Growing Practice of Safe Medical Waste Disposal by Health Care Facilities Creates Phenomenal Demand for Medical Waste Containers, Notes TMR
ALBANY, N.Y., July 8, 2021 /PRNewswire/ -- Medical waste containers are utilized across varied segments associated with the healthcare sector including clinics, hospitals, physicians' offices, long-term care and urgent care centers, pharmaceutical companies, and pharmacies. These containers are utilized to collect a broad range of medical wastes such as non-infectious waste, infectious and pathological waste, sharps waste, radioactive waste, and pharmaceutical waste.
A new study from database of Transparency Market Research highlights that the global medical waste containers market is foreseen to show expansion at a decent CAGR of 5.1% during the assessment period 2019–2027. The total valuation of market was around US$ 1.7 Bn in 2018.
Medical Waste Containers Market: Key Findings
- Growing Trend of Adopting Safe Medical Waste Disposal Practice Boosts Market Demand
Over the period of past several years, major organizations operating in the healthcare as well as related services are growing focus toward incorporating practice of safe disposal of different types of medical wastes generated in these organizations. One of the key factors driving this trend is growing awareness pertaining to the importance of safe medical disposal. As a result, there is noteworthy growth in the use of different types of medical waste containers such as biohazard medical waste containers, RCRA (resource conservation and recovery act) containers, chemotherapy containers, sharps containers, and pharmaceutical containers. Thus, the increased acceptance of this trend is likely to propel the growth of the global medical waste containers market in the years to follow.
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- Players Grow Attention toward Advancing Product Quality and Launching New Products
The companies operating in the global medical waste containers market are increasing concentration on the development and launch of innovative products. Thus, they are seen boosting their research and development activities. Apart from this, several market participants are observed engaged in strategic moves such as acquisitions and collaborations. On the back of all these activities, the market is estimated to experience upward growth curve in the years ahead.
Explore 213 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into Medical Waste Containers Market (Product - Chemotherapy Containers, Biohazard Medical Waste Containers, RCRA Containers, Pharmaceutical Containers, Sharps Containers (Patient Room Sharps Containers, Phlebotomy Sharps Containers, Multipurpose Sharps Containers); Usage - Disposable Containers, Re-usable Containers; Waste Type - Infectious and Pathological Waste, Non-infectious Waste, Radioactive Waste, Sharps Waste, Pharmaceutical Waste; Medical Waste Generator - Hospitals, Clinics and Physicians, Offices, Pharmaceutical Companies, Long term Care and Urgent Care Centers, Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/38522
Medical Waste Containers Market: Growth Boosters
- Over the period of past few years, there is significant growth in the number of people living with different critical health conditions. In parallel to this scenario, the number of healthcare service providers offering care to all such patients is increasing at rapid pace. This scenario is resulting into growth in the volume of medical waste, and thereby increasing demand for medical waste containers. Thus, we can conclude that the increased instances of chronic health issues across the globe will boost the sales of the global medical waste containers market in the years to follow.
- The market is expected to gather promising growth avenues owing to rapidly growing healthcare and pharmaceutical industries across many developed as well as developing nations across the globe.
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- Many government organizations including the Environment Protection Agency (EPA), the Drug Enforcement Administration (DEA), and the Food and Drug Administration (FDA) are continuously working to promote the practice of proper medical waste management. This factor is working in favor of the global market for medical waste containers.
- In recent few years, there is sizable growth in research and development activities in the medical field. This scenario is leading to increased volume of medical waste, which is generating extensive sales opportunities for vendors working in the global medical waste containers market.
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Medical Waste Containers Market: Well-Established Participants
The report profiles key participants working in the medical waste containers market. This list includes many names such as:
- Henry Schein, Inc.
- Sharps Compliance, Inc.
- Bemis Manufacturing Company
- Daniels Health
- Terra Universal, Inc.
- Bondtech Corporation
- EnviroTain, LLC
- Thermo Fisher Scientific, Inc.
- MAUSER Group
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
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