The outbreak of COVID-19 has substantially complemented the global biohazard bags market and is expected to further proliferate its growth over the forecast period. Biohazard bags find application in disposal of infectious waste and dead, drug transportation and specimen transportation. The recent epidemic of coronavirus has affected the globe by infecting more than 4.5 million people and killing above 290,000 people worldwide. This fast spreading epidemic has pressurized healthcare facilities to adhere to stringent safety regulations in the absence of availability of effective vaccine. Countries are importing substitute drugs from India, China and other nations to tackle the spread of coronavirus and treat the symptoms present in the patients affected by this virus. Pharmaceutical companies including Strides Pharma have gained on this opportunity and are seeing increased equity. The increased drug transportation activity along with stringent safety requirements has increased the demand for biohazard bags thus driving the market growth of these bags globally. On-going research activities on the coronavirus in different nations such as U.S, U.K, India and others requires transportation of specimens for trial and testing. The unadulterated specimen transportation requires use of biohazard bags. The rise in demand for drug and specimen transportation is propelling the growth of global biohazard bags market.
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The growing patient count in hospitals and medical care facilities has led to increased consumption of medical disposables. U.S. generates around 5 million tonnes of medical waste annually, whereas developing countries such as India produces about 0.19 million tonnes of medical waste per year. In the wake of COVID-19, Wuhan, a city of China, generated 240 tonnes of medical waste with an increase of 600%. The rise in generation medical waste has mandated the governments to apply stringent disposal regulations, thus increasing demand for biohazard bags. The disposal of dead due to coronavirus infection has also created a rise in demand for biohazard bags. Thus, the rise in disposal of infectious waste has boosted growth of global biohazard bags market.
In terms of revenue, global biohazards bags market was valued at US$ 235.22 Mn in 2018 and is anticipated to reach 366.85 Mn by 2027, growing at a CAGR of 5.7% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
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The detailed research study provides qualitative and quantitative analysis of biohazard bags market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The global biohazard bags market was valued at 235.22 Mn Mn in 2018 and is anticipated to witness a compound annual growth rate of 5.7% over the forecast period owing to rise in dead disposal and drug transport amidst the COVID-19 pandemic.
- Pathological biohazard waste held the highest market share in 2018, owing to increasing need to dispose the same so as to prevent the spread of infections and illness among masses.
- Hospitals garnered highest market share in the global biohazard bags market in 2018. The demand is attributed to stringent legislation norms outlined for safe disposal of the wastes.
- North America accounted for the maximum share in the global biohazard bags market in 2018 owing to stringent regulatory laws for waste disposal. Asia Pacific is expected to register highest CAGR over the forecast period.
- Some of the players operating in the biohazards bags market are BEAUFY GROUP LTD., BELLCROSS INDUSTRIES PVT. LTD, Bound Tree Medical(Sarnova), Cole-Parmer Instrument Company, LLC., DELUXE SCIENTIFIC SURGICO PVT. LTD, Heathrow Scientific., International Plastics Inc., LitheyInc, MEDEGEN MEDICAL PRODUCTS, SP Scienceware, Thermo Fisher Scientific Inc, TongchengTianbai Plastic Co., Ltd. and W.W. Grainger, Inc. amongst other market participants.
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Global Biohazards Bags Market:
- By Bag Color
- By Material
- Polyethylene (PE)
- Low-density polyethylene (LDPE)
- High-density polyethylene (HDPE)
- Polypropylene (PP)
- By Waste Type
- Solid Biohazardous Waste
- Sharp Biohazardous Waste
- Liquid Biohazardous Waste
- Pathological Biohazardous Waste
- By Bag Capacity
- Less than 1 kg
- 2 kg
- 5 kg
- 10 kg
- More than10 kg
- By End Users
- Diagnostic Laboratories
- Nursing Homes
- By Sales Channel
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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