Biohazard Bags Market to Witness CAGR of 6% (2022-2028) Due to the Growing Awareness Regarding Disposing Biomedical Waste and Pharmaceutical Contaminants| UnivDatos Market Insights

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NOIDA, India, Nov. 23, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Biohazard Bags Market was valued at USD 350 million in 2020 is expected to grow at a CAGR of 6% from 2022-2028. The analysis has been segmented into Capacity Type (Less Than 15 Gallon, 16 Gallon-30 Gallon, and Above 30 Gallon); Material Type [Polypropylene, Polyethylene, Plastic, LDPE (Low-Density Polyethylene), High demand polyethylene, and Other]; Application (Highly infectious, Other Infectious, Sharps, Chemical and Pharmaceutical, General Healthcare Waste, and Others); End-User (Hospitals, Clinics, Diagnostic Laboratories, Pharmaceutical/Research Laboratories, and Others); Region/Country.

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The Biohazard Bags market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Biohazard Bags market. The Biohazard Bags market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Biohazard Bags market at the global and regional levels.

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Market Overview

The demand for the biohazard bags market is rising due to the increasing prevalence of chronic disease which significantly boosts the patient population around the globe. Various companies are focusing on advanced and innovative plastic bags for controlling the population and managing the hospital's waste as well.  For instance, in February 2021, The Justrite Safety Group, based in Illinois, USA, introduced a new line of poly waste container bags. These bags are designed to identify biohazard and infectious linen medical waste and would be offered in two colors- red for biohazard material handling and yellow for infectious linen. Additionally, it is projected that the expanding urbanization in emerging nations and the growing burden of biomedical waste will catalyze the market demand throughout the projection period. Owing to these glaring statistics the demand for biohazard bags is anticipated to grow in the forthcoming years as they are strong for a sharp object as waste from hospitals and eco-friendly as well. Moreover, rising awareness regarding the benefits of hospital waste management is fueling the demand for the biohazard bags market. Furthermore, the increased elderly population and the prevalence of better sales channels are expected to drive the market for biohazard bags market in the coming years.

Some of the major players operating in the market include 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. LT.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Due to the lockdowns that were imposed across important economies, the COVID-19 pandemic has significantly impacted global industrial production. The rising preference for a healthy and active lifestyle, combined with increased awareness about immunity as a result of the COVID 19 outbreak, is expected to drive product demand even higher. This is likely to increase the market penetration of botanical ingredients. The spread of the COVID-19 pandemic in developing countries has had a significant impact on the dynamics of the international spice trade. However, food and beverage retail sales increased significantly in the second quarter of 2020. In anticipation of COVID-19 lockdowns, consumers preferred to stock up on essential products. These key factors contributed to a surge in demand for botanical ingredients such as spices.

The global Biohazard Bags market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• 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.
• 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.

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Biohazard Bags Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
• Rest of the World

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 (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. Geographically, 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.

The major players targeting the market include

• 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

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Biohazard Bags Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Biohazard Bags market?
• Which factors are influencing the Biohazard Bags market over the forecast period?
• What are the global challenges, threats, and risks in the Biohazard Bags market?
• Which factors are propelling and restraining the Biohazard Bags market?
• What are the demanding global regions of the Biohazard Bags market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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Biohazard Bags Market Report Coverage

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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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