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

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.