Global Medical Waste Containers Market Size and Outlook:
The global medical waste containers market is poised to register steady growth during the forecast period (2020-2026), expanding at a CAGR of 5.1%. The EPA estimates that the United States of America is the largest producer of medical waste in the world. Based on these abovementioned trends.
Medical waste management is an important global issue. Various organizations, such as the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA) and the Drug Enforcement Administration (DEA) are continuously working towards proper management of medical waste.
Besides, a number of non-governmental and community-based organizations are participating in assisting hospitals and other healthcare facilities to recycle, collect and disposal of medical waste.
Global Medical Waste Containers Market Analysis by Waste-type:
The non-infectious medical waste segment is projected to leverage the global medical waste containers market during the forecast period. The usage and disposal of medical utilities such as IV bags has received an uptick in recent yearrs. This is poised to augment the medical waste containers market. The non-infectious waste segment is set to account for more than two-fifths of the overall medical waste containers market.
However, pharmaceutical waste shall capture the second-largest market share, amounting to a little over two-fifth of the global medical waste containers market. High amounts of drug wastage and growing awareness about safe drug disposal are key factors augmenting the growth of the pharmaceutical waste segment.
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Global Medical Waste Containers Market Analysis by Region
The North American medical waste containers market is anticipated to expand modestly at a CAGR of 5.0% during the forecast period. It shall capture a market share of more than two-fifths of the medical waste containers market. The Asia-Pacific region is set to expand positively at a CAGR of 6.1% throughout the forecast period, capturing nearly one-fifth of the global medical waste containers market.
Growth in North America is attributed to a highly developed healthcare sector, rise in prevalence of infectious and chronic diseases requiring advanced medical and surgical aids, generation of copious amounts of medical waste and presence of important market players. Increasing awareness about medical waste management, in pharmaceutical sectors in emerging economies and prevalence of strict regulations regarding medical waste disposal are key growth drivers of the Asia-Pacific market.
Global Medical Waste Containers Manufacturers Strategies: Heroic Pursuit of Innovation on the Frontline of Pandemic
The global medical waste containers market is fragmented. Some important market players involved in the production of medical waste containers are Covidien plc (Medtronic), Daniels Health, Sharps Compliance, Inc. Becton Dickinson and Company, Thermo Fisher Scientific, Bemis Manufacturing Company, Mauser and Stericycle among others.
The key market players are concentrating on the creation of a strong brand through product innovation. For example, Daniels Health invested considerable funds spread over a period of five years of research and development to develop the Sharpsmart system which greatly helped reduce injuries due to sharps and needles.
Likewise, Sharps Compliance, Inc., offers a comprehensive portfolio of waste management solutions including brands such as Sharps Recovery System, MEDSAFE, TakeAway Recycle System and Sharpsecure. Its products also include the 1-quart Sharps Collection Containers.
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COVID-19’s Impact on Medical Waste Containers Market:
The coronavirus pandemic has generated an upward trend in the medical waste containers market. The importance of safe, secure and hazard-free disposal of medical waste has never been more important. As the number of COVID-19 positive patients continue rising, hospitals and clinics are revving up their efforts to maintain a sterile environment in order to prevent further spread of the virus.
Moreover, the amount of medical waste generated from the patients has been increasing, accelerating the demand for medical waste containers. Additionally, mandatory guidelines issued by governments worldwide for the proper handling and disposal of medical waste have prompted healthcare practitioners to invest more in procuring waste containers.
Prominent market players such as Daniels Health are playing an important role in mitigating the adverse effects of the pandemic. Besides augmenting production of medical waste containers, Daniels also provides assistance to healthcare providers by issuing guidelines for the collection and disposal of COVID-19 medical waste. Classified as Category-B waste, it does not require special handling and is to be managed in the same manner as regular waste.
The company, in its guidelines, urges healthcare settings to observe basic precautionary steps which include tying up waste bags, disposal in rigid containers and proper sealing of dustbin lids. Moreover, Daniels’ staff is observing basic hygiene practices to ensure minimal disruptions in their services. Its supply chain has also been made more robust in order to accelerate waste disposal containers production.
“Development of innovative medical waste disposal techniques owing to increasing volume of medical waste generation have provided leverage to the medical waste containers market. The COVID-19 pandemic has added further impetus to market growth, compelling market players to accelerate production cycles and strengthen supply chains.”
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Global Medical Waste Containers Market: Report Scope:
The recent study undertaken by Fact.MR on the medical waste containers market incorporates a 6-year forecast period, ranging from 2020 to 2026. The report explicates on vital dynamics such as the drivers, restraints and opportunities impacting the growth of the medical waste containers market.
A detailed segment-wise analysis of the market’s growth and revenue has been incorporated within the scope of this report. Market segmentation has been done on the basis of product type, waste type, usage type and medical waste generators.
Each of the abovementioned segment has been profiled within a regional landscape across five geographies (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa). In addition, a competitive landscape highlighting key players’ revenue and market shares, collaborations with other players, expansion strategies and future growth prospects by virtue of individual SWOT analyses, has been embedded within the purview of this report.
Global Medical Waste Containers: Market Segmentation
Fact.MR has studied the global medical waste containers market with detailed segmentation on the basis of product type, waste type, usage type, medical waste generators and region.
- Chemotherapy Containers
- Biohazard Medical Waste Containers
- RCRA (Resource Conservation and Recovery Act) Containers
- Pharmaceutical Containers
- Sharps Containers:
- Patient Room Sharps Containers
- Phlebotomy Sharps Containers
- Multipurpose Sharps Containers
- Infectious & Pathological Waste
- Non-infectious Waste
- Radioactive Waste
- Sharps Waste
- Pharmaceutical Waste
- Disposable Containers
- Reusable Containers
Medical Waste Generators
- Clinics & Physicians’ Offices
- Pharmaceutical Companies
- Long Term Care & Urgent Care Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Global Medical Waste Containers Market- Scope of the Report
The recent study by Fact.MR on global medical waste containers market offers a 6-year forecast between 2020 and 2026. The study analyzes crucial trends that are currently determining the growth of global medical waste containers market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of medical waste containers. The study also provides dynamics that are responsible for influencing the future status of the global medical waste containers market over the forecast period.
A detailed assessment of the global medical waste containers market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the global medical waste containers market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Medical Waste Containers Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in global medical waste containers market across the globe.
A comprehensive estimate of the global medical waste containers market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global medical waste containers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Medical Waste Containers Market: Analysis on Market Size Evaluation
The global medical waste containers market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for bentonite is available in terms of “US$ Mn” for value and thousand units for volume. A Y-o-Y growth contrast on prominent medical waste containers market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Medical Waste Containers Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global medical waste containers report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (economic, and business environment outlook), which are expected to have a momentous influence on the growth of the global medical waste containers market during the forecast period.
Country-specific valuation on demand for medical waste containers has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Global Medical Waste Containers Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global medical waste containers along with their detailed profiles. Essential and up-to-date data and information related to the market performers, who are principally engaged in the production of global medical waste containers, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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