The smart syringe global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Syringe Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart syringe market size has grown rapidly in recent years. It will grow from $10.32 billion in 2023 to $11.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to need for medication safety, prevalence of blood-borne diseases, regulatory compliance, global immunization programs, increased healthcare awareness..
The smart syringe market size is expected to see rapid growth in the next few years. It will grow to $17.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to global vaccination initiatives, prevention of medication errors, rise in chronic diseases, expansion of home healthcare, government healthcare initiatives.. Major trends in the forecast period include collaborations and partnerships, regulatory compliance, adoption in vaccination programs, focus on sustainable materials, expansion in emerging markets..
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Scope Of Smart Syringe Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Syringe Market Overview
Market Drivers –
A surge in the incidences of needlestick injuries is expected to propel the growth of the smart syringes market going forward. Needlestick injuries occur when a needle or another sharp medical device accidentally punctures a healthcare worker’s skin. Smart syringes are very useful in minimizing needlestick injuries and bloodborne disorders such as HIV and Hepatitis B, as these smart syringes are equipped with exceptional safety features such as retractable needles that automatically get retracted so that accidental needlestick injuries and subsequent transmission of diseases are avoided. For instance, in May 2022, according to a survey report of 361 healthcare workers conducted in Saudi Arabia by Frontiers Media, a Switzerland-based publisher of peer-reviewed, open-access scientific journals, the prevalence of needle stick injuries among physicians was 36% and needle stick injuries among nurses were 34.8% in 2021. Further, 53.8% of injuries from needle sticks were not reported to the authority by healthcare and. Therefore, increasing needle stick injuries drive the smart syringes market.
Market Trends –
Product innovations are a key trend gaining popularity in the smart syringes market. Major companies in the market are introducing innovative products such as the Gx InnoSafe safety syringe to sustain their position in the market. For instance, in October 2021, Gerresheimer, a Germany-based manufacturer of drug delivery systems and packaging products, launched the Gx InnoSafe safety syringe system. It is the first-in-class syringe to feature an integrated passive safety system. The uniqueness of the product is that the needle is fixed in an integrated safety sleeve after use so accidental needle stick injuries are avoided after usage. Also, it is easy to fill with no need for an additional assembly for fill the syringe.
The smart syringe market covered in this report is segmented –
1) By Product: Auto-Disable Syringes, Active Safety Syringes, Passive Safety Syringes
2) By Age Group: Pediatrics, Adults
3) By Application: Drug Delivery, Vaccination, Blood Specimen Collection
4) By End Users: Hospitals And Health Maintenance Organizations (HMOs), Diabetic Patients, Family Practices, Psychiatrics, Other End Users
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Regional Insights –
North America was the largest region in the global smart syringes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart syringe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the smart syringe market report are Becton Dickinson and Company, Gerresheimer AG, Baxter International Inc., Terumo Corporation, Braun Melsungen AG, Cardinal Health Inc., Smiths Medical Inc, Parker-Hannifin Corporation, Retractable Technologies Inc., AdvaCare Pharma, Numedico Technologies Pty Ltd., Merit Medical Systems Inc., Nipro Corporation, Revolutions Medical Corporation, Sharps Technology, Unilife Corporation, West Pharmaceutical Services Inc., Schott AG, Vetter Pharma International GmbH, Catalent Inc., Agilent Technologies Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., Trajan LEAP PAL Parts + Consumables, Clayens-np, Haselmeier GmbH, Owen Mumford Ltd., Ypsomed Holding AG, Weigao Group, Jiangsu Huida Medical Instruments Co. Ltd., Shandong Weigao Group Medical Polymer Co. Ltd., Zibo Minkang Pharmaceutical Packing Co. Ltd.
Table of Contents
1. Executive Summary
2. Smart Syringe Market Report Structure
3. Smart Syringe Market Trends And Strategies
4. Smart Syringe Market – Macro Economic Scenario
5. Smart Syringe Market Size And Growth
…..
27. Smart Syringe Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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