Global Smart Syringe Market to Grow at a CAGR of 9.7% During 2024-2032, Driven by the Increasing Focus on Injection Safety

The market growth can be attributed to the increasing focus on injection safety and the introduction of various favourable initiatives by organisations to boost public awareness regarding safe syringes. With the growing awareness regarding the adverse impact of reusing syringes across the globe, the demand for safe and smart syringes is significantly growing. The cost-effectiveness of smart syringes is also surging their demand in the healthcare sector, which is fuelling the growth of the market. As syringes are extensively used for immunisation applications, various governments are increasingly promoting smart syringes to prevent bloodborne infections, thereby driving the market’s expansion. The market is also being augmented by the increasing development of smart syringes to protect health workers from needlestick injuries and resulting infections. Furthermore, the enhanced reliability and traceability offered by smart syringes are surging their demand, which is providing impetus to the growth of the market.

Becton, Dickinson and Company (NYSE: BDX), one of the leading companies in the market, strengthened its Nebraska-based manufacturing capacity of needles and syringes in October 2021. The expanded capacity would enhance the United States government’s access to safety injection devices. This shows the company’s commitment to support vaccination efforts in the United States by enhancing the domestic manufacturing of syringes, including smart syringes. Moreover, the company had announced its plans to invest USD 1.2 billion in the coming four years to boost its technology for pre-fillable syringes and advanced drug delivery systems while advancing its manufacturing capacity. Such initiatives are boosting the demand for smart syringes, which is anticipated to propel the market growth over the forecast period.

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Market Analysis by Product, Application, Age Group, End User, and Region:

• The market, on the basis of product, can be divided into auto disable syringes, active safety syringes, and passive safety syringes.

• Based on application, the market can be divided into drug delivery, vaccination, and blood specimen collection.

• The major age groups of smart syringe include paediatrics and adults.

• By end user, the market is classified into hospitals and HMOs, diabetic patients, and general practitioners, among others.

• The regional markets for smart syringe include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing awareness regarding needle stick injuries, advancements in healthcare procedures, and the surging private and public medical expenses are invigorating the market growth of smart syringe.

• The market is being bolstered by the introduction of various favourable government initiatives to immunise high-risk groups at an early age.

• The growing incidences of needle-stick injuries and the surging prevalence of blood-borne diseases are driving the market for smart syringe.

• The rising geriatric population, coupled with the increasing focus to prevent hospital-acquired infections, is propelling the growth of the market for smart syringe.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for smart syringe for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, applications, age groups, end users, and major regions of smart syringe.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global smart syringe market are B. Braun Melsungen AG, Terumo Corporation, Smiths Group plc, and Becton, Dickinson and Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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