December 10, 2019
According to the latest study titled ‘Smart Syringes Market to 2027 - Global Analysis and Forecasts By Type (Active Safety Syringes, Passive Safety Syringes and Auto-Disable Syringes); Application (Vaccination, Drug Delivery and Blood Specimen Collection); End User (Hospitals & Clinics, Home Care and Other End Users) and Geography’ available with Market Study Report LLC, the global smart syringes market is estimated to accumulate US $14,431.33 million by the year 2027.
Smart syringes are equipped with safety mechanisms that prevents reutilization and controls unsafe injection practices. Factors such as rising prevalence of sharp injuries and advancement in technology in the field of smart syringes are aiding the growth of smart syringes market.
According to the study, the global smart syringes market was valued at US $5,911.82 million in 2018 and is anticipated to register a growth rate of 10.6% during the analysis period. The study encompasses details about market size based on revenue shares for each segment, alongside the comparative analysis of key market players. Information about the market dynamics covering drivers and restraints is also outlined in the report.
Generally, sharp instruments are contaminated with an infected patient’s blood resulting in the transmission of several diseases, including hepatitis C, hepatitis B, and human immunodeficiency virus (HIV), leading to AIDS (Acquired Immune Deficiency Syndrome). As per Ontario Hospital Association 2016 survey, there is a 6% to 30% probability for an exposed person to get infected from hepatitis B contaminated needle in the workplace, while the probability is 0.3% for encountering HIV infection. These statistics point towards the necessity of using smart syringes, hence fueling the demand from healthcare professionals.
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Based on type, smart syringes market is segmented into passive safety syringes, active safety syringes, and auto-disable syringes. While as per application spectrum, the industry is divided into drug delivery, vaccination, and blood specimen collection. Speaking of end-user scope, smart syringes market is split into home care, hospitals & clinics, and others.
Some of the vendors that operate in smart syringes market are Baxter, Terumo Corporation, Braun Melsungen Ag, Cardinal Health, BD, Parker Hannifin Corp., Gerresheimer AG, Numedico Technologies Pty. Ltd., AdvaCare Pharma, and Retractable Technologies, Inc.
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