The smart syringes market in Europe is expected to progress at a CAGR of 7.29% from 2022 to 2027, and the market size is estimated to be worth USD 3.74 billion by 2027 from USD 2.63 billion in 2022.
The growing pediatric population across Europe drives the European smart syringes market growth. The pediatric population is more prone to infectious diseases, which may lead to several other chronic diseases upon infection from a syringe during vaccination. The pediatric population refers to children under the age of 16, which includes infants and children. In addition, most children may experience fear and anxiety if vaccines are administered through syringes which may lead to the misplacement of the syringes on the body and result in injuries. All these drawbacks can be avoided by using smart syringes due to their advanced functionality and reduced risk of injuries to children.
The rising incidence of needle stick injuries to healthcare providers and patients propels the European smart syringes market growth. Yearly, approximately 1.2 million healthcare staff suffer from needle stick injuries, raising the adoption of smart syringes in the healthcare sector. The healthcare system takes several preventive measures to reduce these types of injuries among hospital staff.
Furthermore, the increasing awareness regarding the need for safe and hygienic treatment among people due to increasing cases of people suffering from infectious diseases is promoting the growth rate of the European smart syringes market. Due to the impact of the COVID-19 pandemic, people are adopting a healthy lifestyle and quality treatment. Therefore, they prefer to use clean and virus-free equipment and syringe to prevent the coronavirus spread. Therefore, key players are focusing on manufacturing advanced syringes like smart syringes with low cost to increase their demand.
However, the high costs associated with smart syringes are one of the major factors hampering the European market growth. In addition, the lack of approvals for advanced syringes and the scarcity of skilled professionals are inhibiting the growth of the European smart syringes market.
This research report on the Europe smart syringes market has been segmented and sub-segmented into the following categories:
By Product:
By Application:
By End User:
By Country:
Geographically, the European region accounted for the second largest share of the worldwide market in 2021 and is anticipated to grow at a promising CAGR during the forecast period owing to the increasing healthcare expenditure and rising awareness regarding the benefits associated with smart syringes. World Health Organization (WHO) suggests having injections administered directly into the muscles or skin through disposable smart syringes, which are only used once and help reduce the spreading of infection.
During the forecast period, the German market is anticipated to hold a considerable share of the European market. German government increased its investments in developing a smart syringes vending machine placed in a few areas in Germany; the vending machines can dispense smart syringes in exchange for money at any time. Additionally increasing availability of smart syringes in every medical shop and their availability on online sites drives the market demand in this region. German researchers also focus on developing dosage control syringes that reduce the errors that occur while administering the medicines to prevent severe effects caused due to low and high doses. For this project, the country's researchers started manufacturing prefilled safety syringes with multiple applications, like for older people affected by eye problems.
On the other hand, the UK market is predicted to showcase a healthy CAGR in the coming years. Owing to the increasing HIV disease in the United Kingdom, the adoption of smart syringes is growing, which reduces the transmission of disease between people and healthcare workers. In addition, the increasing demand for minimal invasion surgeries among many people is one of the major factors driving the UK market growth.
KEY MARKET PLAYERS:
Companies such as BD, Gerresheimer AG, Baxter, Terumo Corporation, B. Braun Melsungen AG, AdvaCare Pharma, Cardinal Health, Parker Hannifin Corp., Numedico Technologies Pty Ltd, and Retractable Technologies, Inc. are playing a noteworthy role in the European smart syringes market.
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