June 11, 2020
As per the 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 poised to witness a substantial growth through 2026.
Upsurge in the demand for biohazard bags in hospitals due to escalating coronavirus cases across the globe, coupled with extensive product usage in healthcare sector are fueling the growth of global biohazard bags market.
Biohazard waste usually differs from medical waste. Biohazard bags are used to collect biohazard waste which is possibly contaminated with infectious agents or materials and pose a threat to environment or public health.
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These bags come with several pre-printed symbols and in varied color as per the specific use. Specimen based biohazard bags are used in hospitals and laboratories to safely transfer the specimens and samples collection. These bags sometime come with an outer pouch or pocket for carrying essential paperwork and documents to go along with contents being shipped. The inherent applicability of biohazard bags for waste collection and specimen transfer will continue to fuel the product demand in the ensuing years. Moreover, several laws and guidelines imposed regarding the type of bags to be used according to the contents as well as the purpose are positively impacting the industry outlook.
Based on the capacity spectrum, 15 to 35-gallon segment amassed USD 80 million in 2019 and is expected to see modest gains in the forthcoming period. The growth can be attributed to rising demand from hospitals, nursing homes, offices and other medical facilities as it is the ideal capacity for these settings.
On the basis of material type, HDPE segment accounted for 12% market share in 2019 and will continue to see considerable growth over the forecast timeline. Widespread use of HDPE biohazard bags in surgery centers and hospitals to collect infectious waste is stimulating the segment growth. These bags are free from latex, thereby protecting the handler from infectious constituents.
Speaking of the end-use spectrum, biohazard bags market is split into pharmaceutical & biotech companies, laboratories & research centers, chemical industry, hospitals, and others. The others segment including pathological center, nursing homes, and long-term care centers, is anticipated to register a CAGR of 9% through 2026.
Considering the regional outlook, global biohazard bags market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is reckoned to show an appreciative growth in the coming years owing to well-established healthcare infrastructure in the region.
Major players operating in global biohazard bags market are Daniels Health, Biomedical Waste Solutions, LLC, Stericycle, Veolia, SUEZ, Abdos Labtech Private Ltd., Desco Medical, Transcendia, and Fisher Scientific.