Smart Syringe Market to register a CAGR of 10.3% | Forecast to 2025 | Latest Study
Smart Syringe Market Overview :
The global smart syringe market was valued at $5,737 million in 2017, and is estimated to garner $13,792 million by 2025, registering a CAGR of 10.3% during the forecast period. Smart syringes are designed with features to offer protection from needle stick injuries, blood-borne diseases such as hepatitis C virus (HCV), hepatitis B virus (HBV), human immunodeficiency virus (HIV), and life-threatening infections. They cater to several applications that include vaccination, drug delivery, and blood specimen collection. Smart syringes are of various types, which include auto disable (AD) syringes, passive safety syringes, and active safety syringes are used depending on the nature of application. Active safety syringes are the most common type of smart syringes used across all healthcare sectors, whereas, auto disable (AD) syringes are the most popular syringes used for vaccination purpose.
The industry is driven by increase in needle stick injuries, high prevalence of blood-borne transmission such as hepatitis B, C, HIV through improper injection practices, growth in adoption of safety syringes, and surge in technological advancements. In addition, the WHO mandate to switch to smart syringes to ensure safe injection practices is a major factor that boosts the growth of the market. However, high cost associated with smart syringes, especially passive safety syringes, low awareness in developing economies, and alternative drug delivery methods are expected to impede the market growth. The global smart syringes market volume is projected to reach 15.8 billion units by 2020 and is anticipated to grow at a CAGR of 8.2 during the forecast period.
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The global smart syringe market is segmented based on product type, application, age group, end user, and region. Based on product type, the market is segmented into auto disable (AD) syringes, active safety syringes, and passive safety syringes. Based on application, the market is classified into drug delivery, vaccination, and blood specimen collection. Based on age group, the market is bifurcated into pediatric and adult. Based on end user, the market is categorized into hospitals and HMOs, diabetic patients, family practices, psychiatrics, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Benefits for Smart Syringe Market :
This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities.
Market estimations are based on a comprehensive analysis of the key developments in the industry.
The global market is comprehensively analyzed with respect to product type, application, age group, end user, and region.
In-depth analysis based on region helps understand the regional market to assist in strategic business planning.
The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Smart Syringe Key Market Segments :
By Product Type
Auto disable syringes
Active safety syringes
Passive safety syringes
Blood specimen collection
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By Age Group
By End User
Hospitals and HMOs
Family practices (Physicians)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY PLAYERS PROFILED
General Vision, Inc.
The other players of the smart syringe market include (companies not profiled in the report):
L.O.M. Medical International
Techcon, Tecan Trading AG
Meissner Filtration Products, Inc.
Parker Hannifin Corporation
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