Global Smart Syringes Market – Industry Trends and Forecast to 2029

Global Smart Syringes Market, By Product (Auto Disable Syringes, Active Safety Syringes and Passive Safety Syringes), Application (Drug Delivery, Vaccination, and Blood Specimen Collection), Age Group (Pediatrics and Adults), and End User (Hospitals and HMOs, Diabetic Patients, Family Practices, Psychiatrics, and Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

Smart syringes have features including a built-in inactivation mechanism that protects a person from needle stick injuries, blood-borne infections like hepatitis B and C, and the human immunodeficiency virus (HIV). Vaccination, medicine delivery, and blood collection are just a few of the applications they can handle. Depending on the application, many types of smart syringes are utilized, such as auto-disable (AD) syringes, passive safety syringes, and active safety syringes.

Data Bridge Market Research analyses that the smart syringes market which was USD 8510.58 million in 2021, would rocket up to USD 20041.05 million by 2029, and is expected to undergo a CAGR of 11.30% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Smart syringes are medical equipment with built-in safety features that prevent syringe reuse and regulate dangerous injection techniques. They have features that reduce needlestick injuries and the transmission of blood-borne infections like hepatitis C virus (HCV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV) in those who use them (HIV).

Smart Syringes Market Dynamics

Drivers

• Increasing prevalence of numerous target diseases

The prevalence of such diseases has increased, vaccination programmes against the target disease have increased dramatically in various regions of the world. Moreover, the need to reduce hospital-acquired infections will drive demand for smart syringes throughout the projection period. Smart syringes are in high demand because to the ever-increasing elderly population around the world.

• Rise in need for safety syringes in emerging economies

The emerging countries of Asia-Pacific and Latin America are promising markets for smart syringes. The use of traditional syringes has been slowed due to an increase in needle stick injuries and a rise in HIV and hepatitis transmission rates. Furthermore, due to the growing demand for safer injection procedures, the adoption rate of smart syringes is rapidly increasing.

• Increase in prevalence of chronic disease

The rise in needle stick injuries has had a significant impact on the market for smart syringes. Because needlestick injuries are the major cause of blood-borne infections among healthcare personnel, the impact of this factor is expected to grow during the projected period. Human Immunodeficiency Virus (HIV), hepatitis B, and hepatitis C can all be transmitted through these injuries. Other infections that can be transmitted through needle stick injuries include blastomycosis, brucellosis, cryptococcosis, diphtheria, cutaneous gonorrhoea, herpes, malaria, mycobacteriosis, sporotrichosis, syphilis, and tuberculosis. In 2019, SERMO (a major medical solutions firm) conducted a survey in the United Kingdom on needle stick injuries.

Opportunities

The market is growing due to an increase in the number of needle stick injuries, a high frequency of blood-borne transmission of diseases such hepatitis B, C, and HIV from inappropriate injection practises, a rise in the use of safety syringes, and technological improvements. Furthermore, the WHO's mandated recommendations to convert to smart syringes, assuring safe injection procedures, is a major element driving market growth.

Restraints/Challenges

• High cost and unaffordability of safety syringes

Smart syringes are more expensive than regular syringes, which makes them difficult to implement globally. Some variants are comparable in price to single-use syringes. Others, on the other hand, can cost up to five times as much as others, depending on the technical sophistication of the safety systems, making them prohibitively expensive in some low- and middle-income nations.

Furthermore, the significant capital investment necessary to produce and maintain a few safety syringes, as well as cost changes based on technologically upgraded syringes, hinder market expansion. The impact of this aspect is predicted to decrease during the analysis period due to continual technical developments and a rise in the number of smart syringes firms.

This smart syringes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart syringes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 impact on Smart Syringes Market

Due to pre-planned COVID-19 immunisation initiatives around the world, the volume of smart syringes to be used in the next years is predicted to skyrocket. Within the first days of the pandemic, the COVID-19 infection demonstrated its ability to cause medical equipment shortages, such as gowns, face masks, and personal protective equipment (PPE). As a result, governments and organisations have already begun syringe manufacturing and production to address such supply chain challenges, as syringes are a critical component of vaccination distribution. This global demand for new coronavirus vaccination is well prepared to drive smart syringe production throughout the pandemic phase.

Global Smart Syringes Market Scope

The smart syringes market is segmented on the basis of product, application, age group and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

PRODUCT

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

APPLICATION

• Drug delivery
• Vaccination
• Blood specimen collection

AGE GROUP

• Pediatrics
• Adults

END-USER

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

Smart Syringes Market Regional Analysis/Insights

The smart syringes market is analysed and market size insights and trends are provided by country, product, application, age group and end-user as referenced above.

The countries covered in the smart syringes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominating the global smart syringe market due to the growing awareness regarding the various issues associated with traditional needles like needlestick injury cases.

Asia-Pacific is expected to witness huge growth during the forecast period due to the fast proliferation of the medical and healthcare sector in the region. Furthermore, government authorities' growing investments in order to develop the region's healthcare infrastructure will accelerate the regional market's growth during the forecast period of 2022 to 2029.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Smart Syringes Market Share Analysis

The smart syringes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart syringes market.

Some of the major players operating in the smart syringes market are:

• Baxter (U.S)
• Terumo Corporation (Japan)
• B. Braun Melsungen Ag (Germany)
• Cardinal Health (U.S)
• BD (U.S)
• Parker Hannifin Corp (U.S)
• Gerresheimer AG (Germany)
• Numedico Technologies Pty Ltd (Australia)
• AdvaCare Pharma (U.S)
• Retractable Technologies, Inc. (U.S)
• MERIT MEDICAL SYSTEMS (U.S)
• NIPRO (Japan)
• REVOLUTIONS MEDICAL CORPORATION (U.S)
• SMITHS GROUP PLC. (U.K)
• Thomas Scientific (U.S)
• McKesson Medical-Surgical Inc. (U.S)