Medical Containers market is projected to record more than 5% growth rate during the forecast period and expected to reach US$ 2 Bn by 2031. Medical waste containers are defined by specific colors and labels to make them distinguishable from others.
Medical waste is a solid or liquid waste generated during the diagnosis, treatment, and immunization of humans or animals from health facilities such as hospitals, pharmaceuticals, nursing homes, medical offices, and others.
Medical waste containers are used by waste generators to collect waste generated by health care facilities and are available in different designs depending upon the type of waste to be collected. The growing demand for medical waste containers is mainly attributed to the rising number of hospitals in developing countries.
What is Driving Demand for Medical Containers?
The medical waste containers are used to collect medical waste related to organs, tissues, body parts, non-viable fetuses, placentas, blood, bodily fluids, and other hazardous wastes generated from hospitals, nursing homes, pharmaceutical research organizations, pharmaceutical companies, and among others.
The rising incidence of Hospital Acquired Infections (HAIs) due to a lack of sanitation and precaution is one of the major factor drive the growth of medical containers market.
Another important factor for the market growth has been the increasing number of surgeries occurring across the globe. The medical waste created from these surgeries need proper disposable container, because of which the demand for medical waste containers has been growing.
In addition to this, increasing number of geriatric population is also a key factor that is projected to drive the development of the global market in the coming years of the forecast period. Older people need more medical attention and generate comparatively higher medical waste. Thus, the demand for medical containers is greater to cater to their healthcare demands.
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Impact of COVID-19 on Medical Containers Market
In 2019, SARS-CoV-2 commonly known as 2019 novel coronavirus (COVID-19) has been declared as pandemic by the World Health Organizations (WHO). The number of persons infected with the coronavirus disease (COVID-19) is continuously rising throughout the world.
With around 70% of asymptomatic Coronavirus patients affected patients home quarantined, there could be an alarming rise in the spread of the infection if the bio-medical waste and the garbage of the quarantined person is not dealt with properly. In these circumstances, waste management, including of hazardous, medical, and household waste is of extreme importance.
Amid the pandemic outbreak, many types of additional medical and hazardous waste are generated including infected masks, gloves, syringes, samples, and other protective equipment, drain bags, urine bags, body fluid or blood-soaked tissues/cotton, empty ampules etc.
The outbreak of COVID-19 has increased the market growth by nearly 2%-4% in Q1-Q4 2020 and is projected to similar growth in the coming quarters of 2021.
US Demand Outlook for Medical Containers
US is expected to account for the largest share in the North America medical containers market during the forecast period, owing to increase in the number of surgeries and healthcare workers in the country. Moreover, the COVID-19 pandemic has burdened U.S. already stressed waste management system.
The amount of COVID-19 related bio-medical waste has been raised exponentially amid COVID-19 pandemic.
Major market players in the country are taking initiatives towards use of medical waste containers by offering innovations and modifications. The medical waste is predominately regulated by the states rather than by the U.S. Environmental Protection Agency (EPA).
The agency is continuously taking initiatives to increase the capacity of healthcare waste treatment. The rise in initiatives from government and local organizations towards waste management in the country is expected to drive the growth of U.S. medical containers market.
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China Demand Outlook for Medical Containers
The China’s healthcare systems are burdened following the spread of COVID-19 in 2020. The country has experienced a substantial increase in medical waste amid coronavirus outbreak. According to Chinese government, prior to the pandemic, Wuhan’s daily waste production was 45 tons, but the number soared to 247 tons per day during the outbreak – around six times higher.
China officially stipulated general waste produced from patients with infectious diseases as medical waste, and also the general waste produced by suspected patients with an infectious disease should also be stipulated as medical waste. The rise in waste product due the the mandimic has increded the demnd for medical container market in China.
Who are the Key Medical Containers Vendors?
Some of the leading vendors offering medical containers products include
Cardinal Health, Sharps Compliance, Inc., and among others.
These vendors have adopted various key strategies, to increase their customer base locally and globally. The vendors are focusing on product innovation and strategic partnerships with the regional vendors to collaborate for offering advanced medical containers to customers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Product:
Chemotherapy Containers
Biohazardous Medical Waste Containers
Resource Conservation and Recovery Act (RCRA) Containers
