The South & Central America sharps containers market is expected to grow from US$ 20.75 million in 2022 to US$ 29.22 million by 2030. It is estimated to grow at a CAGR of 4.4% from 2022 to 2030.
Increasing Government Initiatives for Safe Sharps Disposal Fuels South & Central America 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 South & Central America sharps containers market.
South & Central America Sharps Containers Market Overview
The South & Central America sharps containers market is segmented into Argentina, Brazil, and the Rest of South & Central America. The market is expected to grow owing to the increasing ubiquity of diabetes (both type I and type II). According to the estimates of the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366 million in 2011 to 552 million by 2030, and such rapid growth in prevalence is expected to have a significant impact on the market growth over the forecast period. Additionally, the introduction of regulations in favor of insulin manufacturers in the region has encouraged various multinational companies to enter into establishing production units. Furthermore, the region is expected to experience growth opportunities due to the increasing prevalence of chronic disease in the countries, rising number of surgical procedures, and the growing medical tourism industry for surgeries are expected to boost the South & Central America sharps containers market during the forecast period.
South & Central America Sharps Containers Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Sharps Containers Market Segmentation
The South & Central America sharps containers market is segmented into product, usage, waste type, waste generators, container size, distribution channel, and country.
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 the largest share of the South & Central America sharps containers market in 2022.
Based on usage, the South & Central America sharps containers market is segmented into reusable containers and disposable containers. The reusable containers segment held a larger share of the South & Central America sharps containers market in 2022.
Based on waste type, the South & Central America sharps containers market is segmented into infectious waste and non-infectious waste. The infectious waste held a larger share of the South & Central America sharps containers market in 2022.
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 held the largest share of the South & Central America sharps containers market in 2022.
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 held the largest share of the South & Central America sharps containers market in 2022.
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 held the largest share of the South & Central America sharps containers market in 2022.
Based on country, the South & Central America sharps containers market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America sharps containers market in 2022.
Stericycle Inc, GPC Medical Ltd, Becton Dickinson and Co, and Mauser Group NV are some of the leading companies operating in the South & Central America sharps containers market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 20.75 Million |
| Market Size by 2030 | US$ 29.22 Million |
| CAGR (2022 - 2030) | 4.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South & Central America Sharps Containers Market is valued at US$ 20.75 Million in 2022, it is projected to reach US$ 29.22 Million by 2030.
As per our report South & Central America Sharps Containers Market, the market size is valued at US$ 20.75 Million in 2022, projecting it to reach US$ 29.22 Million by 2030. This translates to a CAGR of approximately 4.4% during the forecast period.
The South & Central America Sharps Containers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Sharps Containers Market report:
The South & Central America Sharps Containers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Sharps Containers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Sharps Containers Market value chain can benefit from the information contained in a comprehensive market report.
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