According to the research report titled ‘Global Smart Syringe Market Size study, by Product (Auto Disable Syringes, Active Safety Syringes and Passive Safety Syringes), by Application (Drug Delivery, Vaccination and Blood Specimen Collection), by Age Group (Pediatrics and Adults), by End User (Hospitals & HMOs, Diabetic patients, Family practices (Physicians) , Psychiatrics and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global smart syringe market was assessed at USD 6.8 billion in 2019 and is projected to accumulate USD 14.1 billion by the year 2027, growing at a yearly rate of 8.7% throughout.
 

Rise in cases of needlestick injuries, increasing product awareness, and growing technological developments are key factors proliferating global smart syringe market growth. As per the World Health Organization, 2 million healthcare workers suffer from needlesticks injuries every year.
 

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For the unversed, smart syringes are medical equipment having safety mechanisms to reduce unsafe injection practices. They can be reused and are capable of preventing transmission of blood-borne viruses like HIV, Hepatitis C, and Hepatitis B, and avert needlestick injuries.
 

The report cites that strategic moves made by leading companies like product launches, alliances etc. also facilitate global smart syringe industry expansion. Citing an instance, Becton Dickinson & Company (BD) partnered with Biomedical Advanced Research & Development Authority (BARDA) in July 2020 to increase manufacturing capacity and deliver more than 100 million needles & syringes.
 

On the other hand, alternative methods of drug delivery, costly nature of safety syringes, and unaffordability for general public will barricade the expansion of global smart syringe market.
 

Based on product ambit, worldwide smart syringe industry is divided into passive safety syringes, auto-disable syringes, and active safety syringes. Speaking of application scope, the market is bifurcated into vaccination, drug delivery, and blood specimen collection. According to age group, the industry is classified into adults, and pediatrics. Moving on to end users, the marketplace is segregated into diabetic patients, hospitals & HMOs, family practices (physicians), psychiatrics, and others.
 

Elaborating regionally, North America accounted for majority of global smart syringe market share in the recent past. Improvement in health-care practices, growing awareness about needlestick syringes, and increasing usage of safety syringes are key factors boosting the regional market scenario.
 

Key players profiled in the report are Nipro Corporation, Smiths Group plc, Becton Dickinson & Company (BD), Terumo Corporation, B. Braun Melsungen AG, Merit Medical Systems Inc., Revolutions Medical Corporation, Cardinal Health Inc., Retractable Technologies Inc., and Gerresheimer AG.