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Sharps Containers Market is expected to reach US$ 725.1 million by 2030

The global sharps containers market size is projected to grow from $498.1 million in 2022 to $725.1 million by 2030.

By The Insight Partners

Multipurpose Container Segment to Dominate Sharps Containers Market During 2022–2030

According to our new research study on "Sharps Containers Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product, Usage, Waste Type, Waste Generator, Container Size, and Distribution Channel," the market was valued at US$ 498.1 million in 2022 and is expected to reach US$ 725.1 million by 2030; it is anticipated to record a CAGR of 4.8% from 2022 to 2030. Key factors driving the sharps containers market growth are an increase in the generation of medical waste and a rise in hospitalizations in private and public hospitals across the globe. However, the lack of awareness about proper methods of sharps waste containment and disposal hinders the market growth.

Sharps Containers Market, by Geography, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPMD00002581 Source: The Insight Partners Analysis

Hospitals generate a large amount of waste, so more single-use containers are required. Growing need for waste disposal and management and regulatory compliance for medical waste disposal, increasing surgeries and infections, and surging patient visits to hospitals are driving the sharps container market. The increasing use of sharps with the proliferation of healthcare facilities, rise in surgical procedures, and growing healthcare concerns due to needlestick injuries fuel the demand for sharps disposal products. Several studies found that healthcare facilities still dispose of injections and other sharps waste in open pits or boxes instead of using disposal containers, which, in turn, increases the need to use effective sharp drop devices in these facilities. The continued development and updating of government policies and initiatives by public/private entities related to waste management will require compliance.

The increasing burden of chronic diseases is leading to a rise in the number of surgical procedures worldwide in which sharp medical instruments such as scalpels, needles, intravenous injections, and other devices are widely used. This is expected to fuel the demand for sharps containers, driving the market. According to the research study titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage," published in September 2020, ~11% of the global burden of disease requires surgical procedures or anesthetic care or both, and estimated 3,646 surgeries would be required annually to meet the surgical needs of the Indian population, compared to the global estimate of 5,000 surgeries per 100,000 people. Therefore, with the growing global demand for surgical procedures, the amount of medical waste in hospitals is increasing, boosting demand for sharps containers to dispose of the waste.

By product, the sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR of 5.2% during the forecast period. Multipurpose sharps containers accommodate a variety of sharps sizes with both temporary and permanent closure mechanisms. The product is designed to accommodate large sharps items and is available in various lid choices, such as flip, slide, or rotary. The product has various features, including locks for final disposal and shatter and puncture resistance.

Sanypick Plastic SA, Bondtech Corp, Mauser Group NV, EnviroTain LLC, Stericycle Inc, Dailymag Magnetic Technology Ltd, GPC Medical Ltd, Bemis Co Inc, Becton Dickinson and Co, and The Harloff Co are among the key companies operating in the sharps containers market.

The report segments the sharps containers market as follows:

Based on product, the sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. Based on usage, the sharps containers market is segmented into reusable containers and disposable containers. Based on waste type, the global sharps containers market is segmented into infectious waste and non-infectious waste. Based on waste generators, the global sharps containers market is segmented into hospitals, pharmaceutical companies, laboratories, clinics & physician’s offices, and others. The sharps containers market, by container size, is segmented into 1–3 gallons, 4–6 gallons, 7–8 gallons, and others. By distribution channel, the sharps containers market is segmented into medical supply companies, pharmacies, online sale, and others. Based on geography, the sharps containers market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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