The paradigm shift observed in the sectors of biologics and biosimilars is also found to be promoting the market’s growth significantly. Additionally, another factor that is causing market growth are the chronic diseases which persist for a long time and therefore necessitate the regular administration of drugs. The surge in chronic diseases such as diabetes will possibly enhance the development of the market for prefilled syringes as parenteral drug delivery is the second most preferred route of administration. The advantages of ease of use and elimination of dosing errors are among the most significant benefits of pre-filled syringes. The suitability for home use, greater dose precision and simplicity in design are adjudged to the factors that will radically boost the demand of the market in the forthcoming forecast period.Prefilled syringes are defined as disposable syringes (meant for one-time use) that are already filled with the pharmaceutical substances that are to be injected into the patient’s body.
A new report on the global Prefilled Syringes Market Trends published by Market Research Future (MRFR), points out that this market could see a rise at 10.20% CAGR between 2016 and 2024. In terms of money value, the market can be worth USD 8397.23 Mn by the end of the forecast period.
- Baxter International
- Becton Dickinson & Company
- Gerresheimer AG
- Nipro Corporation
- Schott AG
- Terumo Corporation
- Vetter Pharma International GmbH
- Weigao Group
- West Pharmaceutical
- The global prefilled syringes market segmentation encompasses design, end-user, material, and type. MRFR’s take on the market surveys various facets of the market in-depth.
- The design-based segmentation of this market covers single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. During the forecast period, the dual-chamber prefilled syringes segment is expected to grow at 10.31% CAGR. Single-chamber prefilled syringes segment is expected to hold the larger market share of 56% in the global market.
- Regarding end-users, the market has been segmented into the ambulatory surgical center and hospitals/clinics. Due to the growing number of public hospitals as well as private hospitals, the hospitals segment has been anticipated to grow faster during the forecast period.
- Based on material, the market has been segmented into glass prefilled syringes and plastic syringes. The glass prefilled syringes segment has been sub-segmented into baked on silicone syringes and oil siliconized syringes. Plastic syringes segment has higher growth due to its usage in many applications of pharmaceutical packaging during the forecast period.
- By type, the market has been segmented into conventional prefilled syringes and safety prefilled syringes. Conventional prefilled syringes held the larger market share of about 68% in 2017.
The regional analysis of the prefilled syringes market globally consists of regions is divided into Europe, Americas, Asia Pacific, Middle East and Africa.
The European region is responsible for the leading market share of about 41.4 percent in the year 2017 and is expected to lead the prefilled syringes market globally. The higher share is majorly attributed to the rising geriatric population, demand for quality healthcare and growing trend of home-based treatment separate with high healthcare expenditure.
The Americas region is responsible for the second biggest market portion, whereas the Asia Pacific region is anticipated to develop at a rapid expansion rate of about 10.78 percent during the forecast period. With loads of prospects and unceasingly developing economies, the region is expected to be among the rapidly growing area. Moreover, factors such as Japan’s quick adoption of plastic devices along with the modern healthcare developments, and increasing number of private and public hospitals, are promoting the growth of the market.
The Middle East and Africa region with a lesser degree of economic developments and very low-income per capita is responsible for the minimum market share in 2017 but is likely to develop in the future.
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