Smart Syringes Market Sees Increased Investment as Governments and Private Sector Push for Patient Safety and Smart Medical Infrastructure

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Smart Syringes Market- (By Product (With Needle (Fixed, Exchangeable), Without Needle Bioalcohols), By Volume (Below 1000 μL, Above 1000 μL), By Application (Medical (Drug Delivery, Blood Sample Collection, Vaccination), Non -Medical use )), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Smart Syringes Market is valued at USD 67.29 Mn in 2023, and it is expected to reach US$ 145.62 Mn by 2031, with a CAGR of 10.21% during a forecast period of 2023-2031.

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Smart syringes are advanced medical devices designed with integrated inactivation mechanisms that minimize the risk of needlestick injuries and prevent the transmission of blood-borne infections, including hepatitis B, hepatitis C, and HIV. These syringes are utilized across a range of clinical applications such as vaccination programs, therapeutic drug administration, and blood sample collection. The increasing global prevalence of infectious diseases, coupled with the expansion of immunization initiatives, is expected to drive the demand for smart syringes over the forecast period.

Moreover, the growing emphasis on reducing hospital-acquired infections and improving healthcare safety standards is further propelling the adoption of these devices. The global geriatric population-more vulnerable to infections due to age-related immunodeficiency-also contributes to the rising need for safe and efficient injection technologies.

The heightened awareness surrounding occupational hazards in healthcare settings, particularly the increasing incidence of needlestick injuries among medical professionals, is another critical factor influencing market growth. These injuries pose a serious risk of disease transmission and underscore the need for safer injection practices, thereby fostering wider implementation of smart syringes in both developed and emerging healthcare markets.

List of Prominent Players in the Smart Syringes Market:
• Becton, Dickinson and Co.
• B. Braun Melungeon AG
• Terumo Medical Corporation
• Baxter International, Inc
• Retractable Technologies, Inc
• Smith's Group Plc
• Merck & Company Inc.
• Medtronic Plc (Covidien)
• Unilife Corporation
• Revolutions Medical Corporation
• AdvaCare Pharma
• Cardinal Health
• Parker Hannifin Corp.
• Numedico Technologies Pty Ltd
• Thomas Scientific (U.S),
• McKesson Medical-Surgical Inc. (U.S)
• Sharps Technology Inc.

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Market Dynamics
Drivers:
The growing preference for minimally invasive medical procedures is a key factor driving the demand for smart syringes. These advanced devices are designed to prevent needlestick injuries, thereby reducing the risk of transmitting blood-borne infections such as HIV, hepatitis B, and hepatitis C. Increasing utilization of smart syringes across various medical applications-including therapeutic drug delivery, blood sample collection, and immunization programs-is further accelerating market growth. Global health authorities, including the World Health Organization (WHO), have strongly advocated for the adoption of smart syringes to enhance safety in clinical settings, which has reinforced market expansion. The COVID-19 pandemic has also contributed to heightened demand, especially in pediatric care where patients are more susceptible to infections. In addition, government-led immunization initiatives targeting high-risk and vulnerable populations from early ages are expected to boost demand in the adult segment as well.

Challenges:
Despite their safety advantages, the relatively high cost of smart syringes remains a significant challenge to widespread adoption, particularly in developing regions. While some variants are competitively priced with single-use syringes, others-owing to the inclusion of sophisticated safety features-can cost up to five times more. This pricing disparity limits accessibility in cost-sensitive healthcare systems. Moreover, the substantial capital investment required for manufacturing and maintaining these devices, along with pricing fluctuations driven by ongoing technological advancements, further restrains market penetration. Nonetheless, increasing competition and continuous innovation are anticipated to gradually offset these limitations over the forecast period.

Regional Trends:
North America is expected to lead the global smart syringes market, supported by the early adoption of advanced healthcare technologies and growing awareness of the dangers associated with unsafe injection practices. Meanwhile, the Asia Pacific region is emerging as a high-growth market due to rising investments in healthcare infrastructure, increased public and private sector funding, and a growing emphasis on improving patient safety standards.

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Recent Developments:
• In July 2022, Sharps Technology acquired the Hungarian syringe manufacturing facility of Safegard Medical for $2.5 Mn. Sharps intended to increase its manufacturing capacity and use the facility to help meet the increasing demand for its smart safety syringes, a market that is projected to reach $14 billion by 2026. The production of intelligent syringes, which are designed to eliminate inadvertent needlestick injuries, prevent needle reuse, and reduce vaccine and medication waste.
• In Mar 2021, Allied Telesis and Terumo Co., Ltd. have collaborated to provide effective location visualisation for medical IoT devices. Terufusion Smart Syringe Pumps were added as wireless devices to the network monitoring and management platform of Allied Telesis Vista Manager EX. On the network map, along with other network and IoT devices, they were then readily identifiable by a syringe pump icon, and their precise location was displayed.

Segmentation of Smart Syringes Market-
By Product-
• With Needle
o Fixed
o Exchangeable
• Without Needle Bioalcohols
By Volume
• Below 1000 μL
• Above 1000 μL
By Application-
• Medical
o Drug Delivery
o Blood Sample Collection
o Vaccination
• Non -Medical use
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/smart-syringes-market/2010

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.