Selbyville, Delaware, Sept. 24, 2024 (GLOBE NEWSWIRE) --
Sharps Containers Market size will attain USD 824.2 million by 2032. Growing awareness of occupational hazards in healthcare settings is a significant factor ushering in the demand for sharps containers.
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Needle-stick injuries pose serious risks, including the transmission of bloodborne pathogens like HIV, hepatitis B, and hepatitis C. To mitigate these dangers, healthcare providers are focusing on safe disposal practices. The OSHA's data in 2024 reveals that implementing safety-engineered sharps devices and proper disposal containers can reduce needle-stick injuries by up to 80%. Global initiatives by health organizations and governments to educate healthcare workers about the importance of using sharps containers for waste management have led to widespread adoption, helping prevent injuries and ensuring safer work environments across medical facilities.
Demand for pharmaceutical sharps container
The sharps containers market from pharmaceutical containers segment will witness a noteworthy progression rate from 2024 to 2032, because of the spurring use of injectable drugs and biologics. With the growing prevalence of chronic diseases, including diabetes and autoimmune disorders, more patients require self-administered injections at home, leading to higher volumes of sharps waste. Additionally, pharmaceutical companies are focusing on ensuring proper disposal methods to comply with stringent waste management regulations. The need for safe, effective containment of sharps waste is boosting the demand for pharmaceutical sharps containers.
Single-use sharps containers to simplify waste management
The sharps containers market from single-use sharps containers segment will capture a notable revenue share by 2032, owing to the focus on infection control and reducing cross-contamination risks in healthcare settings. Single-use containers offer a safer disposal option as they are sealed and discarded after one-time use, eliminating the possibility of re-exposure to hazardous materials. This approach aligns with the growing focus on hygiene and safety, especially in the context of pandemic-related concerns. Moreover, single-use containers simplify waste management processes, making them an attractive option for hospitals, clinics, and home healthcare environments.
Rising demand for sharps containers in Europe amid health regulations
Europe sharps containers market will demonstrate a strong rate from 2024 to 2032, due to the strict medical waste disposal regulations and increasing healthcare expenditures. European Union directives on hazardous waste management and occupational safety have compelled healthcare facilities to adopt proper sharps disposal methods. Additionally, the region's aging population, along with a higher incidence of chronic diseases like diabetes, has led to increased use of injectable medications, generating more sharps waste. Public health initiatives focusing on safe medical waste disposal contribute to the rising demand for sharps containers in Europe.
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Sharps Containers Market Players
Major players in the sharps containers industry include Cardinal Health, Inc., Becton, Dickinson and Company, BondTech Corporation, BemishHealthcare, and EnviroTain, among others. Key vendors are strengthening their positions by investing in innovative designs and safety features for sharps disposal. Strategic collaborations and acquisitions help expand their geographical reach and product offerings. These firms focus on complying with stringent regulatory standards and enhancing user safety.
- In August 2023, Stericycle, Inc. launched its updated one gallon SafeDrop Sharps Mail Back and Controlled Substance Wastage containers popularly known as CsRx. These innovations offer healthcare providers an efficient way to handle sharps waste, potentially boosting Stericycle’s product portfolio and revenue.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Data collection
1.4 Forecast parameters
1.5 Data validation
1.6 Data sources
1.6.1 Primary
1.6.2 Secondary
1.6.2.1 Paid sources
1.6.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing volume of medical waste generated globally
3.2.1.2 Growing government initiatives and guidelines for medical waste management
3.2.1.3 Rising number of surgeries
3.2.2 Industry pitfalls & challenges
3.2.2.1 Lack of awareness regarding health hazards associated with medical waste
3.3 Growth potential analysis
3.4 Porter's analysis
3.4.1 Supplier power
3.4.2 Buyer power
3.4.3 Threat of new entrants
3.4.4 Threat of substitutes
3.4.5 Industry rivalry
3.5 PESTEL analysis
3.6 Pricing analysis, 2023
3.7 Distribution channel overview
3.8 Regulatory landscape
3.9 Technological landscape
3.10 Gap analysis
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