Pune, India, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The global sharps containers market size was valued at USD 449.1 Million in 2018 and is expected to reach USD 624.1 Million by 2026 at a CAGR of 4.2%. 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.
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.
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As per the report, the rising awareness regarding hazardous waste is expected to aid the growth of the global sharps containers market. For instance, according to World Health Organization, every year, 16 million injections are used worldwide but lack proper disposal of the same.
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.
Rising Government Initiatives Regarding Medical Waste Management Will Enable Growth
The rising need for effective medical waste management is expected to boost the global sharps containers market revenue during the forecast period. The increasing government efforts in implementing guidelines for effective disposal of medical waste will stimulate the growth of the global sharps containers market.
For instance, World Health Organization (WHO) along with other regulatory bodies in the countries worldwide, have set standard guidelines for disposal and management of biomedical waste.
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Partnership of PureWay with Safe Needle Disposal Will Favor Growth
PureWay, a health-focused organization specializing in medical waste management and compliance solutions, announced its partnership with Safe Needle Disposal, a non-profit devoted to educating the public about safe needle disposal programs. At-home sharps injectors will give access to a user-friendly informational resource and regulatory experts to help answer all their sharps-related questions.
It will also responsibly and affordably dispose of needles with new Safe Needle Disposal. The introduction of At-home sharps injectors will support the global sharps containers growth during the forecast period.
Furthermore, the acquisition of Daniels Healthcare Group by MAUSER is expected to create new growth opportunities for the global sharps containers market. For Instance, 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.
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The major players operating in the global sharps containers market are:
- 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
Global Sharps Containers Market Segmentations:
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)
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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