Global Medical Waste Management Market Insights Forecasts to 2030

• The Medical Waste Management Market was valued at USD 26.7 Billion in 2021.
• The Market is Growing at a CAGR of 6.1% from 2022 to 2030
• The Global Medical Waste Management Market is expected to reach USD 34.2 Billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The global Medical Waste Management Market is expected to reach USD 34.2 billion by 2030, at a CAGR of 6.1% during the forecast period 2022 to 2030.

The medical waste management is basically the management of biomedical waste by different services like chemical treatment, incineration, and autoclaving. Medical waste is the by product produced from the laboratories, hospitals, surgery centers and research industry. The medical waste management ensures storage, proper collection, treatment, and disposal of biomedical waste for ensuring the safety of animals, general people, and environment.

Impact of COVID 19 on Global Medical Waste Management

Due to increase in the number of COVID 19 infected people, the healthcare facilities have generated medical wastes. However, the management needs to take special care when it comes to the disposal of COVID 19 related waste because it is anticipated to spread the infection. With the growth in the generation of medical waste amid the pandemic. For instance, in 2020, the Central Pollution Control Board (CPCB) India presented guidelines for the management, treatment, and disposal of waste generated during the diagnosis, treatment, and confinement of COVID 19 patients which will led to positive impact on the overall market growth. Furthermore, in August 2021,  the Chinese government as well as the United Nations Development Program (UNDP) launched a new initiative in Nepal to help seven hospitals un the South Asia nation in improving their medical waste management systems to handle the waste generated during the pandemic.

Key Driving Factors

Research and development activities is propelling the market growth

The rise in the research and development in this market has led to the advanced diagnostic, treatment, and surgical solutions. Furthermore, the increase number of diseases like cancer and other chronic ailments and increasing number of geriatric population and road accidents have resulted in the market growth. Thus, the commercial availability of advanced medical solutions along with expansion of patient pool is causing huge amount of waste and byproducts.

Innovative manufacturing techniques for medical devices and medicines are driving the market

The development of innovative manufacturing techniques for medical devices and drugs in the pharmaceutical market is growing exponentially. Moreover, the growth of the market is also reflected by the efficient supply of inventories needed in the day to day functioning of clinics, hospitals, and diagnostics centers. More waste is produced as a result. For the collection, transportation, disposal, and recycling of particular materials or by-products as needed, these by-products and residues require a suitable system or service.

Key Challenging Factors

The shift in the market from the large market player to small market player is expected to hamper the market growth. The developing nations have started making huge investment for the use of sophisticated equipment to reduce pollution and other impacts on the environment but the countries lack stringent and clear guidelines and rules for the medical waste management of medical waste which is restraining the market growth.

Market Segmentation

Service Insights

The treatment and disposal services is dominating the market with the largest market share

On the basis of service, the global medical waste management market is segmented into collection, transportation and storage services, treatment and disposal, and recycling services. Among these, the treatment and disposal services is dominating the market with the largest market share. The growth is attributed due to the increasing demand for incineration, increasing cases of chronic disease, and technological advancements for the treatment of medical waste.

Type Insights

The non hazardous waste segment is dominating the market with the highest market share

Based on the type of waste, the global medical waste management market is segmented into non hazardous waste and hazardous waste. Among these, the non hazardous waste segment is dominating the market. The main reason behind the growth is the surging number of clinics and hospitals and increasing demand for healthcare products for the treatment of diseases. But the hazardous waste segment is anticipated to witness the fastest market growth due to the increasing cases of chronic and infectious diseases, surging development of pharmaceutical and biotechnology companies, and research and development activities in the healthcare segment.

Treatment Insights

The off site treatment is leading the market with the highest CAGR over the forecast period

On the basis of treatment, the global medical waste management market is segmented into offsite treatment and onsite treatment. Among these, the offsite treatment is leading the market with the highest CAGR over the forecast period owing to the increasing cases of chronic diseases, advancements in research and development activities in the healthcare sectors, and the adoption of innovative technologies in waste management.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share and is expected to continue its dominance over the forecast period due to the increasing prevalence of chronic diseases, strong presence of the key market players, increasing environmental awareness related to the waste management and increasing volume of medical waste in the North American region.

Asia Pacific, on the other hand is witnessing the fastest market growth due to the increasing cases of chronic diseases, rising geriatric population, increasing demand for healthcare products, and rising number of clinics and hospitals.

Recent Developments

• In May 2021, Stericycle and UPS Healthcare has collaborated for managing the reverse logistics of medical waste.

List of Key Companies

• 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
• Waste Management, Inc.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Medical Waste Management Market based on the below-mentioned segments:

Medical Waste Management Market, Service Analysis

• Collection
• Transportation and storage services
• Treatment and disposal
• Recycling services

Medical Waste Management Market, Type Analysis

• Hazardous
• Non-Hazardous

Medical Waste Management Market, Treatment Analysis

• Offsite
• Onsite

Medical Waste Management Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa