Sharps Containers Market Size

Sharps Containers Market Size

Sharps Containers Market size was valued at around USD 554.4 million in 2023 and is expected to grow at a CAGR of 4.5% from 2024 to 2032. This robust market growth can be attributed to factors such as the rising number of surgeries coupled with the increasing volume of medical waste generated globally.

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As the demand for surgeries increases, the need for safe and effective disposal of sharp medical instruments, such as needles and scalpels also rises. For instance, according to an article published by the National Library of Medicine, in 2020, around 310 million major surgeries are performed each year globally, of which around 40 million are performed in the U.S. and 20 million in Europe. Sharps containers play a crucial role in ensuring proper containment and disposal of these potentially hazardous materials, contributing to the overall safety of healthcare professionals, patients, and the environment. This surge in surgical activities amplifies the importance and demand for sharps containers in healthcare settings, propelling the market expansion.

Moreover, with the rising population and increasing healthcare activities worldwide, there is a consequential surge in the amount of medical waste, particularly sharp objects such as syringes and needles. Sharps containers provide a secure and hygienic way to collect and dispose of used needles and other sharps, reducing the risk of needlestick injuries and the potential transmission of infectious diseases, thereby contributing to the market growth.

Sharps containers are specially designed receptacles intended for the safe disposal of medical sharp instruments, such as needles, syringes, lancets, and scalpels. These containers are an essential component of medical waste management practices, ensuring the safe handling and disposal of sharps waste in accordance with regulatory guidelines and standards.