Sharps Containers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Sharps Containers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : August, 2020 | Medical Devices | PPT format

Report Digest

Global Sharps Containers Market: Overview

The demand within the global sharps containers market is slated escalate in the years to follow. The medical and healthcare industries are characterised by strict procedures to ensure safety and wellbeing of practitioners, staff, and patients. The healthcare industry takes premium care in ensuring that all the treatment procedures are handled with care and precision. In this quest, the industry stipulates several rules and regulations for various domains within healthcare. Management and storage of surgical tools and aids is an important area within healthcare. The need to protect these tools from rusting and other external attacks has created tremendous demand within the global sharps containers market. There is a wide range of possibilities for storing surgical aids, and air-tight containers are amongst the most feasible options.

A syndicate review on the global sharps containers market unravels an array of factors responsible for the growth of the global market. The global sharps containers market can be segmented on the basis of end-use, product type, usage, and region. The use of patient room containers has increased by leaps and bounds in recent times. This trend can be attributed to stipulation of strict safety procedures across the worldwide healthcare industry.

Global Sharps Containers Market: Notable Developments

The growth of the global sharps market has compelled the vendors to come up with new strategies for business development.

  • The global sharps containers market suffered a setback when the city of Parksville shunned the use of sharps disposal containers, that were later picked up by Island Health. The growing trend of avoiding plastic materials has led to the development of containers made from biodegradable materials. Therefore, a new vertical of products has been introduced within the global sharps containers market.
  • Sale of sharps containers to the medical industry follows an extensive supply chain. The containers have to undergo several nodes of approval and testing before they are finally used in the industry. Therefore, the presence of a robust supply chain is a strong value proposition for the vendors operating in the global sharps containers market.

Some of the prominent players in the global sharps containers market are:

  • Bondtech Corporation
  • Thermo Fisher Scientific Inc.
  • Henry Schein, Inc.
  • MAUSER Group
  • Stericycle
  • EnviroTain, LLC

Global Sharps Containers Market: Growth Drivers

  • Need for Invasive Procedures within Healthcare

    Rising incidence of chronic illnesses has led to an increase in the annual number of surgeries. It evident that an increase in surgical procedures across medical facilities would also increase the need for surgical aids such as forceps, blades, and incision tools. Therefore, the total volume of revenues within the global sharps containers market is slated to rise in the coming years. Several cases of medical negligence have resulted in severe complications during surgical procedures. Therefore, the medical industry is required to follow strict standards for handling and storing sharp objects during surgical procedures.

  • Use of Sharps Containers in Multiple Industries

    The use of sharps containers is not limited to the healthcare industry, and there are other key consumers of these containers. Storage of sharp objects in households is a matter of concern for parents. The need to prevent children as well as adults from coming in contact with sharps has led to increased demand within the market. Furthermore, sharps containers are also used by travellers to store several point-size objects such as needles, pins, and blades. There is little contention about the inflow of robust revenues within the global sharps containers market.

The global sharps containers market can be segmented by:

Product Type

  • Multipurpose Containers
  • Patient Room Containers
  • Phlebotomy Containers

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.