Sharps Containers are important in terms of handling waste produced by medical institutes and healthcare centers and household waste. Such waste usually consists of hypodermic needles, syringes, disposable scalpels, catheters and other metal sharps waste.
In a recent sharps containers market study, Transparency Market Research (TMR) notes that the market will chart a steady 4.4% of CAGR (Compound Annual Growth Rate), between 2017 and 2025, taking the market worth up to USD 660.9 mn by the end of the forecast period from a USD 450 million observed in the year of 2016.
A number of trends and drivers are pushing the global sharps containers market on an upward growth trajectory and some of these include strict government regulations governing medical waste and rise in surgical operations.
The global sharps container market is fragmented and prominent players in the market are Medtronic, Becton, Dickinson and Company, Daniels Health, Sharps Compliance, Inc., MAUSER, EnviroTain, LLC, Bondtech Corporation, Bemis Manufacturing Company, and Henry Schein, Inc, among others
Increase in Geriatric Waste to Pave the Way for Growth in Sharps Containers Market over the Forecast Period
Geriatric population is reaching new highs. And, as per a recent study, it is believed that over the next 20 years – by 2050 – 2 billion people will occupy the age group of 60 and above. It is quite interesting to note here that it is a steep rise from a mere 900 million in the year 2015. Aldo, in these three decade, the world will see one in every six people flank the 65 an over age group – a condition more pronounced in Europe and North America (one in every four people from the two regions to occupy the stated age bracket.
In fact, there is a massive demographic shift that was noted in the year 2018. History was created when for the first time in the year the number of people in the age group of 5 and below was surpassed by the number of people aged 65 and above.
These demographics are susceptible to illness and chronic diseases, requiring surgeries often. Therefore, it remains a critical consumer segment for the healthcare, and thus sharps market. Besides a rise in disposable income is positively contributing to this growth.
North America to Demonstrate Impressive Performance over the Forecast Period
Thanks to rising geriatric population, robust healthcare infrastructure, a good reimbursement policy and presence of numerous prominent market players, the North American region will account for a major share of the global sharps market over the forecast period. The other region that will present players with new opportunities include the Asia Pacific (APAC) which is witnessing great economic performance by nations marking the regional landscape. This is leading to a rise in disposable income.
The report is segmented as presented below:
The global sharps containers market has been segmented as follows:
Medical Waste Generator
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
US Office Contact