The Global Medical Waste Containers Market size is expected to reach $2.4 billion by 2026, rising at a market growth of 7.1% CAGR during the forecast period. Medical waste containers are basically used to contain tissues, body parts, organs, non-viable foetuses, blood, bodily fluids, placentas, and other hazardous wastes produced from hospitals, pharmaceutical companies pharmaceutical research organizations. With a surge in research and development especially in the field of pharmaceuticals and also an increase in the number of surgeries and operations globally, the waste produced has also amplified. As medical waste containers safely hold hazardous medical waste, these waste containers are mainly used to transport medical waste to the disposal site. Safely enclosing this waste led to the prevention of illnesses from acquaintance to the waste.
The growing demand for medical waste containers is accredited to the increasing number of hospitals in emerging countries, increase in the number of patients, the increasing volume of lab testing samples, and rising attentiveness to the benefits of medical waste management in reducing the spread of infection. The increasing awareness towards the advantages of proper management of hospital waste especially among the healthcare industry of emerging countries is also expected to boost the demand for the product. Furthermore, the more and more use of medical waste containers in apt disposal of hospital waste is anticipated to drive the market growth over the foreseeable period.
Based on Product Type, the market is segmented into Chemotherapy Containers, Resource Conservation and Recovery Act (RCRA) Containers, Biohazardous Medical Waste Containers and Other Product Types. The Resource Conservation and Recovery Act (RCRA) containers segment is expected to show the fastest growth rate in the coming years. The RCRA container is mainly used for keeping hazardous waste. Such containers are comparatively less expensive and are easy to manage than the surface impoundments or tanks. The RCRA containers are transportable and allow operators to use only one unit for disposal, transportation, and storage.
Based on Waste Type, the market is segmented into General Medical Waste, Hazardous Medical Waste, Infectious Medical Waste and Other Waste Types. The infectious medical waste segment is expected to show the fastest growth. Infectious waste generally includes pathogens such as bacteria, parasites, viruses or fungi in an ample concentration or number to cause disease in vulnerable hosts. The infectious waste mainly comes from waste from separation tissue or swabs, wards, and laboratory cultures. The latest outbreak of COVID-19 is one of the main drivers leading to the growth of the segment over the foreseeable period.
Based on End Use, the market is segmented into Hospitals & Private Clinics, Research Institutes, Diagnostic Laboratories and Other End Use. The hospitals and private clinics segment have the largest revenue share in the year 2019. The growing cases of chronic wounds and cancer and the increasing rate of hospital admissions are the main factors boosting the segment. In addition to it, the growing number of surgical procedures is also expected to have positive impact segment growth in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 1.5 Billion |
| Market size forecast in 2026 | USD 2.4 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 7.1% from 2020 to 2026 |
| Number of Pages | 221 |
| Number of Tables | 380 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Waste Type, End Use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Medical Waste Containers Market to reach a market size of $2.4 Billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America led the medical waste containers market. North America has a major market share in the year 2019. Customary healthcare infrastructure; and the growing number of hospitals and ambulatory centers are the major factors boosting the growth of this market in this region. North America comprises the Canada, United States (US), and Mexico. The US and Canada are one of the utmost developed countries across the globe. These countries occupy a large amount of healthcare, and a large portion is committed to the development, research, and production in the pharmaceutical industry.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., Cardinal Health, Inc., Henry Schein, Inc., Mauser Packaging Solutions Holding Company, Bondtech Corporation, Daniels Sharpsmart, Inc. (Daniel Health), EnviroTain, LLC, Sharps Compliance, Inc. and Bemis Manufacturing Company, Inc.
By Product Type
By Waste Type
By End Use
By Geography
Companies Profiled
The global medical waste containers market size is expected to reach $2.4 billion by 2026.
There are several reason that cause high demand of this market one of them is increase in investments in research and development of new medical waste containers.
The chemotherapy containers segment has the largest market share in the year 2019 and is expected to show a considerable growth rate in the coming years.
Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., Cardinal Health, Inc., Henry Schein, Inc., Mauser Packaging Solutions Holding Company, Bondtech Corporation, Daniels Sharpsmart, Inc. (Daniel Health), EnviroTain, LLC, Sharps Compliance, Inc. and Bemis Manufacturing Company, Inc.
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