Worldwide Smart Syringe Market Size to Witness A Boom of 8.7% CAGR Through 2027

 Global Smart Syringe Market Size is valued approximately at USD 6.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.7% over the forecast period 2020-2027.

Smart syringes are medical devices which are designed to be reused with safety mechanisms and which also regulate unsafe injection practices. They smart syringes avoid needlestick injuries and prevent transmission of blood-borne diseases such as hepatitis B virus (HBV), hepatitis C virus (HCV), and human immunodeficiency virus (HIV).

For instance: on 08th July 2020, Becton, Dickinson, and Company agreed into a public-private partnership with Government Biomedical Advanced Research and Development Authority (BARDA) to develop new manufacturing lines of injection that delivers more than 100 million of syringes and needles.

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Smart Syringes used in drug delivery, vaccination, and blood specimen collection. The rising technological advancements, surge in incidences of needlestick injuries and growth in awareness of smart syringes are the few factors responsible for growth of the market over the forecast period.

For instance: according to The World Health Organization (WHO), each year 2 million injuries have been recorded from needle-sticks and other sharp objects occur to over 35 million health care workers in the world. Furthermore, the introduction of products and other strategic alliance by market key players will create a lucrative demand for this market. 

However, high cost and unaffordability of safety syringes and alternative modes of drug delivery is the major factor restraining the growth of global Smart Syringe market during the forecast period.

Global Smart Syringe Market Competitive Landscape Analysis (Revenue, USD billion, 2020-2027)

  • Braun Melsungen Ag
  • Becton, Dickinson, And Company
  • Cardinal Health, Inc.
  • Gerresheimer Ag
  • Merit Medical Systems, Inc.
  • Nipro Corporation
  • Retractable Technologies, Inc.
  • Revolutions Medical Corporation
  • Smiths Group Plc.
  • Terumo Corporation

The regional analysis of global Smart Syringe market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the large adoption of safety syringes, owing to rise in awareness associated with needle stick injuries, coupled with continual improvements in healthcare practices in healthcare centers across the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. 

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.

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Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:           

By Product:

  • Auto Disable Syringes
  • Active Safety Syringes
  • Passive Safety Syringes

By Application:

  • Drug Delivery
  • Vaccination
  • Blood Specimen Collection

By Age Group:

  • Paediatrics
  • Adults

By End User:

  • Hospitals & HMOs
  • Diabetic patients
  • Family practices (Physicians)
  • Psychiatrics
  • Others

Global Smart Syringe Market Regional Analysis (Revenue, USD billion, 2020-2027)

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico

Rest of the World

Related Report:

Hand Sanitizer Market Size By Type, By Composition, By Distribution Channel, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

The global hand sanitizer market is expected to witness tremendous revenue growth over the forthcoming years owing to the momentous rise in product demand due to the rising spread of the coronavirus. As enterprises, governments, and non-profit organizations team up to control the impact of the coronavirus, the hand sanitizer market is expanding at a significant rate.

Attributing to the rapidly growing product demand, several brewers have entered the domain by turning their respective alcohol reserves into different hygiene products. For instance, leading global alcoholic beverage producer, AB InBev, is leveraging the key ingredient it uses in its beverages to fight against the COVID-19 spread.

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