Number of pages: 100 | Report Format: PDF | Published date: July 18, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global prefilled syringes market was pegged at US$ 5.4 in 2020 and is expected to witness a CAGR of 8.7% during the forecast period.
Prefilled syringes are devices that are used for the delivery of parenteral medications. These syringes have been utilized across a wide range of therapeutic sectors such as vaccines, blood stimulants, and therapeutic proteins. In the past, metal or glass syringes were commonly used. However, in the recent years, manufacturers have increased the use of polymers for manufacturing cost effective and much safer plastic syringes. Technological improvements in the design have dramatically advanced prefilled syringe quality and in turn, fueled their demand. With the help of prefilled syringes, pharmaceutical companies can minimize wastage of drug and provide highly accurate doses, while patients are able to self-administer these injectable drugs at their home.
Growing demand for easy-to-use drug delivery devices, new product launches, and the rising technological advancements are some of the major factors expected to fuel the market growth. Moreover, the rising target disease population, growing awareness for self-administration of injectable drugs at home or other non-clinical settings, and the increasing focus of manufacturers to seek approvals by regulatory bodies are some of the other factors playing a pivotal role in propelling the global prefilled syringes market growth. However, high cost, non-compatibility with some drugs, and manufacturing challenges for these syringes are some of the factors hindering the growth of prefilled syringes market to a certain extent.
The global prefilled syringes market has been analyzed from five perspectives: type, design, material, application, and region.
Prefilled Syringes Market by Type
Based on type, the prefilled syringes market has been segmented into conventional prefilled syringes and safety prefilled syringes. Conventional prefilled syringes segment is further bifurcated into reusable prefilled syringes and disposable prefilled syringes. Safety prefilled syringes segment is anticipated to grow at the fastest CAGR during the forecast period. Safety pre-filled syringes are safe compared to those without needle protection and are well-adapted for self-administration. Moreover, ease-of-use as these syringes have retracting needle mechanisms is also fueling the growth of this segment.
Prefilled Syringes Market by Design
Based on design, the market has been segmented into single-chamber prefilled syringes, dual- chamber prefilled syringes, and customized prefilled syringes. Single-chamber prefilled syringes segment held the largest share of the prefilled syringes market in 2020. Majority of prefilled syringes available in the market are single-chamber prefilled syringes. Moreover, advantages of single-chamber prefilled syringes such as optimized API use with less overfill, reduced material requirements, and low drug wastage are some of the other factors that have led to increasing use of these syringes.
Prefilled Syringes Market by Material
Based on material, the market has been segmented into plastic prefilled syringes and glass prefilled syringes. Glass prefilled syringes dominated the prefilled syringe market in 2020. Manufactures are using glass for manufacturing prefilled syringes owing to their excellent barrier properties and regulatory ease. The barrier properties of glass help in preventing oxygen and water vapor from interacting with drug compounds. Such properties of glass syringes have led to the increasing use of these syringes.
Prefilled Syringes Market by Application
Based on application, the market has been segmented into diabetes, rheumatoid arthritis, cancer, thrombosis, anaphylaxis, ophthalmology, and other applications. Diabetes segment held the largest share of the prefilled syringes market in 2020. Increasing incidence of diabetes, the rising geriatric population, and the growing awareness on self-management of the disease are some of the factors driving the market. Moreover, increasing accuracy, efficacy, and safety have led to growing acceptability of a pre-filled insulin pen among diabetic patients.
Prefilled Syringes Market by Region
Regionally, the global prefilled syringes market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe dominated the market for prefilled syringes holding the largest market share in 2020, followed by North America. Various factors driving the growth of prefilled syringes market in this region include the rising geriatric population, the rising targeted diseases, and growing adoption of self-injection devices. Moreover, the presence of players manufacturing technologically advanced syringes and new product launches are also propelling the prefilled syringes market growth in this region.
Some of the prominent players operating in the global prefilled syringes market include
The global prefilled syringes market was anticipated to clock US$ 5.4 in 2020.
The prefilled syringes market is projected to reach US$ 13.52 billion by 2031.
The global prefilled syringes market is mainly driven by the rising target disease population, growing awareness for self-administration of injectable drugs at home or other non-clinical settings.
Becton, Dickinson and Company, Baxter Healthcare Corporation, Gerresheimer AG, West Pharmaceutical Services, Inc., Schott AG, Medtronic PLC, Nipro Pharma Corporation, Terumo Corporation, SHL Medical AG, and Haselmeier, among others.
The growth rate of prefilled syringes market is CAGR of 8.7% between 2021.
North America held the largest market share of the global prefilled syringes market.
*Insights on financial performance is subject to availability of information in public domain