Wilmington, Delaware, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The sharp containers accounted for US$ 701.1 million in 2022. A CAGR of 4.7% is projected from 2023 to 2031. The market is expected to reach US$ 1.0 billion by 2031. Developing economies generate more medical waste, particularly as their healthcare infrastructure expands. Healthcare facilities are increasingly relying on sharp containers as a safe and effective way to dispose of waste.
Injuries caused by needle sticks are a major threat to healthcare workers. A safety-engineered sharp device and container has been developed to prevent such injuries and infections.
As a result, the market for sharp containers grows. Healthcare practices that are environmentally friendly are becoming increasingly popular. As the healthcare industry continues to embrace green initiatives, manufacturers are creating sharps containers with both safety and sustainability in mind.
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Key Findings of the Market Report
- Based on product type, multipurpose containers are expected to drive demand for sharp containers.
- In terms of waste type, sharp waste will likely dominate the market in the future.
- Hospitals are likely to generate a high level of waste, so sharp containers will be in high demand.
- In 2022, North America held the largest share of the global sharps containers market.
- Environmentally friendly containers are in high demand, so reusable containers are expected to grow.
Global Sharps Containers Market: Key Players
Sharp container manufacturers are developing disposal solutions for biohazardous sharps, leading to significant growth in the market. To dispose of infectious waste and diabetic needles, these companies develop sharps containers and sanitary waste bins.
- Sharps Compliance Inc.
- Becton, Dickinson, and Company
- Henry Schein, Inc.
- Medtronic plc
- Daniels Sharpsmart Inc.
- Bemis Manufacturing Company
- Bondtech Corporation
- EnviroTain LLC
- MAUSER Packaging Solutions
Global Sharps Containers Market: Growth Drivers
- As hospitalizations and medical waste generation rise worldwide, sharps containers are becoming increasingly popular in the market. Needles and other sharp objects can cause serious injuries to healthcare workers, so sharps containers protect both sharps users and downstream workers. Utilizing sharps containers assists in preventing the spread of infection as well as disposing of medical waste in a safe manner. With increasing awareness of the importance of waste management, including the disposal of sharps safely, sharps containers have become more popular.
- Surgical procedures and sharps containers are in high demand as chronic diseases become more prevalent. Hospitals, academia, healthcare providers, and pharmacies are adopting solutions for sharps containers. Diabetes and cancer are among the most prevalent chronic diseases worldwide. With the increasing popularity of injections, medical waste, including sharps, has become more prevalent. Therefore, the demand for sharp containers has increased due to the need for safe and efficient disposal methods.
- Governments and healthcare regulatory bodies worldwide strictly enforce medical waste disposal regulations and guidelines. Healthcare facilities must comply with several regulations to dispose of sharps safely and compliantly. Medical facilities and services have improved due to growing healthcare expenditures worldwide. Increasing numbers of medical procedures generate waste, such as sharps, necessitating effective disposal solutions.
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Global Sharps Containers Market: Regional Landscape
- Sharp containers are expected to be in high demand in North America. Sharps containers are becoming increasingly popular in healthcare facilities due to tight government regulations regarding medical waste disposal, especially in North America.
- North American regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and the Canadian Health Products and Food Branch (HPFB), regulate how medical waste is disposed of, including sharps. Because of these regulations, healthcare facilities need sharp containers that are compliant with all regulations.
- The advanced healthcare infrastructure in the United States and Canada results in substantial healthcare expenditures. Medical waste disposal is ensured safely and properly using sharps containers, as healthcare spending continues to grow.
- Healthcare settings in North America place a great deal of concern over infection control. Waste disposal and containment systems, as well as sharps containers, are required to prevent infections from spreading. Sharp container solutions that are safe and advanced are adopted because of an infection control focus.
Global Sharps Containers Market: Segmentation
By Product Type
- Patient Room Containers
- Phlebotomy Containers
- Multipurpose Containers
By Waste Type
- Infectious & Pathological Waste
- Sharps Waste
- Pharmaceutical Waste
- Non-infectious & Other Waste
By Medical Waste Generator
- Hospitals
- Long-term Care & Urgent Care Centers
- Clinics & Physician Offices
- Pharmaceutical Companies
- Pharmacies
- Others
By Usage Type
- Disposable Containers
- Reusable Containers
By Distribution Channel
- Direct Sale
- Online Sale
- Retail Sale
By Container Size
- 1 – 2 Gallons
- 2 – 4 Gallons
- 4 – 8 Gallons
- Others
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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