From a size of US$ 424.36 million in 2022 to a value of US$ 777.50 million by 2032, the biohazard bag market is anticipated to grow at a CAGR of 7%.
Increasing demand from hospitals, the rising patient population, and the rising healthcare industry will anticipate bolstering the overall biohazard bag market.
The rapidly expanding number of hospitals and pathology centers around the world, greater awareness of hospital waste disposal in avoiding the spread of diseases, advantageous traits of biohazard bags such as their exceptional excellent and strength puncture resistance, growing adoption of biohazards bags by the institutions or centers are anticipated to propel the growth of the global biohazard bags market.
The collection and transportation of biohazard waste, such as different infectious agents or materials like pathogens, human body fluids, sharp needles, microbiological pollutants, and glasses as well as gloves, blades, and masks that may contain contaminants capable of endangering the public's health as well as the environment, is done using specially made bags called biohazard bags.
The market for bio hazard bags is expected to have sales growth that is primarily driven by the rising rate of medical waste. The need for biohazard bags has increased globally as a result of the CDC's evolving specific rules regarding the collection and correct disposal of medical waste.
The use of these bags has also been accelerated by the e-commerce industry's rising pace of growth, indicating that the projection period will see significant expansion.
In order to dispose of the garbage and keep samples from becoming contaminated by the environment, biohazard bags are frequently employed in the hospital waste management process. The numerous benefits connected to biohazardous bags help to fuel the market's expansion.
| Report Attribute | Details |
|---|---|
| Bio Hazards Bag Market Value (2022) | US$ 424.36 Million |
| Bio Hazards Bag Market Anticipated Value (2032) | US$ 777.50 Million |
| Bio Hazards Bag Market Growth Rate (2022 to 2032) | 7% CAGR |
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It is anticipated that some obstacles would persist and continue to hamper the market's long-term expansion. Public health is significantly impacted by the lack of knowledge among various medical and healthcare workers on proper handling, treatment, and disposal of medical waste by kind. Although this has a negative impact on public health, many medical and healthcare workers also lack the necessary expertise when it comes to disposing of medical waste, which further restrains market expansion.
Over the next five years, a growing patient population will drive growth in the worldwide biohazard bag industry.
The biohazardous bags market expansion is being driven by the rising patient population and the prevalence of chronic diseases like cancer and heart conditions. Additionally, the aging population around the world that is plagued by age-related disorders is fueling biohazardous bags market expansion during the projection period. During the forecast period, the market has the potential to grow significantly with an increase in patient population as a result of rising health expenditures and better healthcare facilities.
For instance, lower back pain is one of the most prevalent causes of disability in adult Americans due to the high incidence of diseases in the country. The senior population's need for better medical facilities due to their illnesses is further boosting market expansion in the anticipated time frame.
The U.S. Department of Health and Human Services reports that over half of American people with arthritis experience continuous pain, and many of them receive many treatments in a hospital.
The occurrence of many respiratory disorders as well as cardiovascular illnesses is also boosting market demand. The USA is one of the most affected countries in the world by the COVID-19 scenario. Because of this, the market is currently driven to prosper despite the significant danger of developing coronavirus infections. Thus, with an increase in the number of afflicted coronavirus-infected patients, it becomes vital to work toward appropriate hospital waste management.
Principal Consultant
In the future, hospitals are predicted to have robust expansion.
A growing patient population is expected to lead to healthy growth in hospitals in the future. Most of the biohazard waste is generated by hospitals, which increases the need for biohazard bags there. According to the World Health Organization (WHO), each hospital bed generates about 0.5 kilograms of hazardous waste per day in high-income nations and about 0.2 kg per day in low-income countries.
Additionally, according to the American Hospital Association, there is now much more biohazard waste generated per bed in hospitals around the country, which has boosted the demand for biohazard bags in this area.
North America is anticipated to have a sizable market share and is anticipated to continue doing so throughout the forecast period.
Due to its rapidly aging population, highly developed healthcare system, and rising incidence of infectious and chronic diseases, North America is anticipated to account for a sizeable portion of the global market for biohazard bags. 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 is also being greatly aided by rising healthcare spending as well as the presence of an established healthcare infrastructure.
The rising number of hospital beds in developing nations, the patient population, the volume of lab testing samples and diagnostics, and public awareness of the advantages of hospital waste management in preventing the spread of infection are all factors contributing to the rising demand for biohazard bags.
Over the past few years, there has been a substantial increase in public awareness of the advantages of waste management, particularly in hospitals and the healthcare sector of developing nations. Due to the pandemic, hospitals produced more biohazard waste every day since patient and healthcare worker safety is the top priority in increasing market expansion rapidly.
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North America will drive the biohazard bag market owing to the stringent government regulation to use biohazard bags in pathological centers and hospitals. Furthermore, rising investment in the biohazard bag industry by key players boosts the market expansion in the North American region.
The Asian region is estimated to show substantial growth in the biohazard bag market due to a large number of hospital beds and a rising patient population. Furthermore, Europe and Latin America have seen lucrative growth owing to well-established healthcare infrastructure and spreading awareness about of advantages of good waste management.
Some of the key market players present in the biohazard bag industry are BioMedical Waste Solutions LLC, American Plastics Co., International Plastics Inc., Merck KGaA, Thermo Fisher Scientific Inc., Transcendia Inc., Abdos Labtech Pvt. Ltd., Champion Plastics, Medline Industries, Inc., Global Packaging Solutions and Dana Poly Inc.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 6.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered |
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| Region Covered |
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| Key Countries Profiled |
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| Key Players |
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| Customization | Available Upon Request |
The global biohazard bag market is anticipated to register a CAGR of 6.5% during the forecast period.
The global biohazard bag market is projected to be about US$ 469.2 Billion by the end of the year 2032.
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