Dublin, March 29, 2024 (GLOBE NEWSWIRE) -- The "Europe Sharps Containers Market Forecast to 2030 - Regional Analysis - by Product, Usage, Waste Type, Waste Generators, Container Size, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The latest industry analysis on the Europe sharps containers market reveals a robust growth trajectory, with projections estimating the market size to expand from US$ 146.20 million in 2022 to US$ 208.57 million by 2030. The compound annual growth rate (CAGR) for the market stands at 4.5% during the forecast period from 2022 to 2030.
Rising Hospitalizations Propel Demand for Sharps Containers
The demand for sharps containers in Europe is significantly fueled by the increase in hospitalizations due to the expanding burden of chronic illnesses and the surge in surgical interventions. Hospitals across Europe are adapting to the growing need for sharp waste disposal to maintain compliance with regulatory standards. The high rate of healthcare procedures and rising patient visits have escalated the requirement for single-use containers for the safe disposal of sharps waste.
Market Analysis: Sharps Containers Essential for Safe Waste Management
Surgeons and healthcare professionals extensively use sharp instruments such as needles and scalpels. This has led to a pressing need for effective disposal methods to mitigate risks associated with needlestick injuries. The market has seen an upsurge due to the heightened emphasis on waste management regulations and the development of initiatives targeting responsible disposal practices within the healthcare sector. As the global demand for surgeries grows, the accumulation of medical waste necessitates the deployment of sharps containers for appropriate waste management.
Regulatory Initiatives Strengthen Market Dynamics
In Europe, initiatives by regulatory authorities focusing on the creation of stringent yet favorable guidelines for reusable sharps containers have played a pivotal role in market evolution. Efforts are directed towards promoting environmentally friendly disposal solutions that are also cost-effective. Awareness campaigns around waste management practices, such as those by healthcare organizations, have led to the reinforcement of waste sorting, and the adoption of strategic recycling and reuse programs.
Segmentation Insight: Multipurpose and Reusable Containers Lead Market Share
The market is segmented based on various criteria including product type, usage, waste type, waste generators, container size, and distribution channel. The analysis indicates that the multipurpose containers segment and the reusable containers segment amass a major portion of the market share. When it comes to waste generators, hospitals are leading in usage due to the sheer volume of medical waste they generate. As for container size, the 1-3 gallons category prevails in the market, and medical supply companies dominate the distribution channel segment.
Geographical Dominance and Leading Market Players
Amongst the countries in Europe, Germany has emerged as the dominant market player with significant market share. The market's growth in European nations is driven by a combination of advanced healthcare systems, regulatory frameworks, and well-established waste management practices. Key players in this market include diverse companies who are focusing on innovative solutions for the collection and disposal of sharps waste.
The Europe sharps containers market is poised for further growth with the goal of enhancing patient safety, promoting environmental sustainability, and complying with stringent waste disposal regulations. The market's prospective evolution is emblematic of the healthcare sector's ongoing commitment to responsible waste management and safety.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 146.2 Million |
| Forecasted Market Value by 2030 | 208.57 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Europe |
A selection of companies mentioned in this report includes, but is not limited to:
- Sanypick Plastic SA
- Mauser Group NV
- Stericycle Inc
- Becton Dickinson and Co
For more information about this report visit https://www.researchandmarkets.com/r/esbab5
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