The Global Safety Prefilled Syringe Market Size Accounted for USD 3,591 Million in 2021 and is predicted to be worth USD 6,534 Million by 2030, with a CAGR of 7.1% during the Forthcoming Period from 2022 to 2030.
Prefilled syringes are ready-to-use pharmaceutical products used to deliver the medication to the patients. They are disposable syringes which contain substance or liquid use to administer to a patient. These syringes deliver the accurate dose of the drug and help in preventing the chances of over dosing. They are also used to deliver the vaccines where accurate dose is need. The European market for prefilled syringes is relatively more mature compared to the US market owing to the rapid adoption of the technology. A number of companies are involved in the manufacturing of the advance syringes which will improve the route of the administration of the drug.
Global Safety Prefilled Syringe Market DRO’s
Safety Prefilled Syringe Market Report Coverage:
|Market||Safety Prefilled Syringe Market|
|Safety Prefilled Syringe Market Size 2021||USD 3,591 Million|
|Safety Prefilled Syringe Market Forecast 2030||USD 6,534 Million|
|Safety Prefilled Syringe Market CAGR During 2022 - 2030||7.1%|
|Safety Prefilled Syringe Market Analysis Period||2018 - 2030|
|Safety Prefilled Syringe Market Base Year||2021|
|Safety Prefilled Syringe Market Forecast Data||2022 - 2030|
|Segments Covered||By Mode of Delivery, By Barrel Type, By Product Type, By Application, And By Region
|Safety Prefilled Syringe Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Schott AG, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent, Inc., Weigao Group, OMPI (A Stevanato Group Company), Nipro Corporation, and Medpro Inc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The major driving factors for the safety prefilled syringe market are increasing prevalence of the various chronic diseases such as diabetes, cancer, hormonal diseases and others. According to the WHO, in 2016, 422 million people across the globe are suffering from diabetes. Rapidly increasing prevalence of various diseases has increased the demand for the better treatment option and ultimately supported the growth of the safety prefilled syringe market size. Additionally, increasing healthcare expenditure, increasing government support and growing preference by individuals for vaccines has boosted the growth of the safety prefilled syringe market value.
However, high costs of syringes, and incident related with cross-contamination between primary packaging and drugs present within the syringe are major factors hindering the growth of the safety prefilled syringe market trend. Moreover, availability of better and effective alternative such as nano-patches and other non-invasive methods for drug administration are also responsible for slowing the market growth.
The major challenges in the market are the interaction of prefilled syringes with the drug which is the major concern because it creates stability issues. Thus, a number of manufacturers need to eliminate the interaction between drugs and packaging materials. A number of government organizations are continuously focusing on development of the better product or to improve the existing syringes.
Safety Prefilled Syringe Market Segmentation
The global safety prefilled syringe market segmentation is based on the mode of delivery, barrel type, product type, application, and geographical region.
Market by Mode of Delivery
Market by Barrel Type
Market by Product Type
Market by Application
Safety Prefilled Syringe Market Regional Outlook
The Middle East & Africa (MEA)
Globally, the safety prefilled syringe market is segmented into North America, Europe, Asia Pacific and Latin America, Middle East & Africa.
Europe is expected to dominate the safety prefilled syringe market owing to their advancement in technology and large patient pool in the region. Additionally, the number of diabetic and obese population is large in the region which adds to the patient pool and supported the growth of the market. Increasing research & development in the medical field and better access to medical facilities is supporting the growth of the safety prefilled syringe market revenue in this region.
North America is estimated to have the second largest market in the forecast period followed by the Asia Pacific. During last decade, the healthcare expenditure has increased by several folds. According to the Centre for Medicare and Medicaid Services, national health spending in the U.S.A is projected to grow at an average rate of 5.5 % per year for 2017-26 and to reach $5.7 trillion by 2026. This will help in driving the market growth in near future.
Asia Pacific region is expected to have the fastest growth during the forecast period. This is attributed to growing number of surgeries and huge investment in the healthcare sector by government & private players. A huge number of diabetic and obese population of the region is also fueling the growth of the market. According to International Diabetes Federation (IDF), over 114 million cases of diabetes are present in China. Additionally, excessive rate of road accidents and an introduction of new technologies is further boosting the market.
LAMEA region is expected to show healthy growth during the forecast period. Increasing geriatric population and increasing number of surgeries in the region are driving the growth of the market. Moreover, lack of medical facilities Africa region creates an opportunity for key players to expand their market in this region.
Safety Prefilled Syringe Market Players
Some of the prominent global Safety Prefilled Syringe market companies are Schott AG, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent, Inc., Weigao Group, OMPI (A Stevanato Group Company), Nipro Corporation, and Medpro Inc.
The global safety prefilled syringe market size in 2021 was accounted to be USD 3,591 Million.
The projected CAGR of safety prefilled syringe during the analysis period of 2022 to 2030 is 7.1%.
The prominent players of the global safety prefilled syringe market involve Schott AG, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent, Inc., Weigao Group, OMPI (A Stevanato Group Company), Nipro Corporation, and Medpro Inc.
Europe held the dominating share for safety prefilled syringe during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for safety prefilled syringe during the analysis period of 2022 to 2030.
Increasing prevalence of target disease population and growing adoption of self-medication as well as digitalization are the prominent factors that fuel the growth of global safety prefilled syringe market.
Based on type, single chambered segment hold the maximum share for safety prefilled syringe market in 2021.