According to the new market research report "Prefilled Syringes Market by Type [Conventional (Disposable, Reusable), Safety], Material (Glass, Plastic), Design (Single-Chamber, Dual-Chamber, Customized), Application (Diabetes, Cancer, Arthritis, Anaphylaxis, Ophthalmology) - Global Forecast to 2025", published by MarketsandMarkets™, is estimated to be USD 5.6 billion in 2020 and projected to reach USD 8.6 billion by 2025, at a CAGR of 9.0%. The Rising target disease population, rapid growth in generic products, rising adoption of self-medication and digitalization, affordable cost with increased efficiency, and technological advancements are the major factors driving the growth of the market. Furthermore, growing initiatives undertaken by leading market players to establish production facilities in both mature and developing markets are the key factors driving the growth of the prefilled syringes industry.
Browse and in-depth TOC on " Conventional Prefilled Syringes Industry"
104 - Tables
30 - Figures
149 - Pages
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The Prefilled Syringes Market includes major Tier I and II suppliers like Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), and West Pharmaceutical Services, Inc. (US), and Nipro Corporation (Japan). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Routine care for chronic diseases is an ongoing challenge amidst the global COVID-19 pandemic due to the change in routine care to virtual communication. Diabetes, chronic obstructive pulmonary disease, and hypertension were the most impacted conditions due to a reduction in access to care. Furthermore, currently, most global healthcare resources are focused on coronavirus disease (COVID-19), and this resource reallocation is expected to disrupt the continuum of care for patients with chronic diseases.
Increasing adoption of self-administered injectable drugs is expected to result in the segment occupying the majority of the industry share
The conventional Prefilled Syringes Market is estimated to have the largest market share by value. Growth of this segment can be attributed to the the advantages offered, such as safe administration, ease of use for both healthcare professionals and end users, reduced risk of contamination of the product, less waste of costly API, ease of manufacturing, improved dosing accuracy, and enhanced product differentiation when compared to vials is expected to drive the market growth.
By type, the safety prefilled syringes segment of prefilled syringes industry, is expected to grow at the highest CAGR during the forecast period
The safety prefilled syringes segment is expected to witness the highest growth during the forecast period primarily due to the rising geriatric population globally and availability of biological therapies for patients with chronic conditions and outsourcing of low-risk medical procedures for chronic patients alleviates some of the pressure on hospitals
Glass prefilled syringes is the largest material segment of the prefilled syringes industry
The glass prefilled syringes segment accounted for the largest share of the global industry in 2019. The large share of this segment is attributed to the significant benefits offered, such as prevention of oxygen and water vapor from interacting with drug compounds, compatibility with different filling machines, and seamless integration into pharmaceutical companies’ PFS operations.
Single-chamber prefilled syringes accounted for the largest share of the prefilled syringes industry, by design
The single-chamber prefilled syringes segment accounted for the largest share of the global industry in 2019. Market growth can largely be attributed to the significant advantages with the use of single-chamber prefilled syringes over vials, such as optimized API use with less overfill, reduced material requirements, less drug waste in clinical trials, and simple storage & disposal. Additionally, increasing adoption of self-administered parenteral drugs due to the increasing prevalence of chronic diseases and benefits offered by prefilled syringes
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Europe is estimated to be the largest market due to the rising prevalence of chronic diseases, growth of the biologics and biosimilars market, technological advancements, geographical expansion by key manufacturers, aging population, and high adoption of self-injection devices are driving the demand for self-injectable prefilled syringes.
Asia Pacific likely to emerge as the largest Prefilled Syringes Industry, globally
Asia Pacific is estimated to be the fastest-growing market for prefilled syringes during the forecast period. The Asia Pacific market is driven principally by the increasing demand for self-administered treatments, high penetration of self-injection devices, growing aging population, increasing prevalence of diabetes, and huge patient population.
Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), and West Pharmaceutical Services, Inc. (US) are the key players in the global Prefilled Syringes Market.
Prefilled Syringes Market Dynamics
Drivers
- Rising target disease population
- Rapid growth in generic products
- Rising adoption of self-medication and digitalization
- Affordable cost with increased efficiency of prefilled syringes
- Technological advancements
Restraints
- Dearth of prefilled syringes with integrated safety features
Opportunities
- Growing healthcare infrastructure across emerging markets
- Surge of biologics and biosimilars in biopharma industry
- Increasing adoption of wearable drug delivery technologies
Challenges
- Availability of cheaper alternatives
- Challenges associated with manufacturing of prefilled syringes
Recent Developments
- In October 2018, Becton, Dickinson and Company launched the BD Intevi 1mL two-step disposable autoinjector.
- In July 2020, Becton, Dickinson and Company entered into an partnership with Biomedical Advanced Research and Development Authority (BARDA) (US)
- In July 2018, Becton, Dickinson and Company acquired Teva Medical Inc. (US)
Key Market Players
Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (US), Baxter International Inc (US), Ompi (Italy), Catalent, Inc. (US), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), Elcam Medical (Israel), YPSOMED (Switzerland), Oval Medical Technologies (UK), SHL Medical AG (Switzerland), Terumo (Japan).
Report Link: ( Prefilled Syringes Market )
Report Objectives
- To define, describe, and forecast the prefilled syringes market by type, material, design, application, and region
- To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the market value of various segments and subsegments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players active in the global market and comprehensively analyze their global revenue shares and core competencies
- To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the global market
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