According to the latest report by IMARC Group, titled "Medical Waste Containers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global medical waste containers market exhibited moderate growth during 2016-2021. Medical waste containers are generally utilized in healthcare settings for disposing of medical wastes. They are commonly designed to seal and contain wastes that are accumulated during medical exploration, therapy of patients, testing, inoculation and analysis. They are resistant to chemicals and durable in nature since they are usually manufactured using high-density plastics or metals. These containers are also utilized for safely transporting and storing wastes that are produced in healthcare facilities. As a result, they help in preventing accidental contact with infectious materials that can be potentially harmful to human health.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Medical Waste Containers Market Trends:
The global market is primarily driven by significant growth in the healthcare sector. In line with this, the rising number of healthcare and diagnostic centers across the globe is creating a positive outlook for the market. Moreover, the escalating need for controlling the transmission of infections and related health hazards is providing a boost to the market growth. In addition to this, a considerable rise in the number of surgical processes across hospitals has led to the increasing need for the safe disposal of wastes, which is acting as one of the key factors driving the growth of the market. Furthermore, rising investments and funding to conduct extensive research and development (R&D) activities are favorably impacting the market growth. Additionally, continual improvements in the pharmaceutical infrastructure, along with the increasing healthcare expenditure across the globe, are also providing a boost to the market growth. Other factors, including the rising inflow of patients due to the widespread prevalence of chronic illnesses, the growing geriatric population and continuous product innovations, are further contributing to the market growth. On account of the aforementioned factors,?the market is anticipated to grow at a CAGR of 6.50% during 2022-2027.
- On the basis of the type of waste, the market has been segmented into general medical waste, infectious medical waste, hazardous medical waste, radioactive medical waste and others.
- Based on the product, the market has been classified into chemotherapy, biohazardous medical waste, sharps medical waste, resource conservation and recovery act (RCRA), and other containers.
- On the basis of the end-user, the market has been categorized into hospitals and private clinics, pharmaceutical and biotechnology companies and CROs, academic research institutes, diagnostic laboratories and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are 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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