Medical Waste Management Market: Industry Trends and Global Forecasts, till 2035 - Distribution by Type of Service Offered, Type of Waste, Treatment Site, Treatment Method, Category of Waste and Key Geographical Regions

Medical Waste Management Market Boasts Over 95 Firms Offering Comprehensive Services, with 65% Based in North America and 95% Handling Hazardous Waste

The global medical waste management market is estimated to be worth $5 billion in 2024 and is likely to be $19.4 billion by 2035, representing a CAGR of 13% during the forecast period 2024-2035.

The research study consists of industry trends, key market insights, market impact analysis, and medical waste management market forecast and opportunity analysis. The growth in the opportunity for service providers over the next decade is likely to be the result of the anticipated rise in the demand for medical waste management.

Waste generated by healthcare activities like clinical research, diagnosis, drug development is referred to as medical waste. Notably, medical waste ranging from used / unused syringes, expired medicines, diagnostic samples, blood, cottons, bandages, medical devices and even traces of chemotherapy waste is broadly categorized into infectious, hazardous, radioactive and non-hazardous waste. According to the World Health Organization (WHO), around 15 to 20% of the total amount of medical waste generated is considered hazardous, infectious or radioactive. It is worth mentioning that with the surge in global population, evolution of medical science and technology, emergence of novel infectious diseases, and rise in the number of hospitals and healthcare facilities, more than 6 million tonnes of healthcare waste is generated in the US alone. In fact, the total amount of medical waste produced globally is expected to increase by 2-3% each year.

Healthcare waste contain harmful microorganisms, which can infect patients, health workers and general public, and pollute the environment. As a result, an increasing number of medical waste generators, such as hospitals, clinics / labs and pharmaceutical companies are relying on the medical waste management service providers that are well-equipped with advanced technologies and have the required expertise for disposal of waste. These service providers offer end-to-end solutions from pick-up to final disposal of hazardous and bio-hazardous waste materials by complying to the safety standards set forth by government regulatory bodies (such as US Environmental Protection Agency (US EPA), Occupational Safety and Health Administration (OSHO) and European Environment Agency (EEA)).

Medical waste management companies provide several advantages, including increasing human safety (waste handlers, scavengers, and people living near hospitals), shortening waste management timelines and reducing high costs associated with the waste treatment and disposal. Thus, with the adoption of sustainable medical waste segregation, collection, safe storage, transportation and disposal practices offered by the medical waste management firms, the increased incidence rates of HIV/AIDS, sepsis, hepatitis and other illnesses are likely to reduce considerably.

In addition, medical waste management can mitigate the risk of environmental damage. With outsourcing becoming increasingly accepted as a viable and beneficial business model within this field, the global medical waste management market is expected to witness remarkable growth during the forecast period, 2024-2035.

Medical Waste Management Market Share Insights

The market research report presents an in-depth analysis of the various companies in the pharmaceutical waste management market, across different segments, as defined below:

• Historical Trend: 2018-2023
• Base Year: 2023
• Forecast Period: 2024-2035
• Market Size in 2024: $5 Billion
• CAGR: 13%
• Type of Service Offered
  • Collection
  • Treatment
  • Recycling
  • Disposal
• Type of Waste
  • Hazardous Waste
  • Non-hazardous Waste
• Treatment Site
  • On-site
  • Off-site
• Treatment Method
  • Incineration
  • Autoclave / Steam
  • Chemical / Mechanical
  • Microwave
  • Irradiation
• Category of Waste
  • General
  • Infectious
  • Pathological
  • Sharp
  • Pharmaceutical
• Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and North Africa
  • Rest of the World
• Key Companies Profiled
  • ACE WASTE
  • Averda
  • Axil Integrated Service
  • Clean Harbors
  • Cleanaway Waste Management
  • Curtis Bay Medical Waste Services
  • E-Coli Waste Management
  • GreenTech Environ Management
  • Heritage Environmental Services
  • Initial Medical
  • Medicare
  • MedPro Disposal
  • REMONDIS Mendison
  • Stericycle
  • Trilogy MedWaste
  • Triumvirate Environmental
  • Veolia
  • WM
  • (Full list of 95+ companies captured is available in the report)
• PowerPoint Presentation (Complimentary)
• Customization Scope: 15% Free Customization
• Excel Data Packs (Complimentary)
  • Market Landscape
  • Company Competitiveness Analysis
  • Recent Development and Initiatives
  • Market Forecast and Opportunity Analysis

Market Segmentation Overview

Market Share by Type of Service Offered

Depending on the type of service offered, the global medical waste management market is categorized into collection, treatment, recycling and disposal. The treatment segment occupies the highest market share in 2024 and this trend is expected to remain same during the forecast period. This can be attributed to the enormous costs associated with the utilization of cutting-edge technologies / equipment to reduce the quantity of waste that has to be disposed into a landfill.

Market Share by Type of Waste

This section segments the global medical waste management market into hazardous waste and non-hazardous waste. Hazardous waste segment occupies the highest market share in 2024 and is expected to be remain dominant during the forecast period. This is due to the fact that hazardous waste or infectious waste generated is considered more harmful to human health / environment (even though hazardous or infectious waste generated is much lower in volume than non-hazardous waste) due to the inherent complexities associated with these types of waste.

Market Share by Treatment Site

Based on the treatment site, the global medical waste management market is categorized into on-site and off-site. Currently, off-site segment occupies the largest market share in the overall market. Further, owing to the various advantages offered by on-site services, including increased safety, cost-effectiveness and environment friendliness, on-site waste management is likely to grow at a higher CAGR as compared to off-site medical waste management.

Market Share by Treatment Method

Depending on the treatment method, the global medical waste management market is categorized into incineration, autoclave / steam, chemical / mechanical, microwave and irradiation. The incineration segment occupies the highest share in 2024 and is expected to remain dominant during the forecast period. However, autoclave / steam market segment is expected to witness substantial market growth in the coming years as they can be implemented in the medical facilities of all sizes much more easily as an on-site service.

Market Share by Category of Waste

This section segments the global medical waste management market into general, infectious, pathological, sharp and pharmaceutical. Presently, the market is dominated by the revenues generated from infectious waste and is expected to remain dominant during the forecast period.

Market Share by Key Geographical Regions

This segment highlights the distribution of medical waste management market across various geographies, such as North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, and Rest of the World. According to the projections, the medical waste management market in North America is likely to capture majority of the share, and this trend is unlikely to change in the future. It is worth highlighting that the market in Asia-Pacific is expected to grow at a relatively healthy CAGR (14%), during the period 2024-2035.

Medical Waste Management Market Key Insights

The market report features an extensive study of the current market landscape, market size and future opportunities within the domain of medical waste management, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry. Key takeaways of the medical waste management market research report are briefly discussed below.

Rising Prevalence of Infectious Diseases to Drive Medical Waste Management Market

Medical waste generation and accumulation is a crucial aspect, especially in the countries that are densely populated, and have poor hygiene, high resource constraints and limited access to the upgraded healthcare services. Moreover, the research associated with unidentified chronic or infectious diseases, along with diagnosis of these diseases for early detection, prevention, and treatment has also led to the increased production of medical waste. Hence, due to the aforementioned factors, the medical waste management disposal practices are being utilized extensively and the medical waste management market is expected to experience accelerated market growth.

Competitive Landscape of Medical Waste Management Companies

Presently, over 95 medical waste management firms claim to offer medical waste collection, segregation, storage services, transportation, treatment, recycling services and disposal services. It is interesting to note that the medical waste management market seems to be well-fragmented, featuring the presence of small, mid-sized, large, and very large companies. These firms possess the required expertise to offer waste management services across different healthcare verticals, including pharmaceutical companies, hospitals, clinics / labs and other verticals. Further, majority of these players are headquartered in North America (~65%), followed by Europe and Asia-Pacific. Additionally, it is important to highlight that, currently, over 95% of the companies are actively involved in providing management services for hazardous waste, followed by infectious waste.

Medical Waste Management Market Trends Analysis: Partnerships and Collaborations have Fueled the Market Growth

In recent years, several partnerships have been signed by industry stakeholders, in order to consolidate their presence in this field, and enhance their capabilities and service portfolio to provide innovative waste management solutions to various waste generators. Notably, most of the agreements signed in this domain were instances of acquisitions and service agreements. It is worth highlighting that over 70% of the partnerships have been inked for waste treatment purposes.

Market Analysis: Global Medical Waste Management Market Size

The global market for medical waste management is estimated to be worth USD 5 billion in 2024. The market growth is expected to be driven by the growing geriatric population, chronic diseases and stringent regulatory waste management guidelines leading to a CAGR of 13% over the forecast period. Further, in terms of treatment method, the incineration method is expected to capture majority of the market share during the forecast period. However, in terms of market growth, autoclave / steam treatment method is expected to grow at a relatively high CAGR of 17% during the forecast period.

Regional Analysis: North America Emerged as the Hub of Medical Waste Management Services; Asia-Pacific to be the Fastest Growing Market

Presently, North America captures close to 70% of the overall medical waste management market share. In recent years, demand for medical waste management in the North America region has witnessed a tremendous increase owing to the government support, and increasing R&D expenditure and technological advancements (leading to better healthcare facilities and the higher number of surgical procedures, which in turn will result in generation of increased volume of medical waste). It is worth highlighting that, in the coming years, Asia-Pacific is likely to grow at a higher CAGR as compared to other regions.

Key Players in Medical Waste Management Market

Examples of key players in medical waste management industry (which have also been profiled in this market report; the complete list of companies is available in the full report) include Averda, Clean Harbors, GreenTech Environ Management, Medicare, MedPro Disposal, REMONDIS Mendison, Stericycle, Triumvirate Environmental, Veolia Environmental Services and WM. This market report includes an easily searchable excel database of all the medical waste management companies.

Recent Developments in Medical Waste Management Market

Several recent developments have taken place in the field of medical wase management market, some of which have been outlined below. These developments, even if they took place post the release of the market report, substantiate the overall market trends that the analyst has outlined in the analysis.

• In September 2023, WM invested a sum of USD 30 million in order to expand its manufacturing capacity at its facility based in Ohio, US.
• In August 2023, University Medical Center Utrecht acquired sterilwave treatment solution from Bertin Medical Waste BianoGMP to strengthen its hospital waste management services.
• In August 2023, TBS Energi Utama acquired Asia Medical Enviro Services, a leading biohazardous and medical waste treatment company, to diversify its business portfolio beyond coal mining sector.

Medical Waste Management Market Report Coverage

The medical waste management market report presents an in-depth analysis, highlighting the service offered by various service providers, across different geographies. Amongst other elements, the market report includes:

• A preface providing an introduction to the full report, Medical Waste Management Market, Till 2035.
• An outline of the systematic research methodology adopted to conduct the study on medical waste management industry, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of the findings.
• An overview of economic factors that impact the overall pharmaceutical waste management market outlook, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
• An executive summary of the key insights captured during the research, offering a high-level view on the current landscape of medical waste management industry and its likely evolution in the short to mid and long term.
• A general overview of medical waste management. It further includes a detailed discussion on various types of medical waste, along with type of medical waste generators and methods of treating medical waste. It concludes by presenting the future perspectives associated with medical waste management.
• A comprehensive assessment of the overall market landscape of medical waste management service providers, based on several relevant parameters, such as year of establishment, company size (in terms of employee count), location of headquarters, type of waste (infectious waste, hazardous waste, radioactive waste and non-hazardous waste), type of service offered (collection, segregation, storage, transportation, treatment, recycle and disposal), treatment method (incineration, autoclave / steam, chemical / mechanical, microwave and irradiation), treatment site (on-site and off-site) and waste generators (pharmaceutical companies, clinics / labs, hospitals and others).
• A detailed competitiveness analysis of medical waste management service providers based on supplier strength (in terms of years of experience), portfolio strength (in terms of type of waste, treatment site, treatment method and waste generators) and number of services offered.
• Elaborate profiles of prominent companies (shortlisted based on the proprietary criteria) engaged in offering medical waste management services. Each profile features a brief overview of the company, financial information, service portfolio, recent developments and an informed future outlook.
• An analysis of recent developments in the medical waste management industry, featuring information on several partnerships and collaborations, and expansion initiatives that have taken place in this domain, during the period 2018-2023.
• An in-depth analysis of the factors that can impact the growth of medical waste management market. It also features identification and analysis of key drivers, potential restraints, emerging opportunities, and existing challenges.
• A detailed market forecast analysis in order to estimate the existing market size and future opportunity for medical waste management over the next 11 years. Based on multiple parameters, likely adoption trends and through primary validations, the analyst has provided an informed estimate on the market size during the forecast period 2024-2035.
• Detailed projections of the current and future opportunity within the medical waste management market across different types of service offered, such as collection, treatment, recycling and disposal.
• Detailed projections of the current and future opportunity within medical waste management industry across different types of waste, such as hazardous and non-hazardous.
• Detailed projections of the current and future opportunity within medical waste management market across different treatment site, such as on-site and off-site.
• Detailed projections of the current and future opportunity within medical waste management market across different treatment method, such as incineration, autoclave / steam, chemical / mechanical, microwave and irradiation.
• Detailed projections of the current and future opportunity within medical waste management industry across different category of waste, such as general, infectious, pathological, sharp and pharmaceutical.
• Detailed projections of the current and future opportunity within the medical waste management market across key geographical regions, such as North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, and Rest of the World.

One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential for the medical waste management market, over the forecast period. Based on multiple relevant parameters, likely adoption trends and primary validations, the analyst has provided an informed estimate on the market evolution during the forecast period 2024-2035.

The pharmaceutical waste management market analysis also features the likely distribution of the current and forecasted opportunity within this market across various segments, such as distribution by type of service offered (collection, treatment, recycling and disposal), type of waste (hazardous waste and non-hazardous waste), treatment site (on-site, off-site), treatment method (incineration, autoclave / steam, chemical / mechanical, microwave and irradiation), category of waste (general, infectious, pathological, sharp and pharmaceutical) and key geographical regions (North America, Europe, Asia-Pacific, Latin America Middle East and North Africa, and Rest of the World).

In order to account for future uncertainties and to add robustness to the model, the analyst has provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

All actual figures have been sourced and analysed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

Key Benefits of Buying this Report

• The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.
• Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
• The report provides stakeholders with a pulse on the Medical Waste Management Market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.