Smart Syringes
Smart Syringes Market by Theraupetics (Active Safety Syringes, Auto-disable Syringes, Passive Safety Syringes), Application (Blood Specimen Collection, Drug Delivery, Vaccination), End User - Global Forecast 2024-2030
360iResearch Analyst
SPEAK TO ANALYST? OR FACE-TO-FACE MEETING?
Want to know more about the smart syringes market or any specific requirement? Ketan helps you find what you're looking for.
DOWNLOAD A FREE PDF
This free PDF includes market data points, ranging from trend analysis to market estimates & forecasts. See for yourself.

[193 Pages Report] The Smart Syringes Market size was estimated at USD 8.44 billion in 2023 and expected to reach USD 10.46 billion in 2024, at a CAGR 24.61% to reach USD 39.38 billion by 2030.

Smart Syringes Market
To learn more about this report, request a free PDF copy

Smart syringes are a remarkable innovation in medical devices, specifically designed to improve safety and efficiency in the administration of medications. These advanced syringes have features such as auto-disable mechanisms, which prevent reuse, and needlestick injury prevention safeguards. By incorporating technology that ensures a single use, smart syringes significantly reduce the transmission of blood-borne diseases, including HIV, hepatitis B, and hepatitis C, that can occur through needle reuse or improper disposal. The enhanced awareness about needlestick injuries and the spread of infectious diseases led to a higher need for smart syringes. Government policies and initiatives are promoting using smart syringes for injections and immunizations. However, the advanced features of smart syringes result in higher costs than traditional syringes, which may limit adoption in low-income countries. In addition, the strict government norms and associated product recalls for smart syringes further limit their penetration worldwide. Nevertheless, the ongoing efforts to develop smart syringes that can communicate with digital health records to track and manage vaccinations and drug delivery are expanding the scope of the smart syringes market. Moreover, increasing healthcare expenditures and advancing applicability are anticipated to drive the usage of smart syringes in the coming years.

Regional Insights

The Americas represent a highly developing smart syringes market, attributed to strong healthcare regulations, advanced medical technology, and high awareness among healthcare professionals. Investment in research and the patent landscape is dynamic in the Americas, reflecting a robust innovation ecosystem. Europe, the Middle East, and Africa observe highly evolving smart syringes due to stringent healthcare regulations, high-quality healthcare systems, and increased awareness of advanced healthcare solutions. The region shows promise with growing awareness and government initiatives to improve healthcare standards. The Asia-Pacific region is rapidly emerging as a significant market for smart syringes, driven by substantial healthcare sector investments, government initiatives for infectious disease control, and the increasing adoption of advanced medical technologies. Regional focus on domestic innovation has also seen a rise in patents related to smart syringes. Asia-Pacific represents a vast potential for the smart syringes market due to its large population, increasing healthcare expenditure, and growing awareness of healthcare practices.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Smart Syringes Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rising Prevalence of Various Target Diseases and Growth of the Geriatic Population
    • Increasing Number of Vaccination Campaigns and Initiatives
    • Major incidents of Healthcare-Acquired Infections and Rise in Count of Needle Stick Injuries
  • Market Restraints
    • Smart Syringes Product Recalls
  • Market Opportunities
    • Growing Need for Environmentally Safe and Auto Disable Syringes
    • Stringent Regulation for Patient Health and Safety
  • Market Challenges
    • Low Awareness and Usage of Smart Syringes in Developing Countries
Market Segmentation Analysis
  • Therapeutics: Increasing use of auto-disable syringes for immunization campaigns

    Active safety syringes require manual safety feature activation to prevent needlestick injuries. Active safety syringes are preferred in situations demanding the professional's control over the safety mechanism, often used by trained healthcare personnel in hospitals. Active safety syringes are ideal for controlled environments where training on usage is provided, ensuring safety protocols are actively followed. Auto-disable syringes are designed to prevent reuse by automatically disabling the syringe after a single use. Auto-disable syringes are suitable for immunization campaigns and in settings with high risks of infectious disease transmission through syringe reuse. Passive safety syringes have built-in safety mechanisms that automatically engage to protect users from needlestick injuries, requiring no active input from the user. Passive safety syringes are favored in fast-paced environments, where immediate attention to safety features is beneficial. Passive safety syringes are ideal for emergency departments and clinics where quick administration of injections is common, enhancing safety without disrupting workflow.

  • Application: Wide applicability of smart syringes for drug delivery

    The application of smart syringes in blood specimen collection is primarily geared towards enhancing safety and accuracy. These syringes prevent needle-stick injuries and ensure precise volume collection, significantly reducing the risk of cross-contamination. Smart syringes for drug delivery play a critical role in chronic disease management, including diabetes and autoimmune diseases. These syringes ensure precise dosage, minimize wastage, and enhance patient compliance with treatment schedules. The deployment of smart syringes in vaccination programs is paramount to global health initiatives, ensuring safe, efficient, and equitable distribution and administration of vaccines. These devices are instrumental in reducing vaccine waste and ensuring the correct dose delivery. Blood specimen collection focuses on safety and precision, whereas drug delivery emphasizes dosage accuracy and patient compliance. Vaccination smart syringes aim to optimize vaccine utilization and global health outcomes.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Smart Syringes Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Smart Syringes Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Smart Syringes Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Smart Syringes Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Smart Syringes Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Smart Syringes Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Smart Syringes Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Smart Syringes Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Smart Syringes Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Smart Syringes Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Smart Syringes Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Smart Syringes Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Terumo India Introduces Insulin Syringe for Patients Requiring Daily Insulin Injections

    Terumo India, a subsidiary of Terumo Corporation specializing in medical technology, announced the introduction of its innovative Insulin Syringe on World Diabetes Day. Designed to enhance patient comfort and ensure therapy compliance, this latest addition to Terumo India’s Diabetes care portfolio complements their previously launched FineGlide Sterile Pen needles. [Published On: 2023-11-14]

  • Sharps Technology Signs Asset Purchase Agreement to Acquire InjectEZ Specialty Copolymer Syringe Manufacturing Facility and a 10-Year Purchase Agreement for Over USD 400 Million from Nephron Pharmaceuticals

    Sharps Technology, Inc., a pioneering medical device and pharmaceutical packaging firm specializing in syringe products, alongside Nephron Pharmaceuticals Corporation, a notable private U.S. provider in contract manufacturing and outsourcing, announced a pivotal Asset Purchase Agreement (APA) for the acquisition of Nephron's InjectEZ specialty syringe manufacturing facility. This acquisition marks a significant milestone for Sharps but also includes a 10-year purchase agreement for next-generation copolymer pre-fillable syringe systems, heralding an era of innovation and growth. [Published On: 2023-09-26]

  • Stevanato Group Collaborates with Transcoject to Provide Pre-Fillable Syringe Polymer Options for Pharma

    Stevanato Group S.p.A., a provider of exceptional drug containment and delivery solutions to the pharmaceutical, biotechnology, and life sciences sectors, announced its strategic collaboration with Transcoject GmbH, an medical device and pharmaceutical packaging solutions expert. This partnership is set to enrich Stevanato Group’s offerings by adding pre-fillable syringes made from cyclic olefin polymer (COP) and cyclic olefin copolymer (COC), thereby enhancing the value chain for its customers. [Published On: 2023-01-14]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Smart Syringes Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Smart Syringes Market, highlighting leading vendors and their innovative profiles. These include AdvaCare Pharma, Agilent Technologies, Inc., B. Braun SE, Baxter International Inc., Becton, Dickinson and Company, Biocorp by Novo Nordisk A/S, Cardinal Health, Inc., DMC Medical Limited, Gerresheimer AG, Hindustan Syringes & Medical Devices Ltd., Medtronic PLC, MHC Medical Products, LLC, Numedico Technologies Pty Ltd., Owen Mumford Limited, Parker-Hannifin Corporation, Retractable Technologies, Inc., Revolutions Medical Corporation, Shanghai Kohope Medical Co., Ltd., Sharps Technology, Inc., Shimadzu Corporation, Smiths Group PLC, Sol-Millennium Medical Group, Stevanato Group, Tecan Group Ltd., Terumo Corporation, Thermo Fisher Scientific Inc., UltiMed, Inc., and Vogt Medical Vertrieb GmbH.

Smart Syringes Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Smart Syringes Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Theraupetics
    • Active Safety Syringes
    • Auto-disable Syringes
    • Passive Safety Syringes
  • Application
    • Blood Specimen Collection
    • Drug Delivery
    • Vaccination
  • End User
    • Diagnostics Center
    • Hospitals & HMOs
    • Physician Clinics

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Smart Syringes Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Smart Syringes Market, by Theraupetics
  7. Smart Syringes Market, by Application
  8. Smart Syringes Market, by End User
  9. Americas Smart Syringes Market
  10. Asia-Pacific Smart Syringes Market
  11. Europe, Middle East & Africa Smart Syringes Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 286]
  16. List of Companies Mentioned [Total: 28]
Smart Syringes - A Revolutionary Solution for Healthcare-Acquired Infections and Needle Sticks
December 19, 2023
BLOG
Smart Syringes - A Revolutionary Solution for Healthcare-Acquired Infections and Needle Sticks
Every year, millions of people suffer from Healthcare-Acquired Infections (HAIs) and Needle Stick Injuries (NSIs). These incidents not only put patients at risk but also impact healthcare workers' safety. With the rise of drug-resistant infections, the use of smart syringes can be a revolutionary solution to curb these growing concerns. This blog explores about smart syringes and how they can make a difference.

What are Smart Syringes?

Smart syringes are designed to prevent the reuse of and retrofitted needles. They feature safety mechanisms that automatically lock or retract the needle after the injection, reducing incidents of NSIs. Manufacturers have designed different types of smart syringes, including auto-disable syringes, reuse prevention syringes, and needle-free injectors.

Why are Smart Syringes Important?

Injections that are reused without sterilization can transmit HBV and HCV, along with various other infections. Smart syringes can eliminate the risk of transmission by reducing the chances of healthcare personnel handling contaminated needles. In addition, they can also cut down on medication waste, which can reduce healthcare costs.

Advantages of Smart Syringes:

Smart syringes have several advantages, making them a favorable option in the medical industry. They are designed to reduce waste, minimize needle sticks and healthcare-associated infections, save time and money by eliminating the need for external gadgets such as needle retractors, and simplify the injection process.

How Are Smart Syringes Being Used Globally?

Smart syringes have been made mandatory in several countries worldwide, where healthcare-acquired infections and needle stick injuries are prevalent. Manufacturers have been working closely with governments and healthcare organizations to implement appropriate strategies for using smart syringes.

What Does The Future Hold for Smart Syringes?

The market for smart syringes is expected to expand gradually as it presents an innovative solution for improving patient safety. The surging number of needle stick injuries and the prevalence of drug-resistant infections have caught the attention of medical device manufacturers. They have responded by developing innovative designs and collaborating with stakeholders to improve the usability of smart syringes.

The use of smart syringes is a promising solution to the growing concern of healthcare-acquired infections, needle stick injuries, and medication safety. They are designed to prevent the reuse and retrofitted needles, which can eliminate the risk of transmission. As the demand for smart syringes grows, manufacturers will continue to innovate and develop novel designs that enhance patient safety, reduce healthcare costs, and streamline the injection process.

Frequently Asked Questions
  1. How big is the Smart Syringes Market?
    Ans. The Global Smart Syringes Market size was estimated at USD 8.44 billion in 2023 and expected to reach USD 10.46 billion in 2024.
  2. What is the Smart Syringes Market growth?
    Ans. The Global Smart Syringes Market to grow USD 39.38 billion by 2030, at a CAGR of 24.61%
  3. When do I get the report?
    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
  4. In what format does this report get delivered to me?
    Ans. We will send you an email with login credentials to access the report. You will also be able to download the pdf and excel.
  5. How long has 360iResearch been around?
    Ans. We are approaching our 7th anniversary in 2024!
  6. What if I have a question about your reports?
    Ans. Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available and included in every purchase to help our customers find the research they need-when they need it.
  7. Can I share this report with my team?
    Ans. Absolutely yes, with the purchase of additional user licenses.
  8. Can I use your research in my presentation?
    Ans. Absolutely yes, so long as the 360iResearch cited correctly.