Smart Syringe Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Smart Syringe Market

Market Overview

Needle stick injuries leads to the exposure of HIV/AIDS, hepatitis B virus (HBV), hepatitis C virus (HCV), and many other blood borne diseases as more than 20 blood borne pathogens that can be transmitted by needle stick injuries. In US, over 320,000 needle injuries occur every year. After the introduction of catheters in 1990’s, these needleless connectors were associated with increasing rate of catheter-related bloodstream infections giving rise to the demand of safety syringes.

According to the estimation of WHO, 40% of 16 billion administered injections involve reused and unsterilized syringes worldwide. The reuse of syringes/needles is responsible for 32% new HBV infections, 40% new HCV infections and 5% new HIV infections, worldwide.

RTI's automated retraction technology found in VanishPoint and EasyPoint devices effectively reduces the risk of a contaminated sharps injury and reuse. Automated in-vein retraction blood collection devices effectively reduce the risk of needlestick injuries, blood exposure, and inadvertent activation during blood collection. In addition, the BD Intevia autoinjector is a two-step, push-on-skin 1-mL autoinjector designed to deliver a broad range of viscosities for chronic disease therapy.

Market Segmentation

Smart Syringe Market By Syringe Type

• Auto Disable
• Active Safety
• Passive Safety

Smart Syringe Market By Application

• Drug Delivery
• Blood Collection
• Vaccination

Smart Syringe Market By End Users

• Hospitals and HMO’s
• Home Care Settings
• Clinics and Diagnostics Lab
• Others (Psychiatrics)

Smart Syringe Market By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Market Size Outlook (2016-2024)

Smart syringes market is anticipated to garner USD 10.25 billion by 2024, registering a CAGR of around 10% over the forecast period. Global syringes market is expected to reach USD 20 billion by 2030 at a CAGR of 7.5% over the forecast period. Active safety syringes dominate the global smart syringe market by acquiring 67% of market share among other smart syringe types. Active safety syringe market is likely to attain the revenue of USD 6.8 billion by 2024 at a notable CAGR. Furthermore, Auto disable smart syringes segment is anticipated to exhibit the highest CAGR of 11.5% over the forecast period.

Drug delivery is the the largest among application segment by owing almost 51% of total smart syringe market share due to high demand of smart syringes for diabetic treatment  and rest 49% is acquired by blood collection and vaccination. Geographically, North America is projected to remain the leader of smart syringe market, accounting for 30% of overall market share. North America tends to account for USD 3.01 billion revenue by 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period.

Growth Drivers & Challenges

Increase in needle puncture injuries, paradigm shift from traditional syringes to smart syringes, increasing cases of cross infections such as HIV, hepatitis B & C, etc rising adoption of safety syringes across the world and growing awareness in emerging economies tends to drive the global smart syringe market. Imposing regulations by WHO and UNICEF on mandatory use of smart syringes for safe fluid extraction or deliverance from the body or to the body is anticipated to boost the smart syringe market.

However, high cost of smart syringes and introduction alternative methods that can replace smart syringe tends to hinder the smart syringe market.

Key Market Players

• Becton, Dickinson and Company

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

• Medtronic (Covidien)
• Terumo Medical Corporation
• B Braun
• Baxter International
• Smiths Group plc
• Retractable Technologies, Inc.
• Revolutions Medical Corporation
• Unilife Corporation

Scope Background

Market Synopsis

Market Segmentation

The Global Smart Syringes Market is segmented as follows:

• By Syringe Type (Market Size, Demand Analysis and Growth Analysis)

• By Application (Market Size, Demand Analysis and Growth Analysis)
• By End-User (Market Size, Demand Analysis and Growth Analysis)

By Regions

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks