What is the global market size of Sharps Containers Market?

Global Sharps Containers Market size was valued at USD 430.8 million in 2021 and is poised to grow from USD 581.88 million in 2022 to USD 3640.95 million by 2030, growing at a CAGR of 3.9% in the forecast period (2023-2030).

Sharps Containers Market Size, Share, Growth Analysis, By Product Type(Multipurpose Containers, Patient Room Containers, Phlebotomy Containers), By Waste Generators(Hospitals, Other Healthcare Providers, Pharmacies, Academic & Research Institutes), By Usage(Reusable, Single-Use Containers), By Waste Type(Sharps Waste, Infectious Waste, Non-Infectious Waste, Pharmaceutical Waste), By Size(1–2 Gallons, 2–4 Gallons, 4–8 Gallons, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15G2026 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 148 | Figures: 78

Sharps Containers Market News

In July 2022, Sharps Compliance Corp. ("Sharps" or the "Company"), a top full-service national supplier of comprehensive waste management solutions, including for medical, pharmaceutical, and hazardous waste, announced today that it has signed a binding merger agreement to be acquired by an affiliate of top middle-market private equity firm Aurora Capital Partners ("Aurora").
In February 2022, the acquisition of Midwest Medical Waste, Inc., a full-service, route-based provider of medical and hazardous waste solutions serving over 600 customer locations throughout Kansas, was announced today by Sharps Compliance Corp. (NASDAQ: SMED), a leading full-service national provider of comprehensive waste management solutions, including medical, pharmaceutical, and hazardous. The purchase price, $4.35 million, was made up of 25% in Sharps Compliance shares and 75% cash.

Sharps Containers Market Report Snapshots

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Sharps Containers Market size was valued at USD 430.8 million in 2022 and is poised to grow from USD 581.88 million in 2023 to USD 3640.95 million by 2031, growing at a CAGR of 3.9% in the forecast period (2024-2031).

The Global Sharps Containers market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Sharps Compliance, Inc.', 'MAUSER Group', 'Becton, Dickinson and Company', 'Daniels Health', 'Henry Schein, Inc.', 'Stericycle, Inc.', 'Medtronic plc', 'EnviroTain, LLC', 'UltiMed, Inc.', 'Covidien plc', 'Axelgaard Manufacturing Co., Ltd.', 'Bondtech Corporation', 'Bemis Manufacturing Company', 'VWR International, LLC', 'Eagle Manufacturing Company', 'Schreiber GmbH', 'Kendall Healthcare Products Company', 'Pacific Hospital Supply Co., Ltd.', 'Veolia Environmental Services', 'Transcendia, Inc.'

The collection, separation, and disposal of the medical, infectious, and hazardous waste produced by healthcare institutions is largely their responsibility. Large volumes of disposable trash are being produced as a result of rising infectious disease incidence, an increase in hospital visits and admissions, and a rise in the need for diagnostic and clinical tests. The disposal of medical waste must be done properly since it is not included in the ordinary waste disposal process.

Sharp objects like needles, syringes, lancets, and other items may be safely disposed of using biomedical waste containers, which have shown to be useful in this regard. Plastic that is robust and sturdy and can withstand repeated usage after disinfection makes up the container. Sharps containers are available in a range of sizes and forms, and each have specific uses. The producers are always focused on following the rules established by the government to provide disposable containers that are safe for the environment.

During the projected period, North America is expected to become the dominating region in the global sharps containers market. The region's market would increase as a result of firms there quickly adopting regulations set by regulatory agencies governing the management and disposal of medical and hazardous waste. Along with these factors, efforts to raise awareness of waste management, concentration on mergers with public & private businesses, and a vast distribution network are anticipated to drive market expansion in North America over the projection period.

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