USD 7.84 billion
Smart Syringes Market Size, Share, Growth Analysis, By Product(Auto-disable syringes, Active safety syringes, Passive safety syringes), By Application(Drug delivery, Vaccination, Blood specimen collection), By Age Group(Pediatrics and Adults), By End User(Hospitals and HMOs, Diabetic Patients, Family Practices, Psychiatrics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2214 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
117
|Figures:
77
Smart Syringes Market Insights
Smart Syringes Market size was valued at USD 8.45 billion in 2022 and is poised to grow from USD 9.11 billion in 2023 to USD 16.61 billion by 2031, growing at a CAGR of 7.80% in the forecast period (2024-2031).
Syringes are medical devices used to inject fluid or withdraw fluid from the body. A medical syringe consists of a needle attached to a hollow cylinder fitted with a sliding piston. The World Health Organization observes unsafe syringe use around the world, leading to widespread infection among health workers and patients. Unsafe syringe use can cause abscesses, septicaemia, and nerve damage, and also in severe cases, haemorrhagic fevers and malaria are transmitted. Smart syringes are equipped with features that prevent needle stick injuries to the person using these syringes and prevent the transmission of blood-borne diseases such as hepatitis C virus, hepatitis B virus, and human immunodeficiency virus. They target numerous applications that include vaccination, drug delivery, and blood sampling.
Smart syringes perfectly address the need for safe injection practices by eliminating the reuse of syringes. So, the growing demand for minimally invasive procedures among the population is driving the demand for smart syringes. Smart syringes prevent needle stick injuries associated with traditional injections. Recommendations from the World Health Organization to adopt the use of smart syringes to prevent needle stick injuries and promote good injection practices worldwide are driving the growth of the global syringes market. The rising prevalence of blood-borne diseases due to unsafe injection practices has significantly boosted the growth of the global smart syringes market. The increasing incidence of chronic diseases and viral infections among the general population is one of the major reasons driving the global demand for smart syringes. It may also be due to an aging population that is more susceptible to serious medical problems. Additionally, increased demand for self-injecting drugs is driving market expansion.
Smart syringes are more expensive than conventional syringes, making global adoption difficult. Some are less expensive than single-use syringes. Others, depending on the technological advancement of the security systems, can cost up to five times more than others, making them expensive in some low- and middle-income nations, hampering the market growth.
US Smart Syringes Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Auto-disable syringes
Fastest Growth
Auto-disable syringes
Growth Rate
7.8% CAGR
Global Smart Syringes Market ($ Bn)
Country Share for North America Region (%)
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Smart Syringes Market Segmental Analysis
Global smart syringes market is segmented on the basis of product, application, age group, end user, and region. On the basis of product, global smart syringes market is segmented into auto-disable syringes, active safety syringes, and passive safety syringes. On the basis of application, global smart syringes market is segmented into drug delivery, vaccination, and blood specimen collection. By age group, the Smart Syringes Market is segmented into Pediatrics and Adults. By End User, the Smart Syringes Market is segmented into Hospitals and HMOs, Diabetic Patients, Family Practices, Psychiatrics, and Others. On the basis of region, global smart syringes market is divided into North America, Europe, Asia Pacific and MEA.
Smart Syringes Market Analysis by Product
On the basis of product, global smart syringes market is segmented into auto-disable syringes, active safety syringes, and passive safety syringes. Auto-disable syringes segment has about 64% market share and is expected to grow at a significant CAGR during the forecast period. Auto-disable syringes are the most popular type of smart syringe in hospitals and healthcare institutions, as they are single-use syringes that cannot be reused. Widespread use of self-sterilizing syringes in daily drug delivery to patients. The safety mechanism of this syringe prevents the spread of blood-borne infections, thus meeting the most important need for a smart syringe.
The passive safety syringe segment is expected to be the most competitive. The growth of this segment is expected to be driven by greater safety, the self-activation of safety features, and the convenience associated with the use of passive safety syringes. Growing awareness about the benefits of passive safety syringes among the diabetic community is expected to drive global demand.
Smart Syringes Market Analysis by Application
On the basis of application, global smart syringes market is segmented into drug delivery, vaccination, and blood specimen collection. The global smart syringe market is dominated by the drug delivery segment. The growing use of smart syringes as drug delivery devices in hospitals and clinics has increased the demand for smart syringes. The increasing number of various chronic diseases is increasing the use of smart syringes as a better tool for drug administration and higher drug absorption through injection, which is driving the growth of this segment.
The vaccination segment is expected to be the fastest-growing segment during the forecast period. The increasing global burden of infectious diseases coupled with continuous research and development operations of vaccine manufacturing companies is expected to drive the growth of this segment.
Global Smart Syringes Market By Type
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Smart Syringes Market Regional Insights
On the basis of region, global smart syringes market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America leads the global smart syringe market and accounts for more than 40% of the market revenue owing to growing need for modern healthcare technology. Also, greater awareness of blood-borne infections as a result of unsafe injection practices has increased the demand for smart syringes in North America. Also, the rising incidence of chronic diseases and the presence of a large number of elderly individuals in the region, along with rising healthcare costs, are driving the demand for smart syringes across North America.
Asia Pacific is expected to be the most competitive market. Increasing government and corporate investment in smart healthcare infrastructure, as well as increased focus on providing better patient care, is driving the Asia Pacific smart syringe market. Also, rising consumer disposable income, rising healthcare costs, and growing awareness about needle stick injuries are projected to fuel the growth of the smart syringe market.
Global Smart Syringes Market By Region
- Largest
- Fastest
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Smart Syringes Market Dynamics
Smart Syringes Market Driver
- Increasing incidence of various target diseases
As the prevalence of targeted diseases has increased, vaccination programs against targeted diseases have increased in various regions of the world. Also, the need to reduce hospital-acquired infections will drive the demand for smart syringes during the projection period. Smart syringes are in high demand due to the growing elderly population worldwide.
- Increasing demand for safety syringes in emerging economies
Asia-Pacific and Latin American market growth are attractive for smart syringes. Due to the increase in needle stick injuries and the spread of HIV and hepatitis, the use of traditional syringes has stopped. Also, the adoption of smart syringes is rapidly increasing due to the growing desire for safer injection procedures.
- Increase in the prevalence of chronic disease
The increase in needle stick injuries has significantly impacted the smart syringe market. Because needle stick injuries are the leading cause of blood-borne infections among healthcare workers, the impact of this factor is expected to increase during the forecast period. These injuries can spread human immunodeficiency virus (HIV), hepatitis B, and hepatitis C. Other diseases can be blast mycosis, brucellosis, cryptococcosis, diphtheria, cutaneous gonorrhoea, herpes, malaria, mycobacteriosis, sporotrichosis, syphilis, and tuberculosis, are transmitted through needle stick injuries.
Smart Syringes Market Restraint
- High-cost and unaffordable safety syringes
Smart syringes are more expensive than standard syringes, making their worldwide implementation challenging. Some versions cost the same as single-use syringes. Others can cost up to five times more than others, depending on the technological advancement of the security systems, making them unaffordable in some low-and middle-income countries. Also, the high capital expenditure required to develop and maintain some safety syringes, as well as price fluctuations due to technologically improved syringes, hamper the market growth.
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Smart Syringes Market Competitive Landscape
Global smart syringes market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global smart syringes market. For example, on 29 December 2020, Hindustan Syringes and Medical Devices (HMD), a medical disposables manufacturer, announced that it has increased production of Kojak auto-disable (AD) syringes, to meet the demand for the COVID vaccine. The company plans to increase production from 700 million Kojak Auto Disable (AD) syringes annually to one billion by June 2021.
Smart Syringes Market Top Player's Company Profiles
- Becton, Dickinson and Company
- Gerresheimer AG
- Cardinal Health, Inc.
- Terumo Corporation
- Retractable Technologies, Inc.
- Unilife Corporation
- AdvaCare Pharma
- Parker Hannifin Corporation
- Sol-Millennium Medical Group Co. Ltd.
- Smiths Group plc
- GPC Medical Ltd.
- Sterimed Group
- Nipro Corporation
- Braun Melsungen AG
- UltiMed, Inc.
- West Pharmaceutical Services, Inc.
- Gerresheimer AG
- OMNICELL, Inc.
- QIAGEN N.V.
- Integran Technologies, Inc.
Smart Syringes Market Recent Developments
- In July 2022, The company finished buying a sizable factory in Hungary that will make safety syringes with little waste. The smart safety syringes from Sharps Technology are made to prevent accidental needlestick injuries, stop needle reuse, and significantly reduce vaccine and medicine waste while maintaining the traditional syringe's user-friendly simplicity.
- In July 2020, Sharps Technology introduced a smart syringe called Sharps Provensa to administer Covid-19 vaccines in the US during the Covid-19 pandemic.
Smart Syringes Key Market Trends
- Smart syringes are generally used in vaccination, drug administration, and blood sampling, among which drug administration is the most common application area of these syringes. Demand for Auto-disabled (AD) syringes from hospitals and HMOs has been at its highest for the past few years. These syringes find maximum use in the routine administration of drugs and fluids, due to which the demand for them is likely to remain high for the next few years. The use of the passive safety syringe segment is a key trend and is also expected to gain significant momentum in the coming years.
- Growing concern about needle stick injuries and increased awareness about safe injection techniques are providing significant growth opportunities to industry leaders. Also, the increasing number of childbirths and rising incidence of various paediatric disorders among teenagers are driving the market potential. Product manufacturers are providing small-sized, convenient, lightweight solutions with touch screens and Wi-Fi connectivity. Additionally, increased investment in healthcare infrastructure and expansion of medical services, as well as intensive research and development (R&D) are key trends driving the market growth.
Smart Syringes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our global smart syringes market analysis, by product segment, auto-disable syringes segment has about 64% market share and is expected to grow at a significant CAGR during the forecast period. The global smart syringe market is dominated by the drug delivery segment. The growing use of smart syringes as drug delivery devices in hospitals and clinics has increased the demand for smart syringes. By region, North America leads the smart syringe market and accounts for more than 40% of the market revenue. The region is known for its growing need for modern healthcare technology. Asia Pacific is expected to be the most competitive market. Increasing government and corporate investment in smart healthcare infrastructure, as well as increased focus on providing better patient care, is driving the Asia Pacific smart syringe market. However, the high capital expenditure required to develop and maintain some safety syringes, as well as price fluctuations due to technologically improved syringes, hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.45 billion |
| Market size value in 2031 | USD 16.61 billion |
| Growth Rate | 7.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Syringes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Syringes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Syringes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Syringes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Syringes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Syringes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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