Smart syringes are designed to prevent the syringe from being used more than once and to protect the person administering the injection. The use of same needle or syringe to administer injection in more than one person is leading to rapid spread of deadly infections across the world. This led to the development of smart syringes for process safety & highest precision and has become an integral part of the healthcare system.
Deadly infections spreading at a rapid rate due to unsafe injection practices and rise in the application of smart syringes in vaccination are the key factors that are boosting the growth of the global smart syringe market. Further, owing to the current Covid-19 pandemic situation, there is boom in vaccination programs and rise in blood tests which are equally contributing to the growth of the market. In addition to this, rise in healthcare expenditure, growing need for lower chances of needlestick injuries, and rise in initiatives from local government & WHO to surge the use of smart syringes are also the key factors that are fueling the market growth. Moreover, to curb the hospital-acquired infections, smart syringes are been used widely. Furthermore, initiatives to expand the market in the low and middle-income countries may lead to lucrative opportunities for the growth of the global smart syringe market during the forecast period.
The global smart syringe market is categorized based on type, application, end-user, and region. Active safety syringes, passive safety syringes, and auto-disable syringes are the types of smart syringes based on which the global market is been classified. The smart syringe has a wide range of applications in blood specimen collection, vaccination, and drug delivery. The end-user of the global smart syringe market includes homecare settings, diagnostic laboratories, hospitals & clinics, and others.
Among the regions, North America is estimated to be the highest revenue generating region in the global smart syringe market during the forecast period. Increase in hospital-acquired diseases due to unsafe injection practices, growing adoption of smart syringes in hospitals & diagnostic centers, and growing awareness regarding needlestick injuries are the prime aspects that are increasing the revenue of the market in this region. The market in Asia Pacific region is anticipated to be the fastest growing owing to the growing initiatives of the government to restrain the spread of infections caused due to reuse of needles, rise in shift towards use of smart syringe, and growing investment in development of healthcare infrastructure.
Becton, Dickinson & Company, Hindustan Syringes & Medical Devices Ltd, UltiMed Inc., Sol-Millennium Medical Group, MHC Medical Products, lomMedical, Cardinal Health, Credence Companion, Gerresheimer AG, and Braun Melsungen AG are some of the prominent players of the global smart syringe market.
The Credence Companion and the Phillips-Medisize smart electronic autoinjector pair the right modernizations to create a dominant synergy that capitalizes on key collaborations between two well-suited technologies: the Companion® Safety Syringe System and the Re-usable Connected Autoinjector Platform.