Smart Syringe Market Forecast to 2025 Key Drivers: Becton, Dickinson and Company, Cardinal Health, Terumo Medical Corporation, B. Braun Melsungen and Others

The global smart syringes market was evaluated 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.

The key players operating in the global smart syringe market include Becton, Dickinson and Company, Cardinal Health, Terumo Medical Corporation, B. Braun Melsungen AG, Baxter International, Smiths Group plc, Unilife Corporation, Gerresheimer AG, and Retractable Technologies, Inc.

The other prominent players in the value chain include L.O.M. Medical International, Techcon, Tecan Trading AG, Meissner Filtration Products, Inc., ARxIUM, and Parker Hannifin Corporation.

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Smart syringes can be defined as medical devices that are engineered with safety mechanisms to prevent the reuse of syringes and regulate unsafe injection practices. They are equipped with features to avoid needlestick injuries in the person who uses these syringes and prevent transmission of blood-borne diseases such as hepatitis C virus (HCV), hepatitis B virus (HBV), human immunodeficiency virus (HIV), and other life-threatening infections. They cater to numerous applications that include vaccination, drug delivery, and blood specimen collection. Different types of smart syringes such as auto disable (AD) syringes, passive safety syringes, and active safety syringes, are used depending on the nature of application. The most common types of smart syringes used across all healthcare sectors are active safety syringes, whereas, auto-disable (AD) syringes are used popularly for vaccination.

Increase in the count of needlestick injuries, high prevalence of blood-borne transmission such as Hepatitis B, C, and HIV through improper injection practices, growth in adoption of safety syringes, and advancements in technology drive the growth of the market. In addition, mandatory recommendation by WHO to switch to smart syringes to ensure safe injection practices is the major factor that boosts the market growth. 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.

Product type segment review

Based on product type, the market is segmented into auto disable, active safety, passive safety. Active safety syringes segment accounted for the highest revenue in 2017, owing to established market position. Furthermore, auto disable (AD) syringes are especially used for vaccination purposes and are specifically designed for single use with an internal mechanism that blocks the barrel once used, thereby preventing its further usage.

Application segment review

Based on application, it is classified into drug delivery, vaccination, and blood specimen collection. Among these, the drug delivery segment generated the highest revenue in 2017. Several advantages associated with syringes such as better bioavailability of intravenous drugs, shorter onset time, accurate titration of the dosage, and others have boosted the growth of the drug delivery segment.

Key geographical segment

Based on region, the smart syringe market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period due to rise in adoption of smart syringes, increase in awareness among consumers about smart syringes and high healthcare expenditure across the region.

Key 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, technology, application, and region.
• In-depth analysis based on region helps to 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.

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