Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "Medical Waste Management Market: Industry Trends and Global Forecasts, till 2035 - Distribution by Type of Service Offered, Type of Waste, Treatment Site, Treatment Method, Category of Waste and Key Geographical Regions" report has been added to ResearchAndMarkets.com's offering.
The global medical waste management market is estimated to be worth $5 billion in 2024 and is likely to be $19.4 billion by 2035, representing a CAGR of 13% during the forecast period 2024-2035.
The growth in the opportunity for service providers over the next decade is likely to be the result of the anticipated rise in the demand for medical waste management. According to the World Health Organization (WHO), around 15 to 20% of the total amount of medical waste generated is considered hazardous, infectious or radioactive. It is worth mentioning that with the surge in global population, evolution of medical science and technology, emergence of novel infectious diseases, and rise in the number of hospitals and healthcare facilities, more than 6 million tonnes of healthcare waste is generated in the US alone. In fact, the total amount of medical waste produced globally is expected to increase by 2-3% each year.
Healthcare waste contain harmful microorganisms, which can infect patients, health workers and general public, and pollute the environment. As a result, an increasing number of medical waste generators, such as hospitals, clinics / labs and pharmaceutical companies are relying on the medical waste management service providers that are well-equipped with advanced technologies and have the required expertise for disposal of waste. These service providers offer end-to-end solutions from pick-up to final disposal of hazardous and bio-hazardous waste materials by complying to the safety standards set forth by government regulatory bodies (such as US Environmental Protection Agency (US EPA), Occupational Safety and Health Administration (OSHO) and European Environment Agency (EEA)).
Medical waste management companies provide several advantages, including increasing human safety (waste handlers, scavengers, and people living near hospitals), shortening waste management timelines and reducing high costs associated with the waste treatment and disposal. Thus, with the adoption of sustainable medical waste segregation, collection, safe storage, transportation and disposal practices offered by the medical waste management firms, the increased incidence rates of HIV/AIDS, sepsis, hepatitis and other illnesses are likely to reduce considerably.
In addition, medical waste management can mitigate the risk of environmental damage. With outsourcing becoming increasingly accepted as a viable and beneficial business model within this field, the global medical waste management market is expected to witness remarkable growth during the forecast period, 2024-2035.
Medical Waste Management Market Key Insights
The market report features an extensive study of the current market landscape, market size and future opportunities within the domain of medical waste management, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry. Key takeaways of the medical waste management market research report are briefly discussed below.
Rising Prevalence of Infectious Diseases to Drive Medical Waste Management Market
Medical waste generation and accumulation is a crucial aspect, especially in the countries that are densely populated, and have poor hygiene, high resource constraints and limited access to the upgraded healthcare services. Moreover, the research associated with unidentified chronic or infectious diseases, along with diagnosis of these diseases for early detection, prevention, and treatment has also led to the increased production of medical waste. Hence, due to the aforementioned factors, the medical waste management disposal practices are being utilized extensively and the medical waste management market is expected to experience accelerated market growth.
Competitive Landscape of Medical Waste Management Companies
Presently, over 95 medical waste management firms claim to offer medical waste collection, segregation, storage services, transportation, treatment, recycling services and disposal services. It is interesting to note that the medical waste management market seems to be well-fragmented, featuring the presence of small, mid-sized, large, and very large companies. These firms possess the required expertise to offer waste management services across different healthcare verticals, including pharmaceutical companies, hospitals, clinics / labs and other verticals. Further, majority of these players are headquartered in North America (~65%), followed by Europe and Asia-Pacific. Additionally, it is important to highlight that, currently, over 95% of the companies are actively involved in providing management services for hazardous waste, followed by infectious waste.
Partnerships and Collaborations have Fueled the Market Growth
In recent years, several partnerships have been signed by industry stakeholders, in order to consolidate their presence in this field, and enhance their capabilities and service portfolio to provide innovative waste management solutions to various waste generators. Notably, most of the agreements signed in this domain were instances of acquisitions and service agreements. It is worth highlighting that over 70% of the partnerships have been inked for waste treatment purposes.
North America Emerged as the Hub of Medical Waste Management Services; Asia-Pacific to be the Fastest Growing Market
Presently, North America captures close to 70% of the overall medical waste management market share. In recent years, demand for medical waste management in the North America region has witnessed a tremendous increase owing to the government support, and increasing R&D expenditure and technological advancements (leading to better healthcare facilities and the higher number of surgical procedures, which in turn will result in generation of increased volume of medical waste). It is worth highlighting that, in the coming years, Asia-Pacific is likely to grow at a higher CAGR as compared to other regions.
Key Players in Medical Waste Management Market
Examples of key players in medical waste management industry include Averda, Clean Harbors, GreenTech Environ Management, Medicare, MedPro Disposal, REMONDIS Mendison, Stericycle, Triumvirate Environmental, Veolia Environmental Services and WM. This market report includes an easily searchable excel database of all the medical waste management companies.
Recent Developments in Medical Waste Management Market
Several recent developments have taken place in the field of medical wase management market, some of which have been outlined below. These developments, even if they took place post the release of the market report, substantiate the overall market trends that the analyst has outlined in the analysis.
- In September 2023, WM invested a sum of USD 30 million in order to expand its manufacturing capacity at its facility based in Ohio, US.
- In August 2023, University Medical Center Utrecht acquired sterilwave treatment solution from Bertin Medical Waste BianoGMP to strengthen its hospital waste management services.
- In August 2023, TBS Energi Utama acquired Asia Medical Enviro Services, a leading biohazardous and medical waste treatment company, to diversify its business portfolio beyond coal mining sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024 - 2035 |
| Estimated Market Value (USD) in 2024 | $5 Billion |
| Forecasted Market Value (USD) by 2035 | $19.4 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
Key Topics Covered:
1. PREFACE
2. RESEARCH METHODOLOGY
3. ECONOMIC AND OTHER PROJECT SPECIFIC CONSIDERATIONS
3.1. Chapter Overview
3.2. Market Dynamics
4. EXECUTIVE SUMMARY
5. INTRODUCTION
5.1. Chapter Overview
5.2. Overview of Medical Waste Management
5.3. Types of Medical Waste
5.3.1. Infectious Waste
5.3.2. Hazardous Waste
5.3.3. Non-hazardous Waste
5.3.4. Radioactive Waste
5.4. Medical Waste Generators
5.5. Steps Involved in Medical Waste Management
5.6. Methods of Treating Medical Waste
5.7. Future Perspectives
6. MARKET LANDSCAPE
6.1. Chapter Overview
6.2. Medical Waste Management: Overall Market Landscape
6.2.1. Analysis by Year of Establishment
6.2.2. Analysis by Company Size
6.2.3. Analysis by Location of Headquarters
6.2.4. Analysis by Type of Waste
6.2.5. Analysis by Type of Service Offered
6.2.6. Analysis by Treatment Method
6.2.7. Analysis by Treatment Site
6.2.8. Analysis by Waste Generators
7. COMPANY COMPETITIVENESS ANALYSIS
8. COMPANY PROFILES
8.1. Chapter Overview
8.2. Detailed Profiles of Leading Players based in North America
8.2.1. Clean Harbors
8.2.2. MedPro Disposal
8.2.3. Stericycle
8.2.4. Triumvirate Environmental
8.2.5. WM
8.3. Short Profiles of Other Prominent Players based in North America
8.3.1. Curtis Bay Medical Waste Services
8.3.2. Heritage Environmental Services
8.3.3. Triology MedWaste
8.4. Detailed Profiles of Leading Players based in Europe
8.4.1. REMONDIS Mendison
8.4.2. Veolia
8.5.. Short Profiles of Other Prominent Players based in Europe
8.5.1. Axil Integrated Service
8.5.2. Initial Medical
8.6. Detailed Profiles of Leading Players based in Asia-Pacific and Rest of World
8.6.1. Averda
8.6.2. GreeTech Environ Management
8.6.3. Medicare Environmental Management
8.7. Short Profiles of Other Prominent Players based in Asia-Pacific and Rest of World
8.7.1. Ace Waste
8.7.2. Cleanaway Waste Management
8.7.3. E-Coli Waste Management
9. RECENT DEVELOPMENTS AND INITIATIVES
9.1. Chapter Overview
9.2. Partnerships and Collaborations
9.3. Recent Expansions
10. MARKET IMPACT ANALYSIS: DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
11. REGIONAL ASSESSMENT OF MEDICAL WASTE MANAGEMENT
12. GLOBAL MEDICAL WASTE MANAGEMENT MARKET
13. MEDICAL WASTE MANAGEMENT MARKET, BY TYPE OF SERVICE OFFERED
14. MEDICAL WASTE MANAGEMENT MARKET, BY TYPE OF WASTE
15. MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT SITE
16. MEDICAL WASTE MANAGEMENT MARKET, BY TREATMENT METHOD
17. MEDICAL WASTE MANAGEMENT MARKET, BY CATEGORY OF WASTE
18. MEDICAL WASTE MANAGEMENT MARKET, BY KEY GEOGRAPHICAL
19. SURVEY ANALYSIS
20. CONCLUDING REMARKS
Companies Featured
- ACE WASTE
- ACTenviro
- AdvoWaste Medical Services
- All Care Waste Services
- All Medical Waste
- All Points Medical Waste
- Allied USA
- AMS Med Waste
- ATI
- Aurora Capital Partners
- Averda
- Axil Integrated Services
- Bertin Medical Waste
- Bio-MED
- Biomedical Waste Disposal
- Biomedical Waste Services (BWS)
- BioMedical Waste Solutions
- BioSecure Waste Solutions
- Celitron Medical Technologies
- Chemcept
- Clean Harbors
- Clean Management Environmental
- Cleanaway Waste Management
- Cleanco Waste Treatment
- Clym Environmental Services
- CSC Waste & Recycling
- Cyntox Biohazard Solutions
- D.C. United
- Daniels Health
- Doctors Without Borders
- E-Coli Waste Management
- Eco Medical Waste Disposal
- ECODAS
- EcoMed Services
- Ecowaste Solutions
- Envetec Sustainable Technologies
- EPCO
- Evreka
- Fresenius
- Gamma Waste Systems
- GIC Medical Disposal
- GIENT
- Go Green Soulutions
- GreenTech Environ Management
- GRP & Associates
- Heritage Environmental Services
- Inciner8
- Initial Medical
- JJ's Waste & Recycling
- Korian Cote Normande
- MCF Environmental Services
- Med-X Healthcare Solutions
- Medical Waste Disposal
- Medical Waste of America
- Medical Waste Pros
- Medical Waste Solutions
- Medicare
- Medigreen Waste Services
- MediWaste Disposal
- MedPro Disposal
- Medsharps
- MedWaste Management
- MedXwaste
- Molten Salt Technologies
- OnSite Waste Technologies
- Personnel Hygiene Services
- Polycarbin
- PureWay Compliance
- REMONDIS Mendison
- Republic Services
- Safedispose
- SafeGuard Waste Solutions
- Sanofi
- Sanpro Waste Disposal
- Seche Environment
- Sharps Medical Waste Services
- SimpleComply
- SSO Medical Waste Management
- Stericycle
- STERIGERMS
- Sterilis Solutions
- SteriMed Medical Waste Solutions
- Synergy Waste Management
- TerraCycle
- Tesalys
- Texas Medical Waste
- Texas Medical Waste Disposal
- The Centre Hospitalier Turenne
- Toxfree
- Tranbiz Waste Solution
- TriHaz Solutions
- Triology MedWaste
- Triumvirate Environmental
- UMC Utrecht
- University Medical Center Utrecht
- UPS Healthcare
- Veolia
- VERTISA
- Viradys Medical Waste Solutions
- Waihong Environmental Services
- Wanless Waste Management
- WasteMedX
- WASTiNNOVA
- Wekaya
- Westfall Tecnik
For more information about this report visit https://www.researchandmarkets.com/r/m9x0hz
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