Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sharps containers market generated $430.8 million in 2021, and is estimated to reach $632.8 million by 2031, witnessing a CAGR of 3.9% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, value chain, top segments, and competitive landscape. This report provides detailed information to assist market players, stakeholders, investors, and startups in determining strategies to continue growth and attain competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $430.8 million |
| Market Size in 2031 | $632.8 million |
| CAGR | 3.9% |
| No. of Pages in Report | 258 |
| Segments covered | Type, Container Size, Usage, and Region. |
| Drivers | Increase in diagnostic and clinical tests |
| Rise in strict government regulations for disposal of medical waste | |
| Opportunities | Rise in number of surgeries worldwide |
| Easy and simple structure of sharps containers, leaf proof properties, and availability of various sizes of containers | |
| Restrains | Lack of awareness about disposal of medical waste and inadequate training to hospital staff about disposal |
Covid-19 Scenario:
- The Covid-19 pandemic made a positive impact on the global sharps containers market. The demand for sharps containers increased considerably during the Covid-19 pandemic as patient room containers and multipurpose containers help in disposal of waste generated during the treatment.
- Vaccination programs surged considerably as vaccines against Covid-19 were launched by different companies in different countries. Vaccination programs generate the high amount of sharps waste. This, in turn, increased the need for sharps containers.
The research provides a detailed segmentation of the global sharps containers market based on type, container size, usage, and region. The research analyzes each segment and sub-segments for identifying the largest revenue generating and fastest-growing segments for market players, investors, and stakeholders. Market size and estimations for each segment and its sub-segments are provided in the report to help market players determine the steps to be taken for achieving the growth.
Based on type, the multipurpose containers segment held the highest share in 2021, contributing to nearly two-fifths of the total share, and is expected to continue its leadership status throughout the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 4.5% from 2022 to 2031. The report also analyzes the segments including patient room containers and phlebotomy containers.
Based on container size, the 2-4 gallons segment contributed to the highest share in 2021, accounting for more than half of the global sharps containers market, and is estimated to continue its lead in terms of revenue during the forecast period. However, the 4-8 gallons segment is expected to manifest the highest CAGR of 5.2% from 2022 to 2031. The report also analyzes the 1-2 gallons segment.
Based on usage, the reusable containers segment contributed to the largest share in 2021, accounting for nearly two-thirds of the global market, and is expected to maintain its dominance by 2031. Moreover, this segment is projected to grow at the highest CAGR of 4.4% during the forecast period. The research also discusses the single-use containers segment.
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Based on region, North America held the highest share in 2021, contributing to more than two-fifths of the global sharps containers market, and is expected to continue its dominance by 2031. However, Asia-Pacific is projected to grow at the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.
The research provides detailed analysis of leading players of the global sharps containers market. Key players analyzed in the research include Becton, Dickinson and Company, Bondtech Corporation, Bemis Health Care, EnviroTain, Cardinal Health, Harloff, GPC Medical Ltd., Stericycle, Henery Schiens, and Thermo Fisher Scientific.
The report analyzes these key players and highlights various strategies such as new product launches, partnerships, expansion, and others to raise their market penetration and strengthen their position in the market. The report offers a detailed analysis that outlines product portfolio, operating segments, business performance, and key developments of each market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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