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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%, says Fortune Business Insights in a report, titled “Sharps Containers Market Size, Share & Industry Analysis, By Product Type (Multipurpose Containers, Patient Room Containers, Phlebotomy Containers), By Waste Generators (Hospitals, Other Healthcare Providers, Pharmacies, Academic & Research Institutes, Pharmaceutical Companies, and Others), By Usage (Reusable Containers, and Single Use Containers), By Waste Type (Sharps Waste, Infectious Waste, Non-infectious Waste, and Pharmaceutical Waste), By Size (1–2 Gallons, 2–4 Gallons, 4–8 Gallons and Others) and Regional Forecast, 2019-2026.” The increasing prevalence of infectious disease will fuel demand for sharps containers, which, in, turn, will aid growth of the global market.
According to the report, North America is projected to emerge dominant in the global sharps containers market during the forecast period owing to rising awareness regarding waste management and hazardous waste disposal. Furthermore, Asia pacific is expected to witness highest CAGR during the forecast period owing to the rising investment in manufacturing of quality compliant sharp disposables.
The report provides a full-fledged informative summary of the prevailing trends in the global market. A well articulate synopsis comprising of regional analysis, industrial key players, segmentations, market drivers and report scope. The report will assist companies with the absolute knowledge about the market’s potential and hence serving them to work their strategies.
Increasing Hospital Visits and Admissions Will Propel Growth
The growing patients pool and surge in the number of hospital visits and admissions will boost the sharps containers growth during the forecast period. Furthermore, the rising cases of infectious diseases will contribute positively to the global sharps containers revenue. Furthermore, the launch of 35-gallon medical waste cart will enable growth of the global sharps containers market. For instance, Toter, LLC launched 35-gallon medical waste cart. This can be useful in wide range of medical facilities for disposable of infectious and non-infectious waste.
Rising Awareness Regarding Waste Management Will Boost Growth in North America
North America was valued at USD 175.6 Million in 2018 and is expected to remain dominant during the forecast period owing to the rapid adoption of guidelines imposed by regulatory bodies regarding medical and hazardous waste disposal and management by manufacturers across the region. Furthermore, large distribution line, increasing initiatives regarding awareness about waste management, and focus on merging with public & private manufacturers will further accelerate growth of the global sharps containers market revenue during the forecast period.
In addition, the market in Asia Pacific is expected to witness highest CAGR during the forecast period. The Rapid investment in manufacturing of quality compliant sharp disposables will contribute significantly to 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 factor will further stimulate growth of the sharps containers market in the region.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/sharps-containers-market-101499
The Global Sharps Containers Market Is Segmented Into:
Value (USD Billion)
By Product Type
By Waste Generators
By Waste Type