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The global medical waste management market is expected to reach USD 13.3 Billion by 2020 from USD 10.3 Billion in 2015, at a CAGR of 5.2% from 2015 to 2020.
The report segments this market based on type of waste, services, treatment type, and treatment site. Based on type of waste, the medical waste management market is segmented into non-hazardous and hazardous waste.
Hazardous waste segment is further categorized into infectious and pathological waste, sharps, pharmaceuticals, and other medical wastes. The non-hazardous waste segment is expected to account for the largest share of the market in 2015.
The medical waste management market, by services, is segmented into collection, transportation, and storage, treatment and disposal, recycling, and other services.
Among various services, the treatment and disposal segment is expected to account for the largest share of the market and expected to grow at the highest CAGR from 2015 to 2020.
The high growth in this segment can be attributed to the increasing number of initiatives taken by government and non-government organizations for the appropriate disposal of medical waste.
The medical waste management market, by treatment type, is segmented into incineration, autoclaving, chemical treatment, and other treatments. The incineration treatment segment is poised to be the fastest-growing segment during the forecast period.
The medical waste management market, by treatment site, is segmented into offsite and onsite treatment. The offsite segment is expected to account for the largest share of the market and expected to grow at the highest CAGR from 2015 to 2020.
Based on geography, the global medical waste management market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Its growth is driven by its stringent regulations for medical waste management, rising aging population, and the generation of large amount of medical waste.
Key players in the market include BioMedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart, Inc. (U.S.), REMONDIS Medison GmbH (Germany), Republic Services, Inc. (U.S.), Sharps Compliance, Inc. (U.S.), Stericycle, Inc. (U.S.), Suez Environnement S.A. (France), Veolia Environnement S.A. (France), and Waste Management, Inc. (U.S.).
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