Global Sharps Containers Market to Register Growth in Incremental Opportunity after COVID-19 pandemic

Containers which are used in biomedical waste disposal and other medical waste disposal are termed as sharps containers. These are designed to be used primarily for hazardous instruments. These containers are composed of plastics, to reduce the risk of infections or injury. Sharps containers can be used to hold products such as syringes, and needles. These products are designed to be leak proof, puncture resistant containers for safe, convenient, disposals.

Sharps Containers Market: Drivers and Restraints

The improving access to healthcare with the rapid penetration of technology and other developments in the healthcare sector has increased the usage of sharps containers thereby directly creating a positive impact on sharps containers market. Furthermore, growing health care budgets of developed and developing countries are also making a significant contribution towards propelling the sale of sharps containers market. Sharps containers market is driven by increasing demand by increasing demand for syringes, saline needles, catheters, and reagents in hospitals and other laboratory research studies. In addition to this sharps containers market also observes significant growth due to the stringent regulations by the government in developed and developing countries.

Sharps Containers Market, however, faces certain issues such as improper disposal owing to low adoption in home healthcare. Sharps Containers Market is also associated with a significant number of risks regarding low awareness for home healthcare.

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Sharps Containers Market: Segmentation

The market for sharps containers is segmented by product type, end user and regions:

By product type, the sharps containers market can be segmented into:

  • Single-Use Sharps Containers
  • Reusable Sharps Containers

Based on end user the sharps containers market can be segmented into:

  • Hospitals
  • Ambulatory Surgical Centers
  • Research Laboratories
  • Diagnostic Laboratories
  • Home Healthcare
  • Others

Sharps Containers Market: Overview

Sharps containers are recommended by the regulatory agencies for products which are hazardous to be immediately disposed in sharps containers. The availability of sharps containers is via general pharmacies, medical supply companies, healthcare providers, and other online sources. Bio-hazardous waste needs injury free and utmost care disposal and sharps containers are utilized for the safe disposal.

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Sharps Containers Market: Region-wise Outlook

Regionally, the market for sharps containers is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America sharps containers market dominated the global sharps containers market due to the stringent regulatory guidelines by the U.S. Food and Drug Administration. According to the U.S. Food and Drug Administration, it is recommended that the used needles and other sharps should be immediately placed in FDA cleared sharps disposal containers. The region is expected to continue its dominance in the coming years owing to increasing infections and other diseases. At present, North America holds a leading position in the sharps containers market followed by Europe. Following North America, Europe region is also anticipated to show steady growth in the sharps containers market. In the next few years, Asia-Pacific would show remarkable growth in the sharps containers market as it is developing at a very rapid pace and has shown the emergence of many regional players. The factors which would fuel the growth of sharps containers market in Asia-Pacific are rising healthcare infrastructure and rapid development of the healthcare infrastructure across the Asian countries. Sharps containers market would evolve at a rapid rate across the regions. However, North America would maintain its position in the overall sharps containers market.

Sharps Containers Market: Key Players

Some of the players of sharps containers market include Sharps Compliance, Inc., Stericycle, Becton, Dickinson and Company, Medtronic Plc., MarketLab, Inc., GPC Medical Ltd, Medu-Scientific Ltd., Henry Schein, Inc., and Dailymag Magnetic Technology (Ningbo) Limited. Furthermore, companies are also anticipated to focus on expanding their capacities to cater to the vast unmet medical needs of the world.

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