Global Smart Syringes Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Smart Syringes Market 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 medical devices 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.
Key factors expected to drive the global smart syringes market growth is an increase in needlestick injuries. According to The World Health Organization (WHO), about two Mn injuries from needle-sticks and other sharp objects occur to over 35 Mn health care workers worldwide each year.
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 minimally invasive treatment procedures, increasing incidence of life-threatening diseases 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.
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
- Blood specimen collection
Segmentation by end-user:
- Hospital & clinic
- Diabetic patients
- Family practices (Physicians)
- Others (includes research labs, ambulatory surgical centers, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 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
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