Global Sharps Containers Market Report and Forecast 2024-2032

Sharps Containers Market Size

The global sharps containers market was valued at USD 551.20 million in 2023, driven by the rising need for safe and effective medical waste disposal across the globe. The market size is anticipated to grow at a CAGR of 4% during the forecast period of 2024-2032 to achieve a value of USD 784.53 million by 2032.

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Sharps Containers Market Outlook

• The growing global healthcare awareness and stringent regulations for medical waste management are driving demand for sharps containers.

• Technological advancements in sharps container design and materials for enhanced safety and durability are expected to elevate the market value in the forecast period.

• Increasing investments in healthcare infrastructure and waste management systems are anticipated to promote the adoption of sharps containers.

Sharps Containers Market Overview

Sharps containers refer to puncture-resistant containers that are used in healthcare settings for the safe disposal of medical instruments (such as needles, syringes, lancets, scalpels, and other sharp objects) that can cut or pierce the skin. These containers are specially designed to prevent injury, contamination, and the spread of infections. The market is driven by the implementation of stringent regulations surrounding healthcare waste management, which is prompting healthcare providers to use certified and approved sharps containers.

 
The expansion of healthcare facilities, including hospitals and clinics, is boosting the need for effective sharps disposal solutions. The development of advanced materials and locking mechanisms for improved safety and tamper resistance is a significant trend poised to propel the market demand. Further, the rising integration of smart technology for tracking and monitoring sharps disposal and container usage and the increasing deployment of eco-friendly and biodegradable sharps containers to address environmental concerns are some of the factors influencing the market landscape.

Sharps Containers Market Growth Drivers

Expansion of Healthcare Infrastructure to Boost Market Growth

The market growth of the sharps containers is primarily driven by the rapid expansion of healthcare infrastructure, especially in developing regions. The need for effective medical waste management solutions including sharp containers is increasing as a result of the establishment of new hospitals, clinics, and other healthcare facilities. Better access to healthcare through rapid technological penetration and further advances in the healthcare sector is augmenting the use of sharps containers, which brings a positive impact on the market demand. Additionally, the increasing healthcare budgets in developed and developing countries are also making a major contribution to market growth. Moreover, the market for sharps containers is driven by the growing demand for syringes, saline needles, catheters, and reagents in hospitals and other healthcare settings.

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Sharps Containers Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Increased Focus on Healthcare Waste Management in Developing Regions to Affect the Market Landscape Significantly

Healthcare waste management is a big issue in the developing countries. For instance, in Ethiopia, around 35% of the healthcare facilities collect and dispose of needles and syringes in such a way that can increase their risk of injury and exposure. Healthcare waste is disposed of in the same pits where urban waste is disposed which can increase the health risks among people collecting and handling waste. This necessitates the requirement for effective medical waste management solutions such as sharp containers. The increased focus on healthcare waste management and promotion of safe waste management practices by international organizations and NGOs in developing regions is a growing trend that is likely to support market growth.

Shift towards Reusable Sharp Containers to Augment Sharps Containers Market Demand

The rising shift towards reusable sharps containers due to rising environmental concerns and cost-effectiveness is a prominent trend in the market. These containers can reduce the waste caused by single-use plastic and increase savings in the healthcare sector. For instance, in June 2024, Grundon announced the launch of a reusable sharps container service in collaboration with Inpress Precision, a manufacturer in the medical and healthcare sector. These reusable sharps containers can reduce the carbon waste by 87%.

Innovations in Sharps Containers Set to Elevate the Sharps Containers Market Value

One of the significant market trends is the rising innovations in the design and manufacturing of sharps containers. These advancements are making these products more user-friendly, efficient, and safer, which is set to elevate the market value. In addition, the development of smart sharps containers that have the capability to monitor fill levels and notify users when they need to be replaced is expected to bolster the market demand in the forecast period.

Rising Public Awareness and Initiatives Poised to Boost Sharps Containers Market Size

Several areas and regions across the world are initiating programs to encourage the safe disposal of sharps in proper containers. For example, Naperville, USA announced the launch of the Residential Sharps Disposal Program to encourage the proper disposal of sharps among the residents. Meanwhile, the FDA strongly recommends that needles and other sharps should be put in FDA-cleared sharps disposal containers that are available in pharmacies and online channels. The growing public awareness about the importance of safe sharps disposal is expected to contribute to the market growth of sharp containers.

Sharps Containers Market Segmentation

Market Breakup by Product Type
 

• Patient Room Containers

• Phlebotomy Containers

• Multipurpose Containers

Market Breakup by Usage 

• Single-Use Containers

• Reusable Containers

Market Breakup by Container Size
 

• 1-2 Gallons

• 2-4 Gallons

• 4-8 Gallons

• Others

Market Breakup by End User

• Hospitals & Clinics

• Pharmacies

• Pharmaceutical Companies

• Others

Market Breakup by Distribution Channel

• Direct Sales

• Online Sales

• Retail Sales

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Sharps Containers Market Share

The Product Type Segment Represents a Significant Market Share

Based on the product type, the market is segmented into patient room containers, phlebotomy containers, and multipurpose containers. Patient room containers are placed in a patient room in a healthcare facility for immediate disposal of sharps after use. They are typically smaller in size, portable, and have secure lids. Phlebotomy containers are used in blood collection areas and ensure the safe disposal of potentially infectious materials. On the other hand, multipurpose sharps containers are designed to be used in various healthcare settings including home healthcare environments and can accommodate a wide range of sharps waste.

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Sharps Containers Market Analysis by Region

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is leading the global market for sharps containers due to the strict healthcare waste management regulations by the United States Food and Drug Administration (FDA). As per the regulatory body, it is suggested that the used needles and any other sharps must be placed immediately in FDA-cleared sharps disposal containers. Such stringent regulations are expected to boost the market demand. Moreover, the advanced healthcare infrastructure and high prevalence of chronic diseases in the region further support market growth.

Leading Players in the Sharps Containers Market

The key features of the market report comprise patent analysis and strategic initiatives by the leading key players including mergers, collaborations and new product launches. The major companies in the market are as follows:

Sharps Medical Waste Services

Sharps Medical Waste Services is a waste management service in Houston, Texas that provides a comprehensive range of systems for collecting sharps, universal waste, unused medications, and regulated medical waste.

Stericycle, Inc.

Headquartered in Illinois, United States, Stericycle, Inc. is a leading provider of waste management services that offers solutions for collecting and disposing of pharmaceuticals, sharps medical waste, and other regulated medical waste.

Becton, Dickinson and Company

Becton, Dickinson and Company, commonly known as BD, has a prominent presence in the market. BD's sharps disposal solutions are known for their high quality and compliance with international standards. The company is focusing on developing sustainable sharps containers such as its BD Recykleen™ product line, which is made from recycled materials.

MarketLab, Inc.

MarketLab, Inc., a leading healthcare solutions organization, boasts a strong portfolio of healthcare products, including sharps containers. The company focuses on customer service and product reliability to maintain its position in the market.

Other key players in the market include GPC Medical Limited, Henry Schein, Inc., Dailymag, Daniels Health, BWAY, Inc., and Bondtech Corporation.

Key Highlights of the Report

Key Questions Answered in the Sharps Containers Market Report

• What was the global sharps containers market value in 2023?
• What is the global sharps containers market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product type?
• What is the market breakup based on usage?
• What is the market breakup by container size?
• Who are the major end users in the market?
• What are the major distribution channels in the market?
• What are the major factors aiding the global sharps containers market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How does the rising chronic disease burden affect the market landscape?
• What are the major global sharps containers market trends?
• How do healthcare waste management regulations impact the market dynamics?
• Which product type will dominate the market share? 
• Which usage is expected to have a high market value in the coming years?
• Which container size will experience the highest demand in the market segment?
• Which end user is projected to contribute to the highest market growth?
• Which distribution channel is poised to dominate the market share?
• Who are the key players involved in the sharps containers market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?