Medical Waste Management Market Size, Share, Growth Analysis, By Type(Non-Hazardous Waste, and Hazardous Waste, (Infectious & Pathological Waste, Pharmaceutical Waste), By Service(Collection, Transportation, & Storage Services, Treatment & Disposal Services (Incineration)), By Treatment site(Onsite, and Offsite), By Application(Hospitals, Retail Pharmacy, Blood Banks, and Laboratories), By Region - Industry Forecast 2024-2031

Global Medical Waste Management Market size was valued at USD 8.7 Billion in 2022 and is poised to grow from USD 9.2 Billion in 2023 to USD 14.89 Billion by 2031, growing at a CAGR of 6.2 % in the forecast period (2024-2031). 

REMONDIS SE & Co. KG and Republic Services, Inc. are two of the leading businesses in the sector. The organizations have demonstrated a persistent commitment to utilizing advanced technology to enhance waste treatment, establishing strategic partnerships to expand their service offerings, and upholding stringent environmental regulations to ensure the safe and secure disposal and handling of medical waste.  'Waste Management, Inc. ', 'Hazardous Waste Experts  ', 'EcoMed Services ', 'GRP & Associates, Inc. ', 'GIC Medical Disposal ', 'EPCO ', 'Safeguard Waste Solutions ', 'DULSCO  ', 'Gamma Waste Services ', 'BWS Incorporated ', 'Veolia Environnement S.A. ', 'Clean Harbors, Inc. ', 'REMONDIS SE & Co. KG ', 'Medwaste Industries, Inc. ', 'SSO MEDICAL WASTE MANAGEMENT', 'In June 2024, Waste Management, Inc. and Stericycle announced that they entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle. Stericycle is a premier provider of regulated medical waste and compliance services and secure information destruction services. ', 'In June 2024, the Council of Scientific and Industrial Research (CSIR) and AIIMS, New Delhi facilitated an MoU to pilot technology for Biomedical Waste Management. They came together to install a pilot project and study ‘Conversion of Pathogenic Biomedical Waste to Value Added Soil Additives'.  ', 'In January 2024, MedPro Waste Disposal acquired a medical waste transporting unit in early 2024, further consolidating its service offerings in the medical waste sector. These moves indicate ongoing strategic expansions and consolidations in the industry.'

All waste generated by medical laboratories, biomedical research centers, healthcare facilities, and small or dispersed sources is included in the category of healthcare waste. Research on waste production indicates that hospitals worldwide produce approximately 0.5 kg of waste per bed every day. However, compared to other countries, higher-income countries produce significantly more garbage, depending on the local climate. 

More and more advanced waste treatment methods are being used, including microwave treatment, autoclaving, and plasma arc technology. These offer safer, more effective, and environmentally more friendly options compared to traditional incineration techniques. 

North America accounted for the largest revenue share of 30.36% in the market in 2023. With an advanced healthcare system, North America is considered a leading region in medical waste management among all parts of the world. This region has an enormous number of clinics, hospitals, research centers, and pharmaceutical companies in the US and Canada, generating huge amounts of medical wastes. The quantum and diversity of medical waste being generated in the region has thus set off an active demand for specialized services of waste management. Specialized waste management companies offering full-service solutions of proper medical waste treatment and disposal are in great demand in the US. The advanced technology is engaged by these companies to properly take care of biohazardous materials and follow environmental regulations.