Smart Syringes Market Business Strategy, Development Status, Emerging Technologies, Future Plans and Trends by Forecast 2031

The smart syringes market size is projected to reach US$ 20.83 billion by 2031 from US$ 9.23 billion in 2023. The market is expected to register a CAGR of 10.68% during 2023-2031. The growing focus on patient safety and error reduction are likely to remain key trends in the market.

Smart Syringes Market Analysis
A sharps injury, also known as percutaneous injury, is an incident where the skin is penetrated unintentionally through the blade (such as a scalpel), syringe, needle, or other medical instruments. These medical instruments could cause an injury by pricking or cutting the skin. Sharps injuries are mainly linked to the occupational transmission of STDs. They have also been implicated in the transmission of more than 20 other pathogens. The rising incidences of sharp injuries increase the demand for smart syringes.

Smart Syringes Market Overview
As highlighted by the Centers for Disease Control and Prevention (CDC) in 2022, occupational exposure to bloodborne pathogens via sharp injuries results in ~ 385,000 needlesticks and other sharps-related injuries to hospital-based healthcare personnel annually. Smart syringes are designed to prevent needlestick injuries and reduce the risk of transmitting bloodborne diseases. Therefore, the high prevalence of bloodborne transmission, such as hepatitis B, C, and HIV, through improper injection practices increases the adoption of safe syringes, including smart syringes.

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Key Players Analysis:

• Retractable Technologies Inc
• AdvaCare Pharma
• Numedico Technologies Pty Ltd
• Gerresheimer AG
• Parker Hannifin Corp
• BD
• Cardinal Health
• B Braun Melsungen Ag
• Terumo Corporation
• Baxter

Smart Syringes Market Share Analysis by Geography

The geographic scope of the smart syringes market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.  Asia Pacific is expected to grow with the highest CAGR in the coming years.

The smart syringes market in North America is analyzed based on the three major countries: the US, Canada, and Mexico. The US is estimated to have a larger share of the North America smart syringes market in 2023. The growth in this region is characterized by increasing government programs and rising awareness about safe injection practices.

SEGMENTATION

The study conducts a SWOT analysis of each company to evaluate strengths and weaknesses. It also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Smart Syringes market segments and regions.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Smart Syringes Market based on various segments. It also provides market size and forecast with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Smart Syringes Market by each region is later sub-segmented by respective countries and segments.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

This release was published on openPR.