The global medical waste management market is projected to reach USD 9.0 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 5.6%. The growth of this market is primarily driven by the increasing volume of healthcare waste and the growing geriatric and obese populations.
The prominent players operating in the medical waste management market include Stericycle (US), Veolia Environnement S.A. (France), Suez Environnement (France), Clean Harbors (US), REMONDIS AG & Co. KG (Germany), Sharps Compliance, Inc. (US), Waste Management, Inc. (US), BioMedical Waste Solutions, LLC (US), Daniels Sharpsmart, Inc. (Australia), Republic Services, Inc. (US), EcoMed Services (US), GRP & Associates (US), BWS Incorporated (US), MedPro Disposal (US), GIC Medical Disposal (Canada), Gamma Waste Services (US), Triumvirate Environmental (US), EPCO (Saudi Arabia), Casella Waste Systems, Inc. (US), All Medical Waste Australia Pty Ltd. (Australia), Pro-Disposal (US), SSO Medical Waste Management (US), SafeGuard Waste Solutions (US), Medical Waste Industries, Inc. (US), and Dulsco (Saudi Arabia). The players operating in this market majorly focused on product launches/approvals, partnerships, and acquisitions to expand their market presence between 2016 and 2019.
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Stericycle (US) is the leader in the medical waste management market in 2018. The company caters to various industries, such as dental, healthcare, pharmaceutical manufacturing, medical services, consumer products manufacturing, and retail. The company recorded positive growth in its revenue in 2018, as compared to that of 2017. Stericycle generated 48.1% of its revenue through its Medical Waste and Compliance Solutions segment.
Sharps Compliance, Inc. (US) is one of the leading players in the medical waste management market. The company offer services in medical waste disposal, pharmaceutical waste disposal, hazardous waste disposal, universal waste disposal, incineration & treatment services, and compliance & training services. The company majorly focuses on inorganic and organic strategies such as acquisitions and product launches. For instance, in 2019, the company launched the Hazardous Drug Spill Control Kit, a USP <800> compliant spill kit for the cleanup of chemotherapy and other hazardous drug spills. Also, the company acquired Citiwaste LLC (US) to expand its customer base in the core healthcare, professional, and assisted living/long-term care markets.
