Smart syringes can be classified in three categories, auto-disabled syringes (widely used for vaccination drives), Active Safety Syringes (the hypodermic protection is activated by the user), and Passive Safety Syringes (retract automatically after the use).
Smart syringes cater to various applications including drug delivery, vaccination, and blood specimen collection. Moreover, increasing demand for blood donations is also fuelling growth of the smart syringe market. For instance, according to the World Health Organization (WHO), 112.5 million blood donations were collected globally every year and there is an increase of 10.7 million blood donations from unpaid donors reported from 2008 to 2013. Furthermore, according to the American National Red Cross, around 7,000 units of platelets and 10,000 units of plasma are required daily in the U.S. and nearly 21 million blood components are transfused each year in the U.S.
Market Dynamics
Major factor driving growth of the smart syringe market include increasing launches of new products in the market and technological advancements in the smart syringes. For instance, on July 06, 2020, Sharps Technology, Inc., a provider of smart safety syringes, announced that the company has received approval from the U.S. Food and Drug Administration (FDA) for SHARPS PROVENSA smart safety syringes and is planning to commence the production in fourth quarter of 2020. SHARPS PROVENSA is designed with a propriety shield to cover the needle point making the syringe incapable of reuse and eliminating accidental needlestick injuries.
Similarly, on October 06, 2020, Gerresheimer AG, announced that the company will offer its Gx RTF syringes with a twist-off closure system, SG ITC (Integrated Tip Cap). The new system offers syringe closure with more stability providing extra protection to the drug product.
Key features of the study:
- This report provides in-depth analysis of the global smart syringe market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2020–2027), considering 2019 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global smart syringe market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
- Key companies covered as a part of this study include Becton, Dickinson and Company, Gerresheimer AG, Sharps Technology, Inc., Cardinal Health, lomMedical, MHC Medical Products, Sol-Millennium Medical Group, UltiMed Inc., Vogt Medical, Retractable Technologies, Inc., DMC Medical Limited, BIOCORP, Hindustan Syringes & Medical Devices Ltd, and Owen Mumford Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global smart syringe market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart syringe market
Detailed Segmentation:
- Global Smart Syringe Market, By Product Type:
- Global Smart Syringe Market, By Application:
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- Global Smart Syringe Market, By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- Global Smart Syringe Market, By Region:
- North America
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country:
- Latin America
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type
- Auto-disable Syringes
- Active Safety Syringes
- Passive Safety Syringes
- By Application
- Vaccination
- Drug Delivery
- Blood Specimen Collection
- By End User:
- Hospitals & Clinics
- Diagnostic Laboratories
- Homecare Settings
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Becton, Dickinson and Company*
- Company Overview
- Material Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- Gerresheimer AG
- Sharps Technology, Inc.
- Cardinal Health
- lomMedical
- MHC Medical Products
- Sol-Millennium Medical Group
- UltiMed Inc.
- Vogt Medical
- Retractable Technologies, Inc.
- DMC Medical Limited
- BIOCORP
- Hindustan Syringes & Medical Devices Ltd
- Owen Mumford Ltd
“*” marked represents similar segmentation in other categories in the respective section.
