Biohazard Bags Market size to exceed $770Mn by 2032

Biohazard Bags Market size is anticipated to surpass USD 770 million by 2032, as per a new research report announced by Global Market Insights Inc.
 

The regulatory policies issued for effective waste management during the COVID-19 pandemic are serving as a prominent driver for biohazard waste bag consumption. Government agencies are also introducing various guidelines pertaining to bag capacity and leakage during transportation, further encouraging the production of high-quality biohazard specimen transport bags.
 

Inadequate medical waste disposal training facilities act as a growth barrier

Due to the lack of timely training sessions, a majority of healthcare workers are unaware of the adverse impacts of improper medical waste disposal. This inadequacy in training regarding healthcare waste disposal practices may hinder biohazard bags industry progress to a certain extent. Despite these challenges, burgeoning government investment in public healthcare may create lucrative expansion prospects for biohazard bag developers over the estimated timeline.
 

Rise in outpatient surgical procedures to fuel demand for 15-to-35-gallon biohazard bags

Biohazard bags market share from the 15 to 35 gallon capacity segment to grow at a CAGR of 7% by 2032. This is a result of the product’s vast application scope in nursing homes, clinics, hospitals, and other healthcare facilities, owing to low leakage and other attributes. The increasing adoption of cost-cutting strategies across health systems is leading to a rise in the popularity of outpatient procedures. Such trends will contribute to the acceptance of 15-to-35-gallon biohazard bags for the disposal of blood samples, toxic waste, heavy metals, and other waste generated in ambulatory centers.

Browse key industry insights spread across 183 pages with 257 market data tables & 18 figures & charts from the report, “Biohazard Bags Market Size by Capacity (Less Than 15 Gallon, 15 To 35 Gallon, More Than 35 Gallon), By Material (Polypropylene, Polyethylene, Plastic, High-density Polyethylene {HDPE}), By End-Use (Hospitals, Laboratories and Research Centers, Pharmaceutical and Biotech Companies, Clinics & Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biohazard-bags-market
 

HDPE biohazard bags to gain traction for COVID-19 medical waste disposal applications

Biohazard bags market value from the HDPE (high-density polyethylene) material segment is likely to depict over 8.5% CAGR by 2032. This progression is driven by the strong demand for cost-effective, strong, and flexible materials for medical waste handling applications during the coronavirus crisis. Compared to alternatives such as polyethylene, HDPE is gaining becoming a more preferred option, owing to its superior tensile strength. The report claims that the introduction of relief funds for COVID-19-impacted healthcare providers will also augment the use of HDPE-based biohazard bags.
 

Emphasis on vaccine development spurs biohazard bag adoption in biotech & pharma sectors

Biohazard bags market revenue from pharmaceutical and biotech companies will cross USD 90 million by 2032. This is attributed mainly to the introduction of various funding programs for vaccine manufacturing. Citing an instance, in June 2022, Jubilant HollisterSteir was awarded funding worth USD 149 million under the U.S. government’s American Rescue Plan to boost vaccine production. Developments such as these to result in a surging amount of waste including expired, unused, and contaminated pharma products, and consequently encourage the use of biohazard bags.
 

Introduction of regulatory waste disposal guidelines to make Europe a key hub for biohazard bag development

Europe biohazard bags market is slated to hit over USD 200 million by 2032. The emergence of companies offering support for medical waste removal projects will bolster product use, especially in nations such as Germany. Due to the lack of adequate waste treatment facilities, several regulatory guidelines have also been introduced. For example, the European Commission issued guidelines for the Waste Framework Directive to ensure proper medical waste disposal. The introduction of such regulations to add impetus to regional industry outlook.
 

Strategic acquisitions among industry players to outline the competitive landscape

Cole-Parmer Instrument Company, LLC, VWR International, LLC, Medegen Medical Products, Action Health, Bel-Art Products, Desco Medical, Sharps Compliance, Inc., Transcendia, Abdos Labtech Private Limited, and Stericycle are some of the key players profiled in the market.