Prefilled Syringes Market: A Look at the Industry’s Current Status and Future Outlook
The global prefilled syringes market size is expected to reach USD 12.76 Billion in 2028 and register a significantly robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Increasing demand for easy-to-use drug delivery devices and technological advancements in injectable drug delivery devices are expected to drive market revenue growth to a significant extent during the forecast period. Innovations in prefilled syringes are aiding in addressing ongoing safety concerns about needlestick injuries. Usage of prefilled syringes for a wide range of therapeutic applications such as blood stimulants, vaccines, and therapeutic vaccines is boosting revenue growth of the market. Ease of usage and eliminating dosing errors are other major factors driving demand among various healthcare facilities. Prefilled syringe manufacturers are increasingly investing in order to develop more advanced prefilled syringes to meet rising demand across the healthcare industry. In 2018, SCHOTT introduced syriQ BioPure, which is a pre-fillable glass syringe for biologics designed to ensure ease administration and drug stability, as well as shorten time to market.
Increasing adoption of wearable drug delivery technologies, rising prevalence of chronic diseases, and growing popularity of home-based treatment options across major therapeutic areas is supporting demand for wearable drug delivery technologies. Pen injectors and auto-injectors are increasingly being utilized for self-administered insulin injections and boosting demand for prefilled syringes.
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Some Key Highlights from the Report
- In May 2021, Becton, Dickinson, and Company announced that it is set to build a new plant in Zaragoza, Spain, in order to meet rising demand for prefilled syringes. The company invested USD 200 million in the new plant, where glass prefilled syringes and plastic components would be produced.
- Disposable segment accounted for largest revenue share in 2020. Availability of disposable plastic syringes in sterilized conditions, cost-effectiveness, and ready to use features are resulting in increasing usage in comparison to conventional glass syringes.
- Plastic segment revenue is expected to expand at a rapid CAGR during the forecast period. Plastic based prefilled syringes are increasingly being utilized due to improved break resistance of the material as well as its decreased surface reactivity and drug absorption rates.
- Diabetes segment accounted for a relatively larger revenue share in the global prefilled syringes market in 2020. Increase in adoption of sedentary lifestyle is boosting the prevalence of diabetes and increasing the usage of prefilled syringes.
- Hospitals segment accounted for a significantly high revenue share in the global prefilled syringes market in 2020. Increasing expenditure by governments on healthcare facilities to improve patient safety and comfort is expected to increase adoption of prefilled syringes in hospitals.
- Europe accounted for largest revenue share contribution to the global prefilled syringes market in 2020. Growth of the pharmaceutical industry in the region is expected to drive steady demand for prefilled syringes.
The leading market contenders listed in the report are:
SCHOTT AG, Becton, Dickinson, and Company, Gerresheimer AG, West Pharmaceutical Services, Inc., Medtronic plc, Catalent, Inc., Shandong Weigao Group, Nipro Corporation, Unilife Corporation, and Vetter Pharma International GmbH
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Regional Segmentation:
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
Market Segmentations of the Prefilled Syringes Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Prefilled Syringes market on the basis of product, application, and region:
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Reusable
- Disposable
- Material Outlook (Revenue, USD Billion; 2018–2028)
- Plastic
- Glass
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Diabetes
- Rheumatoid Arthritis
- Anaphylaxis
- Cancer
- Others
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How will this Report Benefit you?
An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global Prefilled Syringes market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for Prefilled Syringes. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.
Additional information offered by the report:
- Along with a complete overview of the global Prefilled Syringes market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Prefilled Syringes market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
In conclusion, the Prefilled Syringes Market report is an exhaustive database that will help readers formulate lucrative strategies. The Prefilled Syringes Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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