Smart Syringe Market, by Product Type (Auto-disable Syringes, Active Safety Syringes, and Passive Safety Syringes), by Application (Vaccination, Drug Delivery, and Blood Specimen Collection), by End User (Hospitals & Clinics, Diagnostic Laboratories, and Homecare Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Sep 2023

Code : CMI4394

Pages :210

Formats :

Excel and PDF

Industry : Medical Devices

Smart Syringe MarketSize and Trends

The global smart syringe market is estimated to be valued at US$ 10.11 Billion in 2023 and is expected to exhibit a CAGR of 11.3% during the forecast period (2023-2030).

Global Smart Syringe Market Segmentation:

The global smart syringe market report is segmented by product type, by application, by end user and by region.

By product type, the market is segmented into auto-disable syringes, active safety syringes, and passive safety syringes. Out of which, auto-disable syringes is expected to hold a dominant position in the global smart syringe market during the forecast period, and this is attributed to the increasing inorganic growth strategies such as partnerships.
By application, the market is segmented into vaccination, drug delivery, and blood specimen collection. Out of which, vaccination is expected to dominate the market over the forecast period, and this is attributed to increasing organic growth strategies such as product launches and approval.
By end user, the market is segmented into hospitals & clinics, diagnostic laboratories, and homecare settings. Out of which, hospitals & clinics are expected to dominate the market over the forecast period, and this is attributed to the increasing use of smart syringe in hospitals.
By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Out of which, North America is expected to dominate the market over the forecast period, and this is attributed to increasing inorganic growth strategies such as acquisition.
Among all the segmentation, the product type segment is expected to dominate the market over the forecast period, and this is attributed to the increasing demand for smart syringes in the market. Manufacturers have increased their production capacities to meet the rise in demand and to meet expectations. For instance, in July 2021, according to the World Health Organization (WHO), around 900 million people were vaccinated using disposable syringes in India. Therefore, there is an increase in the demand for disposable syringes, which boosts the growth of the global smart syringes market.

Global Smart Syringe Market: Cross Sectional Analysis:

Key players in the market are focusing on organic growth strategies, such as product approval by regulatory authorities, which is expected to boost demand for the global smart syringe market in the Asia Pacific region. For instance, in January 2022, Owen Mumford Pharmaceutical Services, a division of Owen Mumford, a medical device company, announced that its UniSafe 1 mL safety device for pre-filled syringes has been approved as a combination product in the Asia Pacific region by Europe regualtory authorities. UniSafe 1mL is a safety device for prefilled syringes that provides a variety of benefits.