Pune, India, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Europe sharps containers market size was valued at USD 201.0 million in 2022 and is predicted to be worth USD 209.2 million in 2023 and it is expected to touch USD 299.3 million by 2030, recording a CAGR of 5.2% during the forecast period.
The volume of clinical waste is increasing every year due to the rising rate of infections and the growing prevalence of chronic diseases across the world. Many healthcare facilities, such as hospitals, medical research labs, and pharmacies generate tons of medical waste, which needs to be handled with care to protect the human health and the environment. Countries across Europe have also implemented various policies to ensure safe management of medical waste and mandated medical institutions to follow these guidelines. These factors are anticipated to fuel the Europe sharps containers market growth.
Fortune Business Insights™ displays this information in its research report titled “Europe Sharps Containers Market, 2023-2030.”
Key Industry Development
- March 2022: Daniels Healthcare inked a new recycled plastic supplier partnership for Post-Consumer Resin (PCR) to improve its sustainability and support the local economy.
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Key Takeaways:
- To expand its regional presence in the German waste management industry, Veolia Group purchased the recycling and trash management operations of Hofmann Group S.r.l.
- Sharps Compliance Corp., a provider of waste management solutions for pharmaceutical, medical, and hazardous waste, was acquired by Aurora Capital Partners, it was announced.
- Daniels Healthcare unveiled an upgraded SHARPSGUARD eco-pharma line that combines the highest levels of quality and safety with 100% recycled materials.
- To handle the reverse logistics of medical waste, Stericycle, Inc. partnered with UPS Healthcare. As a result of the partnership, various medical waste categories, including biohazardous, sharps, and pharmaceutical wastes, were transported, handled, and disposed of.
Discover the Leading Players Featured in the Report:
Bondtech Corporations (U.S.), Daniels Sharpsmart Inc. (U.S.), Daniels - A Mauser Company (U.K.), Henry Schein, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Stericycle, Inc. (U.S.), GPC Medical Ltd. (India), BD (Becton, Dickinson and Company) (U.S.)
Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.2% |
| 2030 Value Projection | USD 299.3 Million |
| Base Year | 2022 |
| Market Size in 2023 | USD 209.2 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 92 |
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Drivers and Restraints
Heightened Awareness About Medical Waste Disposal to Boost Market Outlook
Europe sharps containers market share is expected to grow considerably due to rising awareness among end-users about proper medical waste disposal. According to a survey conducted by Health Care Without Harm Europe in 2020, 92% of respondents, out of the 25 responses received from 9 countries, had a dedicated training program on waste segregation and collection. Also, rising usage of syringes in the U.K., France, Germany, and Italy will further fuel the regional market growth.
However, high costs of these products and potential greenhouse gas emissions from medical waste can hamper market growth in the coming years.
Segmentation
Multipurpose Containers to Remain Dominant with Rising Application in Clinical Waste
In terms of product type, the market is segmented into phlebotomy containers, patient room containers, and multipurpose containers. The multipurpose containers segment is expected to account for the largest Europe sharps containers market share due to their increasing applications in clinical waste. Other factors, such as maximum safety and increased volume & space will also boost the segment’s growth.
Hospitals to Exhibit Profound Demand for Sharps Containers with Soaring Number of Surgeries
Based on waste generator, the market is segregated into pharmacies, hospitals, academic & research institutes, other healthcare providers, pharmaceutical companies, and others. The hospitals segment captured the largest market share in 2022 due to the surging number of surgeries and infections.
Reusable Containers to Gain Traction Due to Strong Demand from Hospitals
On the basis of usage, the market is classified into single-use containers and reusable containers. The reusable containers segment generated the highest revenue due to rising demand from the hospital settings.
Sharps Waste to Remain Dominant with Increasing Demand in Homecare Settings
With respect to waste type, the market is segmented into infectious waste, sharps waste, pharmaceutical waste, and non-infectious waste. The sharps waste segment held a dominant share of the Europe market in 2022. The growth is attributed to increasing demand for sharps containers in homecare settings to treat diabetic patients.
2-4 Gallons to Exhibit Profound Demand Due to Need for Disposal of Infectious Waste
With regards to size, the market is segregated into 4-8 gallons, 2-4 gallons, 1-2 gallons, and others. The 2-4 gallons segment recorded the highest revenue due to increasing need to dispose of infectious waste, such as cotton swabs and injections used at hospitals.
Based on country/sub-region, the market is studied across the U.K., Germany, Spain, Italy, France, Scandinavia, and the rest of Europe.
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By Product Type
- Multipurpose Containers
- Patient Room Containers
- Phlebotomy Containers
By Waste Generator
- Hospitals
- Other Healthcare Providers
- Pharmacies
- Academic & Research Institutes
- Pharmaceutical Companies
- Others
By Usage
- Reusable Containers
- Single-Use Containers
By Waste Type
- Sharp Waste
- Infectious Waste
- Non-Infectious Waste
- Pharmaceutical Waste
By Size
- 1-2 Gallons
- 2-4 Gallons
- 4-8 Gallons
- Others
By Country/ Sub-Region
- Germany
- U.K.
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
Report Coverage
The report offers a comprehensive analysis of the market size, share, revenue, and volume. It also provides quantitative and qualitative assessments to create a holistic view of the market. It provides an overview of the guidelines to manage hazardous and medical waste and other key industry developments. In addition to the abovementioned factors, the report also covers several other factors that have contributed to the market’s growth in recent years.
Regional Insights
Germany to Provide Promising Opportunities with Soaring Medical Waste
Germany is anticipated to contribute significantly toward the Europe market growth during the assessment period. An exponential rise in awareness of medical waste disposal has augmented the usage of sharps containers in the country. Besides, robust policies will further encourage leading companies to inject funds into the region.
France market forecast will be strong owing to the rising home-generated medical waste. The Association of Cities and Regions (ACR) in France claims that there are around 1.4 million self-managing patients in the country who produce 360 tons of home-generated medical waste every year. This factor will further boost the market’s growth in the country.
Competitive Landscape
Key Players to Focus on R&D Activities to Expand Their Product Portfolios
Prominent players operating in the market are increasing their focus on research & development activities to diversify their product portfolios. They are also taking various strategic initiatives to strengthen their distribution networks and expand their business operations.
FAQ’s
How big is the Europe Sharps Containers Market?
Europe Sharps Containers Market size was USD 209.2 Million in 2023.
How fast is the Europe Sharps Containers Market growing?
The Europe Sharps Containers Market will exhibit a CAGR of 5.2% during the forecast period, 2023-2030
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