Medical Waste Management Market

Medical Waste Management Market Study by Sharps, Infectious & Pathological Waste, Radioactive Waste, Pharmaceutical Waste, and Non-infectious Waste from 2024 to 2034

Analysis of Medical Waste Management Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Medical Waste Management Market Outlook (2024 to 2034)

The global medical waste management market size has been calculated at a value of US$ 17.16 billion for 2024. A revised study conducted by Fact.MR forecasts the market to increase at a CAGR of 5.4% to reach US$ 29.01 billion by 2034.

Over the past few years, waste management has become a critical issue across the world, with medical waste a major headache. Rising focus on healthcare is contributing to the increasing volume of medical waste, further driving demand for effective pharmaceutical waste management and infectious waste management solutions.

The healthcare industry is witnessing a transformative phase and is anticipated to be in a constant state of flux over the forecast period as well. The burden on healthcare institutions is increasing due to the rising rate of hospitalization because of the growing prevalence of chronic diseases, which is further booming the volume of waste generated.

Governments across the world are implementing strict regulations to manage waste including plastic waste, radioactive waste, genotoxic, and chemotherapeutic waste. An increasing aging population, rising advancements in healthcare technologies, and growing healthcare expenditure across the globe are some other factors boosting the medical waste management market growth.

Medical waste management services are expected to see high demand growth in North America owing to the presence of stringent mandates regarding waste management and the presence of highly advanced healthcare infrastructure. Increasing instances of obesity, rising cancer cases, and a growing geriatric population are other factors that are increasing the medical waste in this region subsequently giving rise to effective waste management solutions.

Europe is also projected to hold a prominent market share in the global landscape. Increasing prevalence of chronic diseases, rising medical tourism, the presence of major pharmaceutical companies, and the growing focus on efficient waste management solutions are some of the major medical waste management market trends in Europe.

  • The North American medical waste management market size is anticipated to reach US$ 11.65 billion by 2034.
  • Western Europe is estimated to account for 22.8% of the global medical waste management market share in 2024.
Report Attributes Details
Medical Waste Management Market Size (2024E) US$ 17.16 Billion
Forecasted Market Value (2034F) US$ 29.01 Billion
Global Market Growth Rate (2024 to 2034) 5.4% CAGR
South Korea Market Value (2034F) US$ 1.15 Billion
On-Site Service Demand Growth Rate (2024 to 2034) 5.6% CAGR
Key Companies Profiled
  • US Ecology Inc.
  • BioMedical Waste Solutions LLC
  • BWS Incorporated
  • Alba Services GmbH & Co. KG
  • Stericycle
  • Clean Harbours Inc.
  • Waste Management Inc.
  • Republic Services Inc.
  • Veolia
  • Sharps Compliance Inc.
  • Daniels Health

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Why is There Increasing the Need for Advanced Medical Waste Management Systems?

“Medical Waste Management Solution Sales Driven By Rising Cases of Infectious Disorders”

Rising prevalence of chronic and infectious disorders and geriatric population who are more prone to various diseases are majorly contributing to medical waste. To mitigate these wastes the need for effective medical waste management systems is gaining momentum. Increasing awareness programs and strict regulations implemented by governments related to medical waste management are expected to boost the overall market growth.

“Integration of Advanced Technologies Increasing Efficiency of Medical Waste Management Solutions”

Radio-frequency identification and barcode tracking systems are some of the latest advancements in the medical waste management market. These technologies are aiding in real-time monitoring and tracking of medical waste containers, which further aids in accountability and transparency of medical waste dispose process. Integration of artificial intelligence and machine learning are aiding in data-driven decision making. Providers are further utilizing predictive analytics to estimate waste generation pattern, collection schedules, and mitigate cost.

What Could Hamper the Profits of Medical Waste Management Solution Providers?

“Lack of Awareness Regarding Hazards of Improper Infectious Waste Management”

While most of the hospital waste disposal is for non-infectious waste, there is a substantial amount of infectious waste as well which needs to be managed crucially to avoid environmental and health hazards. In some of the healthcare institutions to cut costs and save time infectious waste is coupled with non-infectious waste and disposed of which has serious implications on health and the environment alike.

This is mostly due to a lack of awareness of these hazards. Medical waste management service providers and respective governments in their particular jurisdictions are coming up with initiatives to create awareness for effective infectious waste management to mitigate this issue.

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Which Strategic Approaches Start-ups Taking to Bolster Their Market Stance?

“Introduction of Innovative Solutions to Attract Attention of Large Consumer Base”

To earn higher profits and achieve a competitive edge, new companies in the medical waste management industry should invest in research and development efforts. By doing so they would be able to offer innovative solutions to end users and attract a wider consumer base. Some of the new companies are offering smart mobile apps and portals that provide real-time information about medical waste management to healthcare facilities.

Country-wise Analysis

North America and Europe are profitable markets for medical waste management service providers. Demand for medical waste management solutions in North America is forecasted to evolve at a CAGR of 6.8% from 2024 to 2034.

How is Chemotherapeutic Waste Driving United States Market Growth?

“Rising Incidence of Cancer Boosting Demand for Chemotherapeutic Waste Management Solutions”

Attribute United States
Market Value (2024E) US$ 5.27 Billion
Growth Rate (2024 to 2034) 6.5% CAGR
Projected Value (2034F) US$ 9.87 Billion

The United States is recording an increase in the number of cancer cases, and this growth does not seem to be slowing down. This is further increasing huge demand for chemotherapy cancer treatment, and the waste generated by this treatment is also expected to see substantial rise. Hence, demand for chemotherapeutic waste management is expected to be prominent in the country.

Genotoxic waste management and pharmaceutical waste management are also expected to be areas of interest for medical waste management service providers as the country is witnessing high pharmaceutical and biotechnology activities.

Why is Demand for Medical Waste Disposal Systems High in Germany?

“Increasing Visits of Patients from Other Countries Driving Need for Advanced Waste Management Technologies”

Deployment of smart waste management solutions and growing use of disposable medical devices is driving the market growth in Germany. Rising medical tourism and presence of advanced healthcare infrastructure is expected to generate profitable opportunities for medical waste management service providers.

What is the Sales Outlook for Medical Waste Management Solutions in South Korea?

“Rising Healthcare Expenditure Generating Opportunities for Waste Management System Providers”

Attribute South Korea
Market Value (2024E) US$ 650.5 Million
Growth Rate (2024 to 2034) 5.9% CAGR
Projected Value (2034F) US$ 1.15 Billion

South Korea is one of the fastest growing markets in the Asia Pacific region. Rising demand for healthcare goods, increasing geriatric population, and growing healthcare expenditure are some of the factors driving sales of medical waste management solutions in South Korea. The sustainability trend is further driving the demand for eco-friendly disposal systems in the country.

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Competitive landscape highlights only certain players
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Category-wise Analysis

Off-site medical waste management accounts for 67.3% of the global market share in 2024. Discardation of medicate waste within the healthcare premises is quite challenging and may give rise to various infectious diseases, so to mitigate these waste off-site services are widely opted by healthcare providers.

What is Driving Demand for Off-site Medical Waste Management Services?

“Increasing Outsourcing of Waste Management to Boost Demand for Off-site Services”

Attribute Off-site Services
Segment Value (2024E) US$ 11.55 Billion
Growth Rate (2024 to 2034) 5.3% CAGR
Projected Value (2034F) US$ 19.33 Billion

On-site hospital waste disposal comes with multiple challenges associated with it and also incurs additional costs for medical facilities which could be cut down to some extent by outsourcing this to a third party. Increasing popularity of outsourcing of services in the healthcare industry is expected to boost demand for off-site services.

These services are expected to be deployed especially for radioactive waste management and infectious waste management as the on-site nature of these would be a potentially high risk to healthcare professionals as well as patients in the vicinity.

Which Type of Waste Demands Effective Disposable Solutions?

“Non-infectious Waste Majorly Produced in Healthcare Facilities”

Attribute Non-Infectious Waste
Segment Value (2024E) US$ 4.60 Billion
Growth Rate (2024 to 2034) 4.2% CAGR
Projected Value (2034F) US$ 6.98 Billion

Hospitals and other medical institutions produce multiple types waste of which are coarsely bifurcated into infectious and non-infectious. Non-infectious waste is more in volume and services and for this waste management services are highly needed.

  • The non-infectious waste management is estimated to account for 26.8% of the global market share in 2024.

However, demand for infectious waste management is also expected to rise as there is an increase in this waste owing to the rising prevalence of chronic and infectious diseases.

Competitive Landscape

Key players in the medical waste management market are investing in the expansion of their services by focusing on mergers and acquisitions that are set to aid them in strengthening their market presence across the world.

  • In 2021, Curtis Bay Medical Waste Services, a leading waste management organization based in Maryland, United States, was acquired by Aurora Capital Partners. This acquisition was aimed at bolstering the market presence of the firm in the global landscape.

Key Segments of Medical Waste Management Market Research

  • By Nature of Waste :

    • Non-Hazardous
    • Hazardous
  • By Waste Type :

    • Sharps
    • Infectious & Pathological Waste
    • Radioactive Waste
    • Pharmaceutical Waste
    • Non-infectious Waste
  • By Waste Generator Type :

    • Hospitals
    • Pharmaceutical & Biotechnology Companies
    • Clinics & Physician’s Offices
    • Retail Pharmacies
    • Ambulatory Surgical Centers & Long Term Care Centers
    • Laboratories
    • Academic & Research Institutes
    • Blood Banks
    • Others
  • By Service Type :

    • On-Site Services
    • Off-Site Services
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

How big is the medical waste management market?

The global medical waste management market is approximated at US$ 17.16 billion in 2024.

What is the projected medical waste management market size for 2034?

Revenue from medical waste management technologies is forecasted to reach US$ 29.01 billion by 2034.

What is the future of the medical waste management solutions?

The medical waste management market is foreseen to register 5.4% of CAGR through 2034.

Which East Asian country is witnessing increasing demand for medical waste management solutions?

Sales of medical waste management technologies in South Korea are expected to rise at a CAGR of 5.9% from 2024 to 2034.

What are the four major types of medical waste?

Sharps, infectious, radioactive, and hazardous are leading medical waste types.

Who are leading providers of medical waste management solution?

Some of the leading companies include Veolia, US Ecology Inc., and BioMedical Waste Solutions LLC.

- Also of Interest -

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