Medical Waste Management Market size is expected to be valued at USD 9.2 billion by 2027, growing at a CAGR of 6.22% from 2022 to 2027.

Any waste generated from the treatment procedures from the healthcare facilities that can create potential harm to the public, animals, and environment is called medical waste management

Medical Waste Management Market Drivers:

The rising volume of medical waste from healthcare facilities is one of the key factors promoting the growth of the medical waste management market. The recent COVID-19 pandemic has significantly increased the volume of medical waste worldwide. According to World Health Organization (WHO), an estimated 144000 tonnes of medical waste in the form of syringes, needles, and others has been generated from more than 8 billion vaccine doses. Countries such as the U.S., Canada, Kazakhstan, Iran, and others contributed significantly to global medical waste production in 2021.

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Medical Waste Management Market Restraints:

High costs associated with the equipment, technologies, and transportation that operate with medical waste management are one of the major factors hampering the market growth. Furthermore, worldwide, many do not adequately understand the challenges and damages that medical waste can create. This lack of awareness among people and healthcare facilities limits the market’s growth rate. In addition, many hospitals and other healthcare facilities are not providing any training to the staff regarding the proper disposal of medical waste, which is expected to slightly inhibit the market’s growth rate.

Medical Waste Management Market Opportunities:

The rise in awareness programs regarding medical waste management in emerging economies is anticipated to offer growth opportunities to the market. Furthermore, growing investments and initiatives by the governments around medical waste management, raising awareness, and increasing adoption of medical waste management in developing countries are further projected to lucrative growth possibilities to the market during the forecast period.

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Impact of COVID-19 on the medical waste management market:

Almost every country across the world went under pressure significant pressure due to COVID-19. To fight the virus spread, many countries closed their borders and announced lockdowns. COVID-19 significantly impacted many individuals, businesses, and industries worldwide and created massive supply chain disruptions. However, COVID-19 has positively impacted the medical waste management market.

Medical Waste Management Key Developments:

In March 2022, Republic Services, an American medical waste disposal company, completed the acquisition of US Ecology, Inc.

Medical Waste Management Market Segmentation:

Medical Waste Management Market – By Type

Hazardous Waste
Non-hazardous Waste
Based on type, the non-hazardous segment dominated the market in 2021 and is expected to hold the largest share of the medical waste management market during the forecast period. The increasing volume of non-hazardous waste generated from the growing number of healthcare facilities worldwide and the rising number of surgeries performed are propelling the segment's growth. According to World Health Organization, 85% of 100% is a non-hazardous waste.

On the other hand, the hazardous segment had 21.2% of the global market share in 2021 and is expected to continue accounting for a substantial share of the global market during the forecast period. Hazardous medical waste is infectious and toxic. Hence, proper disposal of hazardous medical waste is crucial to avoid its negative impacts. In addition, the growing usage of chemicals to perform surgical operations, growing awareness, increasing funds to conduct R&D, and rising incidence of infectious diseases are promoting the segment’s growth.

Medical Waste Management Market – By Treatment Site

Onsite
Offsite
The offsite segment had the most significant share of the global medical waste management market in 2021 and is anticipated to hold a significant market share during the forecast period. Growing adoption of technological waste management solutions, rise in R&D activities, and an increasing number of people suffering from various diseases are escalating the segment's growth. In the offsite segment, the waste segregation will be done by a professional from the site.

The onsite segment is anticipated to account for a considerable global market share during the forecast period. An increasing amount of biomedical waste generated from healthcare facilities is one of the factors supporting the segment’s growth.

Medical Waste Management Market – By Service

Recycling
Treatment and Disposal
Collection, Transportation, and Storage
Medical Waste Management Market – By Waste Generator

Hospitals
Retail Pharmacy
Blood Banks
Laboratories
Research Institutions
Others
Medical Waste Management Market – By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Medical Waste Management Market Key Players:

Waste Management Inc.
Clean Harbors, Inc.
Daniels Sharpsmart, Inc.
Veolia Environmental
Gamma Waste Systems
Biomedical Waste Solutions. LLC
GRP & Associates, Inc.
Republic Services, Inc.
Stericycle
Triumvirate Environmental
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