Latest Market Report | Smart Syringe Market Size, Share, & Forecast 2023-2030 - Study by RationalStat

The global smart syringe market is expected to reach US$ 11.3 billion by 2030, with an annual growth rate of more than 6.7%.

According to RationalStat's recent industry analysis, the Global Smart Syringe Market value is estimated at US$ 7.2 billion in 2023 and is expected to rise at a strong CAGR of over 6.7% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

A smart syringe is a medical device equipped with innovative features and technologies designed to enhance safety, accuracy, and efficiency in the administration of medications or vaccines. These syringes often incorporate various technologies, such as electronic components, sensors, and connectivity, to provide advanced functionalities.

The global awareness of blood-borne diseases, such as HIV and hepatitis, has increased the demand for safer medical devices. Smart syringes with built-in safety features contribute to infection prevention, making them more attractive in healthcare settings globally.

According to a deep-dive market assessment by RationalStat, the global Smart Syringe market has been analyzed on the basis of market segments, including product, application, age group, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global Smart Syringe market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Smart Syringe market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Smart Syringe Market: Segmental and Market Share Analysis

• On the basis of application, drug delivery segment is dominant owing to its wide range of applications in therapeutics.

• On the basis of age group, pediatrics is the most lucrative segment with highest CAGR of 9.5% due to increase in the pediatric populations between 0 to 18 years.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 7.2 billion
Market Size Forecast US$ 11.3 billion
Growth Rate 6.7%
Dominant Segment Drug Delivery
Dominant Region North America

Key Market Drivers
• Integration of Electronic Components in Smart Syringes
• Minimize the Wastage of Medication
• Rising Prevalence of Chronic Diseases

Companies Profiled

• Merit Medical Systems
• Becton
• Nipro Corporation
• Dickinson and Company
• Revolutions Medical Corporation
• Retractable Technologies Inc
• B. Braun Melsungen AG
• Smiths Group plc
• Terumo Corporation
• Gerresheimer AG

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In November 2022, Schott Pharma and Schreiner MediPharm formed a cooperation. The two companies are experts in drug containment and distribution, and they collaborated on a new RFID solution for syringes.

Some of the prominent players and suppliers operating and contributing significantly to the global smart syringe market growth include Merit Medical Systems, Becton, Nipro Corporation, Dickinson and Company, Revolutions Medical Corporation, Retractable Technologies Inc, B. Braun Melsungen AG, Smiths Group plc, Terumo Corporation, Gerresheimer AG among others.

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RationalStat has segmented the global smart syringe market based on product, application, age group, end user and region
• Global Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Product
o Auto-disable Syringes
o Active Safety Syringes
o Passive Safety Syringes
• Global Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
o Drug Delivery
o Vaccination
o Blood Specimen Collection
• Global Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Age Group
o Pediatrics
o Adults
• Global Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End User
o Hospitals
o Diabetic Patients
o Family Physician
o Psychiatrics
• Global Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Smart Syringe Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Smart Syringe Report:
• What will be the market value of the global Smart Syringe market by 2030?
• What is the market size of the global Smart Syringe market?
• What are the market drivers of the global Smart Syringe market?
• What are the key trends in the global Smart Syringe market?
• Which is the leading region in the global Smart Syringe market?
• What are the major companies operating in the global Smart Syringe market?
• What are the market shares by key segments in the global Smart Syringe market?

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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