IMARC Group, a leading market research company, has recently releases report titled “Medical Waste ContainersMarket: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global medical waste containers market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Medical Waste Containers Market?
The global medical waste containers market size reached US$ 2,219 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,274 Million by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Medical waste containers are employed to dispose of medical waste generated by healthcare facilities. They are specifically designed to contain and securely seal medical waste, such as tissues, blood-contaminated items, medical sharps, biohazardous materials, organs, medication, and radioactive waste that could harm the environment or human health. They provide durability and chemical resistance, have puncture-proof properties, and are color-coded and labeled according to the type of waste they collect. As a result, medical waste containers are widely adopted in tattoo parlors, hospitals, veterinary clinics, and pharmaceutical companies.
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What are the growth prospects and trends in the medical waste containers industry?
The market is primarily driven by the significant expansion in the healthcare sector. In addition, the increasing volume of diagnostic and lab testing samples and the rising awareness regarding the benefits of proper management of hospital waste in curbing the spread of infection and related health hazards are contributing to the market growth.
Moreover, the growing prevalence of hospital-acquired infections (HAIs) due to lack of sanitation and precautions is accelerating the adoption of medical waste containers to minimize the risk of contamination, prevent the spread of bacterial and microbial infections and ensure proper disposal of waste. Besides this, the widespread product adoption in surgeries for proper disposal of medical waste to prevent the transmission of infections is propelling the market growth.
Furthermore, the implementation of stringent safety and environmental conservation policies for the proper disposal of waste and extensive research and development (R&D) activities in the pharmaceutical industry are also creating a positive market outlook.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type of Waste:
- General Medical Waste
- Infectious Medical Waste
- Hazardous Medical Waste
- Radioactive Medical Waste
- Others
Breakup by Product:
- Chemotherapy Containers
- Biohazardous Medical Waste Containers
- Sharps Medical Waste Containers
- Resource Conservation and Recovery Act (RCRA) Containers
- Others
Breakup by End User:
- Hospitals and Private Clinics
- Pharmaceutical and Biotechnology Companies and CROs
- Academic Research Institutes
- Diagnostic Laboratories
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Becton Dickinson and Company, Bemis Manufacturing Company, Bondtech Corporation, Cardinal Health Inc., Daniels Sharpsmart Inc., EnviroTain LLC, Henry Schein Inc., Mauser Packaging Solutions, Medegen Medical Products (Inteplast Group Corporation), Stericycle Inc., Terra Universal Inc. and Thermo Fisher Scientific Inc.
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