Demand for Medical Waste Containers Market to Grow at a CAGR of 5.1% Through 2026

The global medical waste containers market is forecast to expand 1.4x at a CAGR of 5.1% during the forecast period (2020-2026). Medical waste disposal and management is a major concern globally. Several governmental, non-governmental and community level organizations have collaborated to assist hospitals and other healthcare institutions to manage their waste. These bodies are actively engaged in recycling, collection and disposal of medical waste. According to the Environmental Protection Agency (EPA), the United States is the leading producer of medical waste in the world. Simultaneously, an independent study undertaken by the University of Leeds in 2015 inferred that on an average, 8.4 kilograms of waste per bed per day is generated in the U.S alone. These trends have greatly contributed to the expansion of the medical waste containers market.

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The coronavirus pandemic has heightened market prospects for the medical waste containers market. As incidence of infections multiply at an alarming rate, hospitals, clinics and other healthcare settings are becoming highly saturated with regard to the number of patient admitted. As a consequence, the amount of medical waste generated has also compounded. In order to keep the hospital environment safe and sterile, medical practitioners are putting forth their requirement for medical waste containers.

Key Takeaways of Global Medical Waste Containers Market Study:

• By product type, pharmaceutical containers are anticipated to dominate the medical waste containers market. Increase in the volume of pharmaceutical waste from multiple medical waste generators is projected to drive the segment’s growth. More than 84,000 tons of waste is generated by healthcare organizations. The segment is poised to capture around one-third of the market.
• By waste type, the non-infectious medical waste segment is poised to capture greater than two-fifth of the global medical waste containers market. A rising pool of the elderly population has led to increased prevalence of chronic diseases. Therefore, usage and disposal of medical utilities such as IV bags has increased, driving the growth of the non-infectious medical waste segment.

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• Hospitals shall account for the maximum usage of medical waste containers due to the high volume of waste generated by them. It is estimated that nearly 5,000 acute care hospitals in the U.S generate around 7,000 tons of waste daily. The segment is set to capture more than two-fifth of the overall medical waste containers market during the forecast period.
• Reusable containers shall find maximum application in medical waste disposal. This is attributed to rising medical waste disposal costs incurred by hospitals and other healthcare providing institutions. The segment is projected to expand 1.5x during the forecast period.

Global Medical Waste Containers: Market Segmentation

Fact.MR has studied the global medical waste containers market with detailed segmentation on the basis of product type, waste type, usage type, medical waste generators and region.

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Global Medical Waste Containers Market Structure:

The global medical waste containers market is fragmented. Some important market players involved in the production of medical waste containers are Covidien plc (Medtronic), Sharps Compliance, Inc. Becton Dickinson and Company, Thermo Fisher Scientific, Bemis Manufacturing Company, Mauser and Stericycle among others.

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