The global medical waste management market is projected to reach USD 12.2 billion by 2028 from USD 9.2 billion in 2023, at a CAGR of 5.9% during the forecast period. Market growth is driven by factors such as rise in traumatic and burn injuries, an increase in wound occurrences attributable to a surge in invasive procedures, and heightened durations of hospital stays. Where as lack of inadequate infrastructure for medical waste management and minimum to no awareness of the different technologies which are used for medical waste management in the developing and low income countries are the major factors impeding the growth of ths market.
Scope of the Report
Years Considered for the Study
2021-2028
Base Year
2022
Forecast Period
2023-2028
Units Considered
Value (USD) Billion
Segments
Service, type of waste, treatment site, waste generator and region
Regions covered
North America, Europe, Asia Pacific, Latin America, Middle East & Africa and GCC Countries
"The collection, transport and storage services segment accounted for the highest growth rate in the medical waste management market, by services, during the forecast period."
The medical waste management market is divided into collection, transport and storage services, treatment & disposal services and recycling services. Treatment & disposal services is estimated to hold the highest CAGR in 2022. Rise in the per capital income of the major regions like US and UK and increase in the healthcare facilities has improved the healthcare facilities which acts as one of the major factor for the growth of this market.
"The non-hazardous waste segment accounted for the highest growth rate in the medical waste management market, by type of waste, during the forecast period."
The medical waste management market is segmented into non-hazardous waste and hazardous waste based on type of waste. In 2022, the non-hazardous waste segment accounted for the highest growth rate in the medical waste management market. Increasing number of geriatric population leading to increase in diabetic cases and other health conditions like kidney and liver diseases are major factors contributing to the growth of this segment.
"Offsite treatment segment accounted for the highest share"
Based on treatment site, the medical waste management market has been segmented into offsite treatment and onsite treatment. In 2022, the offsite treatment segment accounted for the highest CAGR. This can be attributed to the increasing focus on waste management with stringent regulations and increased legal liabilities on pharmaceutical companies, hospitals and other healthcare facilities for the appropriate disposal of the medical waste to reduce the enivironmental contamination.
"Hospital & diagnostic laboratories segment accounted for the highest share"
Medical waste management market is segmented into hospitals & diagnostic laboratories and other waste generators based of waste generator. In 2022, hospitals & diagnostic laboratories segmented accounted for the highest share of this market. The highest share was attributed to the increased government focus on controlling and reducing the infectious diseases and implementing waste reduction initiatives such as seggregartion reducing the single use medical waste and possible treatment of medical waste in hospital for easing the burden of waste management on the government bodies.
"Asia Pacific: The fastest-growing region in medical waste management market"
The global medical waste management market is segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countfries. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising number of conferences for medical waste management awareness is driving the growth of the medical waste management market in this region.
The break-up of the profile of primary participants in the medical waste management market:
By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America - 42%, Europe - 31%, Asia Pacific - 20%, Latin America - 4%, Middle East & Africa- 2%, GCC Countries- 1%
The key players in this market are Veolia Environnement S.A. (France), Clean Harbors, Inc. (US), Stericycle Inc. (US), Waste Management, Inc. (US), Cleanaway Waste Management Limited (Australia), Casella Waste Systems, Inc. (US), Sharps Compliance, Inc. (US), Covanta Holding Corporation (US), Hazardous Waste Experts (US), REMONDIS SE & Co. KG. (UK), BioMedical Waste Solutions, LLC (US), EcoMed Services (Canada), GRP & Associates, Inc. (US), BWS Incorporated (US), MEDPRO Disposal LLC (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental (US), EPCO (Saudi Arabia), All Medical Waste Australia Pty Ltd. (Australia), Pro-Disposal Medical Waste Services (Georgia), SSO Medical Waste Management (US), Safeguard Waste Solutions (US), MedWaste Industries Inc. (US), DULSCO (UAE).
Research Coverage:
This report provides a detailed picture of the global medical waste management market. It aims at estimating the size and future growth potential of the market across different segments, such as services, type of waste, treatment site, waste generator and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities and challenges, influencing the growth of the medical waste management market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions and services, key strategies. New service launches and recent developments associated with the medical waste management market. Competitive analysis of upcoming startups in the medical waste management market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall medical waste management market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (increasing volume of healthcare waste, growing geriatric and obese population and rising number of surgical procedures), restraints (high capital investment), opportunities (increasing number of medical waste awareness programs in developed countries and rising adoption of single use medical non wovens and devices) and challenges (lack of awareness about medical waste in developing countries) influencing the growth of the medical waste management market.
Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service launches in the medical waste management market.
Market Development: Comprehensive information about lucrative markets - the report analyses the medical waste management market across varied regions.
Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the medical waste management market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Veolia Environnement S.A. (France), Clean Harbors, Inc. (US), Stericycle Inc. (US), Waste Management, Inc. (US), Cleanaway Waste Management Limited (Australia), Casella Waste Systems, Inc. (US), Sharps Compliance, Inc. (US), among others in the medical waste management market strategies.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 STAKEHOLDERS
1.5 SUMMARY OF CHANGES
1.6 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 MEDICAL WASTE MANAGEMENT MARKET: RESEARCH DESIGN METHODOLOGY
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary sources
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primary interviews
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach 1: Company revenue estimation approach
FIGURE 4 BOTTOM-UP APPROACH: COMPANY REVENUE ESTIMATION APPROACH
2.2.1.2 Approach 2: Presentations of companies and primary interviews
2.2.1.3 Growth forecast
2.2.1.4 CAGR projections
FIGURE 5 CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS
2.2.2 TOP-DOWN APPROACH
FIGURE 6 MEDICAL WASTE MANAGEMENT MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION METHODOLOGY
2.4 MARKET SHARE
2.5 ASSUMPTIONS AND LIMITATIONS
2.5.1 GROWTH RATE ASSUMPTIONS
2.5.2 LIMITATIONS
2.6 RISK ASSESSMENT
TABLE 1 RISK ASSESSMENT: MEDICAL WASTE MANAGEMENT MARKET
2.7 RECESSION IMPACT ANALYSIS
3 EXECUTIVE SUMMARY
FIGURE 8 MEDICAL WASTE MANAGEMENT MARKET, BY SERVICE, 2023 VS. 2028 (USD MILLION)
FIGURE 9 MEDICAL WASTE MANAGEMENT MARKET, BY TYPE OF WASTE, 2023 VS. 2028 (USD MILLION)
FIGURE 10 MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT SITE, 2023 VS. 2028 (USD MILLION)
FIGURE 11 MEDICAL WASTE MANAGEMENT MARKET, BY WASTE GENERATOR, 2023 VS. 2028 (USD MILLION)
FIGURE 12 MEDICAL WASTE MANAGEMENT MARKET, BY REGION, 2023 VS. 2028 (USD MILLION)
4 PREMIUM INSIGHTS
4.1 MEDICAL WASTE MANAGEMENT MARKET OVERVIEW
FIGURE 13 INCREASING VOLUME OF HEALTHCARE WASTE TO DRIVE MARKET
4.2 MEDICAL WASTE MANAGEMENT MARKET SHARE, BY SERVICE, 2023 VS. 2028
FIGURE 14 COLLECTION, TRANSPORTATION, AND STORAGE SERVICES SEGMENT TO DOMINATE MARKET TILL 2028
4.3 MEDICAL WASTE MANAGEMENT MARKET SHARE, BY TYPE OF WASTE, 2023 VS. 2028
FIGURE 15 NON-HAZARDOUS WASTE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
4.4 MEDICAL WASTE MANAGEMENT MARKET SHARE, BY TREATMENT SITE, 2023 VS. 2028
FIGURE 16 OFFSITE TREATMENT SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2022
4.5 MEDICAL WASTE MANAGEMENT MARKET SHARE, BY WASTE GENERATOR, 2023 VS. 2028
FIGURE 17 HOSPITALS & DIAGNOSTIC LABORATORIES TO DOMINATE MEDICAL WASTE MANAGEMENT MARKET
4.6 MEDICAL WASTE MANAGEMENT MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 18 ASIA PACIFIC REGION TO REGISTER HIGHEST GROWTH IN FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 MEDICAL WASTE MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing volume of healthcare waste
5.2.1.2 Growing geriatric and obese population
TABLE 2 ESTIMATED INCREASE IN GERIATRIC POPULATION, BY REGION (2019-2050)
5.2.1.3 Rising number of surgical procedures
TABLE 3 TOTAL NUMBER OF KNEE REPLACEMENTS, 2021
TABLE 4 TOTAL NUMBER OF CORONARY ARTERY BYPASS GRAFT PROCEDURES, 2022
5.2.2 RESTRAINTS
5.2.2.1 High capital investments
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing medical waste awareness programs in developed countries
5.2.3.2 Rising adoption of single-use medical nonwovens and devices
5.2.4 CHALLENGES
5.2.4.1 Lack of awareness in developing economies
5.3 PATENT ANALYSIS
FIGURE 20 PATENT ANALYSIS OF MEDICAL WASTE MANAGEMENT MARKET (JANUARY 2014-DECEMBER 2023)
TABLE 5 MEDICAL WASTE MANAGEMENT MARKET: LIST OF MAJOR PATENTS
5.4 TRADE ANALYSIS
5.4.1 TRADE ANALYSIS FOR INCINERATORS
TABLE 6 IMPORT DATA FOR INCINERATORS, BY COUNTRY, 2018-2022 (USD MILLION)
TABLE 7 EXPORT DATA FOR INCINERATORS, BY COUNTRY, 2018-2022 (USD MILLION)
5.5 VALUE CHAIN ANALYSIS
FIGURE 21 SORTING AND PROCESSING PHASES CLAIM MAJOR VALUE ADDITION
5.6 SUPPLY CHAIN ANALYSIS
FIGURE 22 MEDICAL WASTE MANAGEMENT MARKET: SUPPLY CHAIN ANALYSIS
5.7 ECOSYSTEM ANALYSIS
FIGURE 23 MEDICAL WASTE MANAGEMENT MARKET: ECOSYSTEM ANALYSIS
TABLE 8 MEDICAL WASTE MANAGEMENT MARKET: ROLE IN ECOSYSTEM
5.8 PORTER'S FIVE FORCES ANALYSIS
TABLE 9 MEDICAL WASTE MANAGEMENT MARKET: PORTER'S FIVE FORCES ANALYSIS
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 BARGAINING POWER OF SUPPLIERS
5.8.5 DEGREE OF COMPETITION
5.9 PESTLE ANALYSIS
5.10 REGULATORY ANALYSIS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.10.1 NORTH AMERICA
5.10.1.1 US
5.10.1.2 Canada
5.10.2 EUROPE
5.10.3 ASIA PACIFIC
5.10.3.1 Japan
5.10.3.2 India
5.10.4 LATIN AMERICA
5.10.4.1 Brazil
5.10.4.2 Mexico
5.10.5 MIDDLE EAST
5.10.6 AFRICA
5.11 TECHNOLOGY ANALYSIS
5.11.1 INCINERATION
5.11.2 AUTOCLAVING
5.12 KEY CONFERENCES & EVENTS, 2024-2025
TABLE 15 MEDICAL WASTE MANAGEMENT MARKET: DETAILED LIST OF CONFERENCES & EVENTS
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)** might not be captured in case of unlisted companies.