Global Prefilled Syringes Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 11.3% during a forecast period.
Global Prefilled Syringes Market
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(The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.)
Global Prefilled Syringes Market Definition
Pre- filled syringes have developed as one of the quickest-growing selections for unit dose medication as the pharmaceutical industry look for new and greater convenient drug delivery methods. Pre- filled syringes make injections easier and safer for each doctors and patients. The rising the wide variety of product approvals by means of regulatory is augmenting the global prefilled syringes market growth. The plastic prefilled syringes segment is expected to grow at a CAGR of 12% for the duration of the forecast duration. Europe is presently leading the global market attributable to the developing demand for prefilled syringes in the region.
Global Prefilled Syringes Market Dynamics
The fast-paced development of characteristic-rich devices with underlying technological improvements allowing safer and handy self-injections is predicted to boost the market growth at some point of the forecast period. Prefilled syringes assist healthcare practitioners in saving time and devices. Furthermore, they assist to reduce the manual and device-based measuring errors and wastage of active pharmaceutical ingredients whilst shifting solutions from vials to syringe. The primary organizations inside the field are trying to broaden advanced substances which are disposable, recyclable, and appropriate for holding injectable drugs. This factor is anticipated to enhance market growth inside the close to destiny.
Moreover, the growing the wide variety of product approvals by means of regulatory is enhancing the global prefilled syringes market growth. For example, in June 2019, Ipsen Biopharmaceuticals, Inc. introduced that the U.S. FDA has authorized its new pre- filled syringe, Somatuline Depot (lanreotide). The syringe includes larger flanges which are designed to make the administration of injections less difficult for healthcare companies.
There are several harmful diseases which encompass Hepatitis B which can be spread via the use of unsafe syringes. According to the World Health Organization, in 2017, Hepatitis B accounted for 21.7 million new infections every year owing to harmful injections. Acceptance of prefilled syringes can facilitate safety due to the presence of retractable needles that get rid of the threat of needle-stick injuries.
On the opposite hand, the regulated production of plastic syringes is hard the marketplace growth. The destructive consequences of plastic products on the environment are also restraining the acceptance of these devices
Global Prefilled Syringes Market Segment analysis
Based at the Material, the plastic prefilled syringes segment is projected to grow at a CAGR of 12% for the duration of the forecast duration. Plastic prefilled syringes are anticipated to witness faster boom within the market throughout the forecast period. This may be attributed to the advent of advanced polymers, consisting of polypropylene and crystal-clean polymer, as those are biocompatible with other components of the prefilled syringes.
Single-chamber prefilled syringes in terms of design held the major share within the prefilled syringes marketplace in 2019, attributed to extensive availability and growing usage, across the globe. The single-chamber segment accounted for greater than USD 3.5 billion in revenue in 2018 and it is expected to see healthy growth over the forecast duration. Single chambered prepopulated syringes are sterile major drug container its sophisticated design facilitates drug delivery system. Besides, single-chamber prefilled syringes provide safety to patients and clinicians from needle stick injuries in an effort to enhance the demand.
Additionally, simple storage and easy usage related with a single chamber design will boom its preference over the forecast length, so proving useful for the marketplace growth. The diabetes class is anticipated to be the quickest-growing utility place inside the prefilled syringes market for the duration of the forecast duration, usually owing to the growing occurrence of diabetes through the world.
Global Prefilled Syringes Market Regional analysis
Europe is predicted to lead the worldwide prefilled syringes marketplace during the forecast period. Europe is presently leading the global market attributable to the developing demand for prefilled syringes in the region. Besides, the robust presence of important market players including Gerresheimer AG, Schott Group, and Owen Mumford Ltd. is anticipated to increase the region’s growth. The European Board of Anaesthesiology recommends the use of prefilled syringes for anaesthesia. A growing variety of surgeries owing to several factors and earlier approval procedures through numerous regulatory authorities are the factors predicted to impel the Europe regional market.
For instance, Novartis, in September 2018, received FDA approval for their Xolair (omalizumab) prefilled syringe. The Prefilled syringe drug is approved for allergic asthma and chronic idiopathic urticaria indications. Similarly, W. L. Gore & Associates, Inc. (“Gore) plans to commercially launch the GORE ImproJect Plunger for Prefilled Syringes by 2018.
The Asia Pacific market is expected to develop at a worthwhile throughout the forecast period. Promptly developing economies, which includes India and China, and the obtainability of untapped growth opportunities, are the key factors fueling the region’s enlargement. Besides, a huge affected patient populace and the developing occurrence of many chronic diseases are anticipated to propel the sector growth in the region.
Recent industry developments
- In June 2019- Fresenius Kabi introduced neostigmine methylsulfate injection, USP Simplist prefilled syringe in the U.S. Expansion of product portfolio in new geographical area will enable company to capture more market share and sustain in the industry competition.
- In 13 Aug 2019 – Regeneron has made chemistry, manufacturing, and controls prior-approval supplement for the Eylea injection prefilled syringe that has been approved by the USFDA.
The objective of the report is to present a comprehensive analysis of the Global Prefilled Syringes Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Prefilled Syringes Market dynamics, structure by analysing the market segments and projects the Global Prefilled Syringes Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Prefilled Syringes Market make the report investor’s guide.
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Global Prefilled Syringes Market, By Material
Global Prefilled Syringes Market, By Design
- Single-chamber Prefilled Syringes
- Dual-chamber Prefilled Syringes
- Customized Prefilled Syringes
Global Prefilled Syringes Market, By Therapeutic
- Large Molecules
- Small Molecules
Global Prefilled Syringes Market, By Application
- Rheumatoid Arthritis
- Others (Cancer, Multiple Sclerosis, and others)
Global Prefilled Syringes Market, By Regions
- North America
- South America
- Middle East and Africa (MEA)
Key Players operating the Global Prefilled Syringes Market
- Becton, Dickinson and Company
- Catalent, Inc.
- MedPro Inc.
- Nipro Corporation
- Owen Mumford
- SCHOTT AG
- Terumo Medical Corporation
- Unilife Corporation
- Vetter Pharma International GmbH
- Weigao Group
- West Pharmaceutical Services, Inc.
- Ypsomed Holding AG
- Baxter International Inc
- Elcam Medical
- Oval Medical Technologies
- SHL Medical AG
- Cardinal Health
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