Sharps containers are used to dispose biomedical and other medical wastes in a seemingly safer and efficient manner. Sharps containers are primarily designed to be used for risky instruments.
Description:
Sharps containers are used to dispose biomedical and other medical wastes in a seemingly safer and efficient manner. Sharps containers are primarily designed to be used for risky instruments. The containers comprise of plastics, in order to reduce the risk of injuries or infection. Syringes, hypodermic needles, disposable scalpels and IV catheters are largely disposed in these sharps containers.
Recently, Becton, Dickinson and Company, which is a prominent sharps containers producing enterprise, introduced a new program to ensure the efficient containment and disposal of household sharps in the U.S. This generated a lot of awareness regarding safe disposal of metal sharps at home, leading to a surge in interest in the product.
Key Driving Factors in Global Sharps Container Market
A WHO report says that more than 16 billion injections are administered over the globe each year. These staggering number shows the amount of possibly infected and risky equipment that requires to be disposed off in a safe and efficient manner. Hence, it is extremely important for health care facilities and other medical waste generators to collect and dispose the contaminated metal sharps waste properly, without raising the chances of infection of injury.
Thus, the sharps containers market is driven by an increasing demand for saline needles, syringes, catheters, and reagents in laboratories, hospitals and other research facilities. Additionally, the global sharps containers market is also predicted to witness significant growth on account of the stringent regulations by the government implemented in several developed as well as emerging countries.
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Global Sharps Container Market: Segmentation
The enhancement and ease of access to healthcare, coupled with the growing penetration of technology and other innovations in the healthcare arena has led to a surge in the utilization of sharps containers, thereby directly creating an impact on sharps containers market. The rising amounts allocated towards health care in developing regions is also making a significant contribution towards pushing the sale of sharps containers.
The global sharps containers market is segmented on the basis of product type, usage type, waste type, medical waste generators, distribution channel, size, and region. In terms of product type, the global sharps containers market is divided into patient room containers, phlebotomy containers, and multipurpose containers. Multipurpose containers accounted for the largest share of the market in 2016, and is estimated to continue to dominate the market during the forecast period. Rise in demand for sharps containers by large quantity waste generators such as hospitals and ambulatory surgical centers is expected to boost the multipurpose containers segment during the forecast period. Based on waste type, the global sharps containers market is classified into infectious & pathological waste, sharps waste, pharmaceutical waste, and non-infectious & other waste types. In 2016, the sharps waste segment dominated the market with highest revenue, due to improved regulatory policies by governments for safe disposal of contaminated sharps. However, the non-infectious & other waste types segment is projected to expand at a significant CAGR from 2017 to 2025. The medical waste generators segment is divided into hospitals, clinics & physician’s offices, pharmaceutical companies, long-term care & urgent care centers, pharmacies, and others. The hospitals segment accounted for the highest share of the market in 2016. Rise in hospitalizations across the globe due to favorable reimbursement policies in private and public hospitals is estimated to increase the amount of sharps waste in hospitals. This, in turn, is expected to drive the segment by 2025.
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In terms of usage type, the global sharps containers market is bifurcated into disposable and reusable. The reusable segment is anticipated to expand at a rapid pace during the forecast period, which is attributable to the efficient distribution network of reusable sharps containers manufacturers. Based on distribution channels, the global sharps containers market is categorized into direct sale, online sale, and retail sale. The direct sale segment is anticipated to expand at a significant growth rate from 2017 to 2025. Expansion of the segment can be attributed to the rise in preference for direct purchase of sharps containers in bulk quantity by medium and large quantity waste generators across the globe. In terms of container size, the global sharps containers market is classified into 1-2 gallons, 2-4 gallons, 4-8 gallons, and other sizes. The 1-2 gallons segment accounted for the largest share of the market in 2016, due to rise in adoption for pocket sharps containers in developed countries. However, emergence of local & regional players in the sharps containers market to cater to the high unmet needs by small & medium quantity waste generators is estimated to drive the 2-4 gallons segment by 2025.
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North America to Demonstrate Impressive Performance over the Forecast Period
Geographically, North America led the global sharps containers market in 2016. This could be attributed to the high adoption of sharps management service offered by leading enterprises in countries such as the U.S. The region has an extremely positive outlook due to its superior medical facilities and abundance of insurance plans. Solidawareness in individuals about the best medical practices available has also proved beneficial for the market in the region.Medtronic, Becton, Dickinson and Company, Daniels Health, Sharps Compliance, Inc., MAUSER, EnviroTain, LLC, Bondtech Corporation, Bemis Manufacturing Company, and Henry Schein, Inc.
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