Biohazard bags market is expected to grow by 2030 due to rising need for sanitation in medical sector. Polyethylene material type sub-segment to be highly lucrative. Market in North America region is projected to witness more growth opportunities.
NEW YORK , Aug. 25, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Biohazard Bags Market by Capacity Type (Less than 15 Gallon, 15 to 35 Gallon, and More than 35 Gallon), Material Type (Polypropylene, Polyethylene, Plastic, High-density Polyethylene, and Others), End-use (Hospitals, Clinics & Diagnostic Labs, Home & Ambulatory Care, And Pharmaceutical & Biopharmaceutical Industries), and Regional Analysis (Europe, North America, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030".
According to the report, the global biohazard bags market is expected to register a revenue of $679.1 million and grow at 6.38% CAGR during the forecast period 2022-2030.
Request an Exclusive PDF Sample of the Biohazard Bags Market (Including Tables, TOC, and Figures)
Dynamics of the Market
Drivers: The growing need for cleanliness and sanitation in the medical sector and the huge volume of medical waste produced everyday by hospitals, nursing homes, pathological laboratories, etc. are the prime factors to drive the growth of the global biohazard bags market during the 2022-2030 forecast period. Additionally, increasing emphasis on using recyclable and biodegradable products is also estimated to boost the market growth.
Opportunities: The increasing expansion of healthcare sector in countries like India, Thailand, Turkey, Malaysia, etc. and the consequent need for proper management of biomedical waste produced by hospitals, pathological laboratories, etc. are some factors anticipated to create ample growth opportunities for the global biohazard bags market by 2030.
Restraints: Lack of awareness regarding the use of biohazard bags is the major hindering factor for the market growth.
Covid-19 Impact on the Market
The outbreak of the covid-19 pandemic has witnessed a surging demand for biohazard bags from the healthcare and medical industries due to growing need for proper management of medical waste produced by hospitals, nursing homes, pathological laboratories, etc. Additionally, the rising demand for cleanliness and sanitation in the medical sector along with the growing emphasis on using biodegradable and recyclable products are some more factors to boost the growth of the global biohazard bags market. Moreover, government-imposed strict laws, after witnessing the increasing number of covid-19 patients, like wearing masks, using PPE kits, rapid corona virus tests, etc. have resulted in the generation of huge amount of medical waste every day. All these factors are expected to augment the market growth post the covid-19 catastrophic chaos.
Speak with an Expert Analyst or Schedule a call to get Post COVID-19 Impact on Biohazard Bags Market
Segments of the Market
The report has fragmented the biohazard bags market into multiple segments based on capacity type, material type, end-use, and regional analysis.
- By capacity type, the less than 15 gallons sub-segment is predicted to hold a dominant market share and gather a revenue of $552.7 million during the analysis timeframe. This immense growth rate is mainly attributed to the extensive utilization of these less than 15 gallons biohazard bags in hospitals, nursing homes, pathological labs, etc. These bags are used to collect infectious agents from labs, waste from patients, swabs, used bandages, used testing kits, etc. Moreover, these bags are made of thick plastic to avoid spills and leakages. These factors are projected to bolster the sub-segment's growth by 2030.
- By material type, the polyethylene sub-segment of the global biohazard bags market is estimated to have the fastest growth rate and generate a revenue of $176.6 million during the analysis years. Polyethylene ensures the content is well-preserved since it's strong and resistant to outside effects. Moreover, polyethylene is highly flexible, adaptable, and provides numerous ranges of thickness. These factors are anticipated to propel the sub-segment's growth by 2030.
- By end-use, the hospitals, clinics, & diagnostic lab sub-segment is expected to hold a significant market share and gather a revenue of $442.8 million during the analysis years. Most of the medical waste like used swabs, PPE kits, bandages, used testing kits, masks, etc. is generated from clinics, hospitals, diagnostic labs, etc. These factors are predicted to increase the demand for biohazard bags, thus uplifting the sub-segment's growth by 2030.
- By region, the biohazard bags market in the North America region is projected to witness better growth opportunities and grow at 5.89% CAGR by 2030 due to growing need for proper disposal of medical waste and increasing investments by key market players. Moreover, rising ageing population in the North America region is also estimated to augment the market growth by 2030.
Key Market Players
Some key biohazard bags market players are
- Daniels Health
- SP Bel-Art
- MiniGrip
- VEOLIA
- Abdos Labtech Private Limited
- Transcendia
- Stericycle
- Thermo Fisher Scientific
- International Plastics Inc.
- BioMedical Waste Solutions
- LLC
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
For example, in February 2021, Justrite Safety Group, a leading provider of safety products, launched its brand-new line of polywaste container bags that can efficiently identify infectious waste for appropriate disposal management. Inquire Here Before Buying the Full Report
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Biohazard Bags Market:
- What are the Types of Biohazard Bags and How to Handle Them?
- Global Biohazard Bags Market to Perceive Widespread Growth with Growing Generation of Biohazardous Medical Wastes
Some Trending Article Links:
- The global neuromonitoring devices market is predicted to generate $10,276.0 million in the 2022-2030 timeframe
- The global vascular disease devices market is predicted to garner $22,610.3 million in the 2021–2028 timeframe
- According to the global cosmetic dentistry market forecast, the market size is expected to reach up to $41,496.0 million by 2028
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: [email protected]
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Logo : https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg
SOURCE Research Dive
Share this article