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.
- 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.
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.
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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.
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.
Source: Globenews Wire