The global smart syringes market is driven by the rising count of needle stick injuries, shift from conventional syringes to smart syringes, growing awareness in the emerging economies, and widespread adoption of safety syringes across all applications, especially in drug delivery. In addition, growing mandatory regulations laid by WHO about the use of smart syringes is further expected to boost the market growth. However, high cost associated with smart syringes and alternative drug delivery methods are likely to hamper the market growth.
Smart Syringes Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7.6 billion by 2020, registering a CAGR of 9.6% during the forecast period 2015 – 2020. Active safety syringes segment accounted for two-third of the market revenue in 2015, and would remain dominant throughout the analysis period.
Smart syringes are designed with features to protect the person being injected from needle stick injuries, blood-borne diseases such as hepatitis C virus (HCV), hepatitis B virus (HBV), human immunodeficiency virus (HIV) and resulting deadly infections. They cater to a wide range of applications that include vaccination, drug delivery, and blood specimen collection. Different types of smart syringes including auto disable (AD) syringes, passive safety syringes and active safety syringes are used depending on the nature of application. Active safety syringes are the most common type of smart syringes used across all healthcare sectors, whereas, auto disable (AD) syringes are the most popular syringes used for vaccination purposes.
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The industry is driven by increasing count of needle stick injuries, high prevalence of blood-borne transmission such as Hepatitis B, C, HIV through improper injection practices, growing adoption of safety syringes and technological advancements. Besides this, the re-use prevention feature of these syringes have kept the future of the market bright.In addition, mandatory recommendation by WHO to switch to smart syringes ensuring safe injection practices is the major factor boosting the growth. However, the high cost associated with smart syringes especially passive safety syringes, low awareness in developing economies and alternative drug delivery methods are likely to impede the growth. The world smart syringes market volume is projected to reach 15.8 billion units by 2020 and is projected to grow at a CAGR of 8.2 during the forecast period.
The world smart syringes market is segmented based on types, applications, end users and geography. The type segment is further categorized into auto disable (AD) syringes, active safety syringes and passive safety syringes. Active safety syringes accounts for the highest revenue in 2015, owing to established market position. Furthermore, auto disable (AD) syringes are especially used for vaccination purposes and are designed specifically for single use, embedded with an internal mechanism that blocks the barrel once used, thereby preventing its further usage.
Competitive Intelligence on prominent manufacturers of smart syringes provide key insights in terms of strategies implemented to gain significant share in the smart syringes market. Becton, Dickinson & Company are the leading player that provides a wide range of smart syringes across all healthcare sectors worldwide. Few of the smart syringes provided by these company include BD Eclipse and BD SafetyGlide syringes (uses active system), BD AutoShield Duo Pen Needle (passive mechanism), and BD Soloshot IX Auto-Disable 0.5 mL syringe among others.
The key companies operating in the world smart syringes sector include Becton, Dickinson and Company, Medtronic (Covidien), Terumo Medical Corporation, B. Braun Melsungen AG, Baxter International, Smiths Group plc, Unilife Corporation, Revolutions Medical Corporation and Retractable Technologies, Inc., among others.