Depends on whether or not it has been used. Anything that comes in contact with bodily fluids is supposed to be incinerated, irradiated, or steamed in an autoclave as you know. Lab fluids (not bodily fluids) have to be rendered inert chemically, but then can probably just be poured down the drain.

I guarantee a good portion of medical expenses is derived from disposal requirements. I would like to see if any bloodborne pathogens could survive regrinding and extrusion... then the only issue is how it's transported.