Global Sharps Containers Market to Grow at a CAGR of 4.8 % by 2028 - Digital Journal

2022-08-01 11:05:39 By : Ms. Jill Xie

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According to the latest research by SkyQuest Technology, the Global Sharps Containers Market was valued at US$ 488.96 billion in 2021, and it is expected to reach a market size of US$ 678.89 billion by 2028, at a CAGR of 4.8 % over the forecast period 2022–2028. The research provides up-to-date Sharps Containers Market analysis of the current market landscape, latest trends, drivers, and overall market environment.

Dangerous piercing equipment are stored in sharps containers, which are specially designed containers, to reduce the risk of damage and the spread of infection. Sharps containers are frequently used to store medical needles and any other pointed medical devices, such as IV catheters. Sharps containers must be sealed, appropriately labelled, and leak-proof. The disposal of biological waste is currently the major everyday problem facing medical professionals. Medical waste is disposable rubbish that is produced by hospitals, medication makers, academic institutions, and other healthcare providers. Among the trash are syringes, needles, contaminated glass, body scrapes, infectious bacteria, blood samples, and other objects.

Calculations based on data collected by CPCB via the BWM App, for instance, show that as of May 10, 2021, India has created about 45,954 tonnes of COVID-19 garbage. Since the first wave of the pandemic, 126 tonnes of COVID-19 waste have been generated daily, making up around 20% of the 614 tonnes of biomedical waste that the country generates each day. Use biomedical waste containers, which have shown to be helpful in this respect, to properly dispose of sharp things such as needles, syringes, lancets, and other items. The container is made of durable plastic that can survive repeated use after disinfection.

The World Health Organization calculates those 16 million injections are given each year, but there aren’t enough facilities to dispose of them. Additionally, only 15% of the entire amount of medical waste produced is hazardous waste, whereas the other 85% is regular, non-hazardous waste. The hazardous microorganisms in this created rubbish risk not just to the environment but also to healthcare staff.

Read Market Research Report, “Global Sharps Containers Market By Type (Multipurpose Containers, Patient Room Containers, Phlebotomy Containers), Waste Generation (Hospitals, Other Healthcare Providers, Pharmacies, Academic & Research Institutes, Pharmaceutical Companies, Others), Usage Analysis (Reusable, Single-Use Containers), Waste Type (Sharps Waste, Infectious Waste, Non-Infectious Waste, Pharmaceutical Waste), Size (1–2 Gallons, 2–4 Gallons, 4–8 Gallons, Others), and Region —Forecast and Analysis 2022–2028” By Skyquest

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Multipurpose containers have led the global sharps containers market in 2021 as a result of their adaptability in a range of applications, accessibility in a variety of sizes and shapes, and demand from hospitals, research institutions, and healthcare organizations. Multifunctional containers have dominated the market because of their adaptability in a wide range of applications, availability in a wide range of sizes and shapes, and demand from hospitals, research centers, and healthcare organizations. Hospitals in the US produce more than 5.9 million tonnes of medical waste yearly, which equates to 33 pounds of trash for every bed that is staffed each day. And it doesn’t include the small-scale producers of medical waste around the country in the industries of medicine, dentistry, veterinary medicine, pharmacy, and home care.

The hospital industry generated the most revenue and is predicted to dominate the global sharps containers market throughout the forecasted period. The factors that cause this growth include the production of a lot of waste, which necessitates the use of more disposable containers, the increasing need for waste management and disposal, adherence to legal requirements for the disposal of medical waste, an increase in the number of operations and infections, and an increase in patient visits. The average, non-hazardous waste that is generated by healthcare activities makes up around 85% of the garbage. Hazardous materials, which can be radioactive, toxic, or infectious, make up the remaining 15% of the total. An estimated 16 billion injections are administered annually around the world.

The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Sharps Compliance, Inc., Clean Harbours, EnviroTain, LLC., Bondtech Corporation, MAUSER Group, Daniels Healthcare Group, Henry Schein, Inc., Thermo Fisher Scientific Inc., Stericycle, GPC Medical, MedPro Waste Disposal LLC among others.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Sharps Containers Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

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What does this Report Deliver?

SkyQuest has Segmented the Global Sharps Containers Market based on Product Type, Waste Generator, Usage, Waste Type, Size, and Region:

Key Players in the Global Sharps Containers Market

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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