// changes done below on July 01 2024 // till here on July 01 2024

Medical Waste Management Market Revenue to Cross USD 19.4 billion by 2035

Published: June 2024


According to a recently published report by Roots Analysis, the increased prevalence of infectious diseases that has resulted in the surge of hospitalization rates and the necessity to comply with the evolving waste disposal regulatory landscape are driving the medical waste management market growth. 

Medical Waste Management Industry Overview

The global medical waste management market size was estimated to grow at an annualized growth rate of 13% and is expected to reach over USD 19.4 billion by 2035.

World Health Organization (WHO) defines medical waste as waste generated by health care activities, ranging from used needles and syringes to soiled dressings, body parts, diagnostic samples, blood, chemicals, pharmaceuticals, medical devices and radioactive materials and are likely to contain traces of infection causing organisms (bacteria and virus). According to a recent study, medical waste captures about 2-3% of the total amount of waste generated and about 13 tons of hazardous waste is produced per second, globally. This huge amount of waste generation has compelled medical waste generators to rely on medical waste management service providers that are well-equipped and have the required expertise for disposal of waste. Moreover, waste generators outsource various operations to tap into sophisticated facilities and know-how, particularly if service providers are utilizing cutting-edge technologies to recycle medical waste in order to minimize the quantity of raw materials consumed, as well as the amount of waste that has to be disposed into a landfill.

Browse 110+ figures and 120+ market data tables spread across 185 pages and detailed Table of Content on “Medical Waste Management Market, Industry Trends and Global Forecasts, Till 2035 by Type of Service Offered, Type of Waste, Treatment Site, Treatment Method, Category of Waste and Key Geographical Regions” here: https://www.rootsanalysis.com/reports/medical-waste-management-market.html

Market Drivers 

Several factors are propelling the growth of the medical waste management market. One of the key factors driving the future of medical waste management market is the continuous research efforts coupled with the increasing demand for effective therapies have led to the exponential growth in the establishment of new healthcare facilities. This in turn, has contributed to the generation of large amounts of medical waste. Additionally, service providers are increasingly focusing on enhancing their offerings by incorporating novel technologies to streamline waste management processes; these technologies further increase the treating capability and efficiency, and waste recycling capability. 

Market Restraints 

While the medical waste management market is experiencing substantial growth, there are various restraints that can hinder the growth of the industry. One of the primary restraints in this domain is the is the high cost involved in maintaining the well-equipped facilities, integrating sophisticated technologies and advanced equipment. Additionally, owing to the increasing industrialization and urbanization, there is lack of proper sites for safe disposal of medical waste. As a result, medical waste is often transported to longer distances in order to reach available facilities, which in turn increases the transportation costs associated with the waste management.

Growth Factors

Despite the challenges, several growth factors continue to drive the medical waste management market forward. Notably, rise in the awareness among communities for an eco-friendly environment has encouraged healthcare facilities to adopt sustainable practices for the management of medical waste. This in turn has increased the demand for medical waste management services leading to an increase in the number of such service providers in this domain. Additionally, a considerable increase in research and development efforts for the effective medical waste management, coupled with increasing investments from both public and private sectors, can drive innovation, efficiency and sustainability in this domain. Moreover, collaborations amongst healthcare facilities, medical waste management service providers, and government agencies are likely to foster market growth.

Medical Waste Management Market Segments 

Based on the type of service offered, the market is segmented into Treatment, Disposal, Recycling and Collection.

  • The treatment segment captures the largest revenue share of 50% in the medical waste management market, in 2024.
  • The treatment segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 13.5%, during the forecast period.

Based on the type of waste, the market is segmented into Hazardous waste and Non-hazardous waste.

Hazardous waste segment captures the largest revenue share of 90% in the medical waste management market, in 2024.
Non-hazardous waste segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 17%, during the forecast period.

Based on the treatment site, the market is segmented into On-site and Off-site.

  • The off-site treatment segment captures the largest revenue share of 64% in the medical waste management market, in 2024.
  • The on-site treatment segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 15.2%, during the forecast period.

Based on the treatment method, the market is segmented into Incineration, Autoclave / Steam, Chemical / Mechanical, Microwave and Irradiation.

  • The incineration treatment method segment captures the largest revenue share of 55% in the medical waste management market, in 2024.
  • The autoclave / steam treatment method segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 17%, during the forecast period.

Based on the category of waste, the market is segmented into General, Infectious, Pathological, Sharp and Pharmaceutical.

  • The infectious segment capture the largest revenue share of 30% in the medical waste management market, in 2024.
  • The general waste, infectious waste, pathological waste and sharp  waste segments are anticipated to be the fastest growing segments in this industry, with annualized rate of 13.3%, during the forecast period.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa and Rest of the World.

  • North America dominated the medical waste management market and accounted for the largest revenue share of 57% in 2024.
  • In Asia-Pacific, the medical waste management market is anticipated to demonstrate lucrative growth during the forecast period, 2024-2035.

Key Companies Profiled 

The medical waste management market report also includes profiles of key players (listed below) that offer services for medical waste management:

  • 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
  • Triology MedWaste
  • Triumvirate Environmental
  • Veolia 
  • WM

You Can Download Free Sample PDF Copy Of This Report At: 
https://www.rootsanalysis.com/reports/medical-waste-management-market/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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Gaurav Chaudhary
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Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
 

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