Medical Waste Containers Market to Witness a healthy 5.1% CAGR during 2020-2026, Notes Fact.MR
Players in the medical waste containers market are innovating with the integration of medical waste management and disposal solutions through the integration of IoT and AI technologies.
"The medical waste container market is intensely competitive owing to the large number of small and large-scale enterprises involved in the industry. Strict guidelines by governments have resulted in developing countries adopting disposable product options, which will support demand in the years ahead," says the FACT.MR report.
Medical Waste Containers Market- Key Takeaways
• Sharps waste containers account for significant market growth, owing to growing disposal of syringes and infectious waste devices.
• Reusable containers are prominent, with environmentally-
• Asia Pacific is displaying potential for major growth on the back of implementation of strict measures, coupled with higher social awareness.
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Medical Waste Containers Market- Driving Factors
• High prevalence of chronic ailments and road traffic accidents, and the resultant volumes of medical waste is a major market driver.
• Favorable government policies towards medical waste management and disposal programs contribute to market prospects.
Medical Waste Containers Market- Major Restraints
• The growing fragmentation of the of the market with the influx of small-scale regional players is a challenge for market growth.
• Lack of standardization in terms of regulations in medical waste management and disposal hurts growth prospects.
COVID-19 Impact on Medical Waste Containers Market
The strong demand for hazard free disposal of healthcare waste is causing the sales of medical waste containers to soar during the pandemic. Strict regulations associated to disposal and handling of medical waste is bringing in investments into the industry. Manufacturers are pushing for precautionary measures to reduce disruption to supplies. Puncture resistant biohazard bags are in high demand owing to low costs and efficacy in function. Demand is expected to stay strong even after the end of the crisis period.
Stericycle, Covidien plc, Mauser, Daniels Health, Bemis Manufacturing Company, Sharps Compliance, Becton Dickinson & Co., and Thermo Fisher Scientific, are some of the leading players in the medical waste containers market.
PR Source- https://www.factmr.com/