.
- Growing patient population is a direct market growth determinant
The number of patients is rising due to population growth around the world, which is increasing the amount of medical waste produced. Governments all around the world are therefore implementing new measures to address the problem as a result of the rise in medical waste. To offer official and obligatory guidelines for managing medical waste, the Ministry of Environment and Forests (MoEF) in India introduced the Medical Waste Management and Handling Rules, 1998, and the Bio-Medical Waste (Management and Handling) (Amendment) Rules, 2003. The Central Pollution Control Board has also published Central Medical Waste Treatment Plans (CBWTF) guidelines.
Opportunities
- Pandemic acted as a market opportunity
The ongoing COVID-19 pandemic has fueled the importance of effective medical waste management. The amount of medical waste produced by healthcare facilities has significantly increased as a result of the rise in populations with coronavirus infections. Medical waste linked to COVID-19 should be disposed of with extra caution because improper incineration could spread the virus. Numerous authorities around the world have developed waste disposal strategies in response to the increase in medical waste generation during the outbreak.
- Growth offered by the emerging economies
The medical waste management business has benefited enormously from the developed economies of the U.S. and Europe. These markets have a superior overall penetration rate. As a result, industry participants in medical waste management are increasingly focusing on underserved regions in developing nations. Due to their expanding healthcare infrastructures, ageing populations with chronic and infectious diseases, and initiatives to improve medical waste management, emerging nations in Asia and Latin America like India, China, Brazil, and Singapore present enormous growth opportunities.
Restraints/Challenges
- Lack of awaerenss regarding harzards
Lack of awareness regarding health hazards associated with untreated disposed medical waste in underdeveloped economies will restrain the growth of the market. Harmful gases such as ethylene oxide, various toxic fumes, anesthesia gases, and medical wastes can directly impact an individual's respiratory and cardiovascular organs. One might develop severe medical condition on being excessively exposed to them.
- Dearth of effective medical waste management facilities
Poor infrastructure in developing and developed economies results in hampering the process of effective medical waste management. High costs of such services, including high transportation costs, directly and negatively impact the market's overall growth. Further, the lack of standards and protocols associated with medical waste disposal hinders the market growth rate.
This medical waste management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical waste management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2022, the government of Japan and the United Nations Development Programme (UNDP) launched a new project in August to assist national health agencies and other key stakeholders in Bangladesh, Bhutan, and the Maldives in dealing with the unprecedented rise in infectious healthcare waste caused by the COVID-19 pandemic.
- In 2022, a new company called MediWaste was established in March to treat Bermuda's biohazardous waste. MediWaste is in charge of transporting, treating, and disposing medical waste using two specially designed incinerators.
Global Medical Waste Management Market Scope
The medical waste management market is segmented on the basis of type of waste, service type, treatment type, treatment site, category, and source of generation. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type of Waste
- Hazardous Waste
- Infectious and Pathological Waste
- Pharmaceutical Waste
- Sharps
- Others
- Non-Hazardous Waste
Service Type
- Collection, Transportation and Storage
- Treatment and Disposal
- Recycling
- Others
Treatment Type
- Incineration
- Autoclaving
- Chemical Treatment
- Irradiative
- Biological
- Others
Treatment Site
- Offsite
- Collection
- Transportation and Storage
- Treatment and Disposal
- Recycling
- Onsite
- Collection
- Treatment and Disposal
- Recycling and Others
Category
- Controlled
- Uncontrolled
Source of Generation
- Hospitals
- Physician Offices
- Clinical Laboratories
- Manufacturers
- Reverse Distributors
Medical Waste Management Market Regional Analysis/Insights
The medical waste management market is analysed and market size insights and trends are provided by country, type of waste, service type, treatment type, treatment site, category, and source of generation as referenced above.
The countries covered in the medical waste management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
In addition to the rising prevalence of chronic diseases, the presence of key players, the growing environmental awareness surrounding waste management, and the increasing volume of medical waste in the region, North America accounted for a significant portion of the medical waste management market and is anticipated to maintain its dominance during the forecast period.
However, due to an increase in the prevalence of chronic diseases, an increase in the population of geriatrics, an increase in the demand for healthcare products and services, and an increase in the number of hospitals and clinics, Asia-Pacific is predicted to have the highest CAGR.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The medical waste management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical waste management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical waste management market. The data is available for historic period 2011-2021.
Competitive Landscape and Medical Waste Management Market Share Analysis
The medical waste management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical waste management market.
Some of the major players operating in the medical waste management market are:
- Stericycle Inc (U.S.)
- Veolia Environnement SA (France)
- SUEZ (France)
- CLEAN HARBORS, INC. (U.S.)
- WM Intellectual Property Holdings, L.L.C (U.S.)
- Republic Services, Inc. (U.S.)
- REMONDIS SE & Co. KG (Germany)
- BioMedical Waste Solutions, LLC. (U.S.)
- Ecomed Services (Canada)
- Triumvirate Environmental (U.S.)
- BWS Incorporated (U.S.)
- MEDPRO Disposal, LLC (U.S.)
- Gamma Waste Services (U.S.)
- Daniels Sharpsmart, Inc. (U.S.)
- Casella Waste Systems, Inc. (U.S.)
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