Sharps Containers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Sharps Containers Market

The Sharps Containers Market size was valued at USD 44.9 USD billion in 2023, and the market is now projected tgrow t84.1 USD billion by 2032, exhibiting a CAGR of 4.6% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Sharps Containers Market growth.

It is necessary tdispose of medical waste efficiently because it is not included in the standard waste disposal process. The need tcontrol medical waste is urgent, which is driving the demand for disposable sharps globally. For efficient use and appropriate garbage disposal, businesses are alsconcentrating on creating and introducing a range of disposable containers. The global market for sharps containers is anticipated tgrow significantly as a result of this during the forecast period. These particular growth driving factors have been recorded tattribute the Sharps Containers Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. The market for sharps containers is very competitive because many start-ups, small businesses, and large corporations have entered the market tcreate valued, infection-free sharps containers. During the projected period, this is probably going thelp the global market. Strict government regulations have forced lower-income nations tuse disposable containers, which has raised demand and is expected tfuel market expansion throughout the projection period.

Comprehensive Analysis of Sharps Containers Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. Multipurpose containers, patient room containers, and phlebotomy containers are all part of the market's product type category. Pharmaceutical businesses, academic and research institutions, pharmacies, hospitals, and other healthcare providers are all included in the waste generating segment. There are twcategories within the usage segment: single-use and reusable containers. The most profitable of them were the reusable containers, which are alsexpected thave a higher compound annual growth rate throughout the course of the projected period. The waste type section is divided intfour categories: pharmaceutical waste, infectious waste, non-infectious trash, and sharps waste. Sharp containers come in a range of shapes and sizes. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.

With a revenue of millions, North America is expected tbecome the market leader for sharps containers worldwide throughout the course of the forecast year. Market expansion in the region would be fueled by manufacturers' quick adherence tregulations set forth by regulatory agencies on the management and disposal of hazardous and medical waste. Additionally, during the projection period, the market growth in North America is anticipated tbe fueled by a vast distribution line, waste management awareness-raising programs, and a focus on expanding through mergers with both public and private businesses. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Sharps Compliance, Inc. (U.S.), EnviroTain, LLC. (U.S.), Bondtech Corporation (U.S.), MAUSER Group (Germany), Daniels Healthcare Group (U.S.), Henry Schein, Inc. (U.S.), ThermFisher Scientific Inc. (U.S.), Stericycle (U.S.), and GPC Medical (India).

In July 2021, This particular company has attributed the market growth in terms of revenue and shares system. They introduced a 35-gallon medical waste cart. Both contagious and non-infectious waste can be disposed of in a variety of medical settings with this.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Product Type

Multipurpose Containers

Patient Room Containers

Phlebotomy Containers

By Waste Generators

Hospitals

Other Healthcare Providers

Pharmacies

Academic & Research Institutes

Pharmaceutical Companies

Others

By Usage

Reusable Containers

Single Use Containers

By Waste Type

Sharps Waste

Infectious Waste

Non-infectious Waste

Pharmaceutical Waste

By Size

1–2 Gallons

2–4 Gallons

4–8 Gallons

Others

By Region

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)