The Global Prefilled Syringes Market in terms of revenue was estimated to be worth $5.6 billion in 2020 and is poised to reach $8.6 billion by 2025, growing at a CAGR of 9.0% from 2020 to 2025. Growth in the global 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 global market.
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Market Dynamics
Driver: Rising target disease population
Prefilled syringes are mainly used for the treatment of chronic conditions, such as heart diseases, diabetes, and autoimmune diseases, which require patients to self-administer medications. As a result, the increasing incidence and prevalence of chronic and lifestyle diseases across the globe is a major factor contributing to the growth of the prefilled syringes market. Moreover, there is a growing demand for self-injection devices, considering the convenience and safety associated with their use.
Restraint: Dearth of disposable prefilled syringes with integrated safety features
Prefilled syringes provide greater patient safety by reducing the potential for inadvertent needle sticks and exposure to toxic products that can occur while drawing medication from vials. However, a significant number of needle stick injuries are associated with the use of bare prefilled syringes as compared to the ones that have integrated safety systems. As of 2019, ~500,000 injuries occur in the US annually, in which half of those (nearly 1,000 per day) occur in hospitals. Furthermore, as of 2019, ~1,000,000 injuries occurred annually in Europe. In such cases, the contaminated needle of prefilled syringes can lead to blood-borne infections, such as HIV and HCV.
Opportunity: Growing healthcare infrastructure across emerging industry
Emerging countries continue to suffer from insufficient healthcare funding, which adversely affects access to healthcare, quality, and, ultimately, the health status of citizens. According to the World Bank, approximately 400 million people lack access to essential healthcare services, mostly in Africa and South Asia. Furthermore, accelerating medical inflation, i.e., the cost of medical treatments and a higher prevalence of non-communicable lifestyle-related diseases such as cancer, diabetes, or cardiac syndromes, have resulted in funding gaps.
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Challenge: Availibility of cheaper alternatives
The purchase cost of prefilled syringes as compared to disposable syringes is significantly higher as a result of the high expenses involved in their manufacturing.
Traditionally, injectable were invasive and painful, which was the major reason for patients to prefer alternate routes of drug delivery, such as oral, topical, and nasal. Among the various routes of drug delivery, the oral route is the most preferred as it is easy to use, convenient, cost-effective, safe, and acceptable. Due to the abovementioned factors, the adoption of alternative drug delivery technologies is increasing across the globe. For instance, the development of alternate, cost-effective delivery methods for insulin, such as Pfizer's Exubera (inhalable insulin) and Medtronic's Veo insulin pump (inhalable insulin), is limiting the use of injectable insulin. Currently, insulin is mostly administered through injections, and thus, insulin injections form a significant market for injectable drug delivery technologies. However, the advent of inhalable insulin is expected to significantly impact the growth of this market as nasal drug delivery is pain-free and highly patient compliant. Also, the development of alternate delivery techniques for other disease indications, such as oral anemia treatment by GlaxoSmithKline and Bayer, is expected to adversely affect the growth of injectable technologies in the coming years.
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 market
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 market, 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
Europe is the largest regional market for disposable prefilled syringes
Europe is one of the major revenue-generating regions in the prefilled syringes market. 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. are the major factors driving the growth of the prefilled syringes market in Europe.
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).
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