Future Market Insights (FMI) projects robust demand for sharps containers in Europe, spurred by heightened safety awareness and the increasing adoption of versatile designs. These specialized containers, designed specifically for safe disposal of medical waste, particularly needles, shield hospital staff and others from sharps injuries. This comprehensive FMI report delves into the dynamics of this burgeoning market, highlighting compelling opportunities for stakeholders.
Newark, Del., Dec. 11, 2023 /PRNewswire/ -- The Europe sharp container industry is expected to reach US$ 172.1 million in 2024. According to projections, the industry is expected to reach US$ 262.2 million in 2034. Between 2024 and 2034, the industry is projected to exhibit a CAGR of 4.3%.
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A sharps container is specially designed for disposing of medical waste, including needles. To prevent sharps injuries caused by needles or other sharp devices, these measures are designed to protect hospital employees, including sharps users and others downstream.
Manufacturers have introduced numerous new designs of sharps containers since the CDC last inspected them in August-September 1993, potentially reducing needle tick injuries and other sharp-object injuries (SOIs). Sharps containers with these designs are more convenient, durable, and less likely to be overfilled.
Various FDA-cleared sharps disposal containers are recommended for disposal of used needles and other sharp objects. Many pharmacies, medical supply stores, health care providers, and online outlets sell FDA-cleared sharps disposal containers. For health care professionals and the general public, these containers have been approved by the FDA for their safety and effectiveness in reducing sharps injuries and infections.
Sharps disposal containers with FDA clearance were limited during the COVID-19 mass vaccination campaign. As a precaution, health care facilities and vaccination sites for COVID-19 used sharps disposal containers that comply with the Bloodborne Pathogens standard issued by the Occupational Safety and Health Administration (OSHA).
Healthcare industries around the world are also recognizing the importance of managing hospital waste correctly. Hospital waste containers are also expected to gain traction over the forecast period owing to their increasing use. As environmental concerns become more prominent, medical waste management may move towards more sustainable and eco-friendly practices, changing the type of used containers.
"A growing awareness about the harmful effects of sharp disposal on the environment and humans is expected to drive sales of these products. The increased government regulations regarding the handling of these containers and the growth in hospitals will drive demand for these products in the coming years," says Ismail Sutaria (Lead Consultant, Packaging and Materials).
Key Takeaways
- Reusable segment is expected to account for 63.4% of the industry share in 2024.
- In Germany, Europe sharp container sales are projected to increase by 3.1% CAGR from 2024 to 2034.
- Europe sharp containers are expected to expand at a CAGR of 4% in the United Kingdom.
- Europe sharp container sales in France is expected to rise at a 3.6% CAGR from 2024 to 2034.
- Based on end use, hospital segment is expected to hold 36.3% of the industry share in 2024.
European Sharp Container Market Competitive Landscape
Players in the waste industry are constantly changing and adapting to the changing landscape. Different strategies are being used to stay competitive and meet the changing needs of their clients.
Industry Developments Include
- In March 2022, Hamilton Beach Brands, Inc., and HealthBeacon plc launched a new direct-to-consumer website for Smart Sharps Bins powered by HealthBeacon in the United States.
- In August 2022, Aurora Capital Partners, acquired Sharps Compliance Corp. Along with developing a leading mail-back solution and an expanding route-based service, Sharps established itself as a pioneer in the unused medication disposal industry along with developing a leading mail-back solution.
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More Valuable Insights Available
Future Market Insights offers an unbiased global market analysis, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the Europe sharp container market, the market is segmented based on Usage (Disposable, Reusable), Capacity (Up to 5L, 5L to 10L, Above 10L), End Use (Hospitals, Research Centers, Pharmaceutical Companies, Other Government Institute) and Country (United Kingdom, Germany, France, Italy, Spain, and Rest of Europe).
Unveiling the Dynamics of the Sharp Container Market Study in Europe: Access Our Comprehensive Research Methodology
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends, including competitive landscape, profit margin, and research development efforts.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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