Hazardous medical waste (HMW) presents significant environmental and public health challenges, particularly in the context of rising healthcare demands and the global push for sustainable resource management. This study investigates the evolution of HMW management through a bibliometric and thematic analysis of 1703 articles published between 2020 and 2025, retrieved from the Web of Science database. Using VOSviewer, co-occurrence mapping and term clustering reveal six major conceptual domains, including thermal treatment technologies, operational optimization, environmental indicators, and behavioral dimensions. This study adds value by applying a dual bibliometric–thematic lens to provide new insights into the operational, technological, and sustainability dimensions of HMW. The analysis identifies a gradual shift from traditional disposal methods to circular models focused on resource valorization through pyrolysis, gasification, and sterilization. Lean management principles—such as process efficiency, waste minimization, and the promotion of recovery and reuse—emerge as complementary to circular economy goals. Additional visualizations outline international collaboration trends, highlighting established research hubs and emerging contributors. The findings emphasize the role of data-driven decision tools, sustainability assessment methods, and cross-sectoral integration in enhancing medical waste systems.