Medical Waste Management Market

Medical Waste Management Market by Types of Wastes (Hazardous Wastes and Non-hazardous Wastes), Treatments (Autoclaving, Chemical Treatments, Incineration, and Others), Services (Treatment and Disposal, Collection, Transportation & Storage, Recycling, and Others), Treatment Sites (Onsite Treatments and Offsite Treatments), Sources of Generation (Laboratories and Research Centers, Hospitals, Nursing Homes), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1167
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 176
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The global medical waste management market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing amounts of biomedical waste.
 

Medical Waste Management Market key Takeaways


Medical waste is trash generated by healthcare facilities such as hospitals, doctor's offices, dental practices, medical research facilities, laboratories, and veterinary clinics that include hazardous substances. Medical waste can consist of bodily fluids, such as blood, as well as other pollutants. The Medical Waste Tracking Act of 1988 describes it as waste produced while human or animal clinical treatment, diagnostics, testing, immunization, or treatments. Culture dishes, bandages, gloves, glassware, discarded sharps such as needles or scalpels, tissue, and swabs are just a few instances.

Medical waste management systems have played a critical role in keeping harmful substances from entering land and water. Medical waste management systems use environmentally friendly treatment processes to deal with waste appropriately. The treatments are environmentally friendly, emitting no hazardous emissions, gases, or fumes, allowing trash to be reused into resources.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising concern about using environmentally friendly and safe waste management and treatment is anticipated to propel the market growth in the coming years.
  • Increasing healthcare waste creation, combined with increased government programs is a major factor spurring the market expansion during the forecast period.
  • Rising in the healthcare sector, as well as an increase in the number of patients who require long-term surgical and medical assistance is estimated to boost the market growth in the coming years.
  • Lack of consciousness about the health risks related to medical waste act as a key factor that can impede the market growth.
  • Lack of training for effective disposal combined with insufficient money is projected to restrict the market expansion.
  • Increasing number of medical waste management awareness programs are expected to create lucrative opportunities for the market players.

Scope of the Report

The report on the global medical waste management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Medical Waste Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types of Wastes (Hazardous Wastes and Non-hazardous Wastes), Treatments (Autoclaving, Chemical Treatments, Incineration, and Others), Services (Treatment and Disposal, Collection, Transportation & Storage, Recycling, and Others), Treatment Sites (Onsite Treatments and Offsite Treatments), Sources of Generation (Laboratories and Research Centers, Hospitals, Nursing Homes)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Waste Management, Inc.; Veolia Environnmental Services; US Ecology, Inc.; Suez Environmental Services; Stericycle, Inc.; Republic Services, Inc.; Daniels Sharpsmart Inc.; Clean Harbors, Inc.; and Biomedical Waste Solutions, LLC

 

Market Segment Insights

Non-hazardous wastes segment is projected to represent a major market share
Based on types of wastes, the global medical waste management market is bifurcated into hazardous wastes and non-hazardous wastes. The non-hazardous wastes segment is expected to hold a key share of the market in the coming years due to the result of the COVID-19 outbreak, hospitals are producing more non-hazardous medical waste, including disposable wipes and unfilled disinfection containers, propelling the medical waste management industry forward. Furthermore, federal agencies including the Drug Enforcement Administration (DEA) and Occupational Safety and Health Administration (OSHA) have specific disposal standards for COVID-19 medical waste. These regulations ease and simplify the medical waste management system, resulting in increased acceptance of medical waste management.

Incineration segment is expected to grow at a significant pace
On the basis of treatments, the market is segmented into autoclaving, chemical treatments, incineration, and others. The incineration segment is expected to account for a key share of the market during the forecast period owing to the most prevalent and favored option for disposing of medical waste, which is hazardous to the environment since it contributes to global warming. Owing to increasing global warming, the Environmental Protection Agency has set strict rules on incineration, resulting in a reduction in the emission of dangerous gases that contribute to global warming. Moreover, the medical waste management market is expected to rise due to technological advances and a rise in the production of surplus medical waste around the world.

Collection, transportation & storage segment is anticipated to register at a rapid CAGR
In terms of services, the global medical waste management market is segregated into treatment and disposal, collection, transportation & storage, recycling, and others. The collection, transportation & storage segment is expected to constitute a key share of the market in the coming years due to the existence of strict guidelines for the collection, transportation & storage of medical waste.
 

Medical Waste Management Market by Services


Offsite treatments segment is projected to constitute a large market share
Based on treatment sites, the market is bifurcated into onsite treatments and offsite treatments. The offsite treatments segment is expected to represent a key share of the market during the forecast period due to the maximum of the waste disposal treatments are accomplished offsite, though, to save price and holding period, onsite treatment sites are anticipated to produce in the coming years.

Hospital’s segment is expected to expand at a robust pace
On the basis of sources of generation, the global medical waste management market is divided into laboratories and research centers, hospitals, nursing homes. The hospital’s segment is expected to hold a key share of the market in the coming years owing to the large number of procedures conducted in hospitals, it is the largest generator of medical waste. Moreover, the bulk of syringes and needles are used in hospitals, increasing biomedical waste generation.

Furthermore, owing to the COVID-19 epidemic, hospitals are expected to generate more medical wastes than usual. The increased generation of medical waste caused by the coronavirus can increase hazardous waste volume. Healthcare workers are expected to become infected due to their exposure to toxic medical waste.

North America is anticipated to dominate the market
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at a healthy CAGR during the forecast period. In the region, the US dominated the market share market growth can be attributed to the extreme better evolved healthcare sector, as well as the increased frequency of chronic and infectious diseases that necessitate improved surgical and medical equipment, and the treatments for these diseases, a considerable percentage of end-products and residues, are produced. Many hospitals in the United States have begun reusing single-use items, which are then later sold to the hospitals at a reduced price.

However, Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to increased public consciousness and the creation of severe rules for the correct disposal of medical wastes and end-products.
 

Medical Waste Management Market by Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Medical Waste Management Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Medical Waste Management Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Medical Waste Management Market - Supply Chain
  4.5. Global Medical Waste Management Market Forecast
     4.5.1. Medical Waste Management Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Medical Waste Management Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Medical Waste Management Market Absolute $ Opportunity
5. Global Medical Waste Management Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Medical Waste Management Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Medical Waste Management Demand Share Forecast, 2019-2026
6. North America Medical Waste Management Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Medical Waste Management Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Medical Waste Management Demand Share Forecast, 2019-2026
7. Latin America Medical Waste Management Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Medical Waste Management Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Medical Waste Management Demand Share Forecast, 2019-2026
8. Europe Medical Waste Management Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Medical Waste Management Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Medical Waste Management Demand Share Forecast, 2019-2026
9. Asia Pacific Medical Waste Management Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Medical Waste Management Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Medical Waste Management Demand Share Forecast, 2019-2026
10. Middle East & Africa Medical Waste Management Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Medical Waste Management Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Medical Waste Management Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Medical Waste Management Market: Market Share Analysis
  11.2. Medical Waste Management Distributors and Customers
  11.3. Medical Waste Management Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Waste Management, Inc.
     11.4.2. Veolia Environnmental Services
     11.4.3. US Ecology, Inc.
     11.4.4. Suez Environmental Services
     11.4.5. Stericycle, Inc.

Segments Covered in the Report
The global medical waste management market has been segmented based on

Types of Wastes

  • Hazardous Wastes
  • Non-hazardous Wastes

Treatments

  • Autoclaving
  • Chemical Treatments
  • Incineration
  • Others

Services

  • Treatment and Disposal
  • Collection, Transportation & Storage
  • Recycling
  • Others

Treatment Sites

  • Onsite Treatments
  • Offsite Treatments

Sources of Generation

  • Laboratories and Research Centers
  • Hospitals
  • Nursing Homes

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Waste Management, Inc.
  • Veolia Environnmental Services
  • US Ecology, Inc.
  • Suez Environmental Services
  • Stericycle, Inc.
  • Republic Services, Inc.
  • Daniels Sharpsmart Inc.
  • Clean Harbors, Inc.
  • Biomedical Waste Solutions, LLC

Key players competing in the global medical waste management market are Waste Management, Inc.; Veolia Environnmental Services; US Ecology, Inc.; Suez Environmental Services; Stericycle, Inc.; Republic Services, Inc.; Daniels Sharpsmart Inc.; Clean Harbors, Inc.; and Biomedical Waste Solutions, LLC. Some of these players are adopting several business strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
 

Medical Waste Management Market by Key Players

 

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