Medical Waste Containers Market Size (2024 - 2029)

Medical Waste Containers Market Analysis

The Medical Waste Containers Market size is estimated at USD 1.98 billion in 2024, and is expected to reach USD 2.98 billion by 2029, growing at a CAGR of 8.51% during the forecast period (2024-2029).

COVID-19 notably impacted the medical waste containers market during the pandemic. The sudden pandemic outbreak resulted in enormous amounts of medical waste and, in turn, had a crucial impact on the demand for the medical waste containers market. For instance, the data published by WHO in February 2022 mentioned that over 140 million test kits, with a potential to generate 2,600 tonnes of non-infectious waste and 731,000 liters of chemical waste had been shipped, while over 8 billion doses of vaccine have been administered globally producing 144,000 tonnes of additional waste in the form of syringes, needles, and safety boxes. Such high medical wastage due to the COVID-19 outbreak had a notable impact on the growth of the medical waste containers market. In addition, the demand for medical waste containers is expected to remain intact due to the resumption of all healthcare practices during the post-pandemic period, thereby contributing to the market's growth over the forecast period.

The factors such as the rising medical generation across the world and the increasing illness due to untreated medical wastage are expected to drive the demand for medical waste containers to effectively manage medical waste, thereby contributing to the market's growth. For instance, the data published by APM in May 2021 mentioned that 16 billion injections were administered each year globally. Similarly, the NCBI article published in April 2022 mentioned that the medical generation rate worldwide ranged from 0.14 to 6.10 kg/bed daily. The increase in medical waste generation worldwide is expected to drive the demand for medical waste containers. Also, the data published by the UN in February 2022 shows that 15% of the medical waste produced by healthcare is highly infectious, toxic, or radioactive and should be disposed of properly in separate medical waste containers with utmost care. Thus, the high risk of illness due to medical waste management is expected to drive the demand for medical waste containers for effective waste management, thereby contributing to the market's growth.

Moreover, a growing number of government-sponsored programs for proper waste management are also driving the market. For instance, in August 2022, the government of Japan and the United Nations Development Programme launched a project worth USD 11 million to properly treat the rising infectious care waste in countries such as Bangladesh, Bhutan, and Maldives. Also, in August 2021, the Government of the People's Republic of China and the United Nations Development Program launched a project to support Nepal in its healthcare waste management systems. The project provided support in the form of setting up waste treatment areas and training healthcare workers for the management of medical waste.

However, the breaking of containers leading to the spread of illness is expected to restrain the market's growth over the forecast period.

Medical Waste Containers Industry Segmentation

As per the scope of the report, medical waste containers are used to contain organs, tissues, body parts, non-viable fetuses, placentas, blood, bodily fluids, and other hazardous wastes generated from hospitals, pharmaceutical research organizations, and pharmaceutical companies. The Medical Waste Containers Market is Segmented by Type of Waste (General Medical Waste, Infectious and Hazardous Medical Waste, Biomedical Medical Waste, and Other Types of Waste), by Product (Chemotherapy Containers, Biohazardous Medical Waste Containers, Sharps Medical Waste Containers, Resource Conservation and Recovery Act (RCRA) Containers and Other Products, by End User (Hospitals and Private Clinics, Pharmaceutical and Biotechnology Companies and CROs, Academic Research Institutes, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.