Smart Syringes Market Size, Share & Analysis | Industry Report 2024

The global smart syringes market was valued at $5.1bn in 2016 and is anticipated to reach $10.2bn. by 2024.

The major factors propelling the market growth include the rising prevalence of chronic diseases, high risk of infection due to reusable syringes, an increase in geriatric population, and improvement in access to healthcare facilities across the emerging nations. Moreover, the growing preference for injectable drugs and rising demand for vaccination against such as hepatitis, polio, measles, and other diseases is expected to boost usage rates over the forecast period.

Smart syringes provide safety features which help in controlling and preventing the risk of infection spread. As per 2014 World Health Organization (WHO) study based on most recent data available (2010), it is observed that approximately 1.7 million people were infected with hepatitis B virus and 3,15,000 people were infected with hepatitis C virus and nearly 33,800 people were infected with HIV, due to the usage of unsafe injections.

Moreover, the WHO estimates suggest that 16 billion injections are administered on an average each year and 90% of injections are used for drug administration through intramuscular and intradermal routes. Furthermore, out the remaining 10%, 5% injections are utilized for immunization programs in adults and children, 5% are used for blood transfusion and other procedures. The smart syringes market is anticipated to witness strong demand over the next few years due to WHO recommendations to governments and healthcare providers to use smart syringes for all applications by 2020.

North America accounted for the maximum share of 40% in 2016 and is expected to grow at a modest CAGR over the forecast period. The North American region is mainly influenced by healthcare dollars spent in the U.S., the presence of a well-developed healthcare infrastructure, high usage of injectable drugs, continuous focus on vaccination programs, growing awareness about needlestick injuries, hospital acquired infections amongst healthcare professionals and patients.

Asia Pacific is anticipated to lead other regions with the highest CAGR of nearly 9% over the forecast period. The growing prevalence of chronic diseases, rise in obese population, high demand for vaccination against hepatitis, polio and other viral diseases are expected to drive the market growth over the next few years. Moreover, with the large scale production of smart syringes the prices are expected to decline, thus boosting the usage rates through the forecast period.

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Key findings from the study: -
• As per 2014 World Health Organization (WHO) study based on most recent data available (2010), it is observed that approximately 1.7 million people were infected with hepatitis B virus and 3,15,000 people were infected with hepatitis C virus and nearly 33,800 people were infected with HIV, due to the usage of unsafe injections.

• The prices for standard syringes (without safety mechanism) are in the range of USD 0.03 to 0.04 when procured by UN agencies in large scale, however retail prices at hospital and clinic level might be 30% to 40% higher.

• The key market participants include B. Braun Melsungen AG, Smiths Group plc, Terumo Medical Corporation, Medtronic Plc, Baxter International, Becton Dickinson & Co, Revolutions Medical Corporation, Unilife Corporation and others.

Ameri Research has segmented the Smart Syringes Market by product type, Application and End-Use.

Market Segmentation:

Smart Syringes by Product (Revenue, Million, 2014 – 2024)
• Auto-disable syringes
• Active safety syringes
• Passive safety syringes

Smart Syringes by Application (Revenue, USD Million, 2014 – 2024)
• Drug Delivery
• Vaccination
• Blood Specimen Collection
• Others

Smart Syringes by End-Use (Revenue, USD Million, 2014 – 2024)
• Hospitals and HMO’S
• Diabetic Patients
• Physician Practices
• Others

Smart Syringes Regional Outlook (Revenue, USD Million, 20124- 2024)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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