Global Smart Syringes Market Size By Product (Auto Disable Syringes, Active Safety Syringes, and Passive Safety Syringes), By Application (Drug Delivery, Vaccination, and Blood Specimen Collection), By Age Group (Pediatrics and Adults), By End User( Hospitals & HMOs And Diabetic Patients), By Geography Scope And Forecast

Smart Syringes Market Size And Forecast

Smart Syringes Market size was valued at USD 8,913.6 Million in 2022 and is projected to reach USD 17,502.0 Million by 2030, growing at a CAGR of 8.8% from 2023 to 2030.

Reusing needles is a major factor in the spread of healthcare-associated infections (HAIs), which are a serious issue. The Global Smart Syringes Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Smart Syringes Market Definition

Smart Syringes are medical injection tools made to stop the transmission of illnesses and blood-borne viruses brought on by reused needles. They include safety features that either disable the syringe after a single use or retract the needle into the syringe barrel after injection. This lowers the risk of needle reuse and prevents unintentional needlestick injuries to healthcare employees.

Additionally, Smart Syringes may have components that shield the needlepoint, lock the needle, or retract the needle automatically to reduce the risk of injury or illness. They are frequently used for injections, the administration of insulin, and other medical operations involving needles. The World Health Organization (WHO) has approved the use of Smart Syringes as a critical intervention for lowering the transmission of blood-borne viruses and infections in healthcare settings.

Global Smart Syringes Market Overview

Reusing needles is a major factor in the spread of healthcare-associated infections (HAIs), which are a serious issue. Smart Syringes avoid reprocessing the needle and can lessen the risk of HAIs. Additionally, injuries from needlesticks are a frequent source of occupational hazards for healthcare workers and can cause severe infections or diseases like hepatitis B, C, and HIV. Healthcare employees can be safeguarded by Smart Syringes with needle-retraction mechanisms by reducing the risk of needlestick injuries.

Furthermore, a lot of governments all over the world have passed laws requiring the use of Smart Syringes in medical contexts. For instance, the Food and Drug Administration (FDA) of the United States has published recommendations urging the use of Smart Syringes to reduce needlestick injuries. But, in low-resource settings, smart syringe adoption may be hindered by their higher cost.

Additionally, many healthcare professionals may not be knowledgeable about the advantages of Smart Syringes or may not have received the appropriate training to use them. However, smart syringe design and manufacturing technological advancements are opening up new market possibilities for innovation and differentiation. For instance, the creation of Smart Syringes with wireless connectivity and data monitoring features can help patients’ outcomes and give healthcare professionals useful information.

Global Smart Syringes Market Segmentation Analysis

The Global Smart Syringes Market is segmented on the basis of Product, Application, Age Group, End User, And Geography.

Smart Syringes Market, By Product

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

Based on Product, The market is divided into Auto Disable Syringes, Active Safety Syringes, and Passive Safety Syringes. Auto-disable syringes are medical injection tools made to stop the reprocessing of needles, lowering the risk of spreading blood-borne pathogens and viruses. Because they are designed to be used only once, they have a feature that disables the syringe after use, making it difficult to reuse the syringe and needle. In low-resource environments where the reuse of needles is prevalent, auto-disable syringes are frequently used for vaccinations and other medical injections. They are also utilized in places like clinics and hospitals where the safety of injections is crucial.

Smart Syringes Market, By Application

• Drug Delivery
• Vaccination
• Blood Specimen Collection

Based on Application, The market is divided into Drug Delivery, Vaccination, and Blood Specimen Collection segments. The ability of Smart Syringes to increase medication adherence, decrease prescription errors, and enhance patient outcomes has led to an increase in their use in drug delivery. It is simpler for healthcare professionals to make sure that the patient is given the right dose of medication thanks to Smart Syringes that can monitor the amount of medication being injected. Under- or excess may be avoided as a result. Additionally, Smart Syringes with automated needle retraction capabilities can lessen the risk of unintentional needlestick injuries and increase patient and healthcare worker safety.

Smart Syringes Market, By Age Group

• Pediatrics
• Adults

Based on Age Group, The market is divided into Pediatrics and Adults. During the anticipated period, the passenger car sector will hold the biggest market share. Pediatricians are increasingly using Smart Syringes because of the possible advantages they present for enhancing drug safety and lowering child medication errors. To ensure that kids are given the right dosage of medicine, Smart Syringes can help lower the possibility of under or overdosing.

Smart Syringes Market, By End User

• Hospitals & HMOs
• Diabetic Patients
• Family Practices
• Psychiatrics
• Others

Based on End User, The market is divided into Hospitals & HMOs, Diabetic Patients, Family Practices, Psychiatrics, and Adults. The use of smart needles in hospitals and health maintenance organizations (HMOs) is rising. Healthcare professionals can monitor patient compliance and make necessary changes thanks to real-time data on drug administration and dosing that Smart Syringes with wireless connectivity can provide. Additionally, many healthcare organizations are switching to Smart Syringes in order to meet regulatory standards intended to increase the safety of medications and lower the chance of infections and other unfavorable events.

Smart Syringes Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Smart Syringes Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Smart syringe adoption in North America is being fueled by the creation of new technologies like wireless connectivity and smart sensors, which make them more effective and efficient. The use of Smart Syringes is one method to enhance medication safety and lower the risk of adverse events. Healthcare workers in North America are also placing more emphasis on patient safety.

Key Players

The “Global Smart Syringes Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Becton, Dickinson and Co. Braun Melsungen AG, Terumo Medical Corporation, Baxter International, Inc., Retractable Technologies, Inc., Smiths Group Plc, Medtronic Plc (Covidien), Unilife Corporation, and Revolutions Medical Corporation.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• February 2022, BD (Becton, Dickinson and Company), a leading worldwide pharmaceutical company, recently announced the release of its new BD IntelliportTM Medication Management System, which features a platform for smart syringe technology.
• The Gx InnoSafeTM smart syringe device was introduced by Gerresheimer, a major provider of glass and plastic products for the pharmaceutical business. This system has a passive safety feature intended to lessen the risk of infection and avoid needlestick injuries. In order to gather and analyse data, it can be integrated with smart devices and has a tamper-evident closure. It is anticipated that the Gx InnoSafeTM system will increase drug safety and lower the possibility of medication errors in healthcare environments.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Smart Syringes Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behaviour of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Smart Syringes Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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