Smart syringes The market is expected to grow at a CAGR of 10% from 2016-2021, owing to increasing number of diseases and infections transmitted due to improper and unsafe injection practices. Rising cases of chronic diseases and increasing geriatric population are also factors responsible for growth of Smart Syringes market. In addition, the WHO policy for worldwide shift to smart, self destructing syringes from traditional ones is the most important driving factor for the market. However, high costs of smart syringes and lack of awareness, especially in developing nations act as inhibiting factors for market growth. Moreover, large pharmaceutical companies have to incur high costs in order to adopt smart syringes, as they need to retool their supply chain of conventional syringes.
North America is expected to dominate the market during the forecasted period attributed to high level of awareness about smart syringes and availability of sophisticated healthcare infrastructure in this region. However, APAC is estimated to be the fastest growing market owing to increasing healthcare expenditure and government initiatives to curb unsafe injection practices and prevent blood borne transmissions. Moreover, efforts by WHO and various governments together are also boosting market growth.
The key players in the global Smart Syringes market profiled in this report include Becton, Dickinson And Company, B. Braun Melsungen Ag, Baxter International Inc., Medtronic, Merck & Company Inc., Parker Hannifin, Retractable Technologies, Inc., Revolutions Medical Corporation, Smiths Group Plc, Star Syringe, Terumo Medical Corporation and Unilife Corporation.
The market is segmented by product, applications, end users and geography. The market segmentation on the basis of product include active safety syringe, passive safety syringe and auto disable syringe. On the basis of applications, the market is segregated into drug delivery, vaccination and blood sample collection. Segmentation on the basis of end users include hospitals and clinics, physicians, diabetes patients, psychiatrists and others. The market is segmented on the basis of geography which includes North America, Europe, APAC and RoW.
OMR Report covers:
- Comprehensive research methodology of Global Smart Syringes Market.
- This report also includes detailed and extensive market overview with gap analysis, historical analysis & key analyst’s insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Smart Syringes Market.
- Insights about market determinants which are stimulating the Global Smart Syringes Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues
- Extensive profiles and recent developments of market players