Smart Syringes Market is Expected to Reach $7.6 Billion, Globally, by 2020 - Driven by Rising Count of Needle Stick Injuries

Feb 19, 2016, 09:10 ET from Research and Markets

DUBLIN, Feb. 19, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/6cmdz7/world_smart) has announced the addition of the "World Smart Syringes Market - Opportunities and Forecasts, 2014 - 2020" report to their offering.

The world smart syringes market was evaluated at $4.8 billion in 2015, and is estimated to garner $7.6 billion by 2020, registering a CAGR of 9.6% over the forecast period. Active safety syringes segment accounted for two-third of the market revenue in 2015, and would remain dominant throughout the analysis period.

The world smart syringes market is driven by the rising count of needle stick injuries, shift from conventional syringes to smart syringes, growing awareness in the emerging economies, and widespread adoption of safety syringes across all applications, especially in drug delivery. In addition, growing mandatory regulations laid by WHO about the use of smart syringes is further expected to boost the market growth. However, high cost associated with smart syringes and alternative drug delivery methods are likely to hamper the market growth.

The drug delivery/curative segment is expected to generate the highest revenue throughout the analysis period. This is attributed to the high demand for smart syringes for diabetes treatment, growing popularity of passive safety syringes, and higher risk of the transmission of hepatitis B, C, & HIV during injection and rising adoption of safety syringes among doctors. In addition, stringent regulations laid by WHO and UNICEF mandating the use of smart syringes for drug delivery is likely to drive the market growth in future.

Furthermore, blood specimen collection is projected as the fastest growing segment over the forecast period. This is due to the rising count of accidental needle stick injuries during blood collection, increasing cases of cross-infections such as HIV and growing awareness about safety syringes in developing economies.

Companies Mentioned:

  • B. Braun Melsungen AG
  • Baxter International
  • Becton
  • Dickinson and Co.
  • Medtronic Plc (Covidien)
  • Retractable Technologies
  • Revolutions Medical Corporation
  • Smiths Group plc
  • Terumo Medical Corporation
  • Unilife Corporation

Key Topics Covered:

CHAPTER 1 - Introduction

CHAPTER 2 - Executive Summary

CHAPTER 3 - Market Overview

CHAPTER 4 - Market by Type

CHAPTER 5 - Market by Application

CHAPTER 6 - Market by End Users

CHAPTER 7 - Market by Geography

CHAPTER 8 - Company Profiles

For more information visit http://www.researchandmarkets.com/research/6cmdz7/world_smart

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SOURCE Research and Markets



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