08-Jun-2021 | Facts and Factors
According to Facts and Factors, the global medical waste management market was valued at over USD 6,800 Million in 2020 and is expected to generate over USD 9,400 Million in revenue by the end of 2026, with a CAGR of around 5.6% between 2021 and 2026.
Medical waste is garbage created by healthcare institutions such as physician's offices, hospitals, dental practices, labs, medical research institutions, and veterinary clinics that contains infectious material. Medical waste may contain body fluids, such as blood, as well as other pollutants. The Medical Waste Tracking Act of 1988 defines it as waste created during human or animal medical research, testing, diagnosis, vaccination, or treatment. Bandages, swabs, gloves, discarded needles, and tissue are just a few examples of medical waste.
Effective wastage segregation is essential for medical waste management. If it is not done appropriately, there is always the risk of a little number of dangerous materials being mixed in with a huge amount, eventually contaminating the entire volume. The demand for medical waste management is expected to increase significantly as a result of the highest utilization of biomedical products and technologies, the growing elderly population, rising healthcare costs, strict market laws, and raising awareness of environmental and public-health security and safety. The industry is growing due to factors such as the rising number of such items, increased attention on the management of medical waste, and a strict regulatory framework to manage these items safely and environmentally. The management is highly fragmented, with a significant number of trash management behemoths as well as newcomers. Furthermore, developing businesses have a higher chance of entering the market due to the availability of research funding, a favorable regulatory environment, and rules that aid newcomers. Medical waste created by clinics, hospitals, and healthcare institutes is classified as either hazardous or non-hazardous by the World Health Organization. However, non-hazardous and general waste accounts for 85 percent of the waste created, while hazardous waste accounts for 15%.
Waste Management, Inc., US-based waste management, company, paid $4.6 billion for Advanced Disposal Services, Inc. in 2019. The acquisition expanded the company’s footprint and allowed it to provide an unrivaled level of differentiated, sustainable waste management and recycling services to approximately 3 million new industrial, residential, and commercial customers in 16 states across the eastern half of the United States.
Top Market Players
Major players operative in the global medical waste management are Stericycle, All Medical Waste Australia Pty Ltd., Veolia Environnement S.A., MedPro Disposal, Suez Environnement, Triumvirate Environmental, Clean Harbors, Gamma Waste Services, REMONDIS AG & Co. KG, BWS Incorporated, Sharps Compliance, Inc., GRP & Associates, Waste Management, Inc., GIC Medical Disposal, BioMedical Waste Solutions, LLC, EPCO, Daniels Sharpsmart Inc., Casella Waste Systems, Inc., Republic Services, Inc. and EcoMed Services amongst others.
Market Dynamics
The medical waste management industry is likely to be driven by the increased usage of disposable medical items in healthcare institutions. Most goods used in a healthcare context are single-use to prevent cross-contamination among patients and reduce hospital-acquired infections. Due to the COVID-19 pandemic epidemic, the usage of single-use or disposal goods increased dramatically. Surgical gloves, masks, disposable bed sheets, intravenous saline bags, syringes, and other commonly used disposables make for the majority of hospital waste. As a result, the market is likely to be driven by the increased usage of disposable medical items.
The medical waste management market's expansion is being stifled by a lack of knowledge in emerging nations. Lack of knowledge of biomedical waste regulatory requirements and medical waste management protocols among health care providers and sanitation workers is triggering improper waste segregation, resulting in increased toxic waste, needle prick injuries, and infections such as hepatitis, putting a strain on medical waste management companies. Infectious waste (also known as hazardous medical waste) accounts for 15 to 25% of overall healthcare waste. Health care waste is not segregated into hazardous and non-hazardous waste in low-income nations, according to the World Health Organization (WHO), resulting in an increase in the real quantity of hazardous waste. As a result, in developing nations, a lack of understanding is impeding the growth of the medical waste management market.
Medical waste management is one of the most significant difficulties that healthcare practitioners encounter on a daily basis. Other issues, including HIPAA, epidemiology, possible civil lawsuits, and state and municipal legislation, might make it more difficult. The leading players in the medical waste management industry are concentrating on expanding their service and product portfolios in the waste management industry. In order to enhance their market position in the global medical waste management market, companies are pursuing different growth methods such as collaborations, agreements, mergers, and acquisitions.
North America is projected to Dominate Global Medical Waste Management Market Growth
In terms of value, the highest market share was held by North America, followed by the Asia Pacific. The rise of the medical waste management sector in North America is being fueled by the region's aging society and stringent laws.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 6,800 Million |
Projected Market Size in 2026 |
USD 9,400 Million |
Growth Rate |
CAGR 5.6% |
Base Year |
2020 |
Forecast Years |
2021–2026 |
Key Market Players |
Stericycle, All Medical Waste Australia Pty Ltd., Veolia Environnement S.A., MedPro Disposal, Suez Environnement, Triumvirate Environmental, Clean Harbors, Gamma Waste Services, REMONDIS AG & Co. KG, BWS Incorporated, Sharps Compliance, Inc., GRP & Associates, Waste Management, Inc., GIC Medical Disposal, BioMedical Waste Solutions, LLC, EPCO, Daniels Sharpsmart Inc., Casella Waste Systems, Inc., Republic Services, Inc. and EcoMed Services and Others |
Key Segment |
By Service Type, By Waste Type, By Treatment Site, By Waste Generator and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Browse the full “Medical Waste Management Market by Service Type (Collection, Transportation, & Storage Services, Recycling Services, Treatment & Disposal Services, and Others) By Waste Type (Hazardous Waste and Non-Hazardous Waste), By Treatment Site (Onsite Treatment and Offsite Treatment), By Waste Generator (Hospitals, Research Centres, Diagnostic Laboratories, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/medical-waste-management.
The global medical waste management market is segmented as follows:
By Service Type:
- Collection, Transportation, & Storage Services
- Recycling Services
- Treatment & Disposal Services
- Others
By Waste Type:
- Hazardous Waste
- Non-Hazardous Waste
By Treatment Site:
- Onsite Treatment
- Offsite Treatment
By Waste Generator:
- Hospitals
- Research Centres
- Diagnostic Laboratories
- Others
By Region:
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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