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.
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Medical Waste Containers Market By Product Type, By Waste Type, By End Use, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05999874/?utm_source=GNW
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.
By Waste Type
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.
By End Use
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.
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.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
• Chemotherapy Containers
• Resource Conservation and Recovery Act (RCRA) Containers
• Biohazardous Medical Waste Containers
• Other Product Types
By Waste Type
• General Medical Waste
• Hazardous Medical Waste
• Infectious Medical Waste
• Other Waste Types
By End Use
• Hospitals & Private Clinics
• Research Institutes
• Diagnostic Laboratories
• Other End Use
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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.
• Bemis Manufacturing Company, Inc.
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