Medical Waste Management Market Size, Share, Trends, Outlook, Growth Opportunities, and Forecast 2023 - 2030

Medical Waste Management Market is segmented By Service Type (Disposal, Recycling, Collection, Transportation & Storage, Others), By Treatment (Chemical treatment, Incineration, Autoclaving, Others), By Type of Waste (Non-Hazardous Waste, Hazardous Waste), By Treatment Site (Offsite Treatment, Onsite Treatment), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Market Overview

The Global Medical Waste Management Market reached USD 6.2 billion in 2022 and is expected to reach  USD 9.3 billion by 2030, exhibiting a CAGR of 5.3% during the forecast period (2023-2030). A growing quantity of medical waste created as a consequence of boost in healthcare establishments and practices,

The growing utilization of single-use apparatuses, raising concerns regarding hazards associated with the environment and general health posed by inappropriate medical waste dumping, and stringent government restrictions controlling medical waste dumping are among the other significant aspects that are expected to boost global medical waste management market growth in the forecast period.

Market Scope

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Market Dynamics

Increasing Healthcare Spending Drives the Growth of the Medical Waste Management Market

Increasing healthcare spending is expected to boost the global medical waste management market growth in the forecast period. For instance, according to the Economic Survey of 2022, India’s public spending on healthcare was 2.1% of the country’s GDP in 2021–2022 corresponding to 1.8% in 2020–2021 and 1.3% in 2019–2020. 

Moreover, according to the Organisation for Economic Co-operation and Development in South Korea, health expenditure as a share of the GDP grew from 7.5% in 2018 to 8.8% in 2021.  Also, according to the International Trade Administration, Singapore’s healthcare expenditure was assessed at 5.9% of the nation’s GDP in 2020, which is anticipated to rise to 9% by 2029.

Increasing Government Support is Expected to Present the Global Medical Waste Management Market With Growth Opportunities

The increasing government support is expected to present the global medical waste management market with prospective growth opportunities. For instance, in December 2022, two infirmaries in the Philippines were presented with two autoclaves via backing from China’s Global Development and South-South Cooperation Fund (GDF) managed by the China International Development Cooperation Agency (CIDCA), the Department of Health, Philippines, and the United Nations Development Programme.

High Cost of Medical Waste Management Equipment is Estimated to Hamper the Global Medical Waste Management Market During the Forecast Period

The high cost of medical waste management equipment is expected to hamper the global medical waste management market growth in the forecast period. For instance, over 100 kgs of treatable medical waste per hour capacity medical waste shredder machine/hybrid autoclave costs in the range of 250,000 – 650,000 USD. Moreover, an on-site incinerator equipped with air pollution controls that meet current international standards with a capacity of 5 and 3,500 kgs/hour on average costs in the range of 900,000 – 4,000,000 USD.

Segment Analysis

The global medical waste management market is segmented based on service type, treatment, treatment site, end user, and region.

The Onsite Treatment Segment of Medical Waste Management is Estimated to Around 37.8% of the Global Medical Waste Management Market Share

The onsite treatment segment of medical waste management is expected to hold around 37.8% of the global market share owing to the increasing product launches in this segment. For instance, in February 2022, Envetec Sustainable Technologies Limited introduced its GENERATIONS technology, a breakthrough cleantech solution that safely manages biohazardous waste and materials, like plastics, glass, PPE, sharp receptacles, and additional broad laboratory consumables, on-site at the origin. Envetec is among the frontiers in environmentally friendly, cleantech developments engineered for laboratories in the diagnostic, pharmaceutical, healthcare device, and food and beverage industries.

Source: DataM Intelligence Analysis (2023)

Geographical Penetration

North America is estimated to hold Approximately 38.3% of the Market Share by 2030, Owing to Rising Cancer Cases

Owing to the high medical waste production and increasing market developments in the North American region, it is estimated to dominate the global market holding around 38.3% of the market by 2030.  For instance, according to the American Medical Association, apart from a huge emissions footprint making up for 8% of total US emissions health care stays amongst the biggest waste-producing sectors. Hospital patients in the United States yield approximately 33.8 pounds of waste daily, generating around 6 million quantities yearly.

Moreover, in May 2022, Republic Services completed the acquisition of U.S. Ecology to grow in the U.S. and Canada by extending its environmental solutions enterprise. This platform delivered more elevated cross-selling income prospects and further acquisitions. This approach enabled the corporation to advance its market standing across the endeavor.

Source: DataM Intelligence Analysis (2023)

Major Key Players

The major global players in the medical waste management market include Stericycle Inc., Sharp Compliance Inc., Waste Management Inc. Clean Harbors Inc., Suez Environnement S.A. Republic Services Inc., Daniels Sharpsmart Inc., Veolia Environment, BioMedical Waste Solutions LLC, and Remondis Medison GmbH, among others.

COVID-19 Impact Analysis

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict is assumed to have had a moderate impact on the global medical waste management market, as during the 3 months of full-scale warfare, Russians sabotaged over 600 infirmaries and massacred at least 12 medics. Access to health care is majorly affected because of security considerations, limited mobility, damaged supply chains, and mass population eviction. 

Also, the lack of primary market players in this region is contributing to the influence. In addition, the significance of the import and export of fundamental materials are expected to slightly impact the global medical waste management market growth in the forecast period.

By Service Type

• Treatment and Disposal
• Recycling
• Collection, Transportation & Storage
• Others

By Treatment

• Chemical treatment
• Incineration  
• Autoclaving  
• Biological  
• Others

By Type of Waste

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

By Treatment Site

• Onsite Treatment
• Offsite Treatment

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In December 2021, Veolia Environnement S.A. introduced the Vigie Covid-19 solution, which can hunt indications of the Omicron variant in wastewater, functioning as a premature alarm technique for observing the advancement of the pandemic.
• In June 2022, Inter-American Development Bank (U.S.) declared backing for Brazil in updating waste management with 3D maps and interactive data.
• In January 2023, the Sterilwave solution, designed by Bertin Medical Waste, was awarded by the UNIDO (United Nations Industrial Development Organization) in the UNIDO Global Call 2022 in the Medical & Health class. Sterilwave has been identified as a trustworthy and creative technology solution for medical waste treatment.

Why Purchase the Report?

• To visualize the global medical waste management market segmentation based on service type, treatment, treatment site, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous medical waste management market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available in excel consisting of key products of all the major players.

The global medical waste management market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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