Smart Syringes Market is Expected to Surpass USD 13.85 Billion by 2030 at a CAGR of 7.6% from 2022 to 2030; Reducing Needle Stick Injuries Make Smart Syringes an Attractive and Cost-Effective Option
SkyQuest’s Smart Syringes market report is valuable for those seeking insights into the rapidly growing industry. The report is written clearly and concisely, making it accessible to a wide range of readers, from industry experts to casual readers. Furthermore, it offers readers a thorough understanding of the key and secondary drivers, providing them with a comprehensive view of the current market situation and future projections.
Westford, USA,, March 22, 2023 (GLOBE NEWSWIRE) — The North America and Asia Pacific regions are anticipated to grow substantially in the Smart Syringes market. This growth can be attributed to several factors, such as an increased focus on reducing needle stick injuries, preventing the spread of infections and diseases, and the rising demand for proper medication, dosage, and tracking. Furthermore, the escalating prevalence of chronic diseases, expanding aging population, and government initiatives and regulations promoting the adoption of smart syringes also fuel this growth.
SkyQuest’s latest global research findings reveal that the global Auto disabled syringes market is on a steady rise and expected to lead by 2030. This positive outlook for the electric vehicle market indicates growth potential for associated industries, including the Smart Syringes market. The growth of this segment can be attributed to its ability to prevent syringe reuse and reduce the risk of needlestick injuries.
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Browse in-depth TOC on “Smart Syringes Market”
- Pages – 242
- Tables – 117
- Figures – 67
Smart syringes are essential today because they are designed with safety features to help prevent the spread of infections and diseases, as well as reduce needlestick injuries. They also allow accurate medication dosage and tracking, improving patient outcomes and overall healthcare quality.
Prominent Players in Smart Syringes Market
- Becton, Dickinson, and Company
- Cardinal Health
- Gerresheimer AG
- Smiths Medical
- Nipro Corporation
- Retractable Technologies, Inc.
- Terumo Corporation
- B. Braun Melsungen AG
- Baxter International Inc.
- Medtronic plc
- Gerresheimer AG
- Unilife Corporation
- West Pharmaceutical Services, Inc.
- Gerresheimer AG
- SCHOTT AG
- Gerresheimer AG
- AdvaCare Pharma
- Zeon Corporation
- Polymedicure
- Hamilton Company
Drug Delivery Application Segment to Drive Higher Sales Due to the Increasing Prevalence of Chronic Diseases
According to a recent analysis, the Drug Delivery Application segment emerged as a significant contributor to the rapid development of the Smart Syringes market in 2021. This trend is expected to continue from 2022 to 2030 as the segment retains its dominance in the market. The increasing prevalence of chronic diseases, such as diabetes and cancer, and the need for self-administration of drugs have contributed to the growth of the drug delivery segment. SkyQuest, a market research firm, has reported that the segment will maintain its dominance in the projected period.
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Research analysis suggests North America is poised to become a significant player in the Smart Syringes market from 2022 to 2030. This growth can be attributed to various factors, including the increasing prevalence of chronic diseases, rising demand for self-administration of drugs, and government initiatives promoting safe injection practices. Additionally, significant market players in the region and the development of technologically advanced intelligent syringes are contributing to the market’s growth.
Auto-Disabled Syringes Segment to Exhibit Strong Growth due to Infection Transmission
The Auto Disabled Syringes segment emerged as the leading method in the Smart Syringes market in 2021 and is expected to maintain its position from 2022 to 2030. Auto-disable syringes are intended to prevent needle reuse, mitigating the risk of needlestick injuries and infection transmission. The growth of this segment can be attributed to the growing demand for safe and efficient injection systems, as well as government initiatives promoting the adoption of auto-disable syringes.
The Asia Pacific region became a significant force in the Smart Syringes market and is expected to maintain its leading position by 2030. The increasing focus of market players on expanding their presence in the Asia Pacific, coupled with the increasing government initiatives promoting the adoption of intelligent syringes, are driving market growth in the region. In addition, according to SkyQuest, the region is expected to grow at the highest CAGR during the forecasted period.
The Smart Syringes market underwent a comprehensive analysis in a recent report, scrutinizing the industry’s major players. The report evaluated several aspects, such as innovative business policies, strategies, mergers, and collaborations, providing valuable insights into the primary trends and significant breakthroughs in the market. Additionally, the report conducted a thorough examination of the market share of the top segments, along with providing a detailed geographic analysis. The report also emphasized the major players in the industry and their endeavors towards developing innovative solutions to meet the demand.
Key Developments in Smart Syringes Market
- Sharps Technology, headquartered in Melville, New York, has successfully acquired Safegard Medical’s syringe manufacturing facility in Hungary for $2.5 million. With this acquisition, Sharps aims to expand its manufacturing capabilities and leverage the facility to meet the increasing demand for its smart safety syringes. The global market for smart safety syringes is predicted to reach $14 billion by 2026.
- NP Plastibell has introduced a “smart syringe” that comes pre-filled with an embedded NFC chip. This chip transmits information about the medication to healthcare professionals and patients, providing them with relevant information.
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Key Questions Answered in Smart Syringes Market Report
- What are the specific drivers of growth that are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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