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The biohazard bags market share is expected to increase by USD 94.2 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.5%.
This biohazard bags market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers biohazard bags market segmentation by application (hospitals, laboratories and research centers, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The biohazard bags market report also offers information on several market vendors, including Abdos Labtech Pvt. Ltd., American Plastics Co., Antylia Scientific, BioMedical Waste Solutions LLC, Bionics Scientific Technologies Pvt. Ltd., Boen Healthcare Co. Ltd, Champion Plastics, Deluxe Scientific Surgico Pvt. Ltd., GV Health Ltd., Heathrow Scientific LLC, International Plastics Inc., Merck KGaA, New Pig Corp., SP Industries Inc., Spartech LLC, Stericycle Inc., Thermo Fisher Scientific Inc., Transcendia Inc., United States Plastic Corp., and Welpack Industries Pvt. Ltd. among others.
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The increasing number of hospitals and pathology centers is notably driving the biohazard bags market growth, although factors such as lack of awareness associated with medical waste may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the biohazard bags industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Biohazard Bags Market Driver
Key Biohazard Bags Market Trend
Key Biohazard Bags Market Challenge
This biohazard bags market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global biohazard bags market as a part of the global healthcare supplies market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the biohazard bags market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the biohazard bags market encompasses successful business strategies deployed by the key vendors. The biohazard bags market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The biohazard bags market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the biohazard bags market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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38% of the market’s growth will originate from North America during the forecast period. US, China, India, the UK, and Germany are the key markets for biohazard bags in North America. Market growth in this region will be faster than the growth of the market in APAC.
The increasing prevalence of infectious diseases, the high aging population, the presence of large market players, and the highly developed healthcare sector will facilitate the biohazard bags market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 positively impacted the biohazard bags market in North America. Furthermore, the rapid increase in the number of patients infected with COVID-19 and the highly contagious nature of the disease resulted in a large number of hospitalizations. As a result, the generation of medical, solid waste increased rapidly, which in turn increased the demand for biohazard bags. Due to rising awareness about the proper disposal of medical waste, the market is expected to witness high growth during the forecast period.
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The biohazard bags market share growth in the hospital's segment will be significant during the forecast period. The continuously expanding number of hospitals and pathology centers across the world is the primary element that is expected to fuel the expansion of the market during the forecast period. Also, the market is anticipated to experience considerable expansion in both developed and developing nations due to an increase in the aging population and strict government rules requiring healthcare companies to use biohazard bags for safety and environmental protection. This, in turn, will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the biohazard bags market size and actionable market insights on post COVID-19 impact on each segment.
Biohazard Bags Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market growth 2022-2026 |
$ 94.2 million |
Market structure |
Fragmented |
YoY growth (%) |
4.7 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abdos Labtech Pvt. Ltd., American Plastics Co., Antylia Scientific, BioMedical Waste Solutions LLC, Bionics Scientific Technologies Pvt. Ltd., Boen Healthcare Co. Ltd, Champion Plastics, Deluxe Scientific Surgico Pvt. Ltd., GV Health Ltd., Heathrow Scientific LLC, International Plastics Inc., Merck KGaA, New Pig Corp., SP Industries Inc., Spartech LLC, Stericycle Inc., Thermo Fisher Scientific Inc., Transcendia Inc., United States Plastic Corp., and Welpack Industries Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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