Medical Waste Management Market Size, Share & Trends Analysis Report By Services (Onsite: Collection, Recycling, Treatment; Offsite: Collection, Recycling, Treatment), By Treatment, And Segment Forecasts, 2018 - 2025

Industry Insights

The global medical waste management market size was valued at USD 21.0 billion in 2016 and is expected to grow at a CAGR of 5.4% over the forecast period. The growth of the overall medical and healthcare industry is triggering the demand for these systems. Continuous R&D in this industry is resulting in advanced diagnostic, surgical, and treatment solutions. In addition, the rising prevalence of diseases such as cancer & other chronic disorders and increasing geriatric population & road accidents result in higher demand for these advanced medical solutions. Thus, the commercial availability of advanced medical solutions coupled with expanding patient pool is causing a large amount of waste and byproducts.

The development of innovative manufacturing techniques for drugs and medical devices in the pharmaceutical industry is growing rapidly. Furthermore, the growth of the market is also reflected by the efficient supply of inventories required in the day-to-day functioning of hospitals, clinics, and diagnostic centers. This results in the generation of more waste. These by-products and residues need a proper system or service for collection, transportation, disposal, and recycling of specific materials or by-products if required.

China medical waste management market, by treatment, 2014 - 2025 (USD Million)

Some of the treatment, disposal, and recycling procedures release harmful gases and compounds such as mercury and oxides. These hazardous compounds can cause land, air, & water pollution, resulting in the spreading of infectious agents, which may cause cancer. Thus, the factors such as the development and adoption of advanced techniques in the treatment, disposal, and recycling of these materials are driving the growth. In addition, favorable government initiatives in funding medical waste management programs in emerging markets are anticipated to trigger growth.

However, a drastic shift in the market from larger players to smaller-size local players is anticipated to impede the growth. The developing countries invest a high amount of capital for the adoption of sophisticated technologies to aid in reducing pollution and other hazardous effects on the ecosystem during the treatment & disposal. However, these countries lack clear & stringent guidelines and regulations for the management of medical waste, thereby hindering the market growth.

Service Insights

The medical waste management market is segmented on the basis of services and treatment performed on materials. The players in this industry provide services that include collection, transportation, storage, treatment, disposal, and recycling of waste. These services can be performed onsite or offsite. Usually, disposal and treatment of the material are outsourced offsite, hence, this segment accounts for the largest share. However, to minimize the cost & holding time of waste, the adoption of onsite disposal and treatment is rapidly increasing. Many firms are starting up their own onsite treatment, disposal systems, and recycling units. Thus, this segment is expected to be the fastest-growing during the forecast period.

The treatment and disposal of waste segment accounted for the largest revenue share in 2015. However, the recycling segment is expected to be the fastest-growing segment during the forecast period due to the development of innovative and ecofriendly techniques such as the “Best From the Waste”.

These materials undergo a variety of treatments such as incineration, autoclaving, and thermal & chemical processing for disposal. The incineration segment holds the largest share since it is an easy and old method of disposal. On the other hand, incineration leads to the emission of harmful gases and compounds that result in air, water, and land pollution, which cause infectious diseases such as asthma. Hence, treatments involving chemical-processing and other non-incineration methods are expected to replace incineration in the near future.

Global medical waste management market by services, 2016 (USD Million)

Regional Insights

North America dominated the market by capturing the largest revenue share of over 32.0% in 2016. A highly developed healthcare sector and rising prevalence of infectious & chronic diseases that require advanced medical & surgical aids, which generate a large number of by-products and residues is driving the market growth.

The Asia Pacific is expected to exhibit the highest growth in the near future due to rising social awareness and the establishment of stringent regulations for the proper disposal of residues and byproducts. The adoption of eco-friendly disposal and recycling processes is anticipated to trigger growth.

Medical Waste Management Market Share Insights

Some of the major players competing in the industry include REMONDIS SE & Co. KG; Republic Services, Inc.; Sharp Compliance, Inc.; Stericycle, Inc.; Suez Environnement; Veolia; and Waste Management, Inc.

These companies hold a strong position in the global market mainly due to strong brand identity and their commercial availability across the globe. In addition, these players are adopting various strategies to remain competent in the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global medical waste management market on the basis of services, treatment, and regions:

•  Services Outlook (Revenue, USD Million; 2014 - 2025)

  • Onsite

    • Collection

    • Treatment

    • Recycling

    • Others

  • Offsite

    • Collecting, transportation, storage

    • Treatment

    • Recycling

    • Others

• Treatment Outlook (Revenue, USD Million; 2014 - 2025)

  • Incineration

  • Autoclaving

  • Chemical treatment

  • Others

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa