The increasing need for effective waste management is a key factor driving the global “sharps containers market”, 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 global sharps containers market 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%.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.
The report is focused on offering the best information, an explanatory study consisting of various aspects enabling key players the competence to remain consistent in the global sharps containers market. The report also discusses in-depth about the recent innovations and industrial development in the global sharps containers market
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. It has become a mandate for all the pharmaceutical companies, research institutes, hospitals, and other healthcare providers to comply with the set of guidelines given by the governing bodies.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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.
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.
- GPC Medical
- Other Prominent Players