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Medical Waste Market set to take off!

December 19th, 2018 by Howard Skolnik

Filed under: HazMat, Safety, Skolnik Newsletter

Improved government participation in designing stringent regulatory acts is aimed at proper disposal of medical waste. Across the globe, this is becoming one of the major factors for the estimated expansion of the medical waste containers market of the future. However, low awareness about specificity of medical waste disposal containers is expected to restrain the potential medical waste containers market.

The global medical waste containers market has been segmented based on product, waste, usage, medical waste generators, and region. Based on product, the global medical waste containers market has been classified into chemotherapy containers, radioactive containers, pharmaceutical containers, sharps containers, RCRA containers, and biohazard medical waste containers. The sharps containers segment has been further divided into patient room sharps containers, phlebotomy containers, and multipurpose sharps containers. In 2017, the pharmaceutical containers segment accounted for a significant market share and is expected to remain dominant during the forecast period. The significant expansion of this segment is attributable to the rise in the number of health care facilities across the globe and improved regulations of the government regarding safe disposal of pharmaceutical waste. The RCRA containers segment is expected to expand at a sluggish pace between 2018 and 2026, owing to the lack of awareness about specificity of medical waste containers for specific type of wastes in emerging countries. In terms of waste, the global medical waste market has been categorized into infectious & pathological waste, non-infectious waste, radioactive waste, sharps waste, and pharmaceutical waste. The non-infectious waste segment accounted for significant revenue and market value share in 2017 because of he emergence of numerous manufacturers of medical waste containers for the non-infectious waste category. The segment is expected to remain dominant in the near future due to the rise in awareness among the health care providers who are aiming to avoid cross contamination and infections, regarding disposal of medical waste.

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