The global Medical Waste Containers market size is expected to be worth around US$ 2.8 billion by 2028, according to a new report by Vision Research Reports.
The global Medical Waste Containers market size was valued at US$ 1.8 billion in 2020 and is anticipated to grow at a CAGR of 6.3% during forecast period 2021 to 2028.
The increasing number of diagnostic laboratories, the increasing number of patients suffering from cancer, the rising number of surgical procedures across the globe, and the recent outbreak of COVID-19 are the key factors driving the market.
Medical waste disposal in specific containers is a critical step in maintaining the hygiene and safety standards in hospitals, clinics, and diagnostic laboratories. It ensures that general, infectious, and hazardous hospital remains would not be exposed to the patients as they are transported and managed in a proper systematic way. The recent outbreak of COVID-19 has tremendously increased the volume of hospital remains across the globe.
As per the journal published by the National Center for Biotechnology Information (NCBI) in 2020, as per the guidelines issued by the CDC, domestic and hospital remains from observation wards, fever clinics, special examination rooms, laboratories, and isolation wards, especially the nucleic acid testing laboratories, should be marked as COVID-19 related medical remains, and separate containers printed with “COVID-19 infection” should be affixed. In addition, remains from protective facial masks carrying pathogens has also increased to a great extent. Thus, containers with distinct marks were placed in the public areas of the hospital to collect those abandoned masks. Furthermore, an increase in awareness regarding hospital safety standards and increased investments by hospitals in maintaining their cleanliness is also anticipated to propel market growth over the forecast period.
The chemotherapy containers segment held the largest market share of 37.11% in 2020 and is anticipated to witness a considerable growth rate over the forecast period. The growth of the segment is majorly driven by the rising cases of cancer and surgeries of cancer patients across the globe. For instance, as per the report published by the World Health Organization in 2018, around 2.1 million cases of lung cancer, 2.1 million cases of breast cancer, and 1.8 million cases of colorectal cancer were reported globally. Such factors are anticipated to drive the demand for chemotherapy containers, thereby propelling segment growth.
The Resource Conservation and Recovery Act (RCRA) containers segment is anticipated to witness the fastest growth rate over the forecast period. The RCRA container is majorly used for the storage of hazardous waste. These containers are less expensive and are less difficult to manage as compared to surface impoundments or tanks. The RCRA containers are movable and allow operators or owners to use only one unit for transportation, disposal, and storage.
The hospitals and private clinics segment of the medical waste containers market held the largest revenue share of 35.5% in 2020. The increasing cases of chronic wounds and cancer and rising number of hospital admissions are the major factors driving the segment. In addition, the increasing number of surgical procedures is also anticipated to positively impact segment growth over the forecast period.
The hospital and private clinics segment is also anticipated to witness the fastest growth rate over the forecast period. The increasing number of clinics and surgical procedures are the major factors contributing to segment growth over the forecast period.
The general medical waste segment held the largest market share of 35.6% in 2020. The general medical waste majorly includes waste generated from research facilities, health-care establishments, and laboratories. More than 75.02% of the waste produced from hospitals and clinics comprises of general medical waste. The general medical waste is governed by municipal waste disposal mechanisms.
The infectious medical waste segment is anticipated to witness the fastest growth rate over the forecast period. Infectious waste generally comprises pathogens (bacteria, viruses, parasites, or fungi) in an adequate concentration or quantity to cause disease in susceptible hosts. The infectious waste majorly comes from waste from isolation wards, tissue or swabs, and laboratory cultures. The recent outbreak of COVID-19 is one of the major drivers for the growth of the segment over the forecast period.
North America dominated the market and accounted for the largest revenue share of 45.5% in 2020. The region is anticipated to witness a considerable growth rate over the forecast period. An increase in the number of surgeries and healthcare workers is expected to drive the demand for medical waste containers in the region.
In Asia Pacific, the market is expected to witness the fastest growth rate of 6.10% over the forecast period. The presence of developing countries such as China, India, and Japan is anticipated to boost the market growth in the region. Increasing healthcare infrastructure development in this region and the rising awareness about patient safety and hygiene standards are some of the factors anticipated to drive the market. In India, most of the hospitals have contracts with third parties for medical waste management.
Bemis Manufacturing Company
Mauser Packaging Solutions
Daniels Sharpsmart Inc. (Daniels Health)
Thermo Fisher Scientific Inc.
Henry Schein, Inc.
Sharps Compliance, Inc.
Biohazardous Medical Waste Containers
Resource Conservation and Recovery Act (RCRA) Containers
Type Of Waste Outlook
General Medical Waste
Infectious Medical Waste
Hazardous Medical Waste
Hospitals & Private Clinics
Middle East & Africa
The Medical Waste Containers market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Waste Containers market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Waste Containers market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Waste Containers market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Waste Containers market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Waste Containers capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Waste Containers by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Waste Containers market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Waste Containers market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Waste Containers market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Waste Containers industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Medical Waste Containers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Waste Containers market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Waste Containers market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Waste Containers market. These factors have benefited the growth of the global market for Medical Waste Containers. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Waste Containers. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Waste Containers are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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