Global Smart Syringe Market

Global Smart Syringe Market

Global Smart Syringe Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing with a CAGR of YY % during the forecast period 2024-2031.

Smart syringes incorporate additional technologies or features aimed at enhancing safety, accuracy, and traceability in the administration of injections. These syringes are designed to prevent needlestick injuries, ensure proper dosage, and often include features such as automatic needle retraction or electronic monitoring.

Smart syringes often come equipped with safety features such as automatic needle retraction or needle shields. These features help prevent needlestick injuries, reducing the risk of transmitting bloodborne infections among healthcare workers. The incorporation of smart technologies in syringes can contribute to precise dosage delivery. This is particularly important in healthcare settings where accurate dosing is critical to the effectiveness of treatments.

Market Dynamics: Drivers and Restraints

Reduce the prevention of needlestick injuries

Smart syringes often incorporate features such as automatic needle retraction or needlestick prevention mechanisms. This helps prevent accidental needlestick injuries to healthcare workers, reducing the risk of exposure to bloodborne pathogens. Needlestick injuries pose a substantial risk to healthcare workers who administer injections. Smart syringes with features such as automatic needle retraction or needlestick prevention mechanisms significantly reduce the likelihood of accidental needlestick injuries.

The enhanced safety for healthcare workers contributes to a better working environment and reduces the risk of occupational exposure to bloodborne pathogens. Due to rise of needlestick injuries which helps to boost the market growth. For instance, according to the World Health Organization, approximately 3 million occupational exposures to sharp injuries occur among 35 million healthcare providers (HPs) annually.

Needle stick injuries among nurses were associated with three factors: nurses' sense of urgency, variable shift work, and lower skill level related to the years of experience, academic degree, and younger age. Thus above factors helps to boost the market growth.

Market Dynamics: Restraint

High cost associated with the devices

High costs can limit the affordability of smart syringes for healthcare facilities, particularly in resource-constrained environments or developing countries. This may hinder widespread adoption and accessibility of these advanced devices, affecting their potential impact on public health. Many healthcare facilities operate on tight budgets, and the introduction of high-cost smart syringes may strain these financial resources.

In such cases, healthcare providers may opt for traditional syringes that are more cost-effective, especially if they perceive the benefits of smart syringes as not justifying the additional expense. Healthcare systems often resist rapid changes due to various reasons, including financial investments, training requirements, and established practices. The high cost of smart syringes can contribute to resistance from healthcare professionals and institutions to switch from traditional syringes to these more advanced, but costly, alternatives.

Segment Analysis

The global smart syringe market is segmented based on type, application, end-user and region.

The passive safety syringes segment from the type segment accounted for approximately 49.27% of share

The advantages of smart and passive safety syringes are combined in smart passive safety syringes, providing a complete solution to improve safety, accuracy, and data management in the healthcare industry. In order to add extra safety layers, smart passive safety syringes combine passive safety measures like needle retraction or shielding with smart technology.

The combination lowers the possibility of needlestick injuries by ensuring that safety devices are automatically triggered following the injection. In order to prevent unintentional overdose or underdose, these syringes can be equipped with smart technology that limits or controls the dosage that is provided. decreases the possibility of medicine administration errors, improving patient safety.

Smart features enable the collection of data related to medication administration, including dosage, time, and patient information. Connectivity options, such as RFID or NFC, facilitate seamless integration with healthcare information systems, improving data accuracy and accessibility. The adoption of smart passive safety syringes reflects a commitment to technological innovation in healthcare delivery. Positions healthcare facilities at the forefront of patient safety and quality care.

Geographical Analysis

North America accounted for approximately 29.04% of the market share in 2022

The rise of the smart syringes market in North America can be attributed to several factors, including technological advancements, increased awareness of healthcare safety, regulatory initiatives, and the growing emphasis on healthcare innovation. North America has witnessed advancements in smart technologies, sensors, and connectivity, which are incorporated into smart syringes to enhance functionality and safety.

Additionally, the prevalence of chronic diseases in North America has increased the demand for precise and safe medication administration. Vaccination programs, especially during public health emergencies, drive the need for accurate and efficient syringe technologies, contributing to the growth of the smart syringes market.

For instance, the CDC estimates that six in ten adults in the United States currently live with a chronic disease such as cancer, heart disease, or diabetes. Chronic diseases are among the leading causes of death in the United States with heart disease and cancer alone accounting for around 38% of all deaths. Thus, above factors help to boost the region growth.

COVID-19 Impact Analysis

The syringes have been very important considerable instruments in healthcare settings for many years, well before the COVID-19 pandemic. These syringes are especially designed to prevent the needlestick injuries, which occur when healthcare workers accidentally get punctured by needles. These needlestick injuries may lead to the transmission of bloodborne pathogens like HIV, HBV and HCV.

During the COVID-19 pandemic, needle safety systems continued to play a very crucial role in healthcare settings, with additional considerations related to the heightened awareness of infection control. During the COVID-19 pandemic, there was an increase in the number of COVID-19 vaccinations, which further led to needle stick injuries. So, this led to the increased demand for needle safety systems to prevent these injuries.

Market Segmentation

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

By Application
• Vaccination
• Drug delivery
• Blood sample collection
• Others

By End-User
• Hospitals and clinics
• Home care settings
• Ambulatory surgical centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include PAL, Shimadzu, Agilent, Baxter International Inc, Thermo Fisher Scientific Inc, Terumo Europe NV, Smiths Medical, Becton Dickinson and Company, Ypsomed AG, Medtronic Plc among others.

Why Purchase the Report?
• To visualize the global smart syringe market segmentation based on type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of smart syringe market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global smart syringe market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies