Medical Waste Management Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights

Medical Waste Management Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type (Collection, Transportation and Storage, Treatment and Disposal, Recycling), Treatment Type (Incineration, Autoclaving, Chemical Treatment, Others), Treatment Site (Offsite, Onsite), and Geography

  • Report Code : TIPRE00005411
  • Category : Pharmaceuticals
  • Status : Data Released
  • No. of Pages : 150
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The medical waste management market was valued at US$  13.61 billion in 2023 and is expected to reach US$ 20.42 billion by 2031. The market is expected to register a CAGR of 5.20% in 2023–2031. Technological advancements such as sterilization, waste-to-energy methods, and an inclination towards environmental waste management solutions will likely remain key medical waste management market trends.

Medical Waste Management Market Analysis

The wastes produced at medical facility centers and life science processing businesses are called medical waste. Medical waste produced by healthcare operations includes soiled dressings, blood, chemicals, body parts, medical equipment, and diagnostic samples, among other things. Medical waste management controls these medical wastes' production, handling, treatment, and disposal. The rising amount of medical waste, the initiatives implemented to manage it, and the rising number of patient admissions worldwide all contribute to the global medical waste management market growth.

Medical Waste Management Market Overview

An integral component of health care is waste management. Healthcare personnel, waste handlers, and the general public are all at risk for infections, harmful effects, injuries, and environmental pollution when medical waste is not managed correctly. In 2014, the World Health Organization created safe management of wastes from healthcare activities, the first worldwide and comprehensive guidance document. Aspects like the legal framework, planning concerns, recycling and waste minimization, handling, storage, transportation, treatment and disposal options, and training are all covered in the guide.

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Medical Waste Management Market: Strategic Insights

Medical Waste Management Market

  • CAGR (2023 - 2031)
  • Market Size 2023
    US$ 13.61 Billion
  • Market Size 2031
    US$ 20.42 Billion

Market Dynamics

  • Significant Infrastructure and Operations
  • Research and Partnerships to Improve the Waste Management
  • Technological advancements such as sterilization, waste-to-energy methods, and an inclination towards environmental waste management solutions

Key Players

  • Medasend Biomedical, Inc.
  • Bondtech Corporation
  • Sharps Compliance, Inc.
  • Veolia
  • Clean Harbors, Inc.
  • Daniels Sharpsmart, Inc.
  • Stericycle REMONDIS SE & Co. KG
  • Republic Services, Inc.
  • Waste Management, Inc.
  • BioMedical Waste Solutions

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Service Type
  • Collection
  • Transportation and Storage
  • Treatment and Disposal
  • Recycling
Treatment Type
  • Incineration
  • Autoclaving
  • Chemical Treatment
  • Others
Treatment Site
  • Offsite
  • Onsite
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Medical Waste Management Market Drivers and Opportunities

Significant Infrastructure and Operations to Favor Market

A strong focus on more essential ways to anticipate and manage supply needs to enhance infrastructure will likely boost market growth. Clinical staff education programs on types of plastic waste and recycling and sorting procedures to maximize adherence to guidelines help to improve the operations. Develop pipelines to distribute unused medical supplies within local networks of institutions to reduce waste and financial spending. This, in turn, propels the market's expansion. For instance, in July 2022, the United Nations Development Programme (UNDP) in Iraq and the Ministry of Health (MoH) signed a US$ 25 million deal to improve medical waste management in the nation.

Research and Partnerships – An Opportunity in the Medical Waste Management Market

Increasing the funding for safe and recyclable medical plastic design, economical manufacturing of bioplastics and other alternatives to single-use plastics, as well as investments in regional infrastructures for the reprocessing of medical supplies and the creation of more value-added goods while preventing shortages across the entire system is likely to create significant opportunities for market growth. For instance, in April 2021, leading middle-market private equity firm Aurora Capital Partners announced that it had acquired Curtis Bay Medical Waste Services from Summer Street Capital Partners. Curtis Bay Medical Waste Services is a leader in medical waste collection, treatment, and disposal services.

Medical Waste Management Market Report Segmentation Analysis

Key segments contributing to the medical waste management market analysis derivation are service type, treatment type, treatment site, and geography.

  • Based on service type, the medical waste management market is segmented into collection, transportation and storage, treatment and disposal, recycling. The treatment and disposal segment held a larger market share in 2023.
  • Based on treatment type, the market is segmented into incineration, autoclaving, chemical treatment, and others. The incineration segment held a larger market share in 2023.
  • Based on the treatment site, the medical waste management market is bifurcated into offsite, and onsite. The offsite segment accounted for a significant market share in 2023

Medical Waste Management Market Share Analysis by Geography

The medical waste management market report's geographic scope is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America has dominated the medical waste management market. In North America, the U.S. is the largest market for medical waste management in 2023.  The presence of key players with significant investments in organic and inorganic strategies is anticipated to drive market growth in the region. For instance, in January 2024, the installation of GENERATIONS was announced by Northwell Health, the primary health care provider in New York State, and Envetec Sustainable Technologies Limited, a cutting-edge cleantech company committed to eliminating the present unsustainable practices of treating regulated medical waste. This innovative technology is intended for the secure and efficient on-site handling of controlled medical waste, such as single-use plastic laboratoryware, glass, protective personal equipment, and sharps containers.

Medical Waste Management Market Report Scope

Report Attribute Details
Market size in 2023 US$ 13.61 Billion
Market Size by 2031 US$ 20.42 Billion
Global CAGR (2023 - 2031) 5.20%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Service Type
  • Collection
  • Transportation and Storage
  • Treatment and Disposal
  • Recycling
By Treatment Type
  • Incineration
  • Autoclaving
  • Chemical Treatment
  • Others
By Treatment Site
  • Offsite
  • Onsite
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Medasend Biomedical, Inc.
  • Bondtech Corporation
  • Sharps Compliance, Inc.
  • Veolia
  • Clean Harbors, Inc.
  • Daniels Sharpsmart, Inc.
  • Stericycle REMONDIS SE & Co. KG
  • Republic Services, Inc.
  • Waste Management, Inc.
  • BioMedical Waste Solutions
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Medical Waste Management Market News and Recent Developments

    The medical waste management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical waste management and strategies:

    • Brightmark, a global waste solutions provider, and Jamar Health Products, a Wisconsin-based health care product manufacturer, today announced a strategic partnership to recycle plastic medical waste. Brightmark provides a sustainable and circular solution for recycling and converting Jamar’s proprietary plastic PATRAN slide sheets into low-carbon fuels and the building blocks for circular plastics. (Source: Brightmark Company Name, Newsletter, 2022)

    Medical Waste Management Market Report Coverage and Deliverables

    The “Medical Waste Management Market Size and Forecast (2021–2030)” report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Service Type ; Treatment Type ; Treatment Site , and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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