Global Medical Waste Management Market is projected to see a growth rate of 5 to 6% by 2027 - Daniels Health, EcoMed Services, Remondis Medison, Stericycle, Suez Group, Veolia

Medical waste disposal can be defined as the subset of waste produced by hospitals, clinics, dentists, mortuaries, nursing homes, blood banks, veterinary clinics, medical research facilities, and laboratories. The medical waste is disposed of by many waste disposal methods such as incineration, autoclaving, chemical treatment, among others.

The two major types of waste are segmented as follows:-
a) Hazardous Waste: Hazardous waste has properties which can have a dangerous effect on human health and for the environment. It is derived from an infectious, pathological, sharp, chemical, pharmaceutical, cytotoxic or radioactive sources.
b) Non-hazardous Waste: Non-hazardous waste do not cause any harm for humans and for the environment, and less strict regulations are for the disposal of non-hazardous waste.

Major examples of non-hazardous medical waste are plastic packaging, clean glass and plastic, paper and cardboard, and office products. It makes up to approximately 85% of all medical waste, and ~15% of it is hazardous.

WHO forecasts that in developed countries for every occupied hospital bed, 0.5kg of hazardous medical waste is generated, whereas in developing countries this number is closer to 0.2kg. Proper waste disposal is essential to decrease the major environmental risks, protect the health of the staff and prevent further waste contamination.

An Increasing Volume of Hazardous Medical Waste to Trigger the Growth of the Medical Waste Management Market

Growing human population and healthcare segment, majorly in developing countries, is fueling the growth of the global medical waste management market. Increased life spans of individuals and the world population is aging - thus increasing the morbidity rate and hence, the amount of medical waste produced.

Other major growth factors are listed below:
• Rising application of disposables - Hospitals are majorly using disposables - common items such as catheters and scalpels are disposed of as opposed to other disposal methods such as autoclaving or UV treating them.
• Prions display the highest level of resistance for disinfection or sterilization. Reusable medical devices are majorly prone to become contaminated with prions. Further concerns on the growth of antibiotic-resistant bacteria are further triggering the shift for using disposables.
• Growing applications of a broad range of radionuclides in medicine and medical research has triggered the volume of biomedical radioactive waste produced.
• Another key driver for the quick surge in the production of hazardous waste is improper waste management in developing countries. Improper waste disposal causes hazardous waste to be mixed with general waste, thus making the general waste even more dangerous and hazardous.

Fueled by Covid-19 Pandemic, Strong Focus on the Proper Disposal of Medical Waste is Poised to Lead the Growth of the Global Medical Waste Management Market

Covid-19 pandemic had brought into the focus the demand for an effective and a safe medical waste management, thus placing plans for it on the top of the agenda of many governments. Waste produced during Covid-19 pandemic in many regions had exceeded the capabilities of waste management available during that time.

During Covid-19 pandemic, in Hubei Province, China had witnessed a medical waste generation rate of 0.5kg/bed/day in many hospitals, which had led to rapid investments in rising capacity and emergency solutions for proper waste disposal.
The major focus on the safe processing of waste has brought legislation norms on the safe disposal of waste from governments across the world, thus needing an effective medical waste disposal.

North America Accounts for the Largest Market Share in the Medical Waste Management Market while China is Growing Significantly as Leading Healthcare Companies are Planning to Adopt with the Chinese Regulations

United States has a fully-developed healthcare market but there are a strict set of regulatory guidelines which healthcare providers and waste disposal companies have to follow. The disposal of medical waste is overseen by many government bodies including the EPA, OSHA, and individual State Departments for Environmental Protection. The EPA had issued regulations on the emissions produced by medical waste incineration, and other methods of medical waste disposal such as microwave, chemical and electro pyrolysis disposal are driving the demand for these services.

Competitive Landscape Analysis: Medical Waste Management Market

Some of the top and established players operating in the global medical waste management market are Biomedical Waste Solutions, Clean Harbors, Inc., Daniels Health Inc., EcoMed Services, Remondis Medison, Republic Services, Stericycle, Suez Environmental Services, Veolia Environmental Services etc.

The global medical waste management market is less fragmented, with some of the top market players accounting for a larger market share in developed countries. However, shortage of standardized regulations for proper medical waste management and less awareness on medical waste management in developing regions are some of the major factors which can impact the growth of the medical waste management market.

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Ruta Halde
Associate, Medi-Tech Insights
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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.