Medical Waste Management Market Size, Share, and Trends 2024 to 2034

Medical Waste Management Market Size and Growth

The global medical waste management market size was valued at USD 12.23 billion in 2023 and is projected to surpass USD 24.51 billion by the end of 2033, exhibiting a CAGR of 7.2% during the estimated period 2024 to 2033.

Medical Waste Management Market Key Takeaways:

• North America held a market share of 31.14% in 2023.
• The non-hazardous waste segment reached USD 8 billion in 2023.
• The treatment and disposable services segment accounted for a 30% market share in 2023.
• The hospital's waste generation segment garnered a 33% market share in 2023.

Medical Waste Management Market Size in the U.S. 2024 to 2033

The U.S. medical waste management market size was estimated at USD 2.67 billion in 2023 and is predicted to be worth around USD 5.70 billion by 2033, at a CAGR of 7.9% from 2024 to 2033.

The detailed research report covers significant prospects and inclinations of medical waste management products throughout different regions including Europe, North America, Asia-Pacific, Africa, the Middle East, and Latin America. By region, the medical waste management market is led by North America due to the high incidence of cancer and early implementation of the latest medical waste management techniques. Europe reported the second maximum share predominantly due to the high geriatric population and positive reimbursement scenario. Asia-Pacific is also anticipated to witness a rapid growth rate, on account of increasing investment by major manufacturers and increasing per capita healthcare expenditure.

Medical Waste Management Market Size in Europe 2023 to 2033

The Europe medical waste management market size was calculated at USD 3.60 billion in 2023 and is projected to expand around USD 7.60 billion by 2033, poised to grow at a CAGR of 7.8% from 2024 to 2033.

Crucial factors accountable for market growth are:

• Exponentially increasing volume of medical waste
• Rising geriatric population
• Increasing prevalence of chronic disorders such as cardiovascular diseases and diabetes
• Growing obese population
• Increasing requirement for sustainable and effective medical waste management
• Increasing focus of governments all over the world to tackle the issue of medical waste management
• Increasing number of accidents
• Integration of latest technologies
• Growing investment by key manufacturers
• Increasing per capita healthcare expenditure

Major Trends in the Medical Waste Management Industry:

Medical wastes need careful containment and disposal before gathering and consolidation for handling. The measures for discarding controlled medical-waste substances are designed to shield the staffs who generate medical scrap and who tackle the wastes from generation point to disposal point. To avert injuries from needle sticks and other infected sharps should not be repeated, firmly bent, or cracked by hand. Centers for Disease Control and Prevention have broadcasted general rules for managing sharps. Healthcare amenities may need added precautions to avert the creation of aerosols during the management of blood-contaminated objects for some rare diseases or situations.

Storage and transportation of regulated medicinal wastes within the healthcare organization prior to termination of treatment are often essential. Healthcare organizations are instructed to clear out medical waste frequently to avoid buildup. Medical scrap requiring storing should be reserved in puncture-resistant, leak-proof, labeled containers under situations that lessen or avert foul smells. The storage area must be well-ventilated and be unreachable to pests. Every facility that produces regulated medical scrap should have a controlled medical waste management strategy to ensure well-being and environmental protection as per local guidelines.

Incineration of medical scrap has conventionally been the foremost medical waste managing technique globally. However, incineration results in the emission of numerous harmful fumes such as Sulphur dioxide, dioxins, and carbon monoxide which augment global warming. Thus, the development of other techniques is gaining popularity for sustainable medical waste management.

COVID-19 Impact on Global Medical Waste Management Market

The COVID-19 pandemic has resulted in an abrupt breakdown of waste management strings. Safe management of hazardous medicinal waste is critical to successfully limiting the pandemic. Mismanagement at any stage can lead to augmented environmental contamination. The world is anticipated to be loaded with medical waste material in the near future owing to the COVID-19 pandemic, and the consequences of this buildup of medical leftovers will have a deep impact on justifiable medical waste administration measures for years to come. To handle such a large worldwide influx of waste, the industry will have to respond by dispensing an increase in conservative management facility volumes and will require looking to fewer conventional portable units and RFID imprinting technology to guarantee sustainable healthcare waste administration.

Medical Waste Management Market Scope 

Treatment Insights

Incineration Segment Reported Foremost Market Stake in 2023

Incineration displayed the major share in the worldwide medical waste management market in 2023. Incineration is the lone method employed for pathological scrap such as identifiable tissue and body parts that augments the segmental share. The factors such as the generation of a high volume of medical waste due to the increasing prevalence of viral diseases and the low cost of incineration are expected to retain the dominance of incineration in the near future.

The chemical treatment segment is anticipated to grow at the maximum CAGR through the forecast time frame mainly due to high anticipated demand.

Waste Type Insights

Hazardous Waste Dominated the Market Revenue

Hazardous waste is generated in high volumes at hospitals and other healthcare facilities. Moreover, the implementation of stringent regulations for the safe disposal of hazardous waste by governments all over the world is expected to boost the demand for hazardous waste management in the near future.

Medical Waste Management Market Companies

• BioMedical Waste Solutions
• Stericycle Inc.
• Clean Harbors
• Citiwaste
• MedPro Waste Disposal
• Sanpro
• Waste Management, Inc.
• Sharps Compliance, Inc.

Major Market Segments Covered:

By Treatment

• Chemical Treatment
• Autoclaving
• Incineration
• Others

By Waste Type

• Hazardous
• Nonhazardous
  • Infectious & Pathological Waste
  • Pharmaceutical Waste
  • Sharp Waste
  • Other Medical Waste

By Waste Generator 

• Hospitals & Diagnostic Laboratories
• Other Waste Generators

By Treatment Site

• Offsite Treatment
• Onsite Treatment

By Geography     

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa