Smart Syringes Market Is Predicted To Grow Swiftly Due To Increasing Prevalence Of Various Target Diseases Till 2024: Grand View Research, Inc.
The global smart syringes
market is expected to reach USD 10.2 billion in 2024, according to
a new report by Grand View Research, Inc. In 2015, Some key factors driving the
market include the rise in the patient population, the increasing number of
needle stick injuries, and the spread of diseases due to unhygienic injection practices.
The injection practices and
healthcare delivery standards are not uniform across the globe. The use of
disposable syringes has been strongly advocated by various healthcare
organizations across different countries; however, adherence to the patient
safety guidelines is not adequately implemented in the LMIC (Low and Middle
Income Countries).
As per the WHO records, the
re-usage of syringes has boosted the infection cases of Ebola, malaria, Marburg
virus, HIV, hepatitis, and other diseases in LMIC; these countries have been
suffering with a huge infectious diseases burden due to the high transmission
rates of blood-borne virus infections. Increasing awareness regarding the usage
of smart syringes with safety mechanisms amongst the patients and the
healthcare providers is anticipated to fuel the expansion of the smart syringes
market over the forecast period.
As per the data published by the
U.S. Occupational Safety and Health Administration (OSHA), nearly 5.6 million
workers in the healthcare sector are at a high risk of occupational exposure to
blood-borne pathogens, mainly on account of needle stick injuries and other
metal injuries. The data also indicates that on an average 1,000 injuries occur
per day in the U.S. hospitals, which translates to 385,000 needle stick and
other injuries per year.
Some previously reported
outbreaks due to the re-use of syringes include the following:
- In 2007, hepatitis C outbreak in Nevada, U.S.
- In 2009, more than 400 people were infected with
Hepatitis B in Gujarat, India
- In 2014, a group of more than 200 people(children and
adults) living near Battambang, Cambodia, tested positive for HIV
Hence, in order to improve the
healthcare outcomes and reduce the burden of infections, the healthcare
practitioners and hospitals are expected to adopt the usage of smart
syringes,which would significantly boost the smart syringes market over the
forecast period.
North America smart syringes
market, by product, 2013 - 2024, (USD Million)
Browse full research report on
Smart Syringes Market
Further key findings from the
report suggest:
- In 2015, the
auto-disable syringes segment dominated the smart syringes market with
revenue of over USD 3.0 billion. The established presence of the
auto-disable syringes in the market is one of the crucial reasons for its
high share.
- The passive
safety syringes segment is expected to emerge as the fastest growing
market during the forecast period
- North America
accounted for the largest share in 2015 on account of very high healthcare
standards, the presence of well-developed hospital and primary healthcare
networks, high patient awareness, and the rising demand for sophisticated
drug delivery techniques.
- Asia Pacific
is identified as the most lucrative market. Increase in the disease
burden, the rising population levels, and the growing demand for
vaccination are the key market drivers in this region. Furthermore, high
investments to improve the patient care services and to curb the risk of
needle stick infections are expected to spur the smart syringes market
over the forecast period.
- Some key
players of the market include Medtronic Plc (Covidien), Terumo Medical
Corporation, Braun Melsungen AG, Unilife Corporation, Becton, Dickinson
and Co., Revolutions Medical Corporation, Baxter International, Inc.,
Retractable Technologies, Inc., and Smiths Group plc.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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