The "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" report has been added to ResearchAndMarkets.com's offering.

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 the 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.

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.

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 Attributes:

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

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
• 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

For more information about this report visit https://www.researchandmarkets.com/r/kokmls

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