Sharps Destruction Device Market Trends, Opportunities & Growth Forecast during 2017-2026

Posted on 2019-05-17 by Mark Hub in Healthcare // 0 Comments

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Sharps are considered objects which are in use for a range of medical practices, the waste is classified under the biomedical waste which includes objects used to puncture skin such as sharp plastic, blades, needles, syringes, knife, lancets, scissors, glass, etc. Safe practices are performed in order to the management and disposal of sharps in healthcare settings which are being adopted recently over time in order to put a safe environment for the patients, staff, and visitors from exposure to any blood-borne infection. Numerous initiatives with devices has been taken by the concerned agencies these days such as FDA in order to cut the linked risks. Sharps Destruction Device Market are practical example of such initiatives to cut down the damage observed with foremost objective to manage the material used until its disposal.

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The growing use of sharps observed due to the rising number of surgical cases, increase in number of healthcare facilities and growing healthcare concerns promotes the acceptance of sharps destruction devices. Several types of sharps are used over a course of operation with an estimated seventeen billion injections being ordered annually worldwide, needles being the largest segment for sharps waste to be in use for Sharps destruction devices. Although, according to the Food and Drug Administration (FDA), health risks associated with sharps needle destruction devices can be lessened with special control, making the devices safe and effective. In November 2017, the FDA proposed reclassifying needle destruction devices and renamed as “sharps needle destruction device,” from a Class III device into Class II (special controls).

The global Sharps Destruction Devices Market is apprehended to see impressive growth in the near future due to present successful models and new product innovations. An encouraging sign can be observed in the market with changing consumer trends. The expansion for a better customer support will shape up the market for future prospects in state of development. Rising incidences of sharps injuries, innovative devices aimed at reducing the risk of needlestick injuries, and perceived risk of pathogen transmission from sharps injuries are major factors driving the growth of this Sharps Destruction Device Market. According to the Centers for Disease Control and Prevention (CDC), about 385,000 needlestick injuries occur annually providing a potential charge in the growth of the sharps destruction device market.

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Moreover, increasing concerns of occupational exposure to blood-borne viruses is likely to create opportunities for market growth. However, loss of tangible sensation during the use of certain devices, and technological inadequacies such as slow flashback are likely to pose as a restraint for the growth of the market. Reusable systems owes a large share comparatively than other sharps destruction devices and will have an impact throughout the forecast, dynamics of the market could still be energized with different working factors. As it is a promising market with a limited product listing provides a clear chance for further new involvements.

On the basis of regional presence, global Sharps Destruction Devices Market is segmented into six key regions viz. North America, Latin America, Europe, Asia-Pacific excluding China, Middle East & Africa and China. North America leads the Sharps Destruction Devices Market reasons being new product innovations, manufacturers are targeting developed markets due to high awareness. Additionally, huge healthcare infrastructure spending in these regions also supports the growth of sharp waste disposal market. Latin America region represents low market share but a good growth rate owing to the increasing private sector in healthcare environment. Europe is the second leading market for Sharps Destruction Devices due to development activities, focus on aesthetic appearance and large research base. The Asia Pacific excluding China market is also expected to grow at a higher rate owing to changing lifestyle, rapid population growth, adoption of western lifestyle, and growth in research and development. These factors are likely to drive the market growth of Sharps Destruction Devices Market during the forecast period globally.

Some of the major players in Sharps Destruction Devices Market are Seton, Nolato AB, Stericycle, Becton, Dickinson and Company, Safety First Aid Group Ltd, Kays Medical, SoClean India, Thermofisher Scientific, GPC Medical, Frontier Medical Group, Daniels, etc. Acquisition, mergers, strategic collaborations, and technology plays a vital role in the growth of Sharps Destruction Devices market

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