December 04, 2020
According to the research report titled ‘Biohazard Bags Market Size By Capacity Type, By Material Type, By End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report LLC, global biohazard bags market is anticipated to experience significant gains during 2020-2026.
Global biohazard bags market is poised to witness significant growth in coming years owing to increasing prevalence of COVID-19 infections, high product demand from healthcare sector, and strict government norms for effective waste management. Further, ongoing development of healthcare industry in emerging economies is further propelling the industry growth. However, low awareness regarding illnesses caused due to medical waste and lack of training for proper waste disposal are the major factors restraining the industry expansion.
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With respect to capacity, global biohazard bags market is divided into less than 15 gallons, 15 to 35 gallons and more than 35 gallons. Among these,15 to 35-gallon segment accounted for USD 80 million in 2019 and is likely to gain significant returns during the forecast period. The widespread use of these bags particularly in nursing homes, hospitals, offices and other medical facilities drives the segment growth.
In terms of material type, worldwide biohazard bags industry is fragmented into plastic, HDPE (High-Density Polyethylene), polypropylene, polyethylene, and others. Among these, HDPE segment captured 12% market share in 2019 and is expected to continue garnering strong returns in the coming years. Their segment growth is attributable to their utilization in hospitals and surgery centers for collection of infectious waste. Further, being latex free, they protect the handler from infectious contents or materials, further strengthening product demand.
Based on end-use spectrum, global biohazard bags market is bifurcated into laboratories and research centers, hospitals, pharmaceutical and biotech companies, chemical industry, and others. The others segment, comprising of pathological center, nursing homes, and long-term care centers, is expected to register 9% CAGR over the forecast period.
Major players influencing global biohazard bags market trends are SUEZ (formerly Suez Environnement), Biomedical Waste Solutions, LLC, Abdos Labtech Private Limited, Stericycle, Inc., Desco Medical India, Veolia Environnement S.A., Daniels Health, Transcendia, Inc., and Thermo Fisher Scientific, Inc.