Medical Waste Containers Manufacturers Need to Align with Sustainability Initiatives: Fact.MR
Increasing demand for pharmaceutical containers and biohazard containers to create wide opportunities for medical waste containers market
Fact.MR, Rockville MD: Fact.MR’s report on global medical waste containers market projects a steady growth in 2021, as manufacturing output sustains it position during COVID-19 impact. Being a global concern, the demand for product innovation and leak-proof containers has soared the sales for medical waste containers. Several government and private organizations has collaborated to actively engage in the production and awareness for medical waste management.
According to the study, United States is expected to lead the market owing to the rise in prevalence of chronic diseases, generating copious amount of medical waste from healthcare industry. According to the Food and Drug Administration, North America accounted for the largest producer of medical waste, followed by Asia-Pacific. Hence, bolstering the demand for medical waste containers.
Fact.MR’s study opines that the non-infectious medical waste segment accounts for major sales attributing to the high usage and disposable of medical utilities such as IV bags. However, pharmaceutical waste segment is anticipated to emerge as a potential segment backed by the large production of medical waste from the pharmaceutical companies across the globe. Hence, accelerating the medical waste containers sales.
“Following the outbreak of COVID-19, private and non-private organizations has accumulated to assist in rising the awareness about medical waste management, as incidence of infections are recorded across the globe. These initiatives have generated major growth opportunities for the manufacturers to expand their production rates,” says the Fact.MR analyst.
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- Global medical waste containers sales poised to expand at nearly 5.1% CAGR
- Non-infectious medical waste segment to account for 2/5th global market share
- Pharmaceutical waste segment expected to account for nearly 22% share
- North America anticipated to remain lucrative, attributed to the rise in infectious and chronic diseases generating copious amount of medical waste
- Asia Pacific medical waste container sales expected to expand at nearly 6.1% CAGR
- By product type, pharmaceutical containers is anticipated to remain dominant
- Rising prevalence of chronic disease, generating medical waste, to bolster the growth of medical waste containers
- Increasing volume of pharmaceutical waste from healthcare sector to foster the sales
- High demand of IV bags and other medical utilities to accelerate the sales of disposable containers
- Maximum application in medical waste disposal to drive the demand for reusable containers, stimulating medical waste container sales
- High risk of breakage and spread of diseases is likely to cause a restraint to the market growth
Discover more about the medical waste containers market with 92 figures, 36 data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4819/medical-waste-containers-market
Covidien PLC (Medtronic), Daniels Health, Sharps Compliance Inc., Becton Dickinson and Company, Thermo Fischer Scientific, Bemis Manufacturing Company and Mauser & Stericycle are some of the market players profiled by Fact.MR. The market seems to be fragmented as per the Fact.MR’s analysis and product innovation is a key strategy adopted by prominent market players.
In June 2020, Sharps Compliance collaborated with Russell 2000 and Russell 3000 indices as part of the FTSE Russell’s annual index reconstitution, which measures the performance of the small-cap segment of the U.S. equity market.
More Insights on the Medical Waste Containers Market
Fact.MR sheds an in-depth analysis on global medical waste containers market report. In order to gain a better perspective of the global market potential in the upcoming years, the market is segmented on the basis of product type (chemotherapy containers, biohazard medical waste containers, RCRA, pharmaceutical containers, and sharps containers), waste type (infectious & pathological waste, non-infectious waste, radioactive waste, sharps waste, and pharmaceutical waste), usage (disposable containers and reusable containers), medical waste generators (hospitals, clinics & physicians’ offices, pharmaceutical companies, long term care & urgent care centers, pharmacies, and others), and regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa)
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