Prefilled syringes are pre-packaged, pre-filled, and ready-to-use syringes that contain a predetermined amount of medication. These syringes are usually used for a variety of medical purposes, such as administering vaccines and injections, and are typically made of glass, plastic, or rubber. Prefilled syringes are convenient and easy to use, and they can help reduce the risk of medication errors, as the exact amount of medication is already pre-measured. Additionally, since the syringes are pre-sterilized, there is no need for further sterilization prior to use.
Currently, prefilled syringes market size is projected to reach USD 8.6 billion by 2025, at a CAGR of 9.0% during the forecast period. growth in the prefilled syringes market is majorly driven by the rising demand for prefilled syringes is attributed to the growing prevalence of chronic diseases, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations). In addition, growing awareness on the benefits of prefilled syringes among patients and healthcare professionals, along with the growing number of biologics and biosimilars in the pharmaceuticals market, is supporting the growth of the prefilled syringes market.
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Market Growth Dynamics:
- Rising target disease population
- Rapid growth in generic products
- Rising adoption of self-medication and digitalization
- Affordable cost with increased efficiency of prefilled syringes
Market Growth Opportunities
- Growing healthcare infrastructure across emerging markets
- Surge of biologics and biosimilars in biopharma industry
- Increasing adoption of wearable drug delivery technologies
Market Challenges
- Availability of cheaper alternatives
- Challenges associated with manufacturing of prefilled syringes
The prominent players operating in the Prefilled syringes market are 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).
Becton, Dickinson and Company (US) held the leadership position in the global prefilled syringes market with a share of 37.2% in 2019. The company’s dominant position in this market can be attributed to its broad product portfolio of prefilled syringes, strong geographical presence, and wide customer base. The company primarily focuses on the strategy of product launch.
Gerresheimer (Germany) held the second position in the global prefilled syringes market, with a share of 13.3% in 2019. The company’s customer base includes a large number of global blue chip pharmaceutical and healthcare companies (Sanofi, Bayer, AstraZeneca, Novo Nordisk, Johnson Johnson, and Novartis). To maintain its position in the market, the company focuses on the strategies of product launches and partnerships.
SCHOTT AG (Germany) held the third position in the market with a share of 10.7% in 2019. Over the past three years, the company adopted geographical expansions and product launches as its key business strategies.
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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 micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall prefilled syringes 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 prefilled syringes market and comprehensively analyze their global revenue shares and core competencies2
- To track and analyze competitive market-specific developments such as product approvals commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the prefilled syringes market
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)
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