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Biohazard Bags Market Report

RA00414

Biohazard Bags Market, by Capacity Type (Less than 15 gallon, 15 to 35 gallon, More than 35 gallon), Material (Polypropylene, Polyethylene, Plastic, High-Density Polyethylene, Others), End-use (Hospitals, Laboratories and Research Centers, Pharmaceutical and Biotech Companies, Chemical Industry, Others), Regional Analysis (North America, Europe, Asia Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA00414

Pages: 192

Oct 2020

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Biohazard Bags Market

Biohazard Bags Market Analysis:

According to a new study conducted by Research Dive, the global biohazard bags market forecast will reach $469.1 million by 2027, at a CAGR of 6.2%, increasing from $295.6 million in 2019. North America region has dominated the global market and is predicted to account for $135.5 million in 2027. Asia-Pacific is expected to grow vastly and is expected to generate a revenue of $133.4 million by 2027 growing at a CAGR of 7.0%.

Impact Analysis of COVID-19 on the Global Biohazard Market

The global biohazard bags market is predicted to witness a rapid growth rate during the outbreak of the COVID-19 pandemic owing to increasing needs to maintain hygiene. Many governments and non-government organizations including hospitals, clinics and medical laboratories from the healthcare industry are taking serious measures to prevent the spreading of the coronavirus. Thus, the demand for biohazard bags is increasing which will stimulate the global biohazard bags market growth during the forecast period.

However, increase in the number of surgical procedures, PPE kits and swab tests that are being performed regularly, across the world, are factors driving the demand for biohazard bags. Most of the hospitals, clinical labs and research centers are adopting biohazard bags for the collection of wastes such as healthcare waste, industrial waste, infectious waste, pharmaceutical lab waste, sharp waste and others. For instance, Vonco Products LLC, on 22 April 2020, offered many necessities for lab and hospital workers during the COVID-19 pandemic. They offer products like medical device covers, multi- compartment specimen collection bags and 95kPa biohazard transport bags. They make all products available in disastrous situations. All these key factors may generate investment opportunities for the biohazard bags industry in the global marketplace.

Extensive surge in alertness for medical waste management may generate remarkable revenue for the global biohazard bags market

The global biohazard bags industry is witnessing massive growth mainly because of awareness about the benefits of proper medical waste management. Biomedical waste has grown rapidly over the years among hospitals and healthcare industries and this is the first step in safety of proper disposing of biomedical waste. Additionally, according to WHO’s (World Health Organization) article published on 8 Feb 2018, biomedical waste is increasing all over the world and it is mainly from hospitals. Moreover, as per WHO, the hospital waste generated in developed countries is 0.5 kg of waste per day per hospital and for developing countries it is 0.2 per hospital per. However, medical waste management is a significant process for distancing from infectious pathogens and environmental pollution. If this kind of waste is dashed on roads or in public areas and if consumed by animals it can spread bloodborne pathogens in the entire community which can cause serious diseases like HIV (human immunodeficiency virus) or hepatitis.

Moreover, the ventures involved in biohazard bags businesses are providing bags according to the demand of customers with enhanced advanced safety features at a less expensive rate. Also, to maintain and fulfill all the requirements of customers, companies such as IndiaMART InterMESH Ltd. have integrated their biohazard bags in different ways based upon the customers demand, for example the offerings include biodegradable biohazard bags, recyclable biohazard bags, plastic multi color biohazard bags, red and yellow autoclave bags, biowaste solutions biohazard bags, printed LPDE biodegradable biohazard bags and many more in different sizes. These advancements may lead to an increase in the demand for biohazard bags in the global market.

To know more about global biohazard bags market drivers, get in touch with our analysts here.

Lack of training to properly dispose biohazard waste may restrain the growth of the global biohazard bags industry

Lack of awareness about biohazard bags and their applications, majorly in developing countries, is one of the biggest restricting factors for the growth of biohazard bags market.

The advancements in biohazard bags may create huge opportunities for the global market in the future

The demand for biohazard bags is growing at a very fast pace due to enhancement in healthcare industry and growing awareness regarding the proper medical waste management. Top key players are offering different advancements in biohazard bags to attract customers. For instance, American Plastics Company is offering customized biohazard bags for many industry-specific purposes like infectious waste bags, biohazard specimen bags, chemotherapy drug transport bags, and other bags for the healthcare industry. Biohazard bags are manufactured keeping in mind the high-class safety with leakage proof bags such as strong star seal construction with a logo to distinguish the type of waste it has inside the bag. Thus, increase in demand of global biohazard bags market offers huge opportunities in the forecast period.

To know more about Global Biohazard Bags Market Opportunities, get in touch with our analysts here.

Biohazard Bags Market, by Capacity Type:

The 15 to 30 gallons capacity type will generate a revenue of $186.1 million by 2027

Biohazard Bags Market, by Capacity Type

Source: Research Dive Analysis

The global 15 to 35 gallons market shall have the fastest market growth and it is projected to generate a revenue of $186.1 million by 2027, growing from $112.1 million in 2019. The 15 to 35 gallon biohazard bags are more efficient for collecting toxic waste, blood samples, and heavy metals. Moreover, these bags are printed with biohazard symbols that are recognized universally.

Additionally, such bags have 1.2 mil thickness to further avoid spills and leaks that further propel market growth. Moreover, the bags provide maximum film strength for tough applications such as tear and wear of the bags. Due to the coronavirus outbreak, there is a rapid increase in heavy and toxic medical waste. Thus, increasing volume of toxic and infectious medical waste will propel the segmental expansion and eventually foster the market growth.

Biohazard Bags Market, by Material Type:

The global polyethylene sub-segment for biohazard bags market will have the highest market share

Biohazard Bags Market, by Material Type

Source: Research Dive Analysis

The polyethylene sub-segment of the biohazard bags market will have the fastest growth and it is projected to surpass $124.3 million by 2027, increasing from $74.4 million in 2019; this growth is majorly attributed to the number of patients growing across the globe due to the pandemic. Polyethylene bags are majorly used to safely collect and dispose of hazardous medical waste such as linen, blood products, and materials contaminated with bodily fluids.

Biohazard Bags Market, by End-use:

The hospitals and clinics sub-segment will have significant growth in the global biohazard bags market mainly because of the rising number of patients

Biohazard Bags Market, by End-use

Source: Research Dive Analysis

The hospitals and clinics sub segment accounted for the largest market value in the year 2019 that valued for $118.5 million and is projected to be the fastest growing segment in the forecast period accounting for $195.1 million. For instance, as per an article published by the WHO (World Health Organization) in February 2018, around 16 billion injections are administered across the globe annually. Moreover, various types of medical wastes are generated in every department of a hospital, such as janitorial & housekeeping staff, infectious disease units, surgical suites, and many others. Such factors are expected to surge the demand for biohazard bags, which will ultimately raise the global market, in the forecast years.

Regional Insights:

North America region has a lucrative market and it will reach up to $135.5 million by the end of 2027 majorly due to the number of geriatric patients growing in the region

Regional Insights

Source: Research Dive Analysis

The North America biohazard bags market accounted for $88.3 million in 2019 and is projected to register a revenue of $135.5 million by 2027 growing at a CAGR of 5.70%. The extensive growth of the North America biohazard bags market is mainly driven by key factors such as heavy investments by market players along with the importance of proper disposal of medical waste. Asia-Pacific is anticipated to drive the market growth during the projected timeframe, Asia-Pacific accounted for $79.0 million in 2019 and is anticipated to reach $133.4 million by the end of 2027, growing at a CAGR of 7.0%. This growth is majorly driven owing to the number of patients growing due to COVID-19 and increasing awareness among the people about the proper disposal of the medical waste.

Competitive Scenario in the Global Biohazard Bags Market:

The advanced product development coupled with mergers & acquisitions are the frequent strategies followed by the significant market players

Competitive Scenario in the Global Biohazard Bags Market

Source: Research Dive Analysis

Some of the leading biohazard bags market players include International Plastics Inc, SP Bel-Art, Thermo Fisher Scientific, Transcendia, Daniels Health, BioMedical Waste Solutions, LLC., Stericycle, Abdos Labtech Private Limited and VEOLIA. Biohazard bags market players are focusing on merger & acquisition and advanced product developments. These are the effective strategies followed by startups as well as established organizations. For instance, in january 2020, Veolia has agreed to acquire Alcoa USA Corporation’s Hazardous Waste Treatment plant located in Arkansas to expand their waste treatment business in North America. Through this acquisition, the company aimed to enhance the product portfolio and strengthen the waste treatment and recycling business across the North America region.

Porter’s Five Forces Analysis for Biohazard Bags Market:

  • Bargaining Power of Suppliers: The biohazard bags suppliers are moderate in number, and the demand for the biohazard bags is much higher. Thus, the bargaining power of suppliers is moderate.

Thus, the bargaining power of the supplier is Moderate

  • Bargaining Power of Buyer: The rising demand for biohazard bags due to the rising awareness about the proper disposal of medical waste in the developing as well as developed countries, results in low bargaining power of the buyer.

Thus, the bargaining power of the buyer is Low

  • Threat of New Entrants: The companies who are planning to enter into the biohazard bags market need to follow various regulations and standards laid by the governments and the WHO. Additionally, the investment cost is huge due to which the threat of new entrants is Moderate.

Thus, the threat of the new entrants is Moderate

  • Threat of Substitutes: There are no alternatives for the proper disposal of medical waste apart from biohazard bags or containers. Due to the lack of alternatives the threat of substitutes is low.

Thus, the threat of substitutes is Low

  • Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, as various companies are taking new initiatives in order to extend their global presence. The competitive rivalry in high.

Competitive Rivalry in the Market: High

Aspect

Particulars

Historical Market Estimations

2018-2019

Base Year for Market Estimation

2019

Forecast timeline for Market Projection

2020-2027

Geographical Scope

North America, Europe, Asia-Pacific, LAMEA

Segmentation by Capacity Type

  • Less than 15 Gallons
  • 15 to 35 Gallons
  • More than 35 Gallons

Segmentation by Material Type

  • Polypropylene
  • Polyethylene
  • Plastic
  • High Density Polyethylene
  • Others

Segmentation by End-use

  • Hospitals & Clinics
  • Home & Ambulatory Services
  • Pharmaceutical & Biopharmaceutical Industries

Key Countries Covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Latin America, Middle East, Africa

Key Companies Profiled

  • International Plastics Inc
  • SP Bel-Art
  • Thermo Fisher Scientific
  • Transcendia
  • Daniels Health
  • BioMedical Waste Solutions, LLC.
  • Stericycle
  • Abdos Labtech Private Limited
  • VEOLIA.

FREQUENTLY ASKED QUESTIONS?
 

A. The global biohazard bags market size was over $295.6 million in 2019 and is projected to reach $469.1 million by 2027.

A. Stericycle, Abdos Labtech Private Limited and VEOLIA., are some of the key players in the global biohazard bags Market.

A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. Asia-pacific biohazard bags market is anticipated to grow at 7.0% CAGR during the forecast period.

A. Geographic expansion, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. VEOLIA and International Plastic Inc companies are investing more on R&D activities for developing new products and technologies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. Capacity type trends
2.3. Material type trends
2.4. End-use trends

3. Market Overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Market value chain analysis
3.9. Strategic overview

4. Biohazard Bags Market, by Capacity Type 

4.1. Less than 15 gallon

4.1.1. Market size and forecast, by region, 2019 - 2027
4.1.2. Comparative market share analysis, 2019 & 2027

4.2. 15 to 35 gallon

4.2.1. Market size and forecast, by region, 2019 - 2027
4.2.2. Comparative market share analysis, 2019 & 2027

4.3. More than 35 gallon

4.3.1. Market size and forecast, by region, 2019 - 2027
4.3.2. Comparative market share analysis, 2019 & 2027

5. Biohazard Bags Market, by Material Type 

5.1. Polypropylene

5.1.1. Market size and forecast, by region, 2019 - 2027
5.1.2. Comparative market share analysis, 2019 & 2027

5.2. Polyethylene

5.2.1. Market size and forecast, by region, 2019 - 2027
5.2.2. Comparative market share analysis, 2019 & 2027

5.3. Plastic

5.3.1. Market size and forecast, by region, 2019 - 2027
5.3.2. Comparative market share analysis, 2019 & 2027

5.4. High-Density Polyethylene (HDPE)

5.4.1. Market size and forecast, by region, 2019 - 2027
5.4.2. Comparative market share analysis, 2019 & 2027

5.5. Others

5.5.1. Market size and forecast, by region, 2019 - 2027
5.5.2. Comparative market share analysis, 2019 & 2027

6. Biohazard Bags Market, by End-use 

6.1. Hospitals & Clinics

6.1.1. Market size and forecast, by region, 2019 - 2027
6.1.2. Comparative market share analysis, 2019 & 2027

6.2. Home & Ambulatory Care

6.2.1. Market size and forecast, by region, 2019 - 2027
6.2.2. Comparative market share analysis, 2019 & 2027

6.3. Pharmaceutical & Biopharmaceutical Industries

6.3.1. Market size and forecast, by region, 2019 - 2027
6.3.2. Comparative market share analysis, 2019 & 2027

7. Biohazard Bags Market, by Region

7.1. North America

7.1.1. Market size and forecast, by capacity type, 2019 - 2027
7.1.2. Market size and forecast, by material type, 2019 – 2027
7.1.3. Market size and forecast, by end-use, 2019 - 2027
7.1.4. Market size and forecast, by country, 2019 - 2027
7.1.5. Comparative market share analysis, 2019 & 2027
7.1.6. U.S.

7.1.6.1. Market size and forecast, by capacity type, 2019 - 2027
7.1.6.2. Market size and forecast, by material type, 2019 – 2027
7.1.6.3. Market size and forecast, by end-use, 2019 - 2027
7.1.6.4. Comparative market share analysis, 2019 & 2027

7.1.7. Canada

7.1.7.1. Market size and forecast, by capacity type, 2019 - 2027
7.1.7.2. Market size and forecast, by material type, 2019 – 2027
7.1.7.3. Market size and forecast, by end-use, 2019 - 2027
7.1.7.4. Comparative market share analysis, 2019 & 2027

7.1.8. Mexico

7.1.8.1. Market size and forecast, by capacity type, 2019 - 2027
7.1.8.2. Market size and forecast, by material type, 2019 – 2027
7.1.8.3. Market size and forecast, by end-use, 2019 - 2027
7.1.8.4. Comparative market share analysis, 2019 & 2027

7.2. Europe

7.2.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.2. Market size and forecast, by material type, 2019 – 2027
7.2.3. Market size and forecast, by end-use, 2019 - 2027
7.2.4. Market size and forecast, by country, 2019 - 2027
7.2.5. Comparative market share analysis, 2019 & 2027
7.2.6. Germany 

7.2.6.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.6.2. Market size and forecast, by material type, 2019 – 2027
7.2.6.3. Market size and forecast, by end-use, 2019 - 2027
7.2.6.4. Comparative market share analysis, 2019 & 2027

7.2.7. UK

7.2.7.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.7.2. Market size and forecast, by material type, 2019 – 2027
7.2.7.3. Market size and forecast, by end-use, 2019 - 2027
7.2.7.4. Comparative market share analysis, 2019 & 2027

7.2.8. France

7.2.8.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.8.2. Market size and forecast, by material type, 2019 – 2027
7.2.8.3. Market size and forecast, by end-use, 2019 - 2027
7.2.8.4. Comparative market share analysis, 2019 & 2027

7.2.9. Spain

7.2.9.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.9.2. Market size and forecast, by material type, 2019 – 2027
7.2.9.3. Market size and forecast, by end-use, 2019 - 2027
7.2.9.4. Comparative market share analysis, 2019 & 2027

7.2.10. Italy 

7.2.10.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.10.2. Market size and forecast, by material type, 2019 – 2027
7.2.10.3. Market size and forecast, by end-use, 2019 - 2027
7.2.10.4. Comparative market share analysis, 2019 & 2027

7.2.11. Rest of Europe

7.2.11.1. Market size and forecast, by capacity type, 2019 - 2027
7.2.11.2. Market size and forecast, by material type, 2019 – 2027
7.2.11.3. Market size and forecast, by end-use, 2019 - 2027
7.2.11.4. Comparative market share analysis, 2019 & 2027

7.3. Asia Pacific

7.3.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.2. Market size and forecast, by material type, 2019 – 2027
7.3.3. Market size and forecast, by end-use, 2019 - 2027
7.3.4. Market size and forecast, by country, 2019 - 2027
7.3.5. Comparative market share analysis, 2019 & 2027

7.3.6. China

7.3.6.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.6.2. Market size and forecast, by material type, 2019 – 2027
7.3.6.3. Market size and forecast, by end-use, 2019 - 2027
7.3.6.4. Comparative market share analysis, 2019 & 2027

7.3.7. India 

7.3.7.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.7.2. Market size and forecast, by material type, 2019 – 2027
7.3.7.3. Market size and forecast, by end-use, 2019 - 2027
7.3.7.4. Comparative market share analysis, 2019 & 2027

7.3.8. Japan  

7.3.8.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.8.2. Market size and forecast, by material type, 2019 – 2027
7.3.8.3. Market size and forecast, by end-use, 2019 - 2027
7.3.8.4. Comparative market share analysis, 2019 & 2027

7.3.9. Australia 

7.3.9.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.9.2. Market size and forecast, by material type, 2019 – 2027
7.3.9.3. Market size and forecast, by end-use, 2019 - 2027
7.3.9.4. Comparative market share analysis, 2019 & 2027

7.3.10. South Korea

7.3.10.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.10.2. Market size and forecast, by material type, 2019 – 2027
7.3.10.3. Market size and forecast, by end-use, 2019 - 2027
7.3.10.4. Comparative market share analysis, 2019 & 2027

7.3.11. Rest of Asia Pacific

7.3.11.1. Market size and forecast, by capacity type, 2019 - 2027
7.3.11.2. Market size and forecast, by material type, 2019 – 2027
7.3.11.3. Market size and forecast, by end-use, 2019 - 2027
7.3.11.4. Comparative market share analysis, 2019 & 2027

7.4. LAMEA

7.4.1. Market size and forecast, by capacity type, 2019 - 2027
7.4.2. Market size and forecast, by material type, 2019 – 2027
7.4.3. Market size and forecast, by end-use, 2019 - 2027
7.4.4. Market size and forecast, by country, 2019 - 2027
7.4.5. Comparative market share analysis, 2019 & 2027
7.4.6. Latin America  

7.4.6.1. Market size and forecast, by capacity type, 2019 - 2027
7.4.6.2. Market size and forecast, by material type, 2019 – 2027
7.4.6.3. Market size and forecast, by end-use, 2019 - 2027
7.4.6.4. Comparative market share analysis, 2019 & 2027

7.4.7. Middle East 

7.4.7.1. Market size and forecast, by capacity type, 2019 - 2027
7.4.7.2. Market size and forecast, by material type, 2019 – 2027
7.4.7.3. Market size and forecast, by end-use, 2019 - 2027
7.4.7.4. Comparative market share analysis, 2019 & 2027

7.4.8. Africa

7.4.8.1. Market size and forecast, by capacity type, 2019 - 2027
7.4.8.2. Market size and forecast, by material type, 2019 – 2027
7.4.8.3. Market size and forecast, by end-use, 2019 - 2027
7.4.8.4. Comparative market share analysis, 2019 & 2027

8. Company Profiles

8.1. International Plastics Inc

8.1.1. Business overview
8.1.2. Financial performance
8.1.3. Product portfolio
8.1.4. Recent strategic moves & developments
8.1.5. SWOT analysis

8.2. SP Bel-Art 

8.2.1. Business overview
8.2.2. Financial performance
8.2.3. Product portfolio
8.2.4. Recent strategic moves & developments
8.2.5. SWOT analysis

8.3. Thermo Fisher Scientific

8.3.1. Business overview
8.3.2. Financial performance
8.3.3. Product portfolio
8.3.4. Recent strategic moves & developments
8.3.5. SWOT analysis

8.4. Transcendia

8.4.1. Business overview
8.4.2. Financial performance
8.4.3. Product portfolio
8.4.4. Recent strategic moves & developments
8.4.5. SWOT analysis

8.5. Daniels Health 

8.5.1. Business overview
8.5.2. Financial performance
8.5.3. Product portfolio
8.5.4. Recent strategic moves & developments
8.5.5. SWOT analysis

8.6. BioMedical Waste Solutions, LLC. 

8.6.1. Business overview
8.6.2. Financial performance
8.6.3. Product portfolio
8.6.4. Recent strategic moves & developments
8.6.5. SWOT analysis

8.7. Stericycle 

8.7.1. Business overview
8.7.2. Financial performance
8.7.3. Product portfolio
8.7.4. Recent strategic moves & developments
8.7.5. SWOT analysis

8.8. Abdos Labtech Private Limited 

8.8.1. Business overview
8.8.2. Financial performance
8.8.3. Product portfolio
8.8.4. Recent strategic moves & developments
8.8.5. SWOT analysis

8.9. VEOLIA

8.9.1. Business overview
8.9.2. Financial performance
8.9.3. Product portfolio
8.9.4. Recent strategic moves & developments
8.9.5. SWOT analysis

 

Analyst Review:

Biohazard waste or biomedical waste is any disposed material that contains potentially infectious substances such as human bodily fluids, pathological, microbiological, and animal waste. A proper care must be given to sharp waste like glass slides, IV tubes, needles, etc. which can cause injury and infections during handling.

Biohazard bags are specially designed to collect biomedical waste including animal, microbial, pathological waste & human bodily fluids, which needs to be disposed properly. In addition, biohazard bags protect the person handling the sample and prevents contamination of samples. These bags can be made of plastic, polyethylene, polypropylene, and other material.

COVID-19 Impact on the Global Industry

The global biohazard bags market is anticipated to witness a robust growth during the COVID-19 pandemic due to the growing needs to maintain hygiene. The demand for biohazard bags is growing as there is a rise in number of hospital beds, PPE kits, surgical procedures, and swab tests are performed regularly in the pandemic crisis. Many hospitals, research centers, and clinical labs are adopting the use of biohazard bags to collect of wastes such as infectious waste, healthcare waste, pharmaceutical lab waste, and many among others.

For instance, in April 2020, Vonco Products LLC announced to offer many necessities for hospital and lab workers during the COVID-19 pandemic. Some of the products offered by the company include medical device covers, 95kPa biohazard transport bags, and multi-compartment specimen collection bags.

Key Developments in the Global Market

The key industry players are implementing various business tactics & growth strategies such as partnerships, advancements, and product launches to maintain a robust position in the overall market, which is subsequently helping the biohazard bags market to grow at a rapid pace.

In June 2019, Sharp Compliance, Inc. announced the launch of Hazardous Drug Spill Control Kit, which is a USP <800> compliant spill kit especially designed for the cleanup of chemotherapy and other HD (hazardous drugs) spills.

Moreover, many players are offering customized biohazard bags for various purposes such as biohazard specimen bags, infectious waste bags, drug transport bags, and others. For instance, American Plastics Company offers customized biohazard bags for all these purposes. These leakage proof bags are manufactured by the company by keeping in mind the high-class safety such as strong star seal construction.

Forecast Analysis of Biohazard Bags Market

Global biohazard bags market is anticipated to witness a noteworthy growth over the forecast period due to its growing usage in healthcare industry and the rising demand for proper waste management. In addition, innovative and new advancements in biohazard bags for various industry specific purposes are expected to create enormous opportunities for the global market growth by 2027. However, lack of training and awareness related to biohazard bags are likely to hamper the market growth in the upcoming years.

An increase in awareness and alertness for medical waste management is the major factor estimated to boost the growth of the global biohazard bags market in the forecast period. Research Dive in its newly published report anticipates that the biohazard bags market will grow at a CAGR of 6.2% from 2020 to 2027. The North America region is anticipated to subjugate the global market throughout the forecast, owing to heavy investments by major market players in the region. The key players functioning in the global industry include SP Bel-Art, International Plastics Inc., Thermo Fisher Scientific, Daniels Health, Transcendia, BioMedical Waste Solutions, LLC, Abdos Labtech Pvt. Ltd., Stericycle, and VEOLIA.

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