Biohazard Bags Market: Current Analysis and Forecast (2022-2028)
Emphasis on Capacity Type (Less Than 15 Gallon, 16 Gallon-30 Gallon, Above 30 Gallon); Material Type (Polypropylene, Polyethylene, Plastic, LDPE (Low-Density Polyethylene, High demand polyethylene, Other); Application (Highly infectious, Other Infectious, Sharps, Chemical and Pharmaceutical, General Healthcare Waste, Others); End-User (Hospitals, Clinics, Diagnostic Laboratories, Pharmaceutical/Research Laboratories, Others); and Region/Country
The biohazard bags market is expected to register a CAGR of approx. 6% over the period of 2022-2028. The term “biohazard bag” refers to a plastic or paper bag that is used to collect and transport infectious and biohazardous waste to another location, like a lab, for proper management and disposal. Blood, fabric, bullets, and other evidence samples cannot be analyzed immediately. The growing demand for biohazard bags can be attributed to the rise in the volume of diagnostic and lab testing samples across the globe. Thus rise in hazardous lab waste boosts the growth of the market. For instance, according to the WHO, in 2018, the total amount of waste generated by healthcare activities, about 85% is general, non-hazardous waste. The remaining 15% is considered hazardous material that may be infectious, toxic, or radioactive. Owing to the glaring statistics rise in the toxic waste due to the growing patient population across the globe is leading to the growing demand for biohazard bags and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the biohazard bags market is anticipated to grow on account of the increasing prevalence of diseases worldwide, the adoption of stringent regulatory guidelines for efficient waste management, and the expansion of the healthcare sector. However, some of the restraints in the market including the ban on the usage of plastic along with lack of proper training for disposal of medical waste are impeding the growth of this market all over the world.
Bel-Art SP Scienceware, Dynalon, Heathrow Scientific, Thermo Fisher Scientific Corporation, MiniGrip, Tufpak Inc, Cole-Parmer Instrument Company, BWS Incorporated, Abdos Labtech Pvt.Ltd., DELUXE SCIENTIFIC SURGICO PVT. LTD are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst capacity types, the less than 15 gallons category accounted for the significant share in the market in 2020”
Based on the capacity types, the biohazard bags market is segmented into less than 15 gallons, 16 gallons- 30 gallons, and above 30 gallons. The less than 15 gallons segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe owing to the use of biohazard bags for collecting stores, and transporting biohazardous waste. These bags are designed to provide superior strength, puncture and tear resistance, and long-lasting durability. In addition, these bags biohazard capacity bags deliver extreme film strength for tough products like linen, blood products, and materials contaminated with bodily fluids.
Amongst material types, the LDPE category accounted for a significant share in the market in 2020”
Based on material type, the market is fragmented into polypropylene, polyethylene, plastics, LDPE, high-demand polyethylene, and others. The LDPE segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Further, HDPE has heat resistance and ability to resist tear and wear, and it is expected to grow with the highest CAGR during the forecasted period.
Amongst application types, the sharps category accounted for a significant share in the market in 2020”
Based on application, the market is fragmented into highly infectious, other Infectious, sharps, chemical and pharmaceutical, general healthcare waste, and others. The sharps segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increase in surgeries and patient population across the globe. In addition, sharp waste is expected to increase as the volume of patient drug administration and minimally invasive surgical procedures are expected to increase significantly in the future
“Amongst end-users, the hospitals, clinics, and diagnostic laboratories category is expected to witness considerable CAGR during the forecast period”
Based on end-users, the market is fragmented into hospitals, clinics, diagnostic laboratories, pharmaceutical/research laboratories, and others. The hospitals, clinics, and diagnostic laboratories segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. To reduce the danger of infection for patients and healthcare workers, waste must be transported, collected, and kept properly. In Addition, the increasing number of patient in the hospitals are also a major factor in the growth of this segment.
“North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the biohazard bags market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the biohazard bags industry owing to the growing geriatric population along with the adoption of innovative medical technology.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Global Biohazard Bags Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global biohazard bags market were the three major steps undertaken to create and analyze the adoption of biohazard bags in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global biohazard bags market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the biohazard bags market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the biohazard bags market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report the capacity type, material type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the biohazard bags market. Further, we conducted factor analysis using dependent and independent variables such as a rise in hospital beds as the patient population is increasing globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the biohazard bags market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global biohazard bags market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the biohazard bags market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global biohazard bags market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global biohazard bags market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of capacity type, material type, application, and end-users in the global biohazard bags market.
The main objective of the Global Biohazard bags Market Study
The current & future market trends of the global biohazard bags market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the biohazard bags market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of capacity type, material type, application, and end-users.
- Define and analysis of the regulatory framework for the biohazard bags market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the biohazard bags market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the biohazard bags market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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