Sharps Containers are important in terms of handling waste produced by medical institutes and healthcare centers and household waste. Such waste usually consists of hypodermic needles, syringes, disposable scalpels, catheters and other metal sharps waste.
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In a recent sharps containers market study, Transparency Market Research (TMR) notes that the market will chart a steady 4.4% of CAGR (Compound Annual Growth Rate), between 2017 and 2025, taking the market worth up to USD 660.9 mn by the end of the forecast period from a USD 450 million observed in the year of 2016.
A number of trends and drivers are pushing the global sharps containers market on an upward growth trajectory and some of these include strict government regulations governing medical waste and rise in surgical operations.
The global sharps container market is fragmented and prominent players in the market are Medtronic, Becton, Dickinson and Company, Daniels Health, Sharps Compliance, Inc., MAUSER, EnviroTain, LLC, Bondtech Corporation, Bemis Manufacturing Company, and Henry Schein, Inc, among others
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Increase in Geriatric Waste to Pave the Way for Growth in Sharps Containers Market over the Forecast Period
Geriatric population is reaching new highs. And, as per a recent study, it is believed that over the next 20 years – by 2050 – 2 billion people will occupy the age group of 60 and above. It is quite interesting to note here that it is a steep rise from a mere 900 million in the year 2015. Aldo, in these three decade, the world will see one in every six people flank the 65 an over age group – a condition more pronounced in Europe and North America (one in every four people from the two regions to occupy the stated age bracket.
In fact, there is a massive demographic shift that was noted in the year 2018. History was created when for the first time in the year the number of people in the age group of 5 and below was surpassed by the number of people aged 65 and above.
These demographics are susceptible to illness and chronic diseases, requiring surgeries often. Therefore, it remains a critical consumer segment for the healthcare, and thus sharps market. Besides a rise in disposable income is positively contributing to this growth.
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North America to Demonstrate Impressive Performance over the Forecast Period
Thanks to rising geriatric population, robust healthcare infrastructure, a good reimbursement policy and presence of numerous prominent market players, the North American region will account for a major share of the global sharps market over the forecast period. The other region that will present players with new opportunities include the Asia Pacific (APAC) which is witnessing great economic performance by nations marking the regional landscape. This is leading to a rise in disposable income.
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The report is segmented as presented below:
The global sharps containers market has been segmented as follows:
Product Type
- Patient Room Containers
- Phlebotomy Containers
- Multipurpose Containers
Waste Type
- Infectious & Pathological Waste
- Sharps Waste
- Pharmaceutical Waste
- Non-infectious & Other Waste
Medical Waste Generator
- Hospitals
- Long-term Care & Urgent Care Centres
- Clinics & Physician’s Offices
- Pharmaceutical Companies
- Pharmacies
- Others
Usage Type
- Disposable Containers
- Reusable Containers
Distribution Channel
- Direct Sale
- Online Sale
- Retail Sale
Container Size
- 1-2 Gallons
- 2-4 Gallons
- 4-8 Gallons
- Others
Geography
- North America
- S.
- Canada
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- GCC
- Israel
- Rest of Middle East & Africa
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Market OverviewThe global sharps containers market size is projected to reach USD 624.1 million by 2026, exhibiting a CAGR of 4.2% during the forecast period.
Furthermore, a joint survey by WHO and UNICEF in 2015 found that more than 40% of health facilities in 24 countries lacked essential systems for safe biomedical waste disposal.
These numbers highlight the critical need for efficient health waste disposal equipment, especially in developing countries, which bodes well for this market.Request a Sample Copy of the Research ReportCOVID-19 ImpactThe on-going corona virus pandemic has created an unprecedented health and economic crisis globally.
Besides this, the report addresses the following questions:What are the current and future market trends?Which factors are driving and restraining the market?Which are the leading market segments?Who are the top market players and what are their main strategies?How are regional developments influencing the market growth?Market DriverRising Adoption of Reusable Sharps Containers to Favor Market GrowthReusable medical waste disposal devices, as the name suggests, can used multiple times before they are discarded.
Strong medical supply chains in the European Union countries are likely to augment the market in Europe.Have Any Query?
Ask Our ExpertsCompetitive LandscapeKey Players to Focus on Meeting Challenges Posed by COVID-19The COVID-19 pandemic has taken the world by storm and major players in this market are focused on formulating strategies to effectively deal with the impending health crisis.
The global Sharps Containers Market report offers a comprehensive assessment of the market for the forecast years.
This globe industry offers an outlook on the strategic development of the market in terms of revenue profits over the forecast period 2021-2026.The key market players for the global Sharps Containers market are listed below: Sharps Compliance Stericycle Becton Dickinson Medtronic MarketLab GPC Medical Medu-Scientific Henry Schein Dailymag Magnetics OthersClick here to get a FREE Sample Copy of the Sharps Containers Market Research Report @ https://www.decisiondatabases.com/contact/download-sample-36766The Global Sharps Containers Market Report is equipped with market data from 2016 to 2026.
It also evaluates the competitive scenario of the leading players.
The report forecasts sales and revenue from 2021 to 2026.
The detailed sales channel is also covered in the study.COVID-19 Impact Analysis on Sharps Containers marketThe global pandemic COVID-19 has affected the Sharps Containers market directly or indirectly.
The impact study on production, supply, demand and sales provides a holistic approach to the future.Do You Have Any Query Or Report Customization?
