According to a new market research report published by sheer analytics and insights, “The Global Medical Waste Containers Market was valued at $3.65 Billion in 2020. Growing at a high CAGR of more than 7.4% between 2021 and 2031, it is estimated to reach $8.12 Billion by 2031", as per the latest market research report titled Global Medical Waste Containers Market - Global industry analysis, size, share, growth, trends, and forecast, 2021-2031.
Medical waste containers are generally used to contain body parts, organs, non-viable fetuses, tissues, placentas, bodily fluids, blood, and other hazardous wastes generated from pharmaceutical research organizations, hospitals, and pharmaceutical companies. With increasing research and development in the pharmaceutical field and the number of surgeries and operations globally, the waste generated has also increased. As the containers safely contain hazardous medical waste, they are used to transport the debris to the disposal site. The rising demand for medical waste containers is anticipated to the increasing number of hospitals in developing countries, the growing volume of diagnostic and lab testing samples, the ever-increasing patient population, and rising awareness of hospital waste management's benefits curbing the spread of infection. The increasing awareness towards the benefits of proper management of hospital waste among developing countries' healthcare sector is also anticipated to increase the demand for the product during the forecast period.
However, in this current pandemic of COVID-19, the Medical Waste Containers market was affected much. It changes the growth rate graph slightly in the Medical Waste Containers market. Increasing disease and number of patients and their increased medical waste anticipated the market growth in this current pandemic. Apart from that, the rising of the medical sector across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
Geographically, The Medical Waste Containers Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Sharps Compliance, Inc., Henry Schein, Inc., BD, Medtronic, Daniels Health, Bemis Manufacturing Company, Bondtech Corporation, Terra Universal, Inc., Thermo Fisher Scientific, Inc., EnviroTain, LLC, MAUSER Group, and Becton, Dickinson and Company among others.
The Global Medical Waste Containers Market Has Been Segmented into:
Global Medical Waste Containers Market: By Product
Global Medical Waste Containers Market: By Type of Waste
Global Medical Waste Containers Market: By End-Use
Global Medical Waste Containers Market: By Region