The Global Biohazard Bags Market Projected to Grow at a CAGR of 6.38% and Generate a Revenue of $679.1 million by 2030Download Sample Reports Overview
The global biohazard bags market share is predicted to be valued at $679.1 million by 2030, surging from $396.6 million in 2021, at a noteworthy CAGR of 6.38%.
Impact Analysis of COVID-19 on the Global Biohazard Bags Market
The COVID-19 pandemic has disrupted demand, supply, import-export, and availability of biohazard bags across end-use industries. Despite the pandemic, the biohazard bags market showed great resilience. Biohazard bags are widely used across hospitals, clinics, pathological labs, blood banks, nursing home, and other facilities. Cotton, bandages, sharp objects, and laboratory waste make up the medical waste produced by hospitals, and these items can severely infect people. In order to prevent infection in both healthcare workers and patients, waste must be appropriately collected, stored, and transported. The usage of hazardous bags in hospitals for the collection and storage of medical waste increased during the COVID-19 pandemic, as the number of hazardous wastes produced per day was increased by 5-10%. These factors are expected to drive revenue growth of biohazard bags market in analysis period.
Moreover, in May 2021, U.S.-Mexico environmental program titled “Border 2025” was launched. The program was launched to protect the public health and environment with objectives to promote waste management, sustainable material, clean cities, reduce air pollution, and improve water quality. Proper waste management is one of the major factors to control environmental damage and biohazard bags are the perfect solution for this issue. As a result, need for biohazard bags is expected to increase during the forecast period, which is projected to drive the biohazard bags market growth globally.
Global Biohazard Bags Market Analysis
Biohazard bags are specially made bags that are used for the collection and transportation of biohazard trash such as different infectious agents or materials including human body fluids, pathogens, microbiological pollutants, sharp needles, and glasses along with blades, gloves, and masks which may contain contaminants capable of upsetting the public health as well as environment. Such contamination can be avoided and the handler can be protected with the use of a biohazard bag. Biohazard bags are available in different sizes as well as capacities. Biohazard bags are made of durable materials such as polyethylene. These bags have thick walls that make them strong enough to withstand wear and tear while also being leak proof. These bags can withstand high temperatures, which makes them suitable for collection as well as transportation of biohazard waste. These are the major factors expected to increase market share during the analysis period.
However, there are several limitations such as a general lack of knowledge regarding safe disposal procedures for a variety of life-threatening items and an inadequate training for correct medical waste disposal to the biohazard waste handlers. These could have a negative effect on the biohazard bags market expansion.
The rapid expansion of the biohazard bags market size is expected to be driven by the emergence of infectious diseases such as COVID-19. In hospitals, more biohazard waste was produced every day due to the pandemic as safety of patient and health workers is the top priority. Additionally, as a result of strict government rules, hospitals have begun isolating infectious waste in accordance with their established standards. Other possibilities can be found in the expansion of diagnostic and lab testing samples as well as in rising use of these services in health care facilities, hospitals, and nursing homes. This will create opportunities for the biohazard bags market to grow during the forecast period.
Global Biohazard Bags Market, Segmentation
The global biohazard bags market is segmented based on capacity type, material type, end-use, and region.
The capacity type segment is further classified into less than 15 gallon, 15 to 35 gallon, and more than 35 gallon. Among these, the less than 15 gallon sub-segment is anticipated to have a dominant market share and it is expected to be fastest growing. Less than 15 gallon sub-segment may surpass $552.7 million revenue by 2030, with an increase from $317.9 million in 2021. Less than 15 gallon biohazard bags are generally used to collect, transport, and dispose surgical waste as well as medical waste generated by hospitals, healthcare facilities, laboratories, and others. These bags are spill proof and leak proof along with that these bags can also be sealed with heat.
The material type segment is further divided into polypropylene, polyethylene, plastic, high-density polyethylene, and others. Among these, polypropylene sub-segment is anticipated to have a dominant market share and shall surpass $175 million by 2030, with an increase from $106.6 million in 2021. Polyethylene sub-segment is expected to be fastest growing during the forecast period. Polypropylene and polyethylene are the commonly used and cost effective polymers. This polymers are light weight and variety of products can be manufactured with them, such as biohazard bags, plastic bags, drain pipes, and other. Moreover, this polymers are easy to recycle.
The end-use segment is further divided into hospitals, clinics & diagnostic labs, home & ambulatory care, and pharmaceutical & biopharmaceutical industries. Among these, Hospitals, clinics & diagnostic labs sub-segment is anticipated to have a dominant market share and shall surpass $442.8 million by 2030, with an increase from $256.3 million in 2021. Most of the hazardous waste is produced by the hospitals. The waste produced in hospital can contain bodily fluids, blood, surgical waste, needles, syringes, and others. This waste is produced daily on large scale due to increasing health issues among people, need for surgery, and increasing number of accidents.
The global biohazard bags market in North America region this market generated a revenue of $126.1 million in 2021 and is projected to reach up to $207.1 million by 2030. The increased incidence of infectious diseases will increase the demand for sophisticated surgical and medical devices, which will also result in a large volume of waste products and residues. The market for biohazard bags in this area will be driven by the enormous amount of biohazard waste. The expansion of the regional market as a whole is also being greatly aided by rising healthcare spending as well as presence of an established healthcare infrastructure.
Key Players in the Global Biohazard Bags Market:
Some of the leading biohazard bags market players are
- Daniels Health
- BioMedical Waste Solutions
- International Plastics Inc.
- SP Bel-Art
- Abdos Labtech Private Limited
- Thermo Fisher Scientific.
In April 2022, Stericycle, the leading provider of medical waste management and patient engagement solutions, launched a new product SafeShield, an antimicrobial medical waste container, which is specifically designed for the storage and transportation of regulated medical waste.