The Asia Pacific sharps containers market is expected to grow from US$ 133.10 million in 2022 to US$ 203.52 million by 2030. It is estimated to grow at a CAGR of 5.5% from 2022 to 2030.
Government agencies make the necessary efforts to implement guidelines for the effective disposal of medical waste. The World Health Organization (WHO) and other regulatory agencies worldwide have established standard guidelines for the disposal and management of biomedical waste. All pharmaceutical companies, research institutes, hospitals, and other healthcare providers must comply with governing body guidelines. Manufacturers are also required to follow certain guidelines when manufacturing sharps containers.
Therefore, the increase in initiatives and guidelines by regulatory agencies for the safe disposal of sharps is expected to provide growth opportunities for the Asia Pacific sharps containers market.
Based on product, the Asia Pacific sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment held the largest share of the Asia Pacific sharps containers market in 2022.
Based on usage, the Asia Pacific sharps containers market is segmented into reusable containers and disposable containers. The reusable containers segment held a larger share of the Asia Pacific sharps containers market in 2022.
Based on waste type, the Asia Pacific sharps containers market is segmented into infectious waste and non-infectious waste. The infectious waste held a larger share of the Asia Pacific sharps containers market in 2022.
Based on waste generators, the Asia Pacific sharps containers market is segmented into hospitals, pharmaceutical companies, laboratories, clinics & physician’s offices, and others. The hospitals held the largest share of the Asia Pacific sharps containers market in 2022.
Based on container size, the Asia Pacific sharps containers market is segmented into 1-3 gallons, 4-6 gallons, 7-8 gallons, and others. The 1-3 gallons held the largest share of the Asia Pacific sharps containers market in 2022.
Based on distribution channel, the Asia Pacific sharps containers market is segmented into medical supply companies, pharmacies, online sale, and others. The medical supply companies held the largest share of the Asia Pacific sharps containers market in 2022.
Based on country, the Asia Pacific sharps containers market is segmented int o China, Japan, India, South Korea, Australia, and the Rest of South Korea. China dominated the Asia Pacific sharps containers market in 2022.
Stericycle Inc, Dailymag Magnetic Technology Ltd, GPC Medical Ltd, and Becton Dickinson and Co are some of the leading companies operating in the Asia Pacific sharps containers market.
Increasing Government Initiatives for Safe Sharps Disposal Fuels Asia Pacific Sharps Containers Market
Today, safe practices related to the handling and disposal of sharp healthcare instruments are being implemented to protect staff, patients, and visitors from exposure to bloodborne infections. In addition, concerned authorities, such as National Health Service (NHS) and Food and Drug Administration (FDA), have taken sharps disposal initiatives to reduce the risks involved. The waste is classified as biomedical waste, which includes items that can pierce the skin, such as blades, needles, syringes, lancets, knives, scissors, broken glass, and sharp plastic. The ultimate goal of sharps waste management is to carefully handle and treat sharp materials until disposal.Government agencies make the necessary efforts to implement guidelines for the effective disposal of medical waste. The World Health Organization (WHO) and other regulatory agencies worldwide have established standard guidelines for the disposal and management of biomedical waste. All pharmaceutical companies, research institutes, hospitals, and other healthcare providers must comply with governing body guidelines. Manufacturers are also required to follow certain guidelines when manufacturing sharps containers.
Therefore, the increase in initiatives and guidelines by regulatory agencies for the safe disposal of sharps is expected to provide growth opportunities for the Asia Pacific sharps containers market.
Asia Pacific Sharps Containers Market Overview
The Asia Pacific sharps containers market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The large population countries such as China and India are expected to boost the Asia Pacific sharps containers market owing to increased focus of market players on these regions and introduction of new products or therapies in the country. With strong business prospects in Asia Pacific, companies focus on expanding product portfolios, diversifying business operations, minimizing overall costs, and providing maximum user satisfaction. The rapid prevalence of diabetes and rising incidence of skin rejuvenation through cosmetic procedures to improve aesthetic appeal are a few factors expected to positively impact the market growth over the forecast period. Additionally, a strong product pipeline portfolio and future commercialization of sharps containers are expected to provide a future growth opportunity for market players in Asia Pacific. Therefore, the region holds a huge potential for Asia Pacific sharps containers market players.Asia Pacific Sharps Containers Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Sharps Containers Market Segmentation
The Asia Pacific sharps containers market is segmented into product, usage, waste type, waste generators, container size, distribution channel, and country.Based on product, the Asia Pacific sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment held the largest share of the Asia Pacific sharps containers market in 2022.
Based on usage, the Asia Pacific sharps containers market is segmented into reusable containers and disposable containers. The reusable containers segment held a larger share of the Asia Pacific sharps containers market in 2022.
Based on waste type, the Asia Pacific sharps containers market is segmented into infectious waste and non-infectious waste. The infectious waste held a larger share of the Asia Pacific sharps containers market in 2022.
Based on waste generators, the Asia Pacific sharps containers market is segmented into hospitals, pharmaceutical companies, laboratories, clinics & physician’s offices, and others. The hospitals held the largest share of the Asia Pacific sharps containers market in 2022.
Based on container size, the Asia Pacific sharps containers market is segmented into 1-3 gallons, 4-6 gallons, 7-8 gallons, and others. The 1-3 gallons held the largest share of the Asia Pacific sharps containers market in 2022.
Based on distribution channel, the Asia Pacific sharps containers market is segmented into medical supply companies, pharmacies, online sale, and others. The medical supply companies held the largest share of the Asia Pacific sharps containers market in 2022.
Based on country, the Asia Pacific sharps containers market is segmented int o China, Japan, India, South Korea, Australia, and the Rest of South Korea. China dominated the Asia Pacific sharps containers market in 2022.
Stericycle Inc, Dailymag Magnetic Technology Ltd, GPC Medical Ltd, and Becton Dickinson and Co are some of the leading companies operating in the Asia Pacific sharps containers market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Asia Pacific Sharps Containers Market Landscape
5. Asia Pacific Sharps Containers Market - Key Industry Dynamics
6. Sharps Containers Market - Asia Pacific Market Analysis
7. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Product
8. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Usage.
9. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Waste Type
10. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Waste Generators
11. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Container Size
12. Asia Pacific Sharps Containers Market - Revenue and Forecast to 2030 - by Distribution Channel
13. Asia Pacific Sharps Containers Market - Country Analysis
14. Asia Pacific Sharps Containers Market, Key Company Profiles
15. Appendix
List of Tables
List of Figures
Executive Summary
At 5.5% CAGR, the Asia Pacific Sharps Containers Market is Speculated to be Worth US$ 203.52 Million by 2030.According to this research, the Asia Pacific sharps containers market was valued at US$ 133.10 million in 2022 and is expected to reach US$ 203.52 million by 2030, registering a CAGR of 5.5% from 2022 to 2030. Increase in generation of medical waste and rise in hospitalizations in private and public hospitals across the globe are among the critical factors attributed to the Asia Pacific sharps containers market expansion.
Hospitals generate a large amount of waste, so more single-use containers are required. Growing need for waste disposal and management and regulatory compliance for medical waste disposal, increasing surgeries and infections, and surging patient visits to hospitals are driving the sharps container market. The increasing use of sharps with the proliferation of healthcare facilities, rise in surgical procedures, and growing healthcare concerns due to needlestick injuries fuel the demand for sharps disposal products. Several studies found that healthcare facilities still dispose of injections and other sharps waste in open pits or boxes instead of using disposal containers, which in turn increases the need to use effective sharp drop devices in these facilities. The continued development and updating of government policies and initiatives by public/private entities related to waste management will require compliance.
The increasing burden of chronic diseases is leading to a rise in the number of surgical procedures worldwide in which sharp medical instruments such as scalpels, needles, intravenous injections, and other devices are widely used. This is expected to fuel the demand for sharps containers, driving the market. According to the research study titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage," published in September 2020, ~11% of the global burden of disease requires surgical procedures or anesthetic care or both and estimated 3,646 surgeries would be required annually to meet the surgical needs of the Indian population, compared to the global estimate of 5,000 surgeries per 100,000 people. Therefore, with the growing demand for surgical procedures, the amount of medical waste in hospitals is increasing, boosting demand for sharps containers to dispose of the waste.
On the contrary, lack of awareness about proper methods of sharps waste containment & disposal hampers the Asia Pacific sharps containers market.
Based on product, the Asia Pacific sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment held 42.4% share of Asia Pacific sharps containers market in 2022, amassing US$ 56.42 million. It is projected to garner US$ 88.65 million by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on usage, the Asia Pacific sharps containers market is segmented into reusable containers and disposable containers. The reusable containers segment held 63.9% share of Asia Pacific sharps containers market in 2022, amassing US$ 85.08 million. It is projected to garner US$ 126.81 million by 2030 to expand at 5.1% CAGR during 2022-2030.
Based on waste type, the Asia Pacific sharps containers market is segmented into infectious waste and non-infectious waste. The infectious waste segment held 71.7% share of Asia Pacific sharps containers market in 2022, amassing US$ 95.41 million. It is projected to garner US$ 147.93 million by 2030 to expand at 5.6% CAGR during 2022-2030.
Based on waste generators, the Asia Pacific sharps containers market is segmented into hospitals, pharmaceutical companies, laboratories, clinics & physician’s offices, and others. The hospitals segment held 46.1% share of Asia Pacific sharps containers market in 2022, amassing US$ 55.52 million. It is projected to garner US$ 89.65 million by 2030 to expand at 6.2% CAGR during 2022-2030.
Based on container size, the Asia Pacific sharps containers market is segmented into 1-3 gallons, 4-6 gallons, 7-8 gallons, and others. The 1-3 gallons segment held 40.5% share of Asia Pacific sharps containers market in 2022, amassing US$ 53.91 million. It is projected to garner US$ 85.13 million by 2030 to expand at 5.9% CAGR during 2022-2030.
Based on distribution channel, the Asia Pacific sharps containers market is segmented into medical supply companies, pharmacies, online sale, and others. The medical supply companies segment held 46.2% share of Asia Pacific sharps containers market in 2022, amassing US$ 61.43 million. It is projected to garner US$ 95.66 million by 2030 to expand at 5.7% CAGR during 2022-2030.
Based on country, the Asia Pacific sharps containers market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of South Korea. Our regional analysis states that China captured 34.4% share of Asia Pacific sharps containers market in 2022. It was assessed at US$ 45.81 million in 2022 and is likely to hit US$ 70.68 million by 2030, exhibiting a CAGR of 5.6% during 2022-2030.
Key players operating in the Asia Pacific sharps containers market are Stericycle Inc, Dailymag Magnetic Technology Ltd, GPC Medical Ltd, and Becton Dickinson and Co, among others.
Companies Mentioned
- Stericycle Inc
- Dailymag Magnetic Technology Ltd
- GPC Medical Ltd
- Becton Dickinson and Co
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 94 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 133.1 Million |
| Forecasted Market Value by 2030 | 203.52 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 4 |
