Smart syringes can be defined as medical devices that are engineered with safety mechanisms to prevent the reuse of syringes and regulate unsafe injection practices. They are equipped with features to avoid needlestick injuries in aperson who uses these syringes and prevent transmission of blood-borne diseases such as hepatitis C virus (HCV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). They cater to numerous applications that include vaccination, drug delivery, and blood specimen collection. Different types of smart syringes such as auto disable (AD) syringes, passive safety syringes, and active safety syringesare used depending on the nature of application. The most common types of smart syringes used across all healthcare sectors are active safety syringes, whereas auto-disable (AD) syringes are used popularly for vaccination.
The global smart syringe market was evaluated at $6,870.19 million in 2019, and is estimated to garner $14,185.45 million by 2027, registering a CAGR of 8.7% during the forecast period. Increase in count of needle stick injuries; high prevalence of blood-borne transmission such as hepatitis B, C, and HIV through improper injection practices; growth in adoption of safety syringes; and advancements in technology drive the market growth. In addition, mandatory recommendations by the WHO to switch to smart syringes, ensuring safe injection practices is the major factor that boosts the market growth. However, high cost associated with smart syringes, especially passive safety syringes, low awareness in developing economies, and alternative drug delivery methods are expected to impede the market growth. The global smart syringe market volume is projected to reach 28,078.73 units by 2027, and is projected to grow at a CAGR of 8.9% during the forecast period.
Volume of smart syringes to be used in coming years is expected to witness a sharp increase, owing to the COVID-19 immunization programs that are pre-planned across the world. COVID-19 infection has already proven its ability to create medical equipment shortages such as supply of gowns, face masks, and personal protective equipment (PPE) within early days of the pandemic. Thus, to overcome such supply chain issues, governments and organizations have already started syringe manufacturing and production, as they are one of the vital components of vaccine delivery. This demand for global vaccination against novel coronavirus is wholly prepared to propel smart syringe manufacturing throughout the pandemic phase.
Active Safety Syringes segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Product Segment Review
The product segment is categorized into auto disable (AD) syringes, active safety syringes, and passive safety syringes. The active safety syringe segment accounted for the highest revenue in 2019, owing to established market position. Furthermore, auto disable (AD) syringes are especially used for vaccination purposes and are designed specifically for single use, embedded with an internal mechanism that blocks the barrel once used, which prevents its further usage. Furthermore, as countries are getting ready for coronavirus vaccine, several companies across the globe are involved in manufacturing of safety syringes. For instance, in August 2020, Hindustan Syringes & Medical Devices Ltd. (HMD), confirmed that it has received an order of 140 million auto disable syringes for COVID-19 from the United Nations Children's Fund (UNICEF). The company is expecting to scale-up its AD syringes to 1 billion by first half of 2021. These factors collectively expected to boost growth of the smart syringe market during the forecast period.
Drug delivery segment is projected as one of the most lucrative segment.
Application Segment Review
Smart syringes are used across various applications, which include drug delivery, vaccination, and blood specimen collection. Among all its applications, the drug delivery segment is dominant, owing to its wide range of applications in therapeutics. In drug delivery, syringes are widely used to administer desired drugs (therapeutic) in patient’s body. Among various drug delivery modes, use of injections is advantageous as theyprovide good absorption. This causes lesser wastage of drugs (as compared to oral mode), short onset time, and accurate titration of dosage. Moreover, product launches for effective vaccination by pharmaceutical companies are expected to drive growth of the smart syringe market, by application. For instance, in July 2020, Sharps Technology, Inc., launched its product SHARPS PROVENSA smart safety syringes amid the pandemic for vaccinating U.S. population against COVID-19. The company is expecting to start its production from 4th quarter of 2020.
By Age Group
Adult segment was holding a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Age Group Segment Review
On the basis of age group, the smart syringe market is bifurcated into pediatrics and adults. Pediatrics is the most lucrative segment with the highest CAGR of 9.8%, owing to increase in number of pediatric populations, aged between 0 and 18 years, every year, as this age group is more vulnerable to transmitted infections. In 2014, in Cambodia, a group of more than 200 children and adults tested positive for HIV, owing to unsafe use of disposable syringes. As a result, in 2015, the WHO announced that every hospital and clinic should switch to smart syringes by the year 2020. Therefore, this initiative is estimated to increase demand for smart syringes among health care providers, which, in turn, boosts the market growth. Moreover, the COVID-19 pandemic is anticipated to augment the demand for smart syringes in the adults, aged above 60 years as they are more susceptible to infections and are at higher risk. Furthermore, government initiatives to immunize high-risk group on early basis is expected to boost growth of the adult segment in the future.
By End User
Hospitals & HMOs segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.
End User Segment Review
By end user, it is classified into hospitals & HMOs (Health Maintenance Organizations), diabetic patients, family practices, psychiatrics, and others.Hospitals & HMOs are the leading users of smart syringes for drug delivery, vaccination, and collecting blood samples. The Mayo Clinic, Johns Hopkins Hospital, UCLA Medical Center, and Cleveland Clinic are some hospitals that use smart syringes. Although, these hospitals were late in adopting these syringes, they have recently increased and mandated use of smart syringes after the WHO recommendations for prevention of needle sick injuries. In addition, hospitals and HMO's are consistently collaborating with smart syringemanufacturers, distributors, and organizations across all hospitals & HMOs.
North America was holding a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Region segment review
North America constituted highest market share of the smart syringe market in 2019, followed by Europe and Asia-Pacific. It accounted for about 42.3% share, owing to large adoption of safety syringes, owing to rise in awareness associated with needle stick injuries, coupled with continual improvements in healthcare practices in healthcare centers across the region. Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to rise in private and public healthcare expenditures and growth in responsiveness toward the risk of unsafe use of syringes.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current smart syringe market trends and forecast estimations from 2019to 2027, which assists to identify prevailing market opportunities.
- An in-depth smart syringe market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the global smart syringe market is provided.
- Region-wise and country-wise smart syringe market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future smart syringe market potential from2020 to 2027, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the smart syringe market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of global smart syringe market.
Smart Syringe Market Report Highlights
By AGE GROUP
By END USER
Key Market Players
REVOLUTIONS MEDICAL CORPORATION, GERRESHEIMER AG, CARDINAL HEALTH, INC., NIPRO CORPORATION, MERIT MEDICAL SYSTEMS, INC., BECTON, DICKINSON, AND COMPANY, SMITHS GROUP PLC., B. BRAUN MELSUNGEN AG, TERUMO CORPORATION, RETRACTABLE TECHNOLOGIES, INC.
Popularity of smart syringes is expected to witness a significant increase in the coming years, owing to replacement of traditional syringes with smart syringes to avoid needle stick injuries and cross infections of diseases such as HIV AIDS and hepatitis. Moreover, introduction of novel vaccine candidates against COVID-19 in the market is anticipated to drive the market growth throughout the pandemic phase.
The active safety syringes dominated the market in 2019, and is projected to experience growth in the future. The International Organization for Standardization (ISO) and the World Health Organization (WHO) have formulated safety standards for commercial use of safety syringes. These regulations also help determine specifications and minimum standards for safety syringes. According to KOLs, stringency of rules and regulations regarding the use of safety syringes varies in different regions. In developed regions, rules are stricter and any non-compliance to regulations regarding work safety is expected to lead to heavy fines imposed by regulatory bodies. The well-structured regulations for smart syringes lead to large-scale adoption of smart syringes in North America and Europe. In addition, these syringes are adopted on the basis of various applications such as drug delivery, vaccination, and blood sample collection.
In developing and underdeveloped regions such as Asia-Pacific and LAMEA, stringency of work safety rules is not high and adoption rate of smart syringes is less compared to its developed counterparts. However, increase in severity of rules and regulations, coupled with increase in awareness regarding needle stick injuries in these regions are expected to fuel growth of the smart syringes market.
The global smart syringes market is expected to grow at a rapid pace during the forecast period, owing to increase needle stick injuries, high prevalence of blood borne disease transmission such as hepatitis B, C, and HIV through improper injection practices, growth in adoption of safety syringes, and advancements in technology. Furthermore, mandatory recommendations by the WHO to switch to smart syringes to enable safe injection practices also boost the adoption of smart syringes, which, in turn, fosters growth of the smart syringes market.