The global Safety Box For Syringe Market size is set to be valued at USD 5.3 Billion in 2022. Increasing awareness among healthcare professionals regarding the proper disposal of used needles to prevent infections is likely to propel the market. As per the study, the global market is expected to reach USD 9.1 Billion in 2032 and exhibit growth at a considerable CAGR of 7.5% in future years.
| Report Attribute | Details |
|---|---|
| Safety Box for Syringe Market Estimated Base Year Value (2021) | USD 4.8 Billion |
| Safety Box for Syringe Market Expected Market Value (2022) | USD 5.3 Billion |
| Safety Box for Syringe Market Anticipated Forecast Value (2032) | USD 9.1 Billion |
| Safety Box for Syringe Market Projected Growth Rate (2022 to 2032) | 7.5% CAGR |
Safety boxes for syringes or sharps safety boxes are usually made of cardboard or similar other materials. These are one-piece, flat-packed boxes with handles and apertures.
These are extensively used in healthcare institutions for keeping contaminated sharps at the point of use, during transport and handling, and during temporary storage to the point of treatment and final disposal.
These boxes accept no less than 20 units of 0.5ml Auto Disable (AD) syringes per liter. The total storage capacity is no less than 100 units/ 5L box. Syringes do not protrude from these boxes as they can be permanently and correctly closed without any risk of needle-stick injury.
Handles are positioned above the fill line on these boxes. These can be easily carried with one hand to the disposal site during transportation as the handles do not obstruct the access to sharps aperture.
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The ongoing expansion of the healthcare sector across the globe is anticipated to propel the safety box for the syringe market growth in the near future. Regulatory bodies, such as the WHO and the USA FDA have implemented stringent norms to govern the disposal of used syringes to eliminate injuries and infections.
The emergence of various new types of boxes worldwide is expected to augur well for the market. Key players nowadays are making lockable lids on their safety boxes to prevent access to the box after one usage. They are also printing hazard warnings and instructions on these boxes to surge their usability.
Lack of knowledge about the safe disposal of needles and syringes, especially in emerging economies, is projected to hamper the demand for safety boxes for syringes in the near future. In addition to that, the unavailability of developed healthcare infrastructures in these countries is another vital factor that is anticipated to hinder growth.
Sales of safety boxes for syringes in North America are anticipated to surge at a fast pace in the upcoming years. This growth is attributable to the increasing implementation of strict norms by government bodies in the USA and Canada to manage hazardous medical waste.
Besides, the rising focus of reputed manufacturers on mergers and acquisitions with private, as well as public companies is likely to bode well for the regional market. The increasing awareness regarding waste management and the surging expansion of distribution lines across North America are also estimated to drive the market.
Asia Pacific is likely to remain in the second position by generating a significant safety box for the syringe market share in the evaluation period. Increasing investments by major players based in India and China in the development of high-quality boxes are set to propel the regional market.
Several manufacturers based in South Korea and Japan are striving to keep up with the regulatory guidelines governing the proper disposal of medical waste. They are thus aiming to deliver novel solutions to withstand competition and generate more shares in Asia Pacific.
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Some of the renowned companies present in the global safety box for the syringe market include Becton, Dickinson & Company, Smurfit Kappa, Hail media products Private Ltd., HMD, Narang Medical Ltd., and JMI Syringes among others.
The majority of the leading companies are increasingly focusing on innovating their in-house products by conducting exhaustive research and development activities. Meanwhile, a few other key players are aiming to engage in collaborations, contracts, joint ventures, and acquisitions to gain a competitive edge in the global market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Capacity, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
| Key Companies Profiled | Becton, Dickinson & Company; Smurfit Kappa; Hail mediproducts Private Ltd.; HMD; Narang Medical Ltd.; JMI Syringes |
| Customization | Available Upon Request |
The global safety box for syringe market is anticipated to surpass USD 9.1 Billion in 2032.
North America is set to lead the safety box for syringe market in the forecast period.
Becton, Dickinson & Company, Smurfit Kappa, Hail Mediproducts Private Ltd., HMD, Narang Medical Ltd., and JMI Syringes are some of the renowned companies in the safety box for syringe market.
| Expected Market Value in 2023 | USD 950.4 million |
|---|---|
| Projected Market Value in 2033 | USD 1,900 million |
| CAGR (2023 to 2033) | 7.1% |
| Expected Market Value (2022) | USD 2,419.1 Million |
|---|---|
| Market Anticipated Forecast Value (2032) | USD 3,650.2 Million |
| Market Projected Growth Rate (2022 to 2032) | 4.2% CAGR |
| Estimated Size, 2021 | USD 1.3 billion |
|---|---|
| Projected Size, 2031 | USD 2.4 billion |
| Value-based CAGR (2021 to 2031) | 6.5% |
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Safety Box for Syringe Market
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