Medical Waste Management Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

A Market Overview of Medical Waste Management in 2026

The global medical waste management market was valued at $7,225 million in 2019, and is expected to grow at a CAGR of 6% from 2019 to 2026, to $12,700 million by 2026. Medical waste management is defined as the collection, treatment, and disposal of biomedical waste through a variety of services such as incineration, chemical treatment, and autoclaving. Medical waste is a by-product of hospitals, laboratories, and research facilities, as well as surgery centres. The increase in the volume of medical waste, the strict regulatory framework in place to manage medical waste safely and environmentally, and the development of healthcare infrastructure are all contributing to the market's growth. In addition, the market is growing due to an increase in the number of awareness programmes addressing medical waste management.

The worldwide Medical Waste Management Market is expected to increase positively as a result of the COVID-19 epidemic. The COVID-19 pandemic has put a strain on global healthcare systems, resulting in an increase in medical waste generated by hospitals, diagnostic centres, research centres, laboratories, and clinics.

Medical waste is the trash generated as a result of medical, surgical, and therapy procedures carried out in healthcare institutions. Hospitals, diagnostic institutes, and clinics generate waste that must be properly handled and managed. Medical waste management ensures that biomedical waste is properly collected, stored, treated, and disposed of in order to protect the general public, animals, and environment.

The global medical waste management market is primarily driven by an increase in the volume of medical waste, as well as an increase in the geriatric population, the incidence of chronic disease, and advancements in technology for effective medical waste treatment. Due to an increase in the use of various diagnostic activities and treatment of COVID-19 patients, India created roughly 45,308 tonnes of biomedical waste between June 2020 and May 2021, according to the Central Pollution Control Board (CPCB).