The global medical waste containers market is scheduled to be valued at US$ 20 Bn in 2021, according to a recently published research report by Fact.MR. Long-term projections appear further optimistic, with an anticipated CAGR of 6% from 2021-2031, and an expected valuation of US$ 36 Bn. Rapid expansion of healthcare infrastructure and the consequent increase in medical waste generation is likely to drive future demand.
Sales of medical waste containers expanded significantly throughout the historical period 2016-2020, clocking a CAGR of over 5%. Implementation of stringent waste disposal guidelines to prevent community spread further accelerated growth prospects for medical waste containers throughout the duration of the COVID-19 pandemic. Prominent players, including Daniels Health, have come to the fore, offering highly specialized and safe approaches for disposing off COVID-19 waste.
According to the World Health Organization, 85% of all medical waste generated is non-hazardous in nature. Much of this is disposed-off in the conventional way- open burning and incineration. This has raised a considerable number of eyebrows, as they are responsible for bulk of all particulate matter, dioxins and furans emissions. Hence, countries are looking to incorporate medical waste containers and reduce their environmental footprint.
Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4819
Key Segments Covered
- Product Type
- Chemotherapy Medical Waste Containers
- Biohazard Medical Waste Containers
- RCRA (Resource Conservation and Recovery Act) Medical Waste Containers
- Pharmaceutical Waste Containers
- Medical Sharps Waste Containers
- Patient Room Sharps Containers
- Phlebotomy Sharps Containers
- Multipurpose Sharps Containers
- Waste Type
- Infectious & Pathological Waste
- Non-infectious Waste
- Radioactive Waste
- Sharps Waste
- Pharmaceutical Waste
- Usage Type
- Disposable Medical Waste Containers
- Reusable Medical Waste Containers
- Medical Waste Generators
- Medical Waste Containers for Hospitals
- Medical Waste Containers for Clinics & Physicians’ Offices
- Medical Waste Containers for Pharmaceutical Companies
- Medical Waste Containers for Long Term Care & Urgent Care Centers
- Medical Waste Containers for Pharmacies
- Medical Waste Containers for Other Generators
Competitive Landscape
To obtain a competitive edge and increase their customer base, major market players are assiduously investing in the creation and introduction of new goods. Key business techniques used by industry participants include product portfolio diversification and mergers and acquisitions.
- For instance, NalgeneTM Biohazardous Waste Containers from Thermo Fisher Scientific Inc. have a practical one-step sterilization that eliminates the need to remove the bag. One-handed material disposal through a port aperture in the cover reduces exposure to infectious trash. The containers store autoclave bags of a standard size.
- EnviroTain LLC similarly provides medical waste containers for biohazardous, chemotherapeutic, pharmaceutical, RCRA, and sharps containers. Leading distributors, such as Mauser Packaging and the National Waste & Recycling Association, have worked with the business.
Key Reports from the Market Study:
- By product type, the pharmaceutical containers to secure around 30% of the market share
- By waste type, the non-infectious medical waste segment is poised to capture 2/5th of global demand
- Chemotherapy medical waste containers to experience a CAGR of 5% until 2031
- Hospitals to account for at least 2 out of 5 medical waste container sales
- North America to register a CAGR of 5% across the forecast period
- Asia to expand at 6.1% CAGR, capturing a fifth of the global market share
