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Sharps Containers Market - By Container Type (Multipurpose, Pharmaceutical, Phlebotomy, Patient Room), Usage (Single-use, Reusable), Container Size (1 & 2 gallons, 3 & 5 gallons, 8 & 11 gallons) – Global Forecast, 2024 – 2032


Published on: 2024-07-20 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Sharps Containers Market - By Container Type (Multipurpose, Pharmaceutical, Phlebotomy, Patient Room), Usage (Single-use, Reusable), Container Size (1 & 2 gallons, 3 & 5 gallons, 8 & 11 gallons) – Global Forecast, 2024 – 2032

Sharps Containers Market Size

Sharps Containers Market size was valued at around USD 554.4 million in 2023 and is expected to grow at a CAGR of 4.5% from 2024 to 2032. This robust market growth can be attributed to factors such as the rising number of surgeries coupled with the increasing volume of medical waste generated globally.
 

Sharps Containers Market

As the demand for surgeries increases, the need for safe and effective disposal of sharp medical instruments, such as needles and scalpels also rises. For instance, according to an article published by the National Library of Medicine, in 2020, around 310 million major surgeries are performed each year globally, of which around 40 million are performed in the U.S. and 20 million in Europe. Sharps containers play a crucial role in ensuring proper containment and disposal of these potentially hazardous materials, contributing to the overall safety of healthcare professionals, patients, and the environment. This surge in surgical activities amplifies the importance and demand for sharps containers in healthcare settings, propelling the market expansion.
 

Moreover, with the rising population and increasing healthcare activities worldwide, there is a consequential surge in the amount of medical waste, particularly sharp objects such as syringes and needles. Sharps containers provide a secure and hygienic way to collect and dispose of used needles and other sharps, reducing the risk of needlestick injuries and the potential transmission of infectious diseases, thereby contributing to the market growth.
 

Sharps containers are specially designed receptacles intended for the safe disposal of medical sharp instruments, such as needles, syringes, lancets, and scalpels. These containers are an essential component of medical waste management practices, ensuring the safe handling and disposal of sharps waste in accordance with regulatory guidelines and standards.
 

Sharps Containers Market Trends

Governments around the world are increasingly recognizing the importance of proper disposal of medical waste, including sharps, to ensure public health and environmental safety. Many countries have implemented strict regulations and guidelines for the collection, segregation, transportation, treatment, and disposal of medical waste, especially sharp waste.
 

  • For instance, in the U.S., the Occupational Safety and Health Administration (OSHA) has issued the bloodborne pathogen standard, which requires employers to provide sharps containers and other engineering controls to protect workers from exposure to bloodborne pathogens. Similarly, in the UK, the Health And Safety Executive (HSE) has issued the Health and Safety Regulations 2013, which require employers to provide sharps containers and other safety measures to prevent sharps injuries in healthcare settings.
     
  • Governments implement and enforce regulations related to the proper disposal of medical waste, mandating healthcare facilities to adhere to specific guidelines. Sharps containers, designed to meet regulatory standards, become essential for compliance, and healthcare providers invest in these containers to avoid legal implications.
     
  • Moreover, governments conduct educational programs and awareness campaigns to inform healthcare professionals and the general public about the importance of proper medical waste disposal. These initiatives often highlight the role of sharps containers in preventing injuries, infections, and environmental pollution. Thus, the market is poised for sustained growth over the analysis timeframe.
     

Sharps Containers Market Analysis

Sharps Containers Market, By Container Type, 2021 - 2032 (USD Million)

The market by container type is categorized into multipurpose containers, pharmaceutical containers, phlebotomy containers, patient room containers, and other container types. The multipurpose containers segment accounted for over 32.5% business share in 2023 and is anticipated to witness significant growth during the forecast period.­
 

  • Multipurpose containers allow healthcare facilities to streamline their waste management processes by offering a single container for various types of medical waste. This efficiency is particularly advantageous in busy healthcare settings where the disposal of different waste streams, including sharps, is required.
     
  • Investing in multipurpose containers can be cost-effective for healthcare facilities compared to using separate containers for different types of medical waste. This cost efficiency can be a compelling factor for facilities looking to optimize their waste management practices.
     
  • Moreover, the use of multipurpose containers aligns with environmental considerations by promoting efficient waste disposal practices. It can contribute to sustainability goals by minimizing the use of separate containers for different waste streams. This is anticipated to boost the segmental growth in the market positively.
     

The sharps containers market by usage is categorized into single-use containers and reusable containers. The reusable container segment accounted for around USD 367 million in revenue size in 2023.
 

  • Reusable containers align with growing concerns about environmental sustainability. The emphasis on reducing single-use plastics and promoting reusable alternatives supports the adoption of sharps containers that can be safely emptied, cleaned, and reused, minimizing the environmental impact.
     
  • Additionally, while the upfront cost of reusable containers may be higher than disposable counterparts, they offer long-term cost savings. Healthcare facilities can benefit from reduced expenses associated with the continuous purchase of disposable containers, making reusable options economically attractive. Therefore, the central role of hospitals in providing a comprehensive range of services across diverse specialties will fuel business growth positively.

 

Sharps Containers Market, By Container Size (2023)

The sharps containers market by container size is categorized into 1 & 2 gallons, 3 & 5 gallons, 8 & 11 gallons, and other container sizes. The 3 & 5 gallons segment is expected to grow at a CAGR of 4.7% over the analysis timeframe.
 

  • The choice of sharps container size often depends on the volume of medical waste generated in a particular healthcare setting. Larger containers, such as those with 3 or 5 gallon capacity, are suitable for environments with higher patient traffic and increased medical waste generation.
     
  • Hospitals, clinics, and other high-traffic healthcare settings may prefer larger sharps containers to accommodate the higher volume of sharps waste produced. This is especially true for facilities with a large number of patient rooms, treatment areas, and procedural spaces.
     
  • Moreover, healthcare facilities must comply with regulations regarding the proper disposal of medical waste, including sharps. Choosing appropriately sized containers is crucial for meeting regulatory standards and ensuring that waste is contained securely.

 

North America Sharps Containers Market, 2020- 2032 (USD Million)

North America sharps containers market accounted for USD 195.4 million in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

  • North America experiences a substantial and rising number of surgical procedures across various healthcare facilities. Surgeries generate a considerable amount of medical waste, including sharps such as needles and scalpels. According to the American College of Surgeons, every year, 15 million Americans undergo various surgical procedures. As the frequency of surgeries increases, there is a corresponding surge in the demand for sharps containers to safely and efficiently dispose of the associated medical waste.
     
  • Further, North America, including the U.S. and Canada, has stringent regulatory standards for pharmaceutical waste management. Compliance with these standards, which mandate the safe disposal of sharps, drives the demand for high-quality sharps containers.
     

Sharps Containers Market Share

The sharps containers industry is fragmented in nature, with several large multinationals, small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies are among a key market strategy. Some of the leading industry players including Becton, Dickinsons and Company, Thermo Fischer Scientific, Cardinal Health, Sharps Medical Waste Services, among others have a notable presence in the market.
 

Sharps Containers Market Companies

Some of the eminent market participants operating in the sharps containers industry include

  • Becton, Dickinson and Company
  • BemishHealthcare
  • BondTech Corporation
  • Cardinal Health, Inc.
  • EnviroTain
  • GPC Medical
  • Harloff
  • Sharps Medical Waste Services
  • Stericycle
  • Thermo Fisher Scientific Inc.
     

Sharps Containers Industry News

  • In August 2023, Stericycle, Inc. announced the launch of its re-engineered one-gallon SafeDrop Sharps Mail Back and one-gallon CsRx Controlled Substance Wastage containers. Stericycle's SafeDrop Sharps Mail Back containers provide a convenient solution for healthcare providers to manage sharps waste. This product launch may help the company to enhance its sharps containers product portfolio and generate increased business revenue.
     

Sharps containers market research report includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments

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Market, By Container Type

  • Multipurpose containers
  • Pharmaceutical containers
  • Phlebotomy containers
  • Patient room containers
  • Other container types

Market, By Usage

  • Single-use containers
  • Reusable containers

Market, By Container Size

  • 1 & 2 gallons
  • 3 & 5 gallons
  • 8 & 11 gallons
  • Other container sizes

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East and Africa

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )