The global prefilled syringes market was valued at $5,620.23 million in 2020, and is projected to reach $15,735.49 million by 2030, registering a CAGR of 10.8% from 2021 to 2030.
A prefilled syringe is a syringe filled with a fixed quantity of a therapeutic drug. These are novel devices used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility. These features make it more advantageous than traditional methods of drug delivery where glass or metal vials were used to store pharmaceutical drugs. The removal of drug from these vials was prone to contamination and increased the possibility of dosing errors. Therefore, prefilled syringes eliminate the mentioned drawbacks, resulting in increase in their demand.
The growth in home-based healthcare market, increase in adoption of injectable drugs, rise in incidence rate of chronic diseases, and surge in benefits of using prefilled syringes over conventional vials drive the growth of the market. Moreover, technological advancements related to the prefilled syringes contribute toward the growth of the market. However, stringent government regulations, availability of alternative drug-delivery methods, and product recalls are expected to hinder the market growth. Conversely, the growth of biologics & biosimilars and increase in demand for injectable drugs in prefilled forms offer the lucrative growth opportunities for the market.
The global prefilled syringes market is segmented on the basis of material, design, therapeutic, application, and region. Based on material, the market is categorized into glass-based and plastic-based. By design, it is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. Depending on therapeutic, it is bifurcated into large molecules and small molecules. Depending on application, it is categorized into anaphylaxis, rheumatoid arthritis, diabetes, and others (cancer, multiple sclerosis and others). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
A prefilled syringe is a syringe filled with a fixed quantity of a therapeutic drug. These are novel devices used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility. These features make it more advantageous than traditional methods of drug delivery where glass or metal vials were used to store pharmaceutical drugs. The removal of drug from these vials was prone to contamination and increased the possibility of dosing errors. Therefore, prefilled syringes eliminate the mentioned drawbacks, resulting in increase in their demand.
The growth in home-based healthcare market, increase in adoption of injectable drugs, rise in incidence rate of chronic diseases, and surge in benefits of using prefilled syringes over conventional vials drive the growth of the market. Moreover, technological advancements related to the prefilled syringes contribute toward the growth of the market. However, stringent government regulations, availability of alternative drug-delivery methods, and product recalls are expected to hinder the market growth. Conversely, the growth of biologics & biosimilars and increase in demand for injectable drugs in prefilled forms offer the lucrative growth opportunities for the market.
The global prefilled syringes market is segmented on the basis of material, design, therapeutic, application, and region. Based on material, the market is categorized into glass-based and plastic-based. By design, it is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. Depending on therapeutic, it is bifurcated into large molecules and small molecules. Depending on application, it is categorized into anaphylaxis, rheumatoid arthritis, diabetes, and others (cancer, multiple sclerosis and others). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans
- A comprehensive analysis of the factors that drive and restrain the growth of the prefilled syringes market is provided
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By MATERIAL
- Glass-based
- Plastic-based
By DESIGN
- Single-chamber Prefilled Syringes
- Dual-chamber Prefilled Syringes
- Customized Prefilled Syringes
By THERAPEUTIC
- Large Molecules
- Small Molecules
By Application
- Anaphylaxis
- Rheumatoid Arthritis
- Diabetes
- Others (Cancer, Multiple Sclerosis, and Others)
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Abbott Laboratories
- Baxter International
- Bayer AG
- Becton, Dickinson and Company
- Gerresheimer AG
- Medtronic PLC
- Nipro Corporation
- Terumo Medical Corporation
- Vetter Pharma International GmbH
- West Pharmaceutical Services Inc
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Prefilled Syringes Market, by Material
Chapter 5: Prefilled Syringes Market, by Design
Chapter 6: Prefilled Syringes Market, by Therapeutics
Chapter 7: Prefilled Syringes Market, by Application
Chapter 8: Prefilled Syringes Market, by Region
Chapter 9: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Global Prefilled Syringes Market by Material, Design, Therapeutic, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global prefilled syringes market size was valued at $5,620.23 million in 2020, and is projected to reach $15,735.49 million by 2030, registering a CAGR of 10.8% from 2021 to 2030.Healthcare professionals use prefilled syringes to administer fixed single-dose of drugs to the patient. Prefilled syringes are used to package a variety of drugs and diluents, such as therapeutic proteins, vaccines, and insulin. Some of the advantages of using these syringes over traditional syringes are ease of administration, elimination of dosing errors, and reduced risk of contamination.
The major factors that drive the growth of prefilled syringes market are growth in home-based healthcare market, increase in adoption of injectable drugs, rise in incidence of chronic diseases that require frequent drug administration, benefits over syringe packaging systems, and surge in demand for point-of-care drug administration. However, the presence of alternative drug delivery means, the cost associated with the manufacturing of prefilled syringes, storage problem for these syringes, and stringent regulations set by government authorities impede the market growth. Moreover, technological advancements, new innovations, and meeting the unmet demands of patients for unit dose medication in solution form provide opportunities for the market growth in the future.
Coronavirus (COVID-19) outbreak began in late December in Hubei province of Wuhan city in China. Named as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), it is transmitted among humans. There is rise in the demand for the prefilled syringes over glass ampoules or any other additional needles due to reduced risk of needle-stick injuries. Therefore, to increase the production of COVID-19 vaccine, the manufacturers have increased the production capacity of the prefilled syringes. For instance, the U.S. government has signed a deal of $138 million with the syringe makers to facilitate the production of 100 million prefilled syringes for the COVID-19 vaccines by the end of 2020.
The market players have increased the investment in raw materials and resources owing to rise in demand for home based healthcare services. Health care professionals have responded to new and varied ways of delivering the appropriate quantity of care by embracing telemedicine, which help to reduce face-to-face interaction. The increased role of community and individual pharmacists in the management of chronic conditions, as well as the promotion of medication adherence during the COVID-19 pandemic outbreak has eased the burden of healthcare systems. Overall, the impact of COVID-19 on the prefilled syringes market was recorded to be fairly positive. This was attributed to rise in the demand for prefilled syringes over glass ampoules or any other additional needles. Moreover, the market players have increased the investment in raw materials and resources owing to rise in demand for home based healthcare services.
The prefilled syringes market is segmented on the basis of material, design, therapeutic, application, and region. Based on material, the market is categorized into glass-based and plastic-based. By design, it is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes, customized prefilled syringes. Depending on therapeutic, it is bifurcated into large molecules and small molecules. Depending on application, it is fragmented into anaphylaxis, rheumatoid arthritis, diabetes, others (cancer, multiple sclerosis and others). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on the material, the global prefilled syringes market is classified into glass-based and plastic-based. Glass-based segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to technological advancements in the prefilled syringes, increase in adoption of prefilled syringes, rise in incidence rate of chronic diseases, and rise in benefits of using prefilled syringes over conventional vials.
Based on the design, the global prefilled syringes market is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes, customized prefilled syringes. Single-chamber prefilled syringes segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to increase in the demand of prefilled syringes, surge in the number of benefits from the prefilled syringes, and increase in the prevalence of chronic diseases.
Based on therapeutic, the global prefilled syringes market is divided into large molecules and small molecules. Small molecules segment is expected to register the highest growth rate during the forecast period. However, large molecules segment dominated the global market in 2020, and is anticipated to continue this trend throughout the forecast period. This is attributed to increase in the adoption of injectable drugs, growth in home-based healthcare market, and rise in the use of prefilled syringes.
Based on application, the global prefilled syringes market is divided into anaphylaxis, rheumatoid arthritis, diabetes, and others (cancer, multiple sclerosis and others). The diabetes segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to rise in adoptions of injectable devices, surge in advantages of prefilled syringes, and increase in prevalence of chronic diseases.
Europe accounted for major share of the global prefilled syringes market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in incidences of chronic disease, surge in demand for prefilled syringes, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, India and Rest of Asia-Pacific countries are expected to grow at high CAGR in Asia-Pacific prefilled syringes market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of prefilled syringes.
Key Findings Of The Study
- On the basis of material, the glass-based segment held majority share in the global market in 2020
- On the basis of design, the single-chamber prefilled syringes segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period
- By therapeutic, the large molecules segment held largest prefilled syringes market share in 2020, and is expected to remain dominant throughout the forecast period
- On the basis of application, the diabetes segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 128% during the forecast period
Companies Mentioned
- Abbott Laboratories
- Baxter International
- Bayer AG
- Becton, Dickinson and Company
- Gerresheimer AG
- Medtronic PLC
- Nipro Corporation
- Terumo Medical Corporation
- Vetter Pharma International GmbH
- West Pharmaceutical Services Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 5620.23 million |
| Forecasted Market Value ( USD | $ 15735.49 million |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
