Global Medical Waste Management Market Size to Reach USD 14.55 Billion in 2030 | Emergen Research

Increase in the volume of medical waste is a key factor driving the market revenue growth

Vancouver, Aug. 22, 2023 (GLOBE NEWSWIRE) — The global market for managing medical waste achieved a size of USD 9.16 Billion in 2021, and it is projected to maintain a revenue Compound Annual Growth Rate (CAGR) of 5.2% throughout the forecast period, as per the latest analysis conducted by Emergen Research. The escalation in the volume of medical waste is a key driver behind the growth in market revenue. The World Health Organization (WHO) has estimated that a significant portion, approximately 85%, of the waste produced within the healthcare sector is categorized as general and non-hazardous waste. The remaining 15% constitutes hazardous waste, which could potentially be infectious, radioactive, or pose chemical toxicity to the environment.

In tandem with this trend, the pharmaceutical industry is rapidly advancing its techniques in producing pharmaceuticals and medical equipment in groundbreaking ways. This progression is contributing to the expansion of the market. Additionally, the market’s growth is reflected in the streamlined provision of essential supplies required for the day-to-day functioning of hospitals, clinics, and diagnostic centers. Consequently, this increase in operational activities is leading to a higher generation of waste materials.

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The upward trajectory of technological advancements aimed at enhancing the treatment of medical waste stands as another pivotal factor propelling the growth of market revenue. An illustrative example is Envetec Sustainable Technologies Limited, which unveiled its innovative GENERATIONS technology in February 2022. This groundbreaking cleantech solution adeptly manages biohazardous waste and various materials like plastics, glass, personal protective equipment (PPE), sharps containers, and standard laboratory consumables right at the source. The Envetec GENERATIONS system employs a distinct biodegradable chemical process that operates without thermal methods. This results in the conversion of biohazardous waste into a confetti-like material, entirely safe for transportation, handling, and subsequent recycling due to its unique characteristics

However, a significant impediment to the growth of the medical waste management market is the absence of a well-structured framework and adequate awareness regarding proper waste management practices. The dearth of understanding concerning the potential hazards linked with medical waste, coupled with the insufficiency of comprehensive training initiatives for personnel, health authorities, and hospital leadership, often results in inadequate accountability for managing medical waste. Additionally, a concerning trend is the improper disposal of hazardous medical waste, which often gets mixed with regular waste and discarded in unsanitary municipal landfills. This unlawful mingling and misguided recycling of medical waste at final disposal sites raise alarming concerns about the degradation of the environment and the potential spread of hazardous diseases. Furthermore, the improper disposal of medical waste can lead to the release of harmful chemicals into the environment, posing risks to groundwater and drinking water quality.

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Scope of Research

Major Companies and Competitive Landscape

The global medical waste management market is consolidated, with many small and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, and introducing more effective treatment of medical waste. Some major players included in the global medical waste management market report are:

• Remondis Se & Co. KG
• BioMedical Waste Solutions, LLC
• Republic Services, Inc.
• Clean Harbors, Inc.
• Daniels Sharpsmart Inc.
• Stericycle, Inc.
• WM Intellectual Property Holdings, LLC
• Suez Group
• BWS Incorporated
• Gamma Waste Services

Strategic Development

• In April 2022, Stericycle, Inc., a leading provider of medical waste management, secure data destruction, and patient engagement solutions, announced the release of its new SafeShield antimicrobial medical waste containers, a line of high-quality, standardized containers designed specifically for the storage and transport of Regulated Medical Waste (RMW). This new container line provides customers with a better design, more storage options, and an added level of protection to help combat microbial growth on RMW containers. Stericycle has begun rolling out the containers in certain locations of the United States, with a phased countrywide rollout planned.
• In May 2021, UPS Healthcare has formed an ongoing agreement with Stericycle to manage medical waste reverse logistics, including trash categorization and disposal. UPS and Stericycle will offer healthcare with end-to-end logistical assistance. UPS will not only transport crucial healthcare goods to companies and customers across the United States but will also collaborate with Stericycle to sustainably handle medical waste disposal.

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Some Key Highlights From the Report

• The non-hazardous waste segment accounted for a significant revenue share in 2021. Non-hazardous waste constitutes paper, clips, scissors, glass, plastics, etc. They are not harmful to human beings, plants, and animals. These wastes can be either incinerated or autoclaved. Autoclaving is a superior method in terms of non-hazardous waste as they need to be sterilized before disposal.
• The incineration segment accounted for a significant revenue share in 2021. Incineration is a thermal procedure that converts medical wastes into inorganic, incombustible substances, resulting in considerable waste volume and weight reduction. The primary goal of any medical waste incinerator is to remove germs from trash and convert it to ashes. Certain medical wastes, such as pharmaceutical or chemical wastes, require greater temperatures to be destroyed. Mobile incinerators have gained popularity in the developing world in recent years because they allow for on-site trash treatment at hospitals and clinics, eliminating the need to carry infectious garbage across the city.
• Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth. In addition, the increasingly high incidence of chronic disease is contributing to the market revenue growth in this region. In addition, the presence of key players is also driving revenue growth of the market. For instance, on October 2020, WM Intellectual Property Holdings, L.L.C. announced the completion of its acquisition of all outstanding Advanced Disposal shares. This acquisition expands Waste Management’s footprint and enables the company to provide unparalleled access to differentiated, sustainable waste management and recycling services to approximately 3 million new commercial, industrial, and residential customers, primarily in 16 states in the United States eastern half.
• On August 2022, Brightmark, a global waste solutions company, and Jamar Health Products, a health care device manufacturer located in Wisconsin, established a strategic agreement to recycle plastic medical waste. Brightmark offers a sustainable and circular solution for recycling and transforming Jamar’s unique plastic PATRAN slide sheets into low-carbon fuels and circular plastic building blocks.

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Emergen Research has segmented the global medical waste management market on the basis of type of waste, treatment, treatment site, service, and region:

• Type of Waste Outlook (Revenue, USD Billion; 2019-2030)

• • Hazardous Waste
  • Non-Hazardous Waste

• Treatment Cycle Outlook (Revenue, USD Billion; 2019-2030)

• • Incineration
  • Autoclaving
  • Chemical Treatment
  • Others

• Treatment Site Cycle Outlook (Revenue, USD Billion; 2019-2030)

• • On Site
  • Off Site

• Service Outlook (Revenue, USD Billion; 2019-2030)

• • Collection, Transportation, and Storage
  • Treatment and Disposal
  • Recycling
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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