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Global Smart Syringes Market Size To Reach USD 10.25 Billion By The End Of 2024

Summary

Global smart syringes market is expected to generate the revenue of USD 10.25 billion by 2024, registering a modest CAGR of around 10% over the forecast period.

Active safety syringes dominate the global smart syringe market by acquiring 67% of market share among other smart syringe types. The segment is projected to be opportunistic for entry level players. Furthermore, Auto disable smart syringes segment is anticipated to exhibit highest CAGR of 11.5% over the forecast period.

According to Goldstein Research, unsafe safety products, needle stick injuries, catheter related bloodstream infection and syringe reuse are the key drivers to boost the smart syringe market all across the globe. Needleless connectors were introduced in 1990’s and were the main reason for hike in cases of catheter-related bloodstream infections (CRBI) owing to the luer tip was capable of getting exposed of contact contamination (most probably with health personnel) or contaminated surface.  Since the luer tip was directly in contact with access port and infusate which lead to the increase risk of nosocomial infections, such as bloodstream infections.  Global smart syringes market is expected to generate the revenue of USD 10.25 billion by 2024, registering a modest CAGR of around 10% over the forecast period. Global syringes market is expected to reach USD 20 billion by 2030 expanding at a CAGR of 7.5% over the forecast period owing to increase in drug delivery, blood collection and vaccination procedures. Passive safety syringes is anticipated to exhibit the highest CAGR of 13% over the forecast period. Drug delivery is the largest segment in global smart syringe market followed by vaccination and blood collection applications. Within end user, other segment is going to grow at a modest CAGR over the forecast period.

Geographically, APAC is projected to be fastest growing market at a CAGR of 11% from 2016 to 2024 owing to the rising count of needle stick injuries, cross infection cases and  growing awareness among the population. 

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 Market Segmentation

  • Smart Syringe Market By Syringe Type
    • Auto Disable
    • Active Safety
    • Passive Safety
  • Smart Syringe Market By Application
  • Drug Delivery
  • Blood Collection
  • Vaccination
  • Smart Syringe Market By End Users
  • Hospitals and HMO’s
  • Home Care Settings
  • Clinics and Diagnostics Lab
  • Others (Psychiatrics)
  • Smart Syringe Market By Geography
  • North America (US, Canada)
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
  • Rest of the World

Global Smart Syringe Market Outlook 2024contains detailed overview of the global smart syringe market in terms of market segmentation by syringe type, application and end-user.

Further, for the in-depth analysis, smart syringe market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global smart syringes market report also includes competitive outlook of some of the major players of the global smart syringe market which includes profiling of companies like etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global smart syringe market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Browse full market report@ Global Smart Syringes Market 2024: Outlook, Insights, Forecast, Trends, Demand Analysis

 

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our analysts working on latest healthcare industry market reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.

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