Sharps containers, also known as sharps bins, are hard plastic containers that are used by various medical waste generators to safely dispose metal sharps waste such hypodermic needles, syringes, and other sharp medical instruments such as disposable scalpels and IV catheters. The global sharps containers market was valued at approximately US$ 450.0 Mn in 2016, and is expected to reach US$ 660.9 Mn by 2025. The market is anticipated to expand at a CAGR of 4.4% during the forecast period. Stringent government regulatory policies for the safe disposal of metal sharps in developed countries is projected to boost the global sharps containers market during the forecast period.
Key players are investing in the development & commercialization of sharps containers to reduce incidences of infectious disorders caused due to improper disposal methods of metal sharps by health care workers. In February 2018, Becton, Dickinson and Company, a leading sharps containers manufacturer, launched a new program to help ensure proper containment of household sharps in Los Angeles (the U.S.). Rise in number of surgical procedures which generate significant amount of sharps waste are estimated to boost the sharps containers market by 2025. However, lack of awareness about proper methods of sharps waste containment & disposal in developing nations is likely to hamper the sharps containers market during the forecast period.
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Global Sharps containers Market: Key Segments
The global sharps containers market has been segmented in terms of product type, usage type, waste type, medical waste generator, distribution channel, and container size. Based on product type, the global sharps containers market has been segmented into patient room containers, phlebotomy containers, and multipurpose containers. Based on waste type, the market has been classified into infectious & pathological waste, sharps waste, pharmaceutical waste, and non-infectious & other waste. Various types of medical waste generators are hospitals, clinics & physician’s offices, pharmaceutical companies, long-term care & urgent care centers, pharmacies, and others. In terms of usage type, the global sharps containers market has been divided into disposable containers and reusable containers. Based on distribution channel, the market has been divided into direct sale, online sale, and retail sale. In terms of container size, the global sharps containers market has been classified into 1–2 gallons, 2–4 gallons, 4–8 gallons, and others.
All segments have been analyzed based on launch of new products, regional demand for products, regulatory policies regarding medical waste management, and ongoing R&D of sharps containers. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025 along with their respective CAGRs for the period from 2017 to 2025, considering 2016 as the base year.
Global Sharps containers Market: Regional Outlook
Geographically, the global sharps containers market has been categorized into five major regions and key countries/sub-regions in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (South Africa, GCC, Israel, and Rest of Middle East & Africa). The market size and forecast for each of these regions and countries/sub-regions have been provided for the period from 2015 to 2025 along with their respective CAGRs for the forecast period (from 2017 to 2025), considering 2016 as the base year. The research study also covers the competition scenario in these regions.
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