This report describes and explains the medical waste management market and covers 2017-2022, termed the historic period and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and the major economies within each region.
The global medical waste management market reached a value of nearly $17.0 billion in 2022, having increased at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $17.0 billion in 2022 to $21.7 billion in 2027 at a rate of 5.0%. The market is then expected to grow at a CAGR of 4.9% from 2027 and reach $27.6 billion in 2032.
Growth in the historic period resulted from a strong emerging markets growth, a growing number of government-sponsored programs, an increased healthcare spending, and an increased volume of medical waste. Factors that negatively affected growth in the historic period were a lack of awareness about health hazards associated with medical waste, and a high cost of medical waste management services.
Going forward, an increasing prevalence of chronic diseases, an aging population, and an increasing population will drive the market. Factors that could hinder the growth of the medical waste management market in the future include the Russia-Ukraine war impact, and a rise in interest rates.
The medical waste management market is segmented by type into bio-hazardous or infectious waste, and non-hazardous waste. The non-hazardous waste was the largest segment of the medical waste management market by type, accounting for $13.1 billion or 77.0% of the total market in 2022. The non-hazardous waste market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
The medical waste management market is segmented by treatment into incineration, autoclaving, chemical treatment, and other treatments. The incineration market was the largest segment of the medical waste management market by treatment, accounting for $8.0 billion or 47.2% of the total market in 2022. The incineration market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
The medical waste management market is segmented by services into onsite services, and offsite services. The offsite services was the largest segment of the medical waste management market by services, accounting for $10.6 billion or 62.1% of the total market in 2022. The offsite services market is expected to be the fastest-growing segment going forward at a CAGR of 5.2%.
The medical waste management market is segmented by application into hospitals, clinics, ambulatory surgical centers, pharmaceutical companies, biotechnology companies, and other applications. The hospitals was the largest segment of the medical waste management market by application, accounting for $8.7 billion or 50.8% of the total market in 2022. The hospitals market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
North America was the largest region in the medical waste management market, accounting for 34.8% of the global market in 2022. It was followed by Asia-Pacific, Western Europe, and other regions. Going forward, the fastest growing regions in the medical waste management market will be Asia-Pacific and South America, where growth will be at CAGRs of 6.2% and 5.9% respectively from 2022-2027.
The global medical waste management market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 24.73% of the total market in 2022. Stericycle, Inc was the largest competitor with a 8.98% share of the market, followed by Waste Management, Inc with 6.25%, Veolia Environmental Services with 4.38%, Clean Harbors, Inc with 1.80%, Suez Environmental Services with 1.26%, Republic Services, Inc with 1.11%, Sharps Compliance Inc with 0.41%, Daniels Health Inc. with 0.30%, Biomedical Waste Solutions, LLC with 0.13%, and Remondis SE & Co KG with 0.12%.
The top opportunities in the medical waste management market by type will arise in the non-hazardous waste market, which will gain $3.7 billion of global annual sales by 2027. The top opportunities in the medical waste management market by treatment will arise in the incineration market, which will gain $2.3 billion of global annual sales by 2027. The top opportunities in the medical waste management market by services will arise in the offsite services market, which will gain $3.0 billion of global annual sales by 2027. The top opportunities in the medical waste management market by application will arise in the hospitals market, which will gain $2.4 billion of global annual sales by 2027. The medical waste management market size will gain the most in the USA at $1.3 billion.
Market-trend-based strategies for the medical waste management market include a focus on recycling technologies, new facility expansions, the use of microwave technology, product innovations, a focus on sustainability initiatives, and strategic mergers and acquisitions.
Player-adopted strategies in the medical waste management industry include a focus on strengthening the business capabilities through the launch of new products, and a focus on enhancing the operational capabilities through business expansions.
To take advantage of the opportunities, the recommends the medical waste management companies to focus on new facility expansions, focus on use of microwave technology, focus on product innovations, increase focus on non-hazardous waste, expand in emerging markets, continue to focus on developed markets, focus on mergers and acquisitions, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events, and continue to target fast-growing applications.
The global medical waste management market reached a value of nearly $17.0 billion in 2022, having increased at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $17.0 billion in 2022 to $21.7 billion in 2027 at a rate of 5.0%. The market is then expected to grow at a CAGR of 4.9% from 2027 and reach $27.6 billion in 2032.
Growth in the historic period resulted from a strong emerging markets growth, a growing number of government-sponsored programs, an increased healthcare spending, and an increased volume of medical waste. Factors that negatively affected growth in the historic period were a lack of awareness about health hazards associated with medical waste, and a high cost of medical waste management services.
Going forward, an increasing prevalence of chronic diseases, an aging population, and an increasing population will drive the market. Factors that could hinder the growth of the medical waste management market in the future include the Russia-Ukraine war impact, and a rise in interest rates.
The medical waste management market is segmented by type into bio-hazardous or infectious waste, and non-hazardous waste. The non-hazardous waste was the largest segment of the medical waste management market by type, accounting for $13.1 billion or 77.0% of the total market in 2022. The non-hazardous waste market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
The medical waste management market is segmented by treatment into incineration, autoclaving, chemical treatment, and other treatments. The incineration market was the largest segment of the medical waste management market by treatment, accounting for $8.0 billion or 47.2% of the total market in 2022. The incineration market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
The medical waste management market is segmented by services into onsite services, and offsite services. The offsite services was the largest segment of the medical waste management market by services, accounting for $10.6 billion or 62.1% of the total market in 2022. The offsite services market is expected to be the fastest-growing segment going forward at a CAGR of 5.2%.
The medical waste management market is segmented by application into hospitals, clinics, ambulatory surgical centers, pharmaceutical companies, biotechnology companies, and other applications. The hospitals was the largest segment of the medical waste management market by application, accounting for $8.7 billion or 50.8% of the total market in 2022. The hospitals market is expected to be the fastest-growing segment going forward at a CAGR of 5.1%.
North America was the largest region in the medical waste management market, accounting for 34.8% of the global market in 2022. It was followed by Asia-Pacific, Western Europe, and other regions. Going forward, the fastest growing regions in the medical waste management market will be Asia-Pacific and South America, where growth will be at CAGRs of 6.2% and 5.9% respectively from 2022-2027.
The global medical waste management market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 24.73% of the total market in 2022. Stericycle, Inc was the largest competitor with a 8.98% share of the market, followed by Waste Management, Inc with 6.25%, Veolia Environmental Services with 4.38%, Clean Harbors, Inc with 1.80%, Suez Environmental Services with 1.26%, Republic Services, Inc with 1.11%, Sharps Compliance Inc with 0.41%, Daniels Health Inc. with 0.30%, Biomedical Waste Solutions, LLC with 0.13%, and Remondis SE & Co KG with 0.12%.
The top opportunities in the medical waste management market by type will arise in the non-hazardous waste market, which will gain $3.7 billion of global annual sales by 2027. The top opportunities in the medical waste management market by treatment will arise in the incineration market, which will gain $2.3 billion of global annual sales by 2027. The top opportunities in the medical waste management market by services will arise in the offsite services market, which will gain $3.0 billion of global annual sales by 2027. The top opportunities in the medical waste management market by application will arise in the hospitals market, which will gain $2.4 billion of global annual sales by 2027. The medical waste management market size will gain the most in the USA at $1.3 billion.
Market-trend-based strategies for the medical waste management market include a focus on recycling technologies, new facility expansions, the use of microwave technology, product innovations, a focus on sustainability initiatives, and strategic mergers and acquisitions.
Player-adopted strategies in the medical waste management industry include a focus on strengthening the business capabilities through the launch of new products, and a focus on enhancing the operational capabilities through business expansions.
To take advantage of the opportunities, the recommends the medical waste management companies to focus on new facility expansions, focus on use of microwave technology, focus on product innovations, increase focus on non-hazardous waste, expand in emerging markets, continue to focus on developed markets, focus on mergers and acquisitions, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events, and continue to target fast-growing applications.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure19. Competitive Landscape And Company Profiles
6. Introduction And Market Characteristics
7. Medical Waste Management Market - Macro Economic Scenario
8. Major Market Trends
9. Global Market Size And Growth
10. Global Medical Waste Management Market Segmentation
11. Medical Waste Management Market, Regional and Country Analysis
12. Asia-Pacific Market
13. Western Europe Market
14. Eastern Europe Market
15. North America Market
16. South America Market
17. Middle East Market
18. Africa Market
20. Company Profiles
21. Key Mergers And Acquisitions
22. Opportunities And Strategies
23. Medical Waste Management Market, Conclusions And Recommendations
24. Appendix
Executive Summary
Medical Waste Management Global Market Opportunities And Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global medical waste management market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description:
Where is the largest and fastest-growing market for medical waste management? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider medical waste management market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics:Brief introduction to the segmentations covered in the market, definitions and explanations about the medical waste management market.
- Key Trends: Highlights the major trends shaping the global medical waste management market. This section also highlights likely future developments in the market.
- Macro Economic Scenario: The report provides an analysis of the impact of geopolitical tensions between Russia and Ukraine, impact of the COVID-19 pandemic and impact of rising inflation and interest rates on global and regional markets, providing strategic insights for businesses in the medical waste management market.
- Global Market Size And Growth: Global historic (2017-2022) and forecast (2022-2027, 2032F) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis: Historic (2017-2022) and forecast (2022-2027, 2032F) market values and growth and market share comparison by region and country.
- Market Segmentation: Contains the market values (2017-2022) (2022-2027, 2032F) and analysis for each segment by type, by treatment, by services and by application in the market.
- Regional Market Size And Growth: Regional market size (2022), historic (2017-2022) and forecast (2022-2027, 2032F) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape: Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers And Acquisitions: Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies: Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations: This section includes recommendations for medical waste management providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix: This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- 1) By Type: Bio-Hazardous Or Infectious Waste; Non-Hazardous Waste
- 2) By Treatment: Incineration; Autoclaving; Chemical Treatment; Other Treatments
- 3) By Services: Onsite Services; Offsite Services
- 4) By Application: Hospitals; Clinics; Ambulatory Surgical Centers; Pharmaceutical Companies; Biotechnology Companies; Other Applications
Companies Mentioned:
Stericycle, Inc; Waste Management, Inc; Veolia Environmental Services; Clean Harbors, Inc; Suez Environmental ServicesCountries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; RussiaRegions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; AfricaTime-series:
Five years historic and ten years forecast.Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; medical waste management indicators comparison.Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Stericycle, Inc
- Waste Management, Inc
- Veolia Environmental Services
- Clean Harbors, Inc
- Suez Environmental Services
- Republic Services, Inc
- Sharps Compliance Inc
- Daniels Health Inc.
- Biomedical Waste Solutions, LLC
- Remondis SE & Co KG
- A2Z Green Waste Management Ltd
- BVG India Ltd
- Tatva Global Environment Ltd
- Hanjer Biotech Energies Pvt. Ltd
- The SafeGroup
- Initial Medical
- PHS
- Sharpsmart Ltd
- Medisort Ltd
- Biffa Waste Services
- SUEZ Polska Sp. z o.o
- BioSter SA
- EKOMED Sp. z o.o
- Medbox
- Medikal Polska Sp. z o.o
- ARTECH Reduction Technologies
- Environmental Waste International Inc
- Pilot Performance Resources Management, Inc.
- Eco Medical
- United Medical Waste Management
- MedPro Disposal
- Sanpro
- Myron L Company
- Picvisa Machine Vision Systems S.L. U
- Tana Oy
- Presona AB
- Lindner-Recyclingtech
- DILO Armaturen und Anlagen GmbH
- Propex Operating Company, LLC
- Lamor Corporation Ab
- Globalex Enviro LLC
- Condor Medical Waste Treatment Company LLC
- Green Mountains Environment And Transport Services
- Mazaya Waste Management LLC
- Averda Waste Management
- Al Dhafra Waste Collection LLC
- Compass Medical Waste Services (Pty) Ltd
- Kudoti (Pty) Ltd
- Averda South Africa (Pty) Ltd
- Med-X Waste Solutions (Pty) Ltd
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 293 |
Published | November 2023 |
Forecast Period | 2022 - 2032 |
Estimated Market Value ( USD | $ 17 Billion |
Forecasted Market Value ( USD | $ 27.6 Billion |
Compound Annual Growth Rate | 4.9% |
Regions Covered | Global |