Europe is the Fastest growing market of Smart syringes

Publisher: The Insight Partners

Europe is the second largest geographic market and is expected to be the most significant revenue contributor throughout the forecast period. The region has witnessed several developments in the healthcare systems in the countries such as Germany, France, and Spain.

The growth is due to the rising awareness and government initiatives for transmission of infection through an unsafe injection in countries such as Italy and UK.

The global smart syringes market is expected to be US$ 5,911.82 Mn in 2018 and is predicted to grow at a CAGR of 10.6% during the forecast period 2019 - 2027, to reach US$ 14,341.33 Mn by 2027.

Smart syringes is having huge application in the field of vaccination, drug delivery and Blood Specimen Collection. Vaccination is an essential form of primary prevention and is used for administering the antigenic substance to produce immunity to a specific disease. The procedure stimulates the body to make antibodies against antigens of pathogens and improves resistance to a particular disease.

Several diseases like smallpox and polio have been successfully exterminated through the vaccination. Moreover, in India, the government has made vaccines to be compulsorily administered to the kids that protect from diseases such as, Diphtheria, Tuberculosis, Mumps, Pertussis, Measles, Polio, Typhoid, Hepatitis A & B, Rubella and Rotavirus

Company Profiles:-

• Retractable Technologies, Inc.
• AdvaCare Pharma
• Numedico Technologies Pty Ltd
• Gerresheimer AG
• Parker Hannifin Corp
• Becton, Dickinson and Company
• Cardinal Health
• B. Braun Melsungen Ag
• Terumo Corporation
• Baxter

The increasing rate of different diseases has increased the demand for smart syringes. The advancements in the field of syringes and needles have also increased the development of smart syringes. Many researchers and companies have developed innovative type of syringes. For instance, in October 2016, QuiO developed its real-time adherence monitoring solution, Smartinjector device, and connected software platform, which is a reusable handheld device loaded with a single-use syringe.

Many companies are focusing on needleless technologies in the market. The press-on patches technology has discovered to deliver medications through the outer layer of the skin. Also, tiny biobots, made up of jelly-like material, found that implanted under the skin and release medication via magnetic activation. The company named Retractable Technologies, Inc. offers VanishPoint syringe that is reliable, single-handed, and easy to use. Unlike traditional syringes, VanishPoint syringe exerts continued pressure on the syringe plunger that causes the needle to retract into the syringe irreversibly. This property helps in avoiding any further injury and further prevents syringe from being reused or reassembled. This manufacturing approach certifies the reliable high performance required by the U.S. Food and Drug Administration (FDA) and demanded by healthcare providers.

The global smart syringes market by type was led by Passive Safety Syringes, Active Safety Syringes, and Auto-Disable Syringes. In 2018, the segment held largest market share in the smart syringes market, by type. The segment is also expected to witness growth at a significant rate during the forecast period as it prevents the risk of serious infections such as hepatitis or human immunodeficiency virus (HIV) to healthcare workers.