Sharps Container Market Size, Share, Opportunities, And Trends By Usage (Multipurpose, Containers, Patient Room Containers), By Capacity (1-2 Gallons, 2-4 Gallons), By End Use (Hospitals, Research Centres, Pharmaceutical Companies, Other Government Institute), And By Geography - Forecasts From 2023 To 2028

The sharp container market is projected to show steady growth during the forecast period.

The growing need for adequate medical waste disposal due to factors such as the risk of disease spread, contamination of water supply, and environmental contamination, among others, contributes to the demand for the sharps containers market. Furthermore, the growing prevalence of chronic illnesses is driving up the number of surgical procedures carried out globally, which heavily rely on the use of sharp medical instruments like scalpels, needles, intravenous injections, and other devices. As a result, as the number of surgical procedures rises globally, the demand for sharp containers will grow, which is anticipated to drive the market's expansion.

Introduction:

Sharps containers, also known as sharps bins, are used to dispose of medical waste such as hypodermic needles, syringes, catheters, and other sharps waste in a safe manner. Sharps containers are used to dispose of medical waste generated by healthcare companies, research institutes, and hospital chains, which include needles, syringes, shattered glass, blood samples, and infectious microorganisms. Sharps containers are classified into two types, single-use, which are disposed of with the waste inside, and reusable, which are robotically emptied and sanitized before being returned for re-use. Sharps containers are expected to grow over the forecast period, owing to an increase in diagnostic and clinical testing. Furthermore, an increase in severe government rules for medical waste disposal will boost sharps container market growth throughout the projection period. Further, a growth in the number of surgeries worldwide and an increase in demand for sharps containers are projected to provide major players with opportunities in the sharps containers market.

Drivers:

• The growing demand for proper medical waste management is anticipated to propel the worldwide sharps containers market: Healthcare institutions are largely responsible for the collection, segregation, and disposal of medical, infectious, and hazardous waste. Increased infectious illness rates, increased hospital visits and admissions, and increased demand for diagnostic and clinical tests all contribute to the development of significant volumes of disposable trash. Medical trash is not included in the standard waste disposal procedure and must be disposed of properly. As a result, medical waste management is becoming increasingly important, boosting global demand for sharps disposables. Companies are also working on producing and marketing a range of disposable containers for efficient usage and garbage disposal. During the forecast period, this is expected to substantially enhance the worldwide sharps containers market.
• Growing healthcare infrastructure is a primary reason for market growth: Sharps containers are anticipated to be in high demand as healthcare grows more prominent and high-quality equipment becomes more widely available. Demand is predicted to rise in the coming years as a result of increased investment and research and development studies.
• Technological advancements are likely to boost market growth: The medical waste container sector is predicted to develop as hospital-acquired infections rise and waste management requirements become more complex. Sharps containers are becoming more popular as chronic infections rise and automated disposal systems become increasingly common. The adoption of technology and the development of smart sensors to track the actions of these containers are boosting market growth.
• Regulation placed by the government to fuel the market growth: The World Health Organization (WHO) and other regulatory authorities in nations throughout the world have established standard recommendations for the disposal and management of biological waste. All pharmaceutical firms, research institutions, hospitals, and other healthcare providers follow a set of criteria established by regulating organizations. Sharps disposables therefore aid in the efficient management and disposal of medical waste. Sharps container makers are also required to follow criteria while producing sharps containers, therefore it is extensively used for trash disposal which is eventually aiding in the market development.

Products offered by key companies:

• Sharps Single & Multipack Systems, Pureway: The PureWay Single and Multipack Sharps container disposal and mail back systems were built primarily for solo and independent facilities that create 50 lbs or less of regulated medical waste every month. The PureWay Sharps Disposal System contains everything required to properly secure, transport, and trace waste for disposal. Sharps containers are available in 1 Quart to 3 Gallon sizes.
• BD home sharps container, Becton, Dickinson, and Company: The BD home sharps container is made to accommodate both pen needles and insulin syringes. It is impermeable and leak-proof, making it ideal for the secure and easy disposal of used sharps.

Prominent growth is expected in the reusable sector under the usage segment.

The reusable container is poised to expand significantly and have a major market share over the forecast period. The advantages, characteristics, and safety that reusable containers provide are the reasons behind their increasing popularity. In addition, because hospitals, research facilities, and pharmaceutical businesses favor reusable bins, there is an increasing need for reusable containers. Reusable containers can be reused again as long as they are kept clean. These are reasonably priced, eco-friendly, and safe containers and hence are widely used, thereby aiding in the market growth.

The North American region is expected to hold a significant share of the sharp container market:

The North American region is projected to grow significantly and capture a major market share over the forecast period. The rapid acceptance of regulatory authorities' standards for medical and hazardous waste disposal and management by manufacturers across regions is anticipated to fuel the market in the region. Furthermore, broad distribution lines, measures to raise waste management awareness, and a focus on integrating with public and private firms for development are projected to drive market growth in North America during the projection period. The market is also growing because of variables such as the availability of numerous diagnostic and clinical tests, well-established rules for medical waste management, and the presence of significant firms in the region such as Becton, Dickinson, and Company. Furthermore, the sharps containers market in the North American region especially in the United States is expanding because of an increase in diabetes and needlestick injuries, as well as increased government initiatives. Chronic disorders such as Crohn's disease and diabetes, which may be treated with self-injectable medicine, are becoming more common in the United States which is creating demand for sharp containers.

Key developments:

• In February 2023, Veolia extended its geographical footing in the German waste management market with the acquisition of the German Hofmann Group's recycling and trash management businesses. Veolia Umweltservice GmbH signed contracts for the sale. Furthermore, Veolia has invested in several firms both inside and outside of Germany.

Segmentation:

• By Usage:
  • Multipurpose Containers
  • Patient Room Containers
• By Capacity:
  • 1-2 Gallons
  • 2-4 Gallons
• By End Use:
  • Hospitals
  • Research Centres
  • Pharmaceutical Companies
  • Other Government Institute
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain  
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • Uae
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others