Category : Healthcare and Pharmaceuticals | Published at : April-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for prefilled syringes is expected to grow at a CAGR of around 9.9% from 2020 to 2027 and expected to reach the market value of around US$ 11.6 Bn by 2027.
Prefilled Syringes are those which are supplied loaded with the substance that needs to be injected into the target. Basically, it’s a single dose of medication fixed with a needed by the manufacturer. These are used across a wide array of therapeutic sectors outside of the traditional domains of anticoagulants and vaccines. The advantages of prefilled syringes are minimization of drug waste, increased product life span, and enhanced level of market share. Prefilled syringes are convenient and help in easing the administration process, as their pre-measured dosage can reduce dosing errors and increase patient compliance. Additionally, the prefilled syringes have a high level of accuracy and single-use prefilled syringes typically do not require preservatives.
Market Dynamics
The rising target disease population and rapid growth in generic products are driving the market growth. The rising adoption of self-medication and digitalization, technological advancements including cost affordability, and increased efficiency of prefilled syringes is driving the market growth. Furthermore, growing healthcare infrastructure across emerging markets, surging biologics and biosimilars in the biopharma industry, and increasing adoption of wearable drug delivery technologies are projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, the dearth of prefilled syringes with integrated safety features is the factor projected to limit the growth to an extent over the forecast period from 2020 to 2027.
Segment Instance Prefilled Syringes Market
Single-chamber prefilled syringes segment is leading the market with maximum revenue share
On the basis of design, the single-chamber prefilled syringes segment is having a potential share in the prefilled syringes market. The single-chamber prefilled syringes provide protection to patients and clinicians from needle stick injuries which are likely to boost the segment market value. Ease of usage and simple storage associated with the single-chamber syringes is further bolstering the demand in the market.
Glass segment accounted for the maximum revenue share in the prefilled syringes market
By material, glass prefilled syringes are accounted for the maximum revenue share (%) due to their excellent properties like it prevents water and oxygen vapor from interacting with drug compounds. Also, glass is compatible with different filling machines and drugs. Moreover, the delicacy and high maintenance cost associated with the glass prefilled syringes is providing scope to the plastic prefilled syringes in the market. As a fact, the plastic prefilled syringes segment is anticipated to exhibit the fastest growth over the forecast timeframe from 2020 to 2027. The benefits associated with the plastic-like breakage proof and flexibility as compared to the glass is supporting the segmental growth over the forecast period.
Asia Pacific is estimated to registers fastest growth in the prefilled syringes market
In 2019, Asia Pacific is anticipated to exhibit the fastest growth over the forecast timeframe from 2020 to 2027. The major economies of the region including Japan, China, and India are the major revenue contributors. The region is also estimated to experience major technological advances throughout the forecast period from 2020 to 2027. The presence of a huge number of diabetes patient as well as the increasing disposable income of people which is supporting the increased spending power of residents on healthcare design is driving the regional market growth.
Key Market Players
The players profiled in the report include Baxter International Inc, Becton, Dickinson and Company, Catalent, Inc., Elcam Medical, Gerresheimer, Nipro Corporation, Ompi, Oval Medical Technologies, SCHOTT AG, SHL Medical AG, Terumo, Vetter Pharma International GmbH, Weigao Group, YPSOMED, and West Pharmaceutical Services, Inc.
Market Segmentation
Market By Type
Conventional Prefilled Syringes
- Disposable Prefilled Syringes
- Reusable Prefilled Syringes
Safety Prefilled Syringes
Market By Material
Glass Prefilled Syringes
Plastic Prefilled Syringes
Market By Design
Single-Chamber Prefilled Syringes
Dual- Chamber Prefilled Syringes
Customized Prefilled Syringes
Market By Application
Diabetes
Rheumatoid Arthritis
Anaphylaxis
Cancer
Thrombosis
Ophthalmology
Others
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
The market for prefilled syringes is expected to reach a market value of around US$ 11.6 Bn by 2027.
The prefilled syringes market is expected to grow at a CAGR of around 9.9% from 2020 to 2027.
The single-chamber prefilled syringes is the leading segment by design in the prefilled syringes market
Glass prefilled syringes is the leading segment by material in the prefilled syringes market
The rising target disease population, rapid growth in generic products, rising adoption of self-medication and digitalization, technological advancements including cost affordability, and increased efficiency of prefilled syringes are some of the major factors driving the market growth.
Baxter International Inc, Becton, Dickinson and Company, Catalent, Inc., Elcam Medical, Gerresheimer, Nipro Corporation, Ompi, Oval Medical Technologies, SCHOTT AG, SHL Medical AG, Terumo, Vetter Pharma International GmbH, Weigao Group, YPSOMED, and West Pharmaceutical Type, Inc. are some of the prominent players in the market.
Asia Pacific is expected to be the fastest growing market over the forecast period
