At 4.4% CAGR, the South & Central America Sharps Containers Market is projected to be worth US$ 29.22 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America sharps containers market was valued at US$ 20.75 million in 2022 and is expected to reach US$ 29.22 million by 2030, registering a CAGR of 4.4% from 2022 to 2030. Increase in generation of medical waste and growing use of multipurpose containers are among the critical factors attributed to the South & Central America sharps containers market expansion.        

Multipurpose containers can easily store a variety of sharps as they are relatively larger than other sharps containers. Multipurpose containers are widely used in the market owing to their versatility in various applications, availability in various sizes and shapes, and demand by healthcare providers, research institutes, and hospitals. Multipurpose containers are not space or function-specific; they can be easily used in different environments and are easy to assemble and inexpensive. In addition, they offer maximum safety for medical professionals and are environmentally friendly. These containers can be easily disinfected and reused. Various companies offer multipurpose containers, including Becton Dickinson and Co.

Growing medical waste and the rising need for proper disposal are among the main factors expected to drive the demand for multipurpose containers, as they are the preferred choice of multiple medical institutions. The growing volume of medical waste, multiple surgeries, and the advantages of multipurpose containers over other types are expected to provide growth for the multipurpose containers, thereby boosting the South & Central America sharps containers market.

On the contrary, lack of awareness about proper methods of sharps waste containment & disposal hampers the South & Central America sharps containers market.  

Based on product, the South & Central America sharps containers market is segmented into multipurpose containers, patient room containers, and phlebotomy containers. The multipurpose containers segment held 42.5% share of South & Central America sharps containers market in 2022, amassing US$ 8.81 million. It is projected to garner US$ 12.76 million by 2030 to expand at 4.7% CAGR during 2022–2030. 

Based on usage, the South & Central America sharps containers market is segmented into reusable containers and disposable containers. The reusable containers segment held 63.9% share of South & Central America sharps containers market in 2022, amassing US$ 13.26 million. It is projected to garner US$ 18.20 million by 2030 to expand at 4.0% CAGR during 2022–2030.

Based on waste type, the South & Central America sharps containers market is segmented into infectious waste and non-infectious waste. The infectious waste segment held 71.8% share of South & Central America sharps containers market in 2022, amassing US$ 14.90 million. It is projected to garner US$ 21.27 million by 2030 to expand at 4.5% CAGR during 2022–2030.

Based on waste generators, the South & Central America sharps containers market is segmented into hospitals, pharmaceutical companies, laboratories, clinics & physician’s offices, and others. The hospitals segment held 46.5% share of South & Central America sharps containers market in 2022, amassing US$ 8.72 million. It is projected to garner US$ 12.95 million by 2030 to expand at 5.1% CAGR during 2022–2030.

Based on container size, the South & Central America sharps containers market is segmented into 1-3 gallons, 4-6 gallons, 7-8 gallons, and others. The 1-3 gallons segment held 40.0% share of South & Central America sharps containers market in 2022, amassing US$ 8.29 million. It is projected to garner US$ 12.07 million by 2030 to expand at 4.8% CAGR during 2022–2030.

Based on distribution channel, the South & Central America sharps containers market is segmented into medical supply companies, pharmacies, online sale, and others. The medical supply companies segment held 46.4% share of South & Central America sharps containers market in 2022, amassing US$ 9.63 million. It is projected to garner US$ 13.81 million by 2030 to expand at 4.6% CAGR during 2022–2030.

Based on country, the South & Central America sharps containers market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 57.5% share of South & Central America sharps containers market in 2022. It was assessed at US$ 11.92 million in 2022 and is likely to hit US$ 17.08 million by 2030, exhibiting a CAGR of 4.6% during 2022–2030.

Key players operating in the South & Central America sharps containers market are Stericycle Inc, GPC Medical Ltd, Becton Dickinson and Co, and Mauser Group NV, among others.   

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