According to the report "Medical Waste Management Marketis projected to reach USD 12.6 billion by 2027 from USD 9.6 billion in 2022, at a CAGR of 5.6% during the forecast period. Growth in the medical waste management market is mainly driven by factors such as the increase in acquisitions by leading players in the market and increasing focus on technological advancements for medical waste management services. However, high capital investment is the major factors hampering the growth of this market.

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Growing preference disease and health conditions that affects other health healing capabilities, increasing prevalence of obesity and disease associated to it are among the other factors. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the medical waste management market.

Key Market Players

The major players operating in this market are Stericycle (US), Veolia Environnement S.A. (France), Sharps Compliance, Inc. (US), Waste Management, Inc. (US), Clean Harbors, Inc. (US), REMONDIS SE & CO. KG. (Germany), BioMedical Waste Solutions LLC (US), Daniel Sharpsmart, Inc. (Australia), Republic Services, Inc. (US), EcoMed Services (US), GRP & Associates, Inc. (US), BWS, Inc. (US), MedPro Disposal (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental, Inc. (US), EPCO (Saudi Arabia), All Medical Waste Australia PTY. LTD. (Australia), Casella Waste Systems (US), Pro-Disposal (Georgia), SSO Medical Waste Management (US), SafeGuard Waste Solutions (US), MedWaste Industries, Inc. (US), Dulsco (Dubai).

In 2021, Republic Services, Inc. (US) held the leading position in the medical waste management market. The company has maintained a leading position in the market through its strong presence across North America. The company adopts inorganic growth strategies to increase its dominance in this market.

In 2021, Veolia Environnement S.A. (France) held the second position in the medical waste management market. It has a wide geographic presence that spans North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa, with a strong network. To sustain its leading position in the market, the company pursues organic and inorganic growth strategies.

Waste Management, Inc. held the leading position in the medical waste management market in 2021. Its leading position in this market can be attributed to its strong network in North America, enabling it to market its services effectively.

Driver: increasing volume of healthcare waste

The healthcare industry has shown significant growth in medical waste management, which drives the market. An increase in demand for healthcare services across the globe has resulted in increased hospitals, laboratories, research centers, mortuaries, autopsy centers, blood banks, and collection activities, which have increased the demand for medical waste management.

Opportunity: increasing number of awareness programmes for medical waste management in developed countries

In developed countries such as the United States and the United Kingdom, there is an increase in initiatives such as awareness programmes and conferences aimed at raising awareness of proper medical waste management and preventing medical waste mishandling.

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The hospital & diagnostic laboratories accounted for the largest share of the medical waste management market, by waste generator segment.

Based on waste generator, the medical waste management market has been segmented into hospital & diagnostic laboratories and other waste generators. The hospital & diagnostic laboratories segment accounted for the largest share of the medical waste management market, mainly due to the Increasing number of awareness programs for medical waste management in developed countries.

North America is the largest regional market for medical waste management market

The global medical waste management market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for medical waste management market. The large share of North America in this market can be attributed to the rising focus on appropriate waste management and focus on providing healthcare facilities for health conditions like diabetes.

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Recent Developments:

  • In February 2022, Republic Services, Inc. (US) acquired US Ecology (US) to expand its footprint across the US and Canada.
  • In December 2021, Veolia Environnement S.A. (France) launched the Vigie Covid-19 solution, which can track signs of the Omicron variant in wastewater, acting as an early warning system for monitoring the progression of the pandemic.
  • In October 2020, Waste Management, Inc. (US) acquired Advanced Disposal (US). This acquisition expanded Waste Management’s footprint and provided access to sustainable waste management and recycling services to customers in the US.

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