Report Ocean published the latest research report on the Sharps Containers Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Sharps Containers Market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, and growth rate.
Global Sharps Containers Market Overview
The global sharps containers market exhibited a revenue of approximately US$ 447.6 million in 2022, with a projected growth to reach US$ 632.8 million by 2031. This growth is anticipated at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period from 2023 to 2031. Sharps containers, also known as sharps bins, play a crucial role in the safe disposal of medical waste, including needles, catheters, and other sharps waste generated by research institutions, healthcare organizations, and hospital chains.
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Factors Influencing Market Growth
- Clinical Tests and Diagnostics: The global rise in clinical tests and diagnostics is a significant factor contributing to the growth of the sharps containers industry.
- Government Regulations: Stringent government regulations for medical waste disposal, particularly concerning sharps waste, propel the growth of the sharps containers market.
- Challenges and Opportunities: The lack of awareness about medical waste disposal and insufficient training for hospital staff pose challenges, while the increasing number of surgeries worldwide presents opportunities for the key players in the sharps containers market.
Impact of COVID-19
The COVID-19 pandemic had a positive influence on the sharps containers industry, driven by the surge in demand for medical services such as vaccinations, generating an increased need for needles, syringes, and other sharps. Despite disruptions in healthcare workflows globally, this heightened demand led to a positive impact on the sharps containers market.
Regional Analysis
- North America Dominance: In 2022, North America dominated the sharps containers market and is expected to maintain its dominance. Factors such as the availability of various clinical tests, the presence of key players, and well-established rules for medical waste disposal contribute to this dominance.
- Asia-Pacific Growth: Asia Pacific is anticipated to register the highest growth rate during the forecast period, attributed to a sufficient distribution network of sharps containers in the region.
Leading Companies
Leading companies in the global sharps containers market include Becton, Dickinson and Company, Bemis Health Care, Bondtech Corporation, Cardinal Health, EnviroTain, GPC Medical Ltd., Harloff, Henery Schiens, Stericycle, Thermo Fisher Scientific, and other prominent key players.
Segmentation Outline
- Type
- Patient Room Containers
- Phlebotomy Containers
- Multipurpose Containers
- Container Size
- 1-2 Gallons
- 2-4 Gallons
- 4-8 Gallons
- Usage
- Single-Use Containers
- Reusable Containers
- Distribution Channel
- Direct Sale
- Online Sale
- Retail Sale
- Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- North America
(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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