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Sharps Containers Market Size, Share & Industry Analysis, By Product Type (Multipurpose Containers, Patient Room Containers, Phlebotomy Containers), By Waste Generators (Hospitals, Pharmacies, Academic & Research Institutes, Others), By Usage (Reusable Containers and Single-Use Containers), By Waste Type (Sharps Waste, Infectious Waste), By Size (1–2 Gallons, 2–4 Gallons, 4–8 Gallons Others) and Regional Forecast, 2019 - 2026

Region : Global | Published Date: Oct, 2019 | Report ID: FBI101499| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global sharps containers market size was valued at USD 449.1 Million in 2018 and is projected to reach USD 624.1 Million by 2026, exhibiting a CAGR of 4.2% during the forecast period.


Biomedical waste disposal is currently the biggest day-to-day challenges faced by healthcare providers. Medical waste is the disposable waste generated by hospitals, pharmaceutical companies, research institutes, and healthcare providers. The waste includes syringes, needles, contaminated glass, scrape body parts, infectious materials, blood samples, and others. Every year millions of people throughout the country discard tons of biomedical waste. Finding and managing safety disposal of the waste has become a crucial health priority.


Biomedical waste needs special handling and treatment due to its toxicity and infectious contents. Government initiatives, manufacturing companies, and public/private bodies have been taking efforts in spreading awareness about the safe disposal of medical waste.  Stringent regulations have also been imposed for the management of the waste to avoid serious threat to the environment and human body.


Biomedical waste bins have proved to be effective in the safe disposal of sharp instruments such as needles, syringe, lancet, and others. The container is made up of rigid and durable plastic which can be reused after disinfecting. The sharps containers come in a variety of sizes, shapes and having definite applications. The manufacturers are always focused on adhering to the guidelines set by the government to bring out environment safe disposable containers in the market.


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The sharps containers market has a highly competitive landscape as a number of start-ups, small scale, and large scale companies have penetrated the market for development of valuable and infection-free sharps containers. This is likely to boost the global market during the forecast period. Stringent government guidelines have made the lower-economic countries to adopt disposable containers thus increasing their demand which is anticipated to propel the market growth during the forecast period.


MARKET DRIVERS


“High generation of medical waste likely to propel the growth of global sharps containers market”


Healthcare facilities are primarily responsible for the collection, segregation, and discarding of the medical, infectious and hazardous waste generated by the facilities. Increasing prevalence of infectious disease, growing hospital visits & admissions, and demand for diagnostic and clinical test are contributing to generation of large amounts of disposable waste. The medical waste generated is excluded from general waste disposal procedure and needs to be disposed in an effective manner.


According to the World Health Organization, every year, 16 million injections are used worldwide but lack proper disposal facilities. Additionally, out of the total medical waste generated 85% consists of general, non-hazardous waste and 15% of hazardous waste. This generated waste contains harmful microorganisms that pose a threat to the environment as well as to the healthcare professionals. 


Thus, management of medical waste is the need of the hour, which in turn is increasing the demand for sharps disposables worldwide. Also, companies are focused on developing and introducing variety of disposable containers for effective use and proper waste disposal. This is likely to rapidly boost the global sharps containers market during the forecast period.


 “The increasing need for effective medical waste management to drive the global sharps containers market.”


The key strategy in minimizing and successful management of medical waste is segregation and identification of the waste. Improper disposal of a large amount of waste generated at the healthcare facilities and pharmaceutical companies is likely to increase the infections affecting the environment and the living systems of the planet. Hence, government bodies are taking necessary efforts in implementing guidelines for effective disposal of medical waste.


World Health Organization (WHO) along with other regulatory bodies in the countries worldwide have set standard guidelines for the disposal and management of biomedical waste. It is mandatory for all the pharmaceutical companies, research institutes, hospitals, and other healthcare providers to comply with the set of guidelines by governing bodies.


Sharps disposables thus help in managing and disposing medical waste in a productive manner. The manufacturers are also made compulsory to comply with guidelines while manufacturing the sharps containers, and hence it is preferred widely for waste disposal.


SEGMENTATION


By Product Type Analysis


“The multipurpose containers segment to dominate the sharps containers market during the forecast period.”


The product type segment in the market includes multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers dominated the market owing to its multipurpose use in various applications, availability of different sizes and shapes, and demand for multipurpose containers by healthcare providers, research institutes and hospitals. These containers are high in demand as they provide ample space and volume for disposing of variety of sharps. It also provides maximum safety to healthcare professionals and is environmentally safe. The container can be disinfected and reused and hence is in greater demand driving its growth in the global sharps containers market.


The patient room containers are designed to safely discard the needles, contaminated cotton swabs, and syringes to protect the patient and healthcare professional from infections. These containers are widely used by hospitals, clinics, and other healthcare providers to comply with the strict guidelines and ensuing environment safety. Patient room containers are expected to register a higher CAGR due to increasing prevalence of hospital admissions and the need for correct disposal of medical waste.


Phlebotomy containers are designed for disposal of blood, hypodermic and IV needles. This type of containers is used widely in diagnostic laboratories, clinical laboratory, pharmaceutical companies, and hospitals for safe discarding of blood samples and accessories.


By Waste Generators Analysis


“The hospitals segment is likely to generate the highest revenue during the forecast period.”


The waste generators segment is classified into hospitals, other healthcare providers, pharmacies, academic & research institutes, pharmaceutical companies, and others. The hospital segment generated the highest revenue and is likely to dominate the medical waste disposal containers market during the forecast period. The factors attributed for the growth are the generation of large amount of waste demanding for more disposable bins, growing necessity for waste disposable and its management, compliance with regulatory guidelines for medical waste disposal, increasing number of surgeries and infections and increasing patient visits.


Other healthcare providers are also likely to generate a huge amount of waste, making it necessary to dispose of waste in a sharp container. Academic & research institutes, pharmacies, and pharmaceuticals are continuously under government guidelines and surveillance regarding proper management of medical, hazardous and infectious waste management. This is increasing the demand for sharps containers.


The waste generated from the above healthcare facilities includes infectious materials, scrape body parts and contaminated waste which is necessary to be disposed of with proper management by securing the environment. The continuous outlook and up-gradation of government guidelines and initiatives taken by public/private bodies regarding waste management are likely to make compliance necessary.


By Usage Analysis


“Reusable containers of sharps containers market is anticipated to exhibit a higher CAGR during the forecast period.”


The usage segment is bifurcated into reusable and single-use containers. Among these, the reusable containers generated the highest revenue and are anticipated to hold a higher CAGR during the forecast period. The factors attributing to the growth of reusable containers are the benefits, properties, and safety offered by the containers. Reusable containers are in greater demand as pharmaceutical companies, hospitals and research institutes prefer reusable bins. Reusable bins can be used multiple times by maintaining its cleanliness. These containers are safe, environment-friendly and cost-effective.


Single-use bins are used in the facilities where the generated waste needs to be disposed of cautiously and generally is a biohazard. The single-use containers are compact, having closed lid to protect from infections. These bins are used in research institutes ad largely in pharmaceutical companies as their research is infections-driven. The single-use containers are expected to have steady growth rate during the forecast period.


 


By Waste Type Analysis


“Sharps waste to hold a leading position in the market in terms of revenue”


The waste type segment is categorized into sharps waste, infectious waste, non-infectious waste, and pharmaceutical waste. The sharps waste generated the highest revenue and is expected to dominate the market during the forecast period. The rising number of surgeries undertaken, large population visit to hospitals and clinics, and increasing prevalence of infections are attributing to the higher generation of sharps waste. Sharps waste consists of used syringes, needles, broken glass, scalpel blades, dental scalers, and others.


The infectious waste is anticipated to register a higher CAGR owing to the large generation of infectious waste by pharmaceutical companies, research institutes, and R&D facilities. The increasing R&D worldwide for the betterment of humanity is thus likely to produce more waste and require proper waste disposable management.


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The pharmaceutical and non-infectious waste is expected to witness a comparative growth in the sharps containers market. These factors are likely to boost the market during the forecast period owing to higher demand of disposable containers for waste management.


By Size Analysis


“In the global sharps containers market by size, 2-4 gallons segment will hold the highest share.”


Sharp containers are available in a variety of sizes and shapes. The size and shapes vary according to the application type of the container in which it is to be used. The 2-4 gallon in the size segment accounted for the highest revenue generation. This particular size container is widely used by nurses in hospitals and clinics for disposal of injections, cotton swabs, etc. They are also useful in diagnostic laboratories for disposal of medical waste. Moreover, these containers have vertical drop lid, and it is widely preferred in hospitals, research institutes for easy disposal of syringes, tips and other waste as it is deposited directly in the bin.


Additionally, the sharp containers are also available in sizes of 1-2 gallon, 4-8 gallons and above it. The large gallon containers are used in hospitals, pharmaceutical companies where waste generation is higher to effectively manage the waste disposal. These containers are mainly used for biohazard disposal including surgery waste generated in hospitals, cut & scrape body parts generated in research laboratories and diagnostic laboratories.


The 2-4 and 4-8 gallon sharps disposable containers are likely to have higher demand during the forecast period owing to its higher applicability and variability provided by the manufacturers to the end-users and the rising awareness about effective medical waste management.


REGIONAL ANALYSIS


North America generated a revenue of USD 175.6 Million in 2018 and is anticipated to emerge dominant in the global sharps containers market during the forecast period. The rapid adoption of guidelines imposed by regulatory bodies regarding medical and hazardous waste disposal and management by manufacturers across the region would drive the market growth in the region. Besides, large distribution line, initiatives in spreading awareness about waste management, and focus on merging with public & private manufacturers for the expansion are expected to fuel the market growth in North America during the forecast period.


Asia Pacific is expected to witness the highest growth in market value across the region.  Rapid investment in manufacturing of quality compliant sharp disposables is the key driver for the market in the region. Manufacturers from India, China, Japan, and the rest of Asia Pacific are making an effort in implementing regulatory guidelines for proper medical waste disposal to withstand the market competition and provide novelty solutions to the customers. This will drive the biomedical waste bins market growth across the region.


North America Sharps Containers Market Size, 2018

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On the other hand, Europe is projected to witness significant growth in the global market. The high growth countries, including Germany, U.K., and the Scandinavia would contribute to the growth of the sharps containers market in the region. France and Spain are on the upsurge of improving the supply chain and spreading awareness regarding waste management, which would be a key driver for the growth of the market in the region. However, lack of guideline compliance and adoption of disposable bins in lower-economic countries of Europe is expected to hamper the growth of this region.


The Middle East and Africa would have a comparatively higher CAGR in this market. The region is significantly heading towards the modernization and technological developments. The Middle East and Africa could be a center of attraction for manufacturers as the region is expected to grow during the forecast period.


INDUSTRY KEY PLAYERS


“Market Players such as Sharps Compliance, Inc., EnviroTain, LLC, and Bondtech Corporation will focus on providing safer and more affordable sharp containers to users”


Sharps Compliance, Inc. is a leading healthcare waste management solutions provider for the healthcare market. It offers solutions for effective waste management for pharmaceutical manufacturers, clinics, and hospitals. It also has facilities for hazardous waste management. The company is focused on providing cost-effective products and environment sensitive solutions for the customers.


EnviroTain, LLC also is a medical waste management solution provider. EnviroTain is a company focused on delivering a complete line of sharps containers to large volume chemotherapy, pharmaceutical, and RCRA containers. EnviroTain has partnered with leading manufacturers such as Mauser, Daniels Healthcare UK, Becton-Dickinson and others to establish a growing supply chain of sharps containers.


List Of Key Companies Profiled:



  • Sharps Compliance, Inc.

  • EnviroTain, LLC.

  • Bondtech Corporation

  • MAUSER Group

  • Daniels Healthcare Group

  • Henry Schein, Inc.

  • Thermo Fisher Scientific Inc.

  • Stericycle

  • GPC Medical

  • Other Prominent Players


REPORT COVERAGE


High waste generation and the need for effective waste management is predicted to increase the demand for the sharps containers and drive the global market growth.


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Along with this, the report provides an elaborative analysis of the global sharps containers market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global market, such as mergers & acquisitions, competitive landscape, pricing analysis of sharps containers, adoption/usage overview of sharps containers for key countries, guidelines overview for medical and hazardous waste disposal and company profiles.


Report Scope & Segmentation

















































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Product Type



  • Multipurpose Containers

  • Patient Room Containers

  • Phlebotomy Containers



By Waste Generators



  • Hospitals

  • Other Healthcare Providers

  • Pharmacies

  • Academic & Research Institutes

  • Pharmaceutical Companies

  • Others



By Usage



  • Reusable Containers

  • Single Use Containers



By Waste Type



  • Sharps Waste

  • Infectious Waste

  • Non-infectious Waste

  • Pharmaceutical Waste



By Size



  • 1–2 Gallons

  • 2–4 Gallons

  • 4–8 Gallons

  • Others



By Region



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



 


INDUSTRY DEVELOPMENT:



  • June 2018: Toter, LLC launched 35-gallon medical waste cart. This can be useful in wide range of medical facilities for disposal of infectious and non-infectious waste.

  • July 2017: PureWay, a health-focused organization partnered with Safe Needle Disposal for educating public about safe needle disposable programs.

  • July 2016: MAUSER Group announced the acquisition of Daniels Healthcare Group. Daniels Healthcare manufactures and markets medical waste containers for hospitals, surgeries, and the clinical waste industry.


Frequently Asked Questions

Fortune Business Insights says that the sharps containers market is projected to reach USD 624.1 Mn by 2026.

In 2018, the sharps containers market was valued at USD 449.1 Mn

Growing at a CAGR of 4.2%, the Sharps Containers Market will exhibit steady growth in the forecast period (2019-2026)

Reusable containers is expected to be the leading segment in the sharps containers market during the forecast period.

Tremendous generation of medical waste is likely to drive the global sharps containers market.

Sharps Compliance, Inc., EnviroTain, LLC, Bondtech Corporation are the top players in the sharps containers market.

North America is expected to hold the highest market share in the sharps containers market

Hospitals, healthcare providers, academic & research institutes, pharmacies are expected to drive the adoption of sharps containers solutions.

Effective management of waste, introduction of environment-friendly disposable containers, increasing demand for disposable containers, and the need to increase the reach of sharps containers worldwide are some of the trends in the market.

Sharps Containers Market Size, Share and Global Industry Trend Forecast till 2026
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