Medical Waste Management Market Overview and Introduction

The Medical Waste Tracking Act of 1988 of U.S. federal law defines medical waste as “any solid waste that is generated in the diagnosis, treatment, or immunization of human beings or animals, in research pertaining thereto, or in the production or testing of biological.” This definition includes, but is not limited to: blood-soaked bandages, culture dishes &other glassware,  discarded surgical gloves, discarded surgical instruments, discarded needles used to give shots or draw blood (e.g., medical sharps), cultures, stocks, swabs used to inoculate cultures, removed body organs (e.g., tonsils, appendices, limbs) and discarded lancets, among others. Medical waste must be properly managed and disposed to protect the environment, the general public, and workers; especially healthcare & sanitation workers who are at risk of exposure to biomedical waste as an occupational hazard. Steps in the management of medical waste include generation, accumulation, handling, storage, treatment, transportation, and disposal.

The global medical waste management market is mainly driven by growing incidents of infectious diseases and an increasing volume of healthcare waste. Moreover, the implementation of various regulations for the management of medical waste and growing awareness regarding safety against hazards caused by medical wastes also play a pivotal role in contributing to market growth globally. However, high capital investments and lack of training for proper disposal coupled with inadequate funds are likely to restrain market growth to a certain extent.

The global medical waste management market can be segmented into type of waste, service, treatment site, waste generator, and regions.

Medical Waste Management Market By Type of Waste

Based on a type of waste, the market can be segmented into non-hazardous waste and hazardous waste. The non-hazardous waste segment is expected to dominate the medical waste management market during the forecast period. The segment growth can be attributed to a huge quantity of non-hazardous waste generated in healthcare facilities across the globe.

Medical Waste Management Market By Service

Based on service, the market can be segmented into a collection, transportation, & storage services; treatment & disposal services, and recycling services. The collection, transportation, & storage services segment is expected to dominate the medical waste management market during the forecast period owing to rising awareness and the presence of stringent regulations for the collection, transportation, and storage of medical waste.

Medical Waste Management Market By Treatment Site

Based on treatment site, the market can be segmented into offsite treatment and onsite treatment. The offsite treatment segment is expected to dominate the medical waste management market during the forecast period. For the on-site treatment of large quantities of medical waste, relatively expensive equipment is required, which could only be afforded by very large hospitals and companies having the space, labor, & budget to operate such equipment. Moreover, attractive packages are offered by leading service providers for off-site disposal, which results in the wide-scale adoption of offsite treatment.

Medical Waste Management Market By Waste Generator

Based on a waste generator, the market can be segmented into hospitals, pharmaceutical companies, and others. The hospitals segment is expected to dominate the medical waste management market during the forecast period. The segment growth can be attributed to the large number of surgeries performed in hospitals everyday globally, which leads to the generation of medical waste in large volumes.

Medical Waste Management Market By Region

Based on region, the global medical waste management market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the medical waste management market followed by Asia Pacific. The large share of North America can be attributed to the presence of stringent regulations for medical waste management in the region.

Medical Waste Management Market Prominent Players

Some of the prominent players in the medical waste management market include Stericycle, Veolia, SUEZ, WM Intellectual Property Holdings, L.L.C., CLEAN HARBORS, INC., REMONDIS SE & Co. KG, BioMedical Waste Solutions, LLC., Daniels Health, Republic Services, Inc., and EcoMed,among others.