Global Medical Waste Containers Market | Business Insights, Trends, Outlook
Posted by Prasad on April 20th, 2021
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. Hospitals have collaborated with key market players to ensure an adequate supply of disposable containers and pharmaceutical containers. To keep pace, manufacturers are expanding their production cycles and investing in innovations to develop safe and leak-proof containers.
Key Takeaways of Global Medical Waste Containers Market Study:
“The global medical waste containers market is projected to expand moderately during the forecast period. Burgeoning quantities of medical waste has prompted market players to introduce innovative, safe and user-friendly waste disposal containers to prevent damage to the environment,” concludes a Fact.MR analyst.
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.
The key market players concentrate on creation of a strong brand through product innovation. For example, Daniels Health invested considerable funds spread over a period of five years of research and development to develop the Sharpsmart system which greatly helped reduce injuries due to sharps and needles.
Likewise, Sharps Compliance, Inc., offers a comprehensive portfolio of waste management solutions including brands such as Sharps Recovery System, MEDSAFE, TakeAway Recycle System and Sharpsecure. Its products also include the 1-quart Sharps Collection Containers.
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About the AuthorPrasad
Joined: January 19th, 2021
Articles Posted: 51
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