Medical Waste Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Medical Waste Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The medical waste containers market is poised to record a CAGR of 6.96% during the forecast period.

COVID-19 notably impacted the medical waste containers market during the pandemic. The sudden pandemic outbreak resulted in enormous amounts of medical waste and, in turn, had a crucial impact on the demand for the medical waste containers market. For instance, the data published by WHO in February 2022 mentioned that over 140 million test kits, with a potential to generate 2,600 tonnes of non-infectious waste and 731,000 liters of chemical waste had been shipped, while over 8 billion doses of vaccine have been administered globally producing 144,000 tonnes of additional waste in the form of syringes, needles, and safety boxes. Such high medical wastage due to the COVID-19 outbreak had a notable impact on the growth of the medical waste containers market. In addition, the demand for medical waste containers is expected to remain intact due to the resumption of all healthcare practices during the post-pandemic period, thereby contributing to the market's growth over the forecast period.

The factors such as the rising medical generation across the world and the increasing illness due to untreated medical wastage are expected to drive the demand for medical waste containers to effectively manage medical waste, thereby contributing to the market's growth. For instance, the data published by APM in May 2021 mentioned that 16 billion injections were administered each year globally. Similarly, the NCBI article published in April 2022 mentioned that the medical generation rate worldwide ranged from 0.14 to 6.10 kg/bed daily. The increase in medical waste generation worldwide is expected to drive the demand for medical waste containers. Also, the data published by the UN in February 2022 shows that 15% of the medical waste produced by healthcare is highly infectious, toxic, or radioactive and should be disposed of properly in separate medical waste containers with utmost care. Thus, the high risk of illness due to medical waste management is expected to drive the demand for medical waste containers for effective waste management, thereby contributing to the market's growth.

Moreover, a growing number of government-sponsored programs for proper waste management are also driving the market. For instance, in August 2022, the government of Japan and the United Nations Development Programme launched a project worth USD 11 million to properly treat the rising infectious care waste in countries such as Bangladesh, Bhutan, and Maldives. Also, in August 2021, the Government of the People's Republic of China and the United Nations Development Program launched a project to support Nepal in its healthcare waste management systems. The project provided support in the form of setting up waste treatment areas and training healthcare workers for the management of medical waste.

However, the breaking of containers leading to the spread of illness is expected to restrain the market's growth over 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.

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.

The medical waste container market is competitive and fragmented in nature. Some companies currently dominating the market are Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Bemis Manufacturing Company, Cardinal Health Inc., and Daniels Health.

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