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.
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Further key findings from the study 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.
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About
Grand View Research:
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, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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