Pune, India -- (SBWIRE) -- 05/15/2019 -- Our latest research report entitled Medical Waste Containers Market (by product (chemotherapy, pharmaceutical, biohazard medical waste, RCRA (resource conservation and recovery act) containers), usage (disposable and reusable containers), waste type (infectious, hazardous, radioactive, pathological, sharps waste and pharmaceuticals waste), medical waste generator (hospitals, clinics and physicians, pharmaceutical companies)) provides complete and deep insights into the market dynamics and growth of medical waste containers. Latest information on market risks, industry chain structure medical waste containers cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential medical waste containers growth factors. According to a report the global medical waste containers market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.

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Medical Waste Containers Market: Insight

According to the EPA (Environmental Protection Agency), Medical Waste consists of infectious waste materials produced at the healthcare facilities which include hospitals, clinics, dental practices, veterinary hospitals/clinics, blood banks, laboratories, and medical research facilities. Medical waste is generated during medical diagnosis, research, testing, prevention and treatment of diseases of either human beings or animals. Proper disposal of medical waste is the major challenge faced by the healthcare sector. There are three methods used for the disposal of medical waste such as On-site, truck service, and disposal by mail. Medical waste containers are designed to collect medical waste which is generated from healthcare facilities.

Medical Waste Containers Market: Drivers and Restraints

Stringent regulatory set by the government for the proper disposal of medical waste is one of the major key factor driving the growth of the medical waste containers market. World health organization stated that health-care waste is generated in the process of providing medical services and 10-25% of healthcare waste is Hazardous Waste. Growing the prevalence of chronic diseases is indirectly driving the demand for medical waste containers across the globe. Moreover, growing awareness regarding the safe disposal of medical waste and safety concerns of healthcare patients are also boosting the market.

Laws have been established by the Department of Transportation (DOT) and the Occupational Safety and Health Administration (OSHA) that have come up with certain guidelines for the storage and disposable techniques and the requirement of specific containers for potentially harmful wastes.

However, lack of awareness related to medical waste containers and failure to implement government regulations is anticipated to hamper the growth of the medical waste containers market over the coming years. Furthermore, innovations in the pharmaceutical waste containers by the leading key players and improvement in drug discovery to offer growth opportunities for the medical waste containers market over the forecast period.

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Medical Waste Containers Market: Regional Analysis

Among the geographies, North America accounted to be the leading contributor in the medical waste container market followed by Europe. The factors responsible for market growth are the prevalence of chronic and infectious diseases. During the treatment of this chronic disease, a considerable amount of medical waste is generated that requires proper disposal of medical waste, furthermore, the presence of key players in the North America region is also influencing the growth as well as awareness of the medical container market. Growing awareness related to medical waste management in the Asia Pacific region, growing healthcare-facilities owing to rising investment is anticipated to grow at a significant CAGR throughout the forecast period.

Medical Waste Containers Market: Segmentation

The report on global medical waste containers market covers segments such as product, usage, waste type, and medical waste generator. On the basis of product, the global medical waste containers market is categorized into chemotherapy containers, pharmaceutical containers, biohazard medical waste containers, RCRA (resource conservation and recovery act) containers, and sharps containers. On the basis of using the global medical waste containers market is categorized into disposable containers and reusable containers. On the basis of waste type, the global medical waste containers market is categorized into infectious waste, hazardous waste, radioactive waste, pathological waste, sharps waste, and pharmaceuticals waste. On the basis of the medical waste generator, the global medical waste containers market is categorized into hospitals, clinics and physicians, pharmaceutical companies, long-term care & urgent care centers and research institutes.

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Medical Waste Containers Market: Competitive Landscape

The report provides profiles of the companies in the global medical waste containers market such as Sharps Compliance, Inc., Becton, Dickinson and Company, MAUSER Group, Henry Schein, Inc., Medtronic, Daniels Health, Bemis Manufacturing Company, Bondtech Corporation and Terra Universal, Inc.

Report Findings

1. Drivers

- Stringent Regulatory Set by the Government for the Proper Disposal of Medical Waste.

- Growing Prevalences of Chronic Diseases.

- Increasing Awareness Regarding the Safe Disposal of Medical Waste and Safety Concerns of Healthcare Patients.

2. Restraints

- Lack of Awareness Related to Medical Waste Containers.

3. Opportunities

- Innovations in the Pharmaceutical Waste Containers by the Leading Key Players.