Global Medical Waste Containers Market Overview
The key driver impacting the medical waste containers market is the rising number of patients suffering from chronic diseases and the growing number of surgeries globally. For instance, According to National Center for Biotechnology Information (NCBI), one in three adults suffer from multiple chronic conditions (MCCs). The WHO report estimations show that chronic disease accounts for 60% of the worldwide disease burden in 2020. Cancer is responsible for over 9.6 million deaths in 2018, and it is also the 2nd leading cause of death across the globe. Due to the rise in chronic diseases, is expected to increase the number of surgeries. According to the World Health Organization (WHO), over 234.2 million significant surgeries are conducted worldwide annually. This leads to an increase in the increased flow of samples in diagnostic labs, thus stimulating market demand. Moreover, growing illnesses due to untreated medical waste and strict safety and environmental conservation policies implemented by the government regarding the containment and disposal of waste contribute to medical waste containers market demand later.
According to Value Market Research, the global Medical waste containers market size was valued at USD 1.81 billion in 2020 and is estimated to grow at a CAGR of around 6.5% during the forecast period 2021 to 2027.
The escalating fundings in the development of novel medical waste containers will likely augment medical waste container demand in the forecast period. Also, rapidly intensifying pharmaceutical and health care industries are positively impacting the market growth. However, the lack of awareness regarding the collection of medical wastes in specific containers hampers the market in the long run. In addition, the breaking of containers leading to the spread of illness is impeding the market growth. Nevertheless, the market trends, such as well-established healthcare infrastructure and growing awareness regarding the safe disposal of medical waste, might provide considerable opportunities to the market's leading players.
The Medical waste containers market is widespread, with many local and international players. The market leaders follow different strategies such as extending product portfolio, research, and development, amalgamation, acquisitions, mergers, product upgrades to soar their market share globally. The key players in the report are BD, Mauser Packaging Solutions, Sharps Compliance, Inc., Cardinal Health, EnviroTain, LLC, Bondtech Corporation, Bemis Manufacturing Company, Daniels Sharpsmart Inc. (Daniels Health), Thermo Fisher Scientific Inc., and Henry Schein, Inc.
In this research report, the Medical waste containers market is segmented by product, type of waste, end-use, and region.
Analysis by Product:
By treatment, the report is segmented into chemotherapy containers, biohazardous medical waste containers, resource conservation, and recovery act (rcra) containers, and others. The chemotherapy containers segment dominates the treatment segment with the highest share in 2020. It is due to the growing incidences of cancer and many surgeries performed on cancer patients across the globe. Also, chemotherapy is an important part of the cancer treatment process that contributes to the growth of the chemotherapy containers segment.
Analysis by Type of Waste:
By type of waste, the report is segmented into infectious medical waste, general medical waste, hazardous medical waste, and others. The general medical waste segment dominates the type of waste segment with the highest share in 2020. It is because over 75.0% of the waste is produced from clinics and hospitals consists of general medical waste. Moreover, the massive amount of waste generated from healthcare establishments, research facilities, and laboratories contributes to the growth of the general medical waste segment.
Analysis by End-use:
By end-use, the report is segmented into hospitals & private clinics, diagnostic laboratories, research institutes, and others. The hospitals and private clinics segment dominated the end-user segment with the highest share in 2020. It is due to the increasing cases of chronic wounds and cancer and the rising number of hospital admissions. Moreover, the increasing number of clinics and surgical procedures contributes to the growth of the hospitals & private clinics segment.
Analysis by Region:
In the regional overview of the global Medical waste containers market, the North America region dominates with the largest market share in 2020. It is due to the rise in the number of surgeries and healthcare workers. The increasing cases of hospital-acquired infections and the outbreak of COVID-19 are anticipated to boost the product demand in the regional market. Also, growing initiatives by the government and key players to increase the usage of medical waste containers by offering improvement and modifications contribute to the tremendous market growth across the North America region.
Market Segmentation covered in the Report:
By Product
- Chemotherapy Containers
- Biohazardous Medical Waste Containers
- Resource Conservation and Recovery Act (RCRA) Containers
- Others
By Type of Waste
- General Medical Waste
- Infectious Medical Waste
- Hazardous Medical Waste
- Others
By End-use
- Hospitals & Private Clinics
- Diagnostic Laboratories
- Research Institutes
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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