Smart Syringe Market Overview 2024: Size, Growth Drivers, and Major Segments
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
What is the Expected Growth Rate of the Smart Syringe Market for the Period 2024 to 2033?
The market for smart syringes has seen significant expansion in the past few years. The sector, valued at $10.32 billion in 2023, is expected to increase to $11.43 billion in 2024, marking a compound annual growth rate (CAGR) of 10.8%. Factors contributing to this growth during the historic period include the demand for medication safety, the widespread occurrence of blood-borne diseases, the need for regulatory compliance, worldwide immunization initiatives, and an overall increase in health awareness.
There is a prediction for a swift expansion in the smart syringe industry within the next couple of years. It is estimated to reach a worth of $17.23 billion in 2028, with a compound annual growth rate of 10.8%. The anticipated growth in the projection duration is due to various factors such as international vaccination endeavors, reduction of medication miscalculations, a surge in chronic illnesses, increase in home-based healthcare, along with government health schemes. Notable trends within the same projection timeframe consist of collaborations and associations, regulatory adherence, usage in vaccination drives, emphasis on eco-friendly materials, and upsurge in up-and-coming markets.
Claim Your Free Sample of the Global Smart Syringe Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10821&type=smp
What Factors Are Responsible for the Growth of the smart syringe Market?
The escalating occurrence of accidents involving needlesticks is anticipated to boost the expansion of the smart syringes market in the future. Needlestick injuries happen when a healthcare professional’s skin is accidentally punctured by a needle or other sharp medical instrument. Smart syringes have proven to be an invaluable tool in reducing these kinds of injuries and preventing the spread of bloodborne diseases such as HIV and Hepatitis B. These innovative syringes have built-in safety features like retractable needles which lessen the likelihood of accidental needle injuries and the subsequent transmission of illnesses. For example, a study conducted by Frontiers Media, a Switzerland-based scientific journals publisher, which surveyed 361 healthcare workers in Saudi Arabia in May 2022, revealed that the rate of needle stick injuries among physicians stood at 36%, and 34.8% among nurses in 2021. Moreover, 53.8% of these injuries were not reported to relevant authorities by the healthcare workers. Thus, the rising rate of needlestick injuries prompts the growth of the smart syringes market.
Which Segments Are Important for Insight into the Smart Syringe Market?
1) By Product: Auto-Disable Syringes, Active Safety Syringes, Passive Safety Syringes
2) By Age Group: Pediatrics, Adults
3) By Application: Drug Delivery, Vaccination, Blood Specimen Collection
4) By End Users: Hospitals And Health Maintenance Organizations (HMOs), Diabetic Patients, Family Practices, Psychiatrics, Other End Users
What Are the Significant Trends Reshaping the Smart Syringe Sector?
Introducing product innovations is emerging as a significant trend in the smart syringes market. To maintain their market standing, leading firms are launching inventive products like the Gx InnoSafe safety syringe. Notably, Gerresheimer, a drug delivery systems and packaging products manufacturer from Germany, unveiled the Gx InnoSafe safety syringe system in October 2021. This first-of-its-kind syringe boasts an incorporated passive safety system. The innovative design ensures that the needle gets safely lodged in an integrated sleeve post-use, effectively eliminating potential needle stick injuries. Moreover, it simplifies the filling process by eliminating the need for an additional assembly to fill the syringe.
Order Now for Fast Delivery of Your Smart Syringe Market Report!
https://www.thebusinessresearchcompany.com/report/smart-syringe-global-market-report
Which Regions Are Essential for the Growth of the Smart Syringe Market?
North America was the largest region in the global smart syringes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart syringe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Smart Syringe Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the smart syringe market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Smart Syringe Market Include
1. Smart Syringe Market Executive Summary
2. Smart Syringe Market Segments
3. Smart Syringe Market Size And Template Market Growth Rate
4. Key Smart Syringe Market Trends
5. Major Smart Syringe Market Drivers
……
25. Key Mergers And Acquisitions In The Smart Syringe Market
26. Top Smart Syringe Companies
27. Smart Syringe Market Opportunities And Strategies
28. Smart Syringe Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Tumor Embolization Devices Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/tumor-embolization-devices-global-market-report
Tumor Ablation Therapy Devices Global Market Report 2024
Glass Façade Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/glass-facade-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
