Medical Waste Management Market to Reach $17.02 Billion by 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., Feb. 9, 2023 /PRNewswire/ -- According to a new market research report titled, 'Medical Waste Management Market by Waste Type (Non-Hazardous, Infectious, Sharps, Pharmaceutical), Service (Collection, Treatment & Disposal [Incineration, Autoclaving], Recycling), Treatment Site (Off-site, On-site), Source - Global Forecast to 2030,' published by Meticulous Research^®, the global medical waste management market is expected to reach $17.02 billion by 2030 at a CAGR of 5.4% during the forecast period 2023-2030.

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Medical waste results from surgeries, procedures, and treatments carried out at healthcare facilities. Hospitals, clinics, and diagnostic facilities generate waste that needs to be handled and managed correctly. To protect the general population, the environment, and animals, medical waste management ensures the right methodology for collecting, storing, treating, and disposing of biological waste.

The global medical waste management market is by waste type (non-hazardous waste, hazardous waste [infectious & pathological waste, pharmaceutical waste, sharps waste, and other hazardous waste]), services (collection, transportation, & storage, treatment & disposal services [incineration, autoclaving, chemical treatment, and other treatment & disposal services], and recycling), treatment site (off-site treatment, on-site treatment) source (hospitals & clinics, diagnostic laboratories, research laboratories, blood banks, and other sources) and geography. The study also includes an analysis of the regional and country-level markets.

Based on waste type, in 2023, the non-hazardous segment is expected to account for the largest share of the global medical waste management market. The larger market share of this segment is attributed to the high demand for healthcare services coupled with the increase in the generation of COVID-19-related waste. Paper, clear glass, clean plastic, and cardboard are non-hazardous medical waste. The growth of hospitals and healthcare systems globally has also contributed to the increase in the generation of biomedical waste. According to data from the World Health Organization (WHO), till February 2022, nearly 8 billion doses of the COVID-19 vaccine were administered, generating 144,000 tons of additional waste, including safety boxes.

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Based on services, the collection, transportation, and storage segment is expected to account for the largest share of the global medical waste management market in 2023. Globally, the penetration of healthcare services has increased, increasing medical waste generation. Regulators across the countries globally have declared the guidelines for the safe collection, transportation, and storage of medical waste to protect the ecosystem. Thus, the high penetration of healthcare services coupled with the presence of guidelines for the suitable collection, transportation, and storage of medical waste across the countries are supporting the largest share of the market.

Based on treatment site, in 2023, the off-site treatment segment is expected to account for the largest share of the global medical waste management market. The large market share of this segment is attributed to the high use of highly improved single-use surgical products in healthcare facilities and the high prevalence of chronic diseases such as diabetes and cancer. According to GLOBOCAN data, 19.3 million cancer cases were detected in 2020 globally. It is expected to increase up to 24.6 million by 2030. High cases of chronic diseases increase the demand for medical services, generating a high volume of medical waste for offsite treatment.

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Based on source, in 2023, the hospitals & clinics segment is expected to account for the largest share of the global medical waste management market. Globally, hospitals & clinics are the primary sources of healthcare services. Hospitals perform several medical procedures that generate non-hazardous and hazardous wastes. The high volume of medical waste generated through hospitals, including needles, bottles, chemicals, syringes and others, contributes to the largest share of the market.

Based on geography, the medical waste management market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with a further analysis of major countries in these regions. In 2023, North America is expected to account for the largest share of the global medical waste management market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The key factors contributing to the large market share of this segment are the high penetration of healthcare services generating higher medical waste and the presence of state or federal-level regulations for medical waste management.

Some of the key players operating in the medical waste management market are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), and GIC Medical Disposal, Inc. (Canada).

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Scope of the Report:

Medical Waste Management Market, by Waste Type

• Non-hazardous Waste
• Hazardous Waste
• Infectious & Pathological Waste
• Pharmaceutical Waste
• Sharps Waste
• Other Hazardous Waste

(Note: Other hazardous waste includes chemical and radioactive waste)

Medical Waste Management Market, by Service

• Collection, Transportation, and Storage
• Treatment & Disposal Services
• Incineration
• Autoclaving
• Chemical Treatment
• Other Treatments & Disposal Services
• Recycling

(Note: Other treatment and disposal services include electro-pyrolysis, irradiation, and vitrification)

Medical Waste Management Market, by Treatment Site

• Off-site treatment
• On-site Treatment

Medical Waste Management Market, by Source

• Hospitals & Clinics
• Diagnostic Laboratories
• Research Laboratories
• Blood Banks
• Other Sources

(Note: Other sources include mortuary & autopsy centers, long-term care facilities, nursing homes, veterinary practices, dialysis centers, and radiation centers)

Medical Waste Management Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• Japan
• China
• India
• Rest of APAC (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa

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