Smart Syringes Market is Expected to Reach $7.6 Billion, Globally, by 2020
Summary
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.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.Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Intl: +1 (503) 505-6949 Toll Free: + 1-800-792-5285 (U.S. & Canada) E-mail: sales@alliedmarketresearch.com Portland, OR, February 27, 2016 --( PR.com )-- According to a new report by Allied Market Research, titled, “World Smart Syringes Market - Opportunities and Forecasts, 2014 - 2020,” global sales of smart syringes is projected to grow at a CAGR of 9.6% during 2015 – 2020.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.Key findings of the study:Passive safety syringes segment is projected to exhibit the highest CAGR of 12.6% over the forecast period.Global smart syringes market volume was estimated to be 10.6 billion units in 2015 and is expected to register a CAGR of 8.2% from 2015 to 2020.Within application, the drug delivery segment would continue to lead the market throughout the analysis period.Within end user, the psychiatric segment is projected to grow at the highest CAGR of 12.9% during the forecast period.Within end user, the hospitals segment is projected to continue maintain its lead position the market, accounting for two-seventh share of the overall market revenue by 2020.The Asia-Pacific region is anticipated to be the fastest growing market, registering a CAGR of 11.3% from 2015 to 2020.North America accounted for about three-seventh of the overall market revenue in 2015, and will continue to lead until 2020.The key companies profiled in the report include Becton, Dickinson and Company, Medtronic (Covidien), Terumo Medical Corporation, B. Braun Melsungen AG, Baxter International, Smiths Group plc, Unilife Corporation, Revolutions Medical Corporation and Retractable Technologies, Inc., and others.Contact:David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesIntl: +1 (503) 505-6949Toll Free: + 1-800-792-5285 (U.S. & Canada)E-mail: sales@alliedmarketresearch.com Contact Information Allied Market Research Deep Joshi 503 505 6949 http://www.alliedmarketresearch.com/ 5933 NE Win Sivers Drive, #205, Portland, OR 97220 United States Toll Free: +1 (855) 711-1555 (U.S. & Canada) Fax: +1 (855) 550-5975 Click here to view the list of recent Press Releases from Allied Market Research Promote Your Business Press Release Pricing Email this page to a friend