Pharmaceutical Waste Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pharmaceutical Waste Management Market Analysis
Pharmaceutical waste usually refers to unused or expired prescription pharmaceuticals. The expanding patient population, across the globe, is driving the growth of the pharmaceutical waste management market. The rising volume of waste, along with the increasing government initiatives for proper disposal of medications is driving the pharmaceuticals waste management market. Several federal bodies maintain laws concerning medical waste. These include the Occupational Safety and Health Administration (OSHA), the Centers for Disease Control (CDC), the U.S. Food and Drug Administration (FDA), and the Drug Enforcement Administration (DEA). The increasing awareness and initiatives by the government and private bodies, in collaboration with hospitals, boost the demand of this studied market.
However, the high cost associated with the disposal of pharmaceutical waste and reluctance in the adoption of new technologies is expected to restrain the growth of the global market in the forecast period.
Pharmaceutical Waste Management Market Trends
This section covers the major market trends shaping the Pharmaceutical Waste Management Market according to our research experts:
Hospital Segment is Expected to Dominate the Market
Based on the waste generator, the market is segmented into Hospitals, Clinics, Pharmacies, and Others. The hospital segment is expected to dominate the market. The high growth is attributed to the growing number of hospitals and increased pharmaceuticals waste from the hospital, owing to increasing patient population base and a large number of unused medications and other pharmaceutical waste are disposed of by this medical facility in most of the developed economies. Hence, pharmaceutical waste management from these end-users is more important to be tackled and controlled.
North America leads the Pharmaceutical Waste Management Market
North America leads the pharmaceutical waste management market, owing to the presence of the highly developed healthcare sector and growing number of hospitals. According to American Hospital Association,as of 2019, there are around 6,210 hospitals in the United States. Moreover, the rising prevalence of infectious and chronic diseases requires medications and treatment, which is expected to produce a large number of by-products and residues leading to high growth of the segment.
Pharmaceutical Waste Management Industry Overview
The leading players in the global market for pharmaceutical waste management are - BioMedical Waste Solution, Clean Harbors, Inc., Covanta Holding Corporation, Sharps Compliance, Inc., Stericycle, Suez SA, US Ecology, Inc., and Waste Management, Inc.
Pharmaceutical Waste Management Market Leaders
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BioMedical Waste Solutions, LLC
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Clean Harbors, Inc.
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Sharps Compliance, Inc.
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US Ecology, Inc.
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Waste Management, Inc.
*Disclaimer: Major Players sorted in no particular order
Pharmaceutical Waste Management Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Government Initiatives for Proper Disposal of Medications
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4.2.2 Rising Awareness Regarding Pharmaceuticals Waste
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4.2.3 Expanding Patient Population
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4.3 Market Restraints
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4.3.1 High Cost Associated with Disposal of Pharmaceutical Waste
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4.3.2 Reluctance in the Adoption of New Technologies
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type of Waste
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5.1.1 Prescription Drugs
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5.1.2 Over the Counter Waste
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5.1.3 Others
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5.2 By Waste Generator Type
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5.2.1 Hospitals/Clinics
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5.2.2 Biopharmaceutical Companies
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5.2.3 Others
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 South Korea
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5.3.3.6 Rest of Asia-Pacific
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5.3.4 Middle East and Africa
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5.3.4.1 GCC
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5.3.4.2 South Africa
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5.3.4.3 Rest of Middle East and Africa
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5.3.5 South America
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5.3.5.1 Brazil
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5.3.5.2 Argentina
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5.3.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 BioMedical Waste Solutions, LLC
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6.1.2 Clean Harbors, Inc.
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6.1.3 Covanta Holding Corporation
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6.1.4 Sharps Compliance, Inc.
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6.1.5 Stericycle
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6.1.6 Suez SA
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6.1.7 US Ecology, Inc.
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6.1.8 Waste Management, Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pharmaceutical Waste Management Industry Segmentation
As per the scope of the report, Pharmaceutical waste is any waste that contains drugs that are expired, unused, contaminated damaged or no longer needed.
| By Type of Waste | |
| Prescription Drugs | |
| Over the Counter Waste | |
| Others |
| By Waste Generator Type | |
| Hospitals/Clinics | |
| Biopharmaceutical Companies | |
| Others |
| Geography | ||||||||
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Pharmaceutical Waste Management Market Research FAQs
What is the current Pharmaceutical Waste Management Market size?
The Pharmaceutical Waste Management Market is projected to register a CAGR of greater than 8.5% during the forecast period (2024-2029)
Who are the key players in Pharmaceutical Waste Management Market?
BioMedical Waste Solutions, LLC, Clean Harbors, Inc., Sharps Compliance, Inc., US Ecology, Inc. and Waste Management, Inc. are the major companies operating in the Pharmaceutical Waste Management Market.
Which is the fastest growing region in Pharmaceutical Waste Management Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pharmaceutical Waste Management Market?
In 2024, the North America accounts for the largest market share in Pharmaceutical Waste Management Market.
What years does this Pharmaceutical Waste Management Market cover?
The report covers the Pharmaceutical Waste Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pharmaceutical Waste Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pharmaceutical Waste Management Industry Report
Statistics for the 2024 Pharmaceutical Waste Management market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Pharmaceutical Waste Management analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
