Medical Waste Management Market Worth $17.02 billion by 2030

[Redding, California - February 20, 2024] - Meticulous Research®, a premier global market research company, has recently released an in-depth research report titled 'Medical Waste Management Market by Waste Type (Non-Hazardous, Infectious, Sharps, Pharmaceutical), Service (Collection, Treatment & Disposal [Incineration, Autoclaving], Recycling), Treatment Site (Off-site, On-site), Source - Global Forecast to 2030'.

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This comprehensive publication by Meticulous Research® forecasts the global medical waste management market to achieve a valuation of $17.02 billion by 2030, reflecting a remarkable Compound Annual Growth Rate (CAGR) of 5.4% from 2023 to 2030. The growth trajectory is underpinned by factors such as the escalating global volume of medical waste, stringent regulations governing medical waste management, and the surge in surgical procedures. Furthermore, opportunities for market expansion arise from the increasing adoption of single-use devices and the flourishing economies worldwide. However, challenges persist with the absence of standardized regulations and a lack of awareness regarding medical waste management in developing nations.

The segmentation of the global medical waste management market includes waste type (non-hazardous waste, hazardous waste [infectious & pathological waste, pharmaceutical waste, sharps waste, and other hazardous waste]), services (collection, transportation, & storage, treatment & disposal services [incineration, autoclaving, chemical treatment, and other treatment & disposal services], and recycling), treatment site (off-site treatment, on-site treatment), source (hospitals & clinics, diagnostic laboratories, research laboratories, blood banks, and other sources), and geography. The report also offers a detailed analysis of regional and country-level markets.

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Highlights from the report:

Waste Type: The non-hazardous waste segment is anticipated to dominate the market in 2023, driven by the absence of biological, chemical, radioactive, or physical hazards. The segment's prominence is attributed to a plethora of healthcare facilities globally, an upsurge in surgical procedures, and governmental initiatives promoting proper medical waste management.

Services: In 2023, the collection, transportation, and storage segment are projected to command the largest market share. The high demand for these services arises from challenges faced by healthcare facilities in the proper transportation and packaging of both non-hazardous and hazardous medical waste.

Treatment Site: The off-site treatment segment is expected to capture the largest market share in 2023, owing to technological advancements in waste management and the benefits offered by off-site treatment, including a reduction in the volume and weight of medical waste.

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Source: Hospitals & clinics are poised to hold the largest market share in 2023, owing to the substantial volume of medical waste generated by these institutions and governmental initiatives promoting proper medical waste management for hospitals.

Geography: North America is forecasted to dominate the global medical waste management market in 2023. This dominance is attributed to the substantial volume of medical waste generated, high healthcare expenditures, and governmental initiatives aimed at raising awareness regarding proper medical waste disposal.

For a detailed and insightful exploration of the global medical waste management market, download the full research report in PDF format here.

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Key Players:
Prominent companies operating in the global medical waste management market include Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), and GIC Medical Disposal, Inc. (Canada).

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