The latest report from Reports and Data reveals that the global Smart Syringes Market reached a size of USD 1096.19 Million in 2022 and is projected to achieve an 8% revenue Compound Annual Growth Rate (CAGR) during the forecast period.
The increasing awareness among individuals regarding the risks associated with needlestick injuries and their potential to transmit infections such as HIV, hepatitis B, and hepatitis C has led to a surge in demand for smart syringes.
Smart syringes incorporate safety features designed to prevent needlestick injuries and discourage reuse, thereby reducing the risk of infection transmission. These safety measures include retractable needles, needle shields, and needle guards. The growing adoption of smart syringes in healthcare settings is a key driver of market revenue growth. Furthermore, the demand for smart syringes is expected to continue rising in the coming years due to the growing importance of vaccination programs and the need for secure injection procedures.
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Additionally, the increasing emphasis on the development of innovative technologies to enhance the safety and efficiency of smart syringes is another factor propelling market revenue growth. For instance, some manufacturers are designing syringes equipped with electronic sensors capable of detecting the completion of an injection and transmitting this information to medical personnel. These advanced syringes can track the number of injections administered and offer insights into injection patterns, aiding healthcare professionals in monitoring patients’ adherence to treatment regimens.
Key players in the Smart Syringes Market:
- Becton, Dickinson and Company
- Medtronic
- B. Braun Melsungen AG
- Fresenius Kabi AG
- Smiths Medical
- Unilife Corporation
- Terumo Corporation
- Enable Injections
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- Nipro Medical Corporation
Some Key Highlights in the Report:
- The forecasted period is expected to see the auto-disable smart syringes segment taking the lead in generating the majority of revenue. These syringes are designed to automatically deactivate themselves once the prescribed dosage is administered, effectively reducing syringe reuse and the spread of blood-borne infections. The increasing prevalence of infectious diseases such as HIV, Hepatitis B, and C is driving the demand for auto-disable smart syringes. Additionally, the growing awareness of safe injection practices, especially in emerging markets, is contributing to sales growth in this sector.
- On the other hand, the drug delivery segment is positioned to capture the largest revenue share during the projected period. This is primarily due to its ability to deliver precise and accurate dosages, thereby reducing the risk of medication errors and enhancing patient safety. The rising incidence of chronic diseases like cancer, diabetes, and cardiovascular conditions is fueling the demand for smart syringes in drug delivery applications. Moreover, the increasing focus on personalized medicine and the adoption of innovative healthcare technologies are significant factors driving revenue growth in this category.
- The North American market is anticipated to dominate in terms of revenue share throughout the forecast period. This is mainly attributed to the growing recognition of the advantages offered by smart syringes in preventing the transmission of infectious diseases. Additionally, the region benefits from a well-established healthcare infrastructure, which facilitates the adoption of new products and technologies by manufacturers.
- In the Asia Pacific region, a substantial share of revenue is expected during the forecast period, driven by the increasing demand for smart syringes in developing countries such as India and China. The rising prevalence of infectious diseases in this region is a key driver of market revenue growth. Furthermore, efforts to strengthen healthcare infrastructure in the region are likely to boost the demand for smart syringes in this geographical segment.
- In 2020, Becton, Dickinson, and Company announced its acquisition of the medical technology company C. R. Bard. This strategic move was aimed at expanding Becton, Dickinson, and Company’s product portfolio in the medical device market, particularly in the field of smart syringes.
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For the purpose of this report, Reports and Data has segmented the global smart syringes market on the basis of Product Type Outlook, Application Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Million; 2022 – 2032)
- Auto-disable
- Active Safety
- Passive Safety
Application Outlook (Revenue, USD Million; 2022 – 2032)
- Drug Delivery
- Vaccination
- Blood Specimen Collection
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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