Global Medical Waste Management Market, By Type of Waste (Non-hazardous waste, Hazardous waste), By Treatment (Incineration, Autoclaving, Chemical treatment, Other treatments), By Service (Collection, transportation, and storage, Treatment and disposal, Recycling, Other services), By Treatment Site (Off-site treatment, On-side treatment), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

Published:
July 2021
Report Code:
bwc21416
Available Format:
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Pages:
143

medical waste management market report

Global Medical Waste Management Market- Industry Trends & Forecast Report 2027

The global medical waste management market was worth USD 6.5 billion in 2020 and is further projected to reach USD 9.8 billion by the year 2027, growing at a CAGR of 6.1% in the forecast period (2021-2027). The growth of this market can be attributed to factors such as the development in the healthcare and medical industry, technological advancements, along with the rising prevalence of the chronic diseases and increasing road accidents. Furthermore, as the healthcare and medical sector grows, enormous amounts of medical waste and by-products are generated.


Source: BlueWeave Consulting

Global Medical Waste Management Market- Overview

Medical waste management entails the efficient processing of waste generated by healthcare facilities. Medical waste is the waste which is generated by healthcare or medical facilities during any diagnosis or medical treatment of humans or animals. Bandages, gloves, syringes, culture dishes, tissues, scalpels, swabs, etc. are some of the most commonly used medical items which generate large amounts of waste as they are for only one-time use. The medical waste contains contaminated and infectious materials and body fluids like blood, pus, and so on. Hospitals, laboratories, dentistry practices, physician's clinics, veterinary clinics, medical research institutes, and other healthcare facilities generate a significant amount of medical waste. According to the WHO, non-hazardous waste accounts for around 85% of all waste generated by health-care activities. Thus, about 15% of all waste is hazardous, whether it is infectious, toxic or radioactive. Environmentally friendly treatment procedures are used in medical waste management solutions. Using these treatments, waste can be repurposed into resources while emitting zero toxic emissions.

Global Medical Waste Management Market Forecast and Trends

Growth Drivers

Increasing Healthcare Facilities and Medical Waste

Recently, the development of healthcare facilities such as hospitals and clinics has accelerated, especially in developing countries. As for healthcare developments, government as well as private facilities are both investing in this sector. As a result, the release of medical waste has increased several folds. This is one of the most crucial reasons which has triggered the growth of the medical waste management market. Furthermore, a multitude of medical waste items like PPE kits, gloves, masks, etc. have exploded in the wake of the recent Coronavirus outbreak. When COVID-19 was first reported in China, the Emergency Management Office of the Ministry of Ecology and Environment reported a 23% increase in medical waste generation and treatment.

Expanding Research and Development in the Technological Advancements

As research and development (R&D) in waste management and treatment techniques expands, the global medical waste management market is expected to increase significantly during the forecast period. With technical advancements, it is possible to develop new techniques and processes for the treatment of medical waste that are both effective and do not harm the environment. Furthermore, the waste management companies too are investing considerable amounts on research and development to launch effective products, which is estimated to drive the growth of the medical waste management market in the foreseeable future. Moreover, the World Health Organization (WHO) reaffirmed in a meeting in Geneva in June 2007 that the government should allot some budget for setting up, supporting, and maintaining an efficient healthcare waste management system. This initiative is also encouraging R&D in medical waste management.

Restraints

High Capital Investments Involved for the Equipment may Hinder the Market Growth

Since the past few years, the global market for medical waste management has grown at an astounding rate. However, high capital investment involved in the initial setup may hinder the market growth. A lack of industrial recycling facilities, especially in developing countries, may pose another obstacle. Furthermore, lack of awareness regarding the proper disposal of medical waste in emerging economies like India is limiting the government’s interest and investments in the development of waste management facilities, which may slow down the growth rate of the market. Also, lack of effective medical waste management training program for the hospital staff is yet another obstacle impeding the growth of the market.

Impact of Covid-19 on Global Medical Waste Management Market

Due to the Covid-19-induced pandemic, the global medical waste management market flourished immensely. As the Covid-19 cases surged around the world, the demand for healthcare services increased. Various medical conditions, including Covid-19 treatment, resulted in an increase in patients seeking treatment in healthcare facilities. According to Biotic Waste Management, a leading common facility in Delhi (India) for biomedical waste treatment, the average daily generation of biomedical waste was 7.2 tonnes in July 2020, which increased to 12.5-23 tonnes by the end of April 2021. Consequently, there is a strong tendency for medical waste to accumulate, which poses a concern for almost every country. As a result of the pandemic, the need for proper medical waste management accelerated, driving the overall market to grow.

Global Medical Waste Management Market - By Type of Waste

Based on the types of waste, the medical waste management market is segmented into non-hazardous and hazardous waste. The hazardous waste segment includes sharps, chemical waste, pharmaceutical waste, pathological waste, and others while non-hazardous medical waste includes pulp and paper, glass, concrete, iron and steel, etc. Based on special guidelines for proper disposal of medical waste in light of COVID-19, the nonhazardous waste segment is expected to account for a significant share of the medical waste management market during the forecast period and to grow at a higher CAGR.

Global Medical Waste Management Market - By Treatment

Based on treatment type, the medical waste management market is segmented into incineration, autoclaving, chemical treatment, and others. The incineration segment accounted for the largest market share in the year 2020. The growth in this segment can be associated with technological advancements, increasing government initiatives for medical waste management and the generation of huge medical waste across the globe by the medical & healthcare industry. However, the autoclaving technique is expected to witness a high CAGR during the forecast period as it uses heat, steam, and pressure for processing waste, which is deemed as environment friendly. As a sterilizer, an autoclave is capable of destroying bacteria and infectious materials found in biomedical waste.

Global Medical Waste Management Market - By Service

Based on service, the global medical waste management market is categorized into collection, transportation, and storage, treatment and disposal, recycling and other services. Waste management companies offer and include all these services. These services are usually executed both at on-site and off-site locations. Among all the services, the treatment and disposal segment registered the largest market share. The recycling segment, however, is expected to grow at a rapid rate during the forecast period as healthcare facilities attempt to cut down on medical waste amount and costs overall.

Global Medical Waste Management Market - Regional Insights

Based on region, the global medical waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these regions, North America holds the largest market share due to its policy and reforms for medical waste management, rising prevalence of infectious and chronic diseases that require advanced medical & surgical aids, which generates a vast number of by-products and residues, which in turn is likely to drive the medical waste management market globally in the coming years. On the other hand, Europe holds the second-largest position, with countries such as France at the forefront of Covid-19 during its early stages.


Competitive Landscape

The leading market players in the global medical waste management market are Biomedical Waste Solutions, LLC, Clean Harbors, Inc., Waste Management, Inc., Suez Environmental Services, Veolia Environmental Services, Daniels Sharpsmart Inc., US Ecology, Inc., Republic Services, Inc., Stericycle, Inc., All Medical Waste Australia Pty Ltd., Casella Waste Systems, Inc., and other prominent players. The companies are consistently focusing on launching effective products and services for expanding their product portfolio and consumer base. The adoption of competitive strategies like partnerships, mergers, acquisitions, product launches is also very common in this market.

Recent Developments

l  In May 2021, Truist Financial Corporation, an American bank holding company which offers corporate and investment banking services, announced to add waste and environmental services into their industry specialties. The waste management company will primarily focus on industrial waste, medical waste, commercial waste, etc.

l  In May 2021, Stericycle, Inc., a renowned medical waste management firm established in the United States, received the Silver Stevie Award in the 19th Annual American Business Awards.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

By Type of Waste, By Treatment, By Service, By Treatment Site, By Region 

Key Players

Biomedical Waste Solutions, LLC, Clean Harbors, Inc., Waste Management, Inc., Suez Environmental Services, Veolia Environmental Services, Daniels Sharpsmart Inc., US Ecology, Inc., Republic Services, Inc., Stericycle, Inc., All Medical Waste Australia Pty Ltd., Casella Waste Systems, Inc., Sharps Compliance, Inc., Remondis Se & Co. Kg, Triumvirate Environmental Inc., GIC Medical Disposal, Gamma Waste Services, GRP & Associates, Inc., Ecomed Services, Medpro Disposal, and other prominent players

By Type of Waste

Ø  Non-hazardous waste

Ø  Hazardous waste

By Treatment

Ø  Incineration

Ø  Autoclaving

Ø  Chemical treatment

Ø  Other treatments

By Service

Ø  Collection, transportation, and storage

Ø  Treatment and disposal

Ø  Recycling

Ø  Other services

By Treatment Site

Ø  Off-site treatment

Ø  On-side treatment

By Region

Ø  North America

Ø  Europe

Ø  Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  Middle-East & Africa (MEA)

FAQs:

1. What is the current size of the global medical waste management Market?

Answer: The global medical waste management Market reached USD 6.5 billion in 2020.

2. What are the major factors driving the growth of the global medical waste management Market?

Answer: The major factors driving the growth of the global medical waste management Market are; increasing healthcare facilities and medical waste and expanding research and development in the technological advancements.

3. Who are the key players in the global medical waste management Market?

Answer: The key players in the global medical waste management Market are: Biomedical Waste Solutions, LLC, Clean Harbors, Inc., Waste Management, Inc., Suez Environmental Services, Veolia Environmental Services, Daniels Sharpsmart Inc., US Ecology, Inc., Republic Services, Inc., Stericycle, Inc., All Medical Waste Australia Pty Ltd., Casella Waste Systems, Inc., Sharps Compliance, Inc., Remondis Se & Co. Kg, Triumvirate Environmental Inc., GIC Medical Disposal, Gamma Waste Services, GRP & Associates, Inc., Ecomed Services, Medpro Disposal, and other prominent players

4. Which treatment segment accounted for the largest share in the global medical waste management Market?

Answer: The incineration segment accounted for the largest share in the global medical waste management Market.

5. Which region is at the highest growth rate in the global medical waste management Market?

Answer: North America has the largest share in the global medical waste management Market.

COVID-19

We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at

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