Global Smart Syringes Market to Reach USD 2191.29 Billion by 2032, Driven by Rising Prevalence of Chronic Diseases and Demand for Secure Injection Systems"

The Smart Syringes Market globally was valued at USD 1096.19 million in 2022 and is projected to reach USD 2191.29 million in 2032, with a revenue CAGR of 8% during the forecast period. Market revenue growth is being driven by several factors, including the increasing prevalence of chronic diseases such as diabetes and cancer and the growing demand for secure and reliable injection systems. The demand for smart syringes is increasing rapidly due to the rising awareness of needlestick injuries and their potential to spread diseases like HIV, hepatitis B, and hepatitis C.

Smart syringes have built-in safety features that reduce the risk of disease transmission by preventing needlestick injuries and reuse. These syringes come with needle shields, guards, and retractable needles, which protect against needlestick injuries. The market revenue growth of smart syringes is being driven by their increasing use in healthcare settings. Furthermore, with the growing importance of vaccination programs and the need for safe injection techniques, the demand for smart syringes is expected to increase in the coming years.

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Key players in the Smart Syringes Market -

• Becton, Dickinson and Company
• Medtronic
• B. Braun Melsungen AG
• Fresenius Kabi AG
• Smiths Medical
• Unilife Corporation
• Terumo Corporation
• Enable Injections
• Gerresheimer AG
• West Pharmaceutical Services, Inc.
• Nipro Medical Corporation

Another factor driving market revenue growth is the emphasis on developing innovative technologies that enhance the safety and effectiveness of smart syringes. For example, some manufacturers are creating syringes with electronic sensors that can determine when the injection is completed and communicate that information to medical personnel. These syringes can monitor the number of injections administered and provide information on injection habits, allowing medical personnel to track patient treatment regimens.

The demand for prefilled syringes is also increasing, which is driving market revenue growth. Prefilled smart syringes are becoming more popular because they are easy and convenient to use. They eliminate the need for traditional vials and syringes, and they can be delivered conveniently by patients or medical personnel. The ability of prefilled smart syringes to provide convenience and safety is driving market revenue growth. Additionally, rising government funding and initiatives to increase the use of smart syringes in vaccination programs are expected to boost market revenue growth.

However, the high cost of smart syringes is a significant factor limiting market revenue growth. These syringes are more expensive than conventional syringes, which may prevent low-income countries from adopting them. Moreover, the lack of knowledge about smart syringes and their benefits in some regions may restrict market revenue growth. Furthermore, regulatory challenges associated with smart syringe approval are expected to affect market revenue growth. With stringent safety concerns, the approval process for smart syringes is rigorous, which could delay the launch of new products. Nonetheless, it is expected that these challenges will be addressed, and market revenue growth will be fueled by increased investment in research and development efforts to improve the safety and effectiveness of smart syringes.

Segments Covered in the Report

The global market for smart syringes is segmented based on product type and application. The revenue in USD Million for the period 2019-2032 is provided for each segment.

In terms of product type, the market is categorized into three segments: auto-disable, active safety, and passive safety. Auto-disable syringes are designed to be used only once and become disabled automatically, preventing their reuse. The revenue generated by the auto-disable segment is provided in USD Million for the forecast period.

Active safety syringes have safety features that protect against needlestick injuries and prevent reuse. These features include retractable needles, needle shields, and needle guards. The revenue generated by the active safety segment is provided in USD Million for the forecast period.

Passive safety syringes are designed to protect against needlestick injuries by shielding the needle or creating a physical barrier between the needle and the user. The revenue generated by the passive safety segment is provided in USD Million for the forecast period.

In terms of application, the market is segmented into drug delivery, vaccination, and blood specimen collection. The revenue generated by each application segment is provided in USD Million for the forecast period.

Drug delivery is the largest application segment in the market, with smart syringes being used for the administration of various drugs. The revenue generated by the drug delivery segment is provided in USD Million for the forecast period.

Vaccination is another important application segment in the market, with smart syringes being increasingly used in vaccination programs to prevent the spread of infectious diseases. The revenue generated by the vaccination segment is provided in USD Million for the forecast period.

Blood specimen collection is a niche application segment in the market, with smart syringes being used to collect blood samples for various diagnostic tests. The revenue generated by the blood specimen collection segment is provided in USD Million for the forecast period.

The segmentation of the global smart syringes market based on product type and application provides valuable insights into the market dynamics, helping stakeholders make informed decisions about their investments in the market.

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Strategic development:

Several major companies in the medical technology industry have recently announced the launch of new products or features in the smart syringe market. In 2020, Becton, Dickinson and Company acquired C. R. Bard in order to expand their product offerings, including in the area of smart syringes. Medtronic also launched the MiniMed 770G insulin pump system, which includes a smart syringe feature, designed to improve insulin management and glucose control for people with diabetes.

In 2021, B. Braun Melsungen AG launched the Omnican smart pen, which is a smart syringe designed for insulin delivery. The pen includes a digital display and can track insulin dosage and usage. Fresenius Kabi AG launched the SmartSite+ smart syringe for drug delivery in hospitals, featuring a unique barcode that enables precise identification and tracking of the medication being delivered. Terumo Corporation also announced the launch of the SmartSlip, a smart syringe with a retractable needle that reduces the risk of needlestick injuries.

Becton, Dickinson and Company also launched the BD Intelliport Medication Management System, which includes a smart syringe feature to improve medication administration and reduce medication errors. Medtronic continued to expand its offerings with the launch of the MiniMed 780G insulin pump system, featuring advanced algorithms and automated insulin delivery. B. Braun Melsungen AG launched the SpacePump Smart Infusion Pump, which includes a smart syringe feature, to improve medication delivery and reduce medication errors. Finally, Fresenius Kabi AG launched the 'Tubing Free' smart syringe for drug delivery in hospitals, which eliminates the need for tubing, thereby reducing the risk of medication errors and contamination.

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