With 10.6% CAGR, Prefilled Syringes Market Size worth USD 15.20 Billion by 2029

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Pune, India, May 05, 2022 (GLOBE NEWSWIRE) — The global prefilled syringes market size was USD 15.20 Billion in 2029 while exhibiting a CAGR of 10.6% between 2021 and 2029. This information is provided by Fortune Business Insights™, in its report, titled, “Prefilled Syringes Market, 2021-2029.” The report further mentions that the market stood at USD 6.60 billion in 2021. According to our researchers, the growing occurrence of prolonged diseases, such as diabetes and other autoimmune illnesses is expected to fuel the market demand during the mentioned period. For example, as per the American Autoimmune Related Diseases Association Inc. (AARDA), around 50 million Americans are presently suffering from autoimmune illnesses. This is further anticipated to augment and bolster the market growth during the forecast period.

Industry Development

October 2019: BD (Becton, Dickinson, and Company) announced the launch of the BD Intevia 1mL two-step disposable autoinjector. The innovative device combines autoinjector and pre-fillable syringe in one integrated system.

March 2020 – Dr. Reddy announced the unveiling of naloxone hydrochloride prefilled syringe. These pre-filled needles are obtainable in the form of 2 ml solo-dose inoculation.

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Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2021 to 2028 CAGR 10.6%
2029 Value Projection USD 15.20 Billion
Base Year 2021
Market Size in 2021 USD 6.60 Billion
Historical Data for 2018 to 2020
No. of Pages 188
Segments covered Material, Closing System, Product, Design, End-Users and Geography
Growth Drivers High Demand for Prefilled Products amid COVID-19 for Vaccine Production
Growing Innovations in Prefilled Products for Biologic Drugs to Propel Market Growth
Rising Demand for Biologics; Biosimilars to Aid Market Expansion

Rising Cases of Chronic Diseases to Augment Growth

The growing incidence of cancer and other non-communicable diseases is expected to spur demand for biological drugs, which, in turn, will foster the growth of the market. According to the National Cancer Institute, an estimated 1,735,530 new cancer cases were diagnosed in the U.S. in 2018. The number is expected to reach 23.6 million by 2030, thus, boosting the need for biologics. The rising shift towards prefilled syringes for the administration of biologics and biosimilars will have an excellent impact on the market during the forecast period. Similarly, the application of biologics in numerous target diseases with limited treatment options such as cancer, autoimmune diseases, and other non-communicable diseases will spur the demand of the market in the forthcoming years.

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The report delivers a systematic study of the market fragments and a comprehensive breakdown of the market dynamics. A thoughtful assessment of the contemporary market fads as well as forthcoming prospects is offered in the report. It additionally shares an exhaustive study of the regional dynamics and how they are crucial in forming market growth. The COVID-19 impacts have been discussed in the report to aid stakeholders and business professionals in comprehending the dangers in a clear and better way. It also focuses on the prominent players and their principal tactics to remain in the dominating position.

Increasing Implementation of Self-Injecting Parenteral Apparatuses to Boost Market Growth

The usage of prefilled syringes as a self-inserting instrument is the contemporary method to control parenteral medications. These are appropriate and aid in simplifying the management procedure. They offer superior patient protection by dropping the latent for involuntary needle sticks and contact with contaminated products that may occur while extracting drugs from ampoules.

Solid Product Offerings by Prominent Players to Thrust Syringes Substitute Industry Growth

Prominent players in the market are often seen implementing efficient strategies to succeed in their respective fields and gain maximum traction in their business. Key players offer a wide range of prefillable syringes to a large number of pharmaceutical manufacturing companies and strongly emphasize strengthening its distribution network through strategic collaboration with many research organizations to enlarge its customer base.

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Segmentation

Based on material, the global market is segregated into glass and plastic. On the basis of the closing system, the market has been classified into a staked needle system, Luer cone system, and Luer lock form system. By product, the market has been bifurcated into a complete syringe set and components & accessories. In terms of end-user, the market has been separated into pharmaceutical & biotechnology companies, contract research & manufacturing organizations, and others. In terms of region, the market is branched into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Increasing Product Launches to Support Development in Europe

Europe is expected to witness a high growth rate during the forecast period owing to the increasing number of patients using biologics as treatment options for chronic diseases. The increasing adoption of prefilled syringes as self-injecting drug devices will further support the growth of the market in Europe. The presence of major players will boost growth in the region. Additionally, the growing introduction of a new prefilled syringe by major players will favor growth in the region. For instance, in October 2018, Fresenius Kabi announced the launch of a new prefilled syringe of palonosetron hydrochloride. North America is expected to rise tremendously during the forecast period owing to the surge in chronic diseases such as diabetes and rheumatoid arthritis. The strong distribution networks of eminent players will boost growth in North America. The market in Asia Pacific is likely to observe a significant growth rate owing to the increasing prevalence of chronic diseases and a rapidly growing patient population

List of Key Players Covered in the Market Report

  • BD (New Jersey, United States)
  • Gerresheimer AG (Dusseldorf, Germany)
  • SCHOTT AG (Mainz, Germany)
  • West Pharmaceutical Services Inc. (Pennsylvania, United States)
  • Helvoet Rubber & Plastic Technologies BV (Netherlands)
  • Nipro PharmaPackaging International (Mechelen, Belgium)
  • AptarGroup, Inc. (Illinois, United States)
  • Terumo Corporation (Tokyo, Japan)

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Regulatory Scenario by Key Countries/Key Region
    • Overview of Secondary Prefilled Containers such as Auto-injectors, Pens, etc.
    • Prefilled Syringes Key Market Trends
    • Overview of Contract Research and Manufacturing Service Providers for Prefilled Syringes
    • Key Industry Developments (Mergers, Acquisitions, Strategic Partnerships, Collaborations, etc.)
  • Global Prefilled Syringes Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Material
      • Glass
      • Plastic
    • Market Analysis, Insights and Forecast – By Closing System
      • Staked Needle System
      • Luer Cone System
      • Luer Lock Form System
    • Market Analysis, Insights and Forecast – By Product
      • Complete Syringe Set
      • Components & Accessories (Backstops, Plunger Stoppers, and Plunger Rods)
    • Market Analysis, Insights and Forecast – By Design
      • Single-chamber
      • Double-chamber
      • Multiple-chamber
    • Market Analysis, Insights and Forecast – By End User
      • Pharmaceutical & Biotechnology Companies
      • Contract Research & Manufacturing Organizations
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • North America Prefilled Syringes Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis – By Material
      • Glass
      • Plastic
    • Market Analysis – By Closing System
      • Staked Needle System
      • Luer Cone System
      • Luer Lock Form System
    • Market Analysis – By Product
      • Complete Syringe Set
      • Components & Accessories (Backstops, Plunger Stoppers, and Plunger Rods)
    • Market Analysis – By Design
      • Single-chamber
      • Double-chamber
      • Multiple Chamber
    • Market Analysis, Insights and Forecast – By End User
      • Pharmaceutical & Biotechnology Companies
      • Contract Research & Manufacturing Organizations
      • Others
    • Market Analysis – By Country
      • U.S.
      • Canada

TOC Continued…!!

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