Pune, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Sharps Containers Market Analysis
“According to SNS Insider, The Sharps Containers Market was valued at USD 497.30 Million in 2023 and is predicted to reach USD 776.18 Million by 2032 and grow at a CAGR of 5.29% over the forecast period 2024-2032.”
The subsequent rise in demand for solutions to manage medical waste securely is causing rapid growth in the sharps containers market. From hospitals and research centers to pharmaceutical companies, large quantities of medical waste especially sharps that if not disposed of safely may become dangerous and associated with health issues both for humans as well the environment. The rising incidence of Hospital-Acquired Infections (HAIs) and surgical procedures across the world is likely to boost demand for sharps containers. In response to these issues, healthcare providers and governments are turning their focus on safe disposal methods.
Manufacturers in the market are highly competitive, offering a variety of products with different sizes, shapes, and materials. Efficient, safety-oriented efforts like reusable containers and smart technology developments have made a positive difference. This is leading to governments from all across the world giving more attention to medical waste management and it has shaken the markets on an even wider level. This investment in sharps containers and following proper disposal practices will greatly reduce the dangerous exposures prone to accidental injuries, resulting spread of infectious diseases hence offering a safer patient environment.
Get a Sample Report of Sharps Containers Market@ https://www.snsinsider.com/sample-request/2997
Major Players Analysis Listed in this Report are:
- Becton, Dickinson and Company (BD)
- Sharps Compliance Inc.
- Medline Industries, Inc.
- Terumo Corporation
- ConvaTec Group PLC
- Healthcare Resource Group, Inc.
- Pall Corporation (Danaher Corporation)
- Kimberly-Clark Corporation
- Stericycle, Inc.
- Kewaunee Scientific Corporation
- GPC Medical
- HenrySchein
- Harloff
- EnviroTain
- BemishHealthcare
- Cardinal Health
- BondTech Corporation
- Thermo Fischer Scientific
Sharps Containers Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 497.30 Mn |
| Market Size by 2032 | US$ 776.18 Mn |
| CAGR | CAGR of 5.29% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
“Increasing Healthcare Demands Fuel Growth in Sharps Containers Market”
The rising demand for healthcare services, driven by factors such as growing healthcare expenditure, an expanding population, and aging demographics, is leading to a surge in medical waste generation, including sharps. This is further accelerated by the global increase in surgical procedures and the prevalence of chronic diseases requiring ongoing medical treatment. Governments worldwide are tightening regulations on medical waste management, making safe and efficient disposal solutions more critical than ever. Additionally, the growing awareness of infectious diseases and the push for sustainable practices are contributing to the increased demand for eco-friendly sharps containers.
Segment Analysis
Multipurpose containers were the largest segment and held a 54.02% share in terms of revenue, by type in 2023 due to its versatility which resulted in significant demand from healthcare providers, research institutes as well as hospitals.
The 2-4-gallon category was the largest in terms of market size, with a share of 46.03% that same year due to it being extremely multifunctional and friendly for disposal injections, cotton swabs, or small laboratory waste. It is popular among hospitals and research facilities due to its vertical drop lid which enables safe disposal.
Reusable containers captured 74.33% of the overall market in terms of revenue share in 2023 and are expected to expand at a CAGR higher than other forms over the forecast period This has made them highly popular among pharmaceutical companies, hospitals, and research institutes due to their superior safety, eco-friendly nature as well as cost-effectiveness.
Sharps Containers Market Key Segmentation:
By Type
- Phlebotomy Containers
- Patient Room Containers
- Multipurpose Containers
By Container Size
- 1-2 Gallons
- 2-4 Gallons
- 4-8 Gallons
By Usage
- Single-Use Containers
- Reusable Containers
Do you have any specific queries or need any customization research on Sharps Containers Market, Enquire Now@ https://www.snsinsider.com/enquiry/2997
Key Regional Developments
The sharps containers market was dominated by North America, holding a 46.32% share in 2023. This dominance is attributed to stringent regulations, extensive distribution networks, and a strong focus on waste management in the region. However, the Asia-Pacific region is expected to experience the most rapid growth during the forecast period, driven by significant investments in manufacturing and increasing compliance with regulatory guidelines. Europe also shows promising growth, though it faces challenges due to varying levels of guideline adherence and reliance on disposable bins in lower-income countries. Despite these hurdles, advancements in supply chain management and awareness campaigns in countries like Germany, the U.K., and Scandinavia are contributing to the region's expansion.
Recent Developments
- January 2024: Grundon, a leading waste management company, launched a new reusable sharps container service for the National Health Service (NHS). This initiative aims to promote sustainability and reduce waste within the healthcare sector.
- March 2024: Fire Prevention 24-7 in Naperville introduced a free sharps disposal program designed to provide a safe and convenient method for residents to dispose of medical waste. This program is expected to reduce the risk of needlestick injuries and enhance public safety in the community.
Key Takeaways
- Comprehensive market analysis and insights on the sharps containers market, including growth drivers and challenges.
- Detailed segment analysis highlighting the dominant market segments and their growth prospects.
- Regional insights with a focus on North America's dominance and the rapid growth expected in the Asia-Pacific region.
- An overview of recent regulatory changes and their implications for market growth.
Buy a Single-User PDF of Sharps Containers Market Analysis & Outlook Report 2024-2032@ https://www.snsinsider.com/checkout/2997
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Sharps Containers Market Segmentation, by Type
8. Sharps Containers Market Segmentation, by Container Size
9. Sharps Containers Market Segmentation, by Usage
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
Access Complete Report Details of Sharps Containers Market Outlook 2024-2032@ https://www.snsinsider.com/reports/sharps-containers-market-2997
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
