Global Smart Syringe Market Report and Forecast 2024-2032

Global Smart Syringe Market Outlook

The global smart syringe market attained a value of USD 10157.16 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 9.7% to reach USD 23321.73 million by 2032.

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North America to Dominate the Global Smart Syringe Industry

North America accounted for a significant market share of the smart syringe industry. This can be attributed to the widespread use of safety syringes in this region because of increased awareness about needle stick injuries. Also, due to continuous advancements in healthcare procedures at healthcare centres across the region, the market is expected to witness a further growth in the coming years. Meanwhile, due to the rising private and public medical expenses, improving healthcare facilities, and increased responsiveness to the danger of hazardous syringe use, the Asia Pacific is expected to witness a significant growth in the forecast period.

Increasing Pediatric Population to Augment the Smart Syringe Industry Growth

Pediatrics is the most lucrative segment owing to an annual growth in the number of pediatric patients, as this age demographic is more susceptible to infectious diseases. Furthermore, because children are more sensitive to infections and are at higher risk, the COVID-19 pandemic is expected to increase the demand for smart syringes. Meanwhile, the increasing government attempts to immunise high-risk groups at an early age are likely to promote adult segment growth in the future.

Smart Syringe: Market Segmentation

Smart syringes are medical equipment with built-in safety features that prevent syringe reuse and regulate dangerous injection habits. They have properties that help prevent the spread of blood-borne illnesses. Vaccination, medicine distribution, and blood specimen collection are all done with these. It has its own chip that contains current settings, ranges, and usage tracking.

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By product, the industry is segmented into:

• Auto Disable Syringes 
• Active Safety Syringes
• Passive Safety Syringes

The market can be broadly categorised on the basis of its application into:

• Drug Delivery
• Vaccination
• Blood Specimen Collection

By age group, the industry is segmented into:

• Pediatrics
• Adults

On the basis of end users, the industry is segmented into:

• Hospitals and HMOs 
• Diabetic Patients
• General Practitioners
• Others

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Cases of Needle Stick Injuries to Bolster the Growth of the Global Smart Syringe Industry

The market is growing due to an increase in the number of needle stick injuries among people of all ages. The industry is additionally boosted by the high prevalence of blood-borne diseases such as hepatitis B, C, and HIV transmitted through inappropriate injection techniques. Furthermore, the market expansion is fuelled by an increase in the use of safety syringes and technological developments. In addition, government mandates to support the transition towards smart syringes, assuring safe injection practices, are crucial in driving the market growth. During this pandemic phase, the requirement for worldwide immunisation programmes to prevent the spread of the coronavirus pandemic is expected to accelerate the demand for smart syringe, which, in turn, is expected to drive the market during the forecast period. Furthermore, the expanding geriatric population and the necessity to reduce hospital-acquired infections are expected to drive the smart syringe industry in the coming future.

Key Industry Players in the Global Smart Syringe Market

The report presents a detailed analysis of the following key players in the global smart syringe market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• B. Braun Melsungen AG
• Terumo Corporation
• Smiths Group plc
• Becton, Dickinson and Company
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report