Market Trends of Medical Waste Containers Industry
This section covers the major market trends shaping the Medical Waste Containers Market according to our research experts:
Biomedical Waste is Expected to Hold Significant Share in the Market Growth During the Forecast Period
Biomedical waste is any waste generated during the diagnosis, treatment, or vaccination of human beings or animals in research or the use of biological or health camps. The increasing biomedical wastage and the rising demand for biomedical waste containers are expected to drive the growth of the studied segment over the forecast period.
For instance, in the article published in the Journal of Family Medicine in February 2022, biomedical waste worldwide has increased by many folds, up to 50% in 2021. Additionally, the data from Central Pollution Control Board in June 2021 mentioned that the average biomedical waste generated in India was 164 tonnes per day in June 2021. Similarly, in the article published by SAGE Journal in May 2021, around 0.5 kg/ bed per day of biomedical waste was generated in high-income countries, whereas 0.2 kg/bed per day was generated in low-income countries. Such increasing biomedical waste generation is expected to drive the demand for biomedical waste containers, thereby driving the growth of the studied segment.
On the other hand, the increasing biomedical waste management programs and facilities launched by various governments and rising are expected to drive the demand for medical waste containers, thereby ultimately driving the segment's growth. For instance, in August 2021, the Indian government virtually inaugurated a decentralized biomedical waste incinerator at Buxar Municipality, Bihar. The pilot installed in Buxar is a portable, forced draft incinerator capable of handling 50 kg of biomedical waste. Also, in January 2022, Tripunithura municipality launched a biomedical waste treatment facility in Kerala, India. The medical waste, such as syringes, medicine strips, expired medicines, etc., would be collected and treated at the biomedical waste treatment plant of Kerala Enviro infrastructure.
Thus, the increasing biomedical waste and government support for biomedical waste management is expected to drive the demand for biomedical waste containers, thereby contributing to the growth of the studied segment.
North America is Expected to Hold Significant Share the Medical Waste Containers Market Over the Forecast Period
The North American region is expected to hold a significant share of the medical container market over the forecast period. Factors like high medical waste generation, increasing demand for medical waste management, and the presence of key players are expected to propel the demand for medical waste containers.
For instance, the data published by APM data in May 2021, mentioned that approximately 1 pound of medical waste was generated per hospital bed every day in the United States. The report also mentioned that in the United States alone, 923,903 staffed hospital beds produced over 5.9 million of tons medical waste every year. Similarly, the article published by TF Online Journal in 2022 mentioned that over 8.2 kg/bed per day of medical waste was generated in medical centers. Also, as per the Hospital news published in 2021 mentioned that over 68,000 tonnes of medical waste were produced in Canada in 2021 due to used masks and personal protective equipment. Such increasing medical wastage is expected to contribute to the demand for medical waste containers in North America, thereby contributing to the growth of the market.
In addition, the increasing number of hospitals in North America is also expected to drive the demand for medical waste containers, thereby fueling market growth. For instance, in the data published by the report of the American Hospital Association in 2022, there were about 6,093 hospitals in the United States in 2022. On the other hand, the increasing product launches by key market players in North America are also expected to contribute to the growth of the market. For instance, in April 2022, Grundon Waste Management launched a range of carbon-cutting clinical waste containers. These containers are used in private hospitals, clinics, research and development laboratories, universities, dental surgeries, and others.
Therefore, due to the aforesaid factors, such as increasing medical waste, the rising number of hospitals, and the presence of the key player, the North American region is expected to hold a significant share of the medical waste containers market over the forecast period, with the United States being the major market in the region.
