Sharps Containers Market Size, Share, Growth by 2030

The market for sharps containers is projected to expand from US$ 498.07 million in 2022 to US$ 725.05 million by 2030, reflecting a compound annual growth rate (CAGR) of 4.8% during the period from 2022 to 2030.

Several factors are anticipated to contribute to the growth of the sharps containers market, including an increase in medical waste generation and a rise in hospital admissions in both public and private healthcare facilities worldwide. Additionally, the increasing adoption of multipurpose containers is expected to further enhance market growth throughout the forecast period. However, a significant challenge remains due to the lack of awareness regarding effective methods for the containment and disposal of sharps waste, which may impede market expansion.
The Rise of Multipurpose Containers as a Catalyst for Market Growth
Multipurpose containers are designed to accommodate a wide range of sharps, as they tend to be larger than standard containers. Their versatility makes them popular in various applications, and they are available in multiple sizes and shapes, catering to the needs of healthcare providers, research institutions, and hospitals. These containers are not limited by space or specific functions, allowing for easy use in diverse settings. They are also straightforward to assemble and cost-effective. Furthermore, they provide enhanced safety for healthcare professionals and are environmentally sustainable, as they can be disinfected and reused. Notable companies in this sector include Cardinal Health, Becton, Dickinson, and Company, and EnviroTain.
The increasing volume of medical waste and the pressing need for proper disposal methods are key drivers for the demand for multipurpose containers, which are favored by numerous medical facilities. For instance, a report from the World Health Organization in April 2022 highlighted that Africa generates approximately 282,000 tons of medical waste annually, a figure that has surged due to the COVID-19 pandemic, which saw the administration of around 435 million vaccines in the region. Additionally, the "German Cardiac Surgery Report 2020" indicated that there were 92,809 cardio-surgical procedures, including 29,444 coronary artery bypass surgeries and 35,469 heart valve surgeries, with isolated heart transplants increasing by 2% to 340. The growing amount of medical waste, coupled with the frequency of surgeries and the advantages of multipurpose containers, is expected to drive the market for these products, thereby enhancing the overall sharps containers market.
The global sharps containers market is categorized based on product type, usage, waste type, waste generator, container size, and distribution channel. In terms of product type, the market includes multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment currently holds the largest market share and is projected to experience the highest CAGR from 2022 to 2030. These containers are designed to accommodate various sizes of sharps and feature both temporary and permanent closure options. They are available with different lid types, such as flip, slide, or rotary, and are adaptable to various environments, making them user-friendly and affordable. Their design prioritizes safety for medical staff and environmental considerations, further supporting their market growth.
In terms of usage, the sharps containers market is divided into reusable and disposable containers. In 2022, reusable containers dominated the market share; however, the disposable containers segment is expected to achieve the highest CAGR during the forecast period. Disposable containers, also referred to as single-use sharps containers, are particularly convenient for collecting sharps waste in patient care settings. These containers are regulated by the FDA as Class II devices and must meet pre-market notification requirements (21 CFR 880.5570; product codes MKK and FMI). FDA-approved sharps disposal containers come in various sizes, including compact travel options for use outside of home settings. Consequently, the factors mentioned are likely to propel the disposable containers segment, thereby boosting the overall sharps containers market.
The market is also segmented by waste type into infectious and non-infectious waste. The infectious waste segment held the largest market share in 2022 and is expected to grow at the highest CAGR through 2030. Infectious waste includes sharps such as syringes, needles, lancets, and broken glass, all of which pose significant health risks due to their potential for pathogen contamination. According to the World Health Organization, the majority of the 16 billion injections administered annually result in sharps waste, primarily syringes.
Regarding waste generators, the market is divided into hospitals, pharmaceutical companies, laboratories, clinics, and physician offices. In 2022, hospitals represented the largest market segment and are projected to maintain the highest CAGR from 2022 to 2030. The market is also categorized by container size, including 1-3 gallons, 4-6 gallons, 7-8 gallons, and others. The 1-3 gallons segment held the largest share in 2022 and is expected to see the highest growth rate during the forecast period. Finally, the distribution channels for sharps containers include medical supply companies, pharmacies, online sales, and others. In 2022, medical supply companies held the largest market share, while online sales are anticipated to experience the highest CAGR from 2022 to 2030.
Key sources referenced in the analysis of the sharps containers market include the Canadian Addiction Treatment Centers (CATC), the Centers for Disease Control and Prevention (CDC), the Federal Environment Agency, and various health departments and organizations.