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Know the Factors that Driving the Growth of Smart Syringes Market Opportunity Analysis and Industry Forecast, 2016-2023

Global Opportunity Analysis and Industry Forecast, 2014-2020


Smart Syringes Market

“The global smart syringes market is driven by the rising count of needle stick injuries, shift from conventional syringes to smart syringes, growing awareness in the emerging economies, and widespread adoption of safety syringes across all applications, especially in drug delivery. In addition, growing mandatory regulations laid by WHO about the use of smart syringes is further expected to boost the market growth. However, high cost associated with smart syringes and alternative drug delivery methods are likely to hamper the market growth.�


Smart Syringes Market Overview Smart Syringes Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7.6 billion by 2020, registering a CAGR of 9.6% during the forecast period 2015 - 2020. Active safety syringes segment accounted for two-third of the market revenue in 2015, and would remain dominant throughout the analysis period. Access Full Summary at: https://www.alliedmarketresearch.com/smart-syringesmarket The drug delivery/curative segment is expected to generate the highest revenue throughout the analysis period. This is attributed to the high demand for smart syringes for diabetes treatment, growing popularity of passive safety syringes, and higher risk of the transmission of hepatitis B, C, & HIV during injection and rising adoption of safety syringes among doctors. In addition, stringent regulations laid by WHO and UNICEF mandating the use of smart syringes for drug delivery are likely to drive the market growth in the future.


Smart Syringes Market The industry is driven by increasing count of needle stick injuries, high prevalence of blood-borne transmission such as Hepatitis B, C, HIV through improper injection practices, growing adoption of safety syringes and technological advancements. Besides this, the re-use prevention feature of these syringes have kept the future of the market bright. In addition, mandatory recommendation by WHO to switch to smart syringes ensuring safe injection practices is the major factor boosting the growth. However, the high cost associated with smart syringes especially passive safety syringes, low awareness in developing economies and alternative drug delivery methods are likely to impede the growth. The world smart syringes market volume is projected to reach 15.8 billion units by 2020 and is projected to grow at a CAGR of 8.2 during the forecast period. The world smart syringes market is segmented based on types, applications, end users and geography. The type segment is further categorized into auto disable (AD) syringes, active safety syringes and passive safety syringes. Active safety syringes accounts for the highest revenue in 2015, owing to established market position.


Smart Syringes Market Snapshot Several advantages associated with syringes such as better bioavailability of intravenous drugs, shorter onset time, accurate titration of the dosage, among others have boosted the growth. Based on end user, the sector is categorized into hospitals, diabetic patients, family practices, and psychiatrics among others. Based on geography, the sector is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America would continue to dominate the sector until 2020, on account of higher adoption of smart syringes, high awareness among the consumers about smart syringes and high healthcare expenditure across the region. Competitive Intelligence on prominent manufacturers of smart syringes provide key insights in terms of strategies implemented to gain significant share in the smart syringes market. Becton, Dickinson & Company are the leading player that provides a wide range of smart syringes across all healthcare sectors worldwide. Few of the smart syringes provided by these company include BD Eclipse and BD SafetyGlide syringes (uses active system), BD AutoShield Duo Pen Needle (passive mechanism), and BD Soloshot IX Auto-Disable 0.5 mL syringe among others.


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Passive safety syringes segment is projected to exhibit the highest CAGR of 12.6% over the forecast period. Global smart syringes market volume was estimated to be 10.6 billion units in 2015 and is expected to register a CAGR of 8.2% from 2015 to 2020. Within application, the drug delivery segment would continue to lead the market throughout the analysis period. Within end user, the psychiatric segment is projected to grow at the highest CAGR of 12.9% during the forecast period. Within end user, the hospitals segment is projected to continue maintain its lead position the market, accounting for two-seventh share of the overall market revenue by 2020. The Asia-Pacific region is anticipated to be the fastest growing market, registering a CAGR of 11.3% from 2015 to 2020. North America accounted for about three-seventh of the overall market revenue in 2015, and will continue to lead until 2020. 8.


Smart Syringes Market

North America Europe Asia-Pacific LAMEA


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New Revenue Pockets for the Smart Syringes Market  

Smart Syringes Market report provides an extensive analysis of the current and emerging trends, share and size and dynamics in the world sma...

New Revenue Pockets for the Smart Syringes Market  

Smart Syringes Market report provides an extensive analysis of the current and emerging trends, share and size and dynamics in the world sma...

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