Global Smart Syringes Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

“Global Smart Syringes Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global smart syringes market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global smart syringes market report has been segmented on the basis of product type, application, end user, and region.

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Introduction:

According to World Health Organization (WHO), smart syringes are designed to protect the person administering the injection and to prevent the syringe from being used more than once. Smart syringes are the medical devices that are engineered with safety mechanisms to prevent the reuse of syringes and regulate unsafe injection practices. Smart syringes are used for injecting vaccination, drug delivery, and blood specimen collection applications.

Market Dynamics:

Key factors expected to drive growth of the global smart syringes market is increasing increase in the incidence of needlestick injuries. According to The World Health Organization (WHO) each year, about two Mn injuries from needle-sticks and other sharp objects occur to over 35 Mn health care workers in the world. In addition, rising prevalence of blood-borne transmission diseases such as Hepatitis B, C, and HIV, increasing healthcare expenditure, rising elderly population, increasing demand for minimal invasive treatment procedure, increasing incidence of life threating disease such as diabetes, are among some other factors expected to drive growth of the global smart syringes market. However, string regulatory rule may hamper the growth of the global smart syringes market to a certain extent. In addition, high cost as compared to conventional syringe, is expected to restraint the growth revenue of the target market.

Trends and Opportunity:

Government and NGO are taking initiatives to promote the awareness regarding safety and precaution of syringes in different developing regions across the globe. In addition, WHO has launched a policy on injection safety and to block the use of unsafe injections. New WHO injection safety guidelines and policy provides detailed recommendations highlighting the value of safety features for syringes, including devices that protect health workers against accidental needle injury and consequent exposure to infection. On the contrary, rise in healthcare infrastructure and high market potential in emerging countries are anticipated to serve as lucrative opportunities for target market expansion in the forecoming years. These are some trends witnessed in the smart syringe market, currently.

Regional Analysis:

The market in North America is expected to dominate the global smart syringes market. This is primarily attributed to increasing incidences chronic diseases such as diabetes, cardiovascular diseases, etc.  in countries in the region. In contrast, the market in Asia Pacific is expected to be an emerging market for the global smart syringes market, and is expected to register highest CAGR in during the forecasted period, owing to increasing demand for minimal invasive medical procedure and increasing healthcare expenditure in the region. Moreover, the markets in Europe, Latin America and Middle East & Africa are expected to register significant higher growth in the global smart syringes over the forecast period.

GLOBAL SMART SYRINGES MARKET SEGMENTATION:

Segmentation by product type:

• Auto-disable syringes
• Active safety syringes
• Passive safety syringes

Segmentation by application

• Drug delivery
• Vaccination
• Blood specimen collection

Segmentation by end user:

• Hospital & clinic
• Diabetic patients
• Family practices (Physicians)
• Psychiatrics
• Others (includes research labs, ambulatory surgical centers, etc.)

 Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Becton, Dickinson and Company
• Cardinal Health, Inc.
• Terumo Medical Corporation
• Braun Melsungen AG
• Baxter International Inc.
• Smiths Group plc
• Unilife Corporation
• Gerresheimer AG
• Retractable Technologies, Inc.
• Tecan Trading AG