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Prefilled Syringes Market

Prefilled Syringes Market

Glass Based Prefilled Syringes to Capture Major Chunk in the Global Prefilled Syringes Market Share during 2021-2031

Prefilled Syringes Market
FACT603MR
  • Aug-2021
  • List of Tables : 113
  • List of Figures : 93
  • 170 Pages
  • Healthcare

Market Snapshot

Newly published data from Fact.MR- a market research and competitive intelligence provider- estimates that the global market for prefilled syringes is expected to grow at a value CAGR of nearly 10% from 2021 to 2031. Short-term forecast appears equally lucrative, registering a growth rate of 9.6% until 2026.

As the pharmaceutical industry explores innovative and more convenient drug delivery systems, pre-filled syringes have emerged as one of the fastest-growing options for unit dosage medicine. Revenues in the prefilled syringes industry are expected to double throughout the forecast period.

Key Points Addressed in Prefilled Syringes Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Prefilled Syringes Market Consumption Analysis 2016-2020 Vs Future Outlook 2021-2031

From 2016 to 2020, the global prefilled syringes market expanded at an impressive rate, registering a CAGR of around 9% to reach US$ 3.6 Bn by the end of the said historical period. Fast track approvals of innovative biologic drugs held demand in good stead.

Advancements in packaging technology across the healthcare and pharmaceutical sector have paved the way for prefilled syringes. As stakeholders look to attain efficiency with regards to drug delivery and distribution, regulatory authorities are approving numerous syringe designs, albeit post consideration of safety of administration.

By 2026, over 10 Mn units of prefilled syringes are estimated to be sold in various healthcare institutions across the world, while long term forecast also appears significantly promising. From 2021 to 2031, sales of prefilled syringes are expected to reach US$ 7.2 Bn.

How are Innovations in the Healthcare Industry Spurring Prefilled Syringes Sales?

As countries worldwide beef up healthcare infrastructure, emphasis on innovative drug administration and delivery approaches is acquiring center stage. A major trend prevailing across all countries is the rising popularity of self-medication, especially for chronic ailments.

Patients suffering from diseases such as diabetes, cardiac disorders and autoimmune diseases require constant medication. Therefore, parenteral administration of drugs is being increasingly relied upon to produce quick onset of action and 100% bioavailability.

As per the National Center for Biotechnology Information, over 20 pharmaceutical companies manufacture prefilled syringes for at least 50 injectable drugs. This use of prefilled syringes is only expected to accelerate over the coming decades.

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Is the Scramble for Faster Drug Delivery Enhancing Usage of Prefilled Syringes?

Contemporary healthcare is all about providing efficient and swift diagnosis and treatment for numerous ailments. Prominent pharmaceutical giants have extensively invested in research & development initiatives to develop swift acting medicines for several conditions.

Experts have concluded that injection-based drug delivery has exhibits higher potential in providing relief to patients, compared to oral medicine administration. Furthermore, this approach bypasses side-effects such as nausea and unconsciousness, particularly in emergency clinical episodes.

Based on these trends, demand for prefilled syringes is expected to climb even further across the upcoming decade. Companies are striving to develop drug delivery systems, including prefilled syringes, which can reduce total number of injections and help achieve pharmacoeconomy.

Country Wise Analysis

How is the U.S Generating Demand for Prefilled Syringes?

The market for prefilled syringes in the U.S is anticipated to expand at a CAGR of 8% across the 2021-2031 forecast period. Stringent regulations regarding use of appropriate parenteral drug administration routes is encouraging sales across the country.

According to the Final Rule: “Current Good Manufacturing Practice Requirements for Combination Products” published by the FDA, manufacturers of parenteral drug administration equipment have to clear regulatory requirements for quality systems used to design, develop, and manufacture combination products, as well as assisting in the consistent and appropriate application and enforcement of these requirements.

In the prefilled syringe industry, there is a high concentration of suppliers offering both end products and original components. The existence of competent suppliers ensures the use of prefilled syringes in the U.S.

Why is Europe the Largest Market for Prefilled Syringes?

Europe's prefilled syringes industry is expected to grow at a rapid pace through the forecast period, emerging as the largest investment hub for key manufacturers. The industry's growth can be linked to home market development in healthcare and the advantages of utilizing standard prefilled syringes.

According to the study, the market was estimated at US$ 1.04 Bn in 2020 and is anticipated to expand at a CAGR of 5.77 % during the forecast period. Growth is further impelled by the ever increasing incidences of chronic ailments.

How Advancements in Healthcare is Driving the Market in Asia?

The Asian market for prefilled syringes was valued at US$ 2.4 Bn in 2020 and is expected to rise to US$ 3.95 Bn by 2025, at a CAGR of 10.5 % during the projected period.

Extensive expenditure on sprucing up regional healthcare infrastructures is majorly pivoting growth. Prospects are especially bright across the Indian and Chinese markets. According to the World Bank, India spent 3.5% of its GDP on boosting its healthcare infrastructure, while China spent 5.3% as of 2018.

Patients afflicted with such conditions as diabetes and cardiac problems are especially relying more on self-medication across both countries. This is majorly stimulating demand for prefilled syringes.

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Category Wise Insights

Why are Sales of Glass-based Prefilled Syringes on the Incline?

Glass-based prefilled syringes are expected to remain top selling across the forthcoming decade, attributed to significant advantages such as high stability, prevention of interaction between the drug and oxygen or water vapor and high compatibility.

Additionally, glass prefilled syringes are also more heat resistant. According to projections put forth by Fact.MR, the glass-based prefilled syringes segment is anticipated to account for a revenue share worth 40% throughout the forecast period.

Why is there a Tilt towards Safety Prefilled Syringes?

The safety prefilled syringes segment is expected to witness the highest growth, primarily due to the rising geriatric population and availability of biological therapies for patients with chronic conditions and outsourcing of low-risk medical procedures for chronic patients alleviates some of the pressure on hospitals.

Pharmaceutical practitioners are becoming increasingly aware about the possible impacts of non-sterilized prefilled syringes. Hence, they are shifting towards the usage of safety syringes which are single-use. A CAGR worth 5% is projected for this segment.

Competitive Landscape

The market for prefilled syringes is moderately competitive, with intense price rivalry. The market includes both global and local companies. Most poor nations have local players who sell prefilled syringes at a reduced cost.

  • In December 2020, Becton Dickinson & Company announced its decision to invest approximately US$ 1.2 billion over a 4-year period to expand and upgrade its manufacturing capacity and technology for pre-fillable syringes and advanced drug delivery systems
  • Likewise, in September 2019, Terumo Corporation received approval in Japan for its TeriboneTM 28.2 µg formula to treat osteoporosis. This formulation is compatible with the company’s PLAJEXTM syringe, assembled as an auto-injector delivery device for single dose usage.

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Report Scope

Report Attribute

Details

Market size value in 2020

USD 3.6 Billion

Market forecast value in 2031

USD 7.2 Billion

Growth Rate

CAGR of 10% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • GCC
  • South Africa

Key Market Segments Covered

  • Function Type
  • Technology Type
  • Distribution Channel
  • Material Type
  • Region

Key Companies Profiled

  • Becton Dickinson and Company
  • Terumo Medical Corporation
  • Baxter International Inc.
  • Medtronic Plc.
  • Gerresheimer

Pricing

Available upon Request

Key Segments Covered

  • Function Type

    • Single Chambered Prefilled Syringes
    • Dual/Multi Chambered Prefilled Syringes
  • Technology Type

    • Conventional Prefilled Syringes
    • Safety Prefilled Syringes
  • Distribution Channel

    • Prefilled Syringes across Hospitals
    • Prefilled Syringes across Specialty Clinics
    • Prefilled Syringes across Online Pharmacies
    • Prefilled Syringes across Other Distribution Channels
  • Material Type

    • Glass based Prefilled Syringes
    • Polymer based Prefilled Syringes

Prefilled Syringes Market Scope Of The Report

Extensive research analysis associated with market valuation, applications, demand and sales of prefilled syringes has been covered in global prefilled syringes market, a new research report devised by Fact.MR recently.

This research report gives a thorough analysis on the changing dynamics of the global market for prefilled syringes along with incisive insights on each market segment.

The research report on global prefilled syringes market includes insights on various aspects that drive the market, for instance, new trends, developments and factors that have aided the use of prefilled syringes thus fuelling their sales across regions.

In addition, the research report also portrays major challenges faced by manufacturers of prefilled syringes, as well as restraints that have a negative influence on the growth of the global prefilled syringes market.

The research study includes historical data analysis on prefilled syringes market along with current market scenario and future market projections that cover a nine year span, from 2017 till 2026.

Moreover, market for prefilled syringes across key regions in the globe along with intelligence on sub regional markets for prefilled syringes has been included in this research report.

This portrays a 360 degree market intelligence on prefilled syringes that the reader can utilize to plant the next move/s with a view to establish a global footprint in the global market.

Extensive research process pushes the credibility of the research

Global market for prefilled syringes has been researched upon using a unique research methodology which includes both primary and secondary research.

The research is kick started with a high level secondary scrutiny on prefilled syringes followed by primary research. Both these arms are used simultaneously and each data point gathered from secondary research is verified in primary interviews.

Moreover, each market statistic from one primary interview is re-evaluated in the next and this continues till the conclusion of the research study.

These multiple validation funnels of each and every market statistic ensures a high level accuracy of the data thus enhancing the credibility of the research report. Each segment of the market is analyzed in similar fashion.

Competitive intelligence covered

The research report on global prefilled syringes market includes in-depth competitive assessment. This includes analysis on the key manufacturers, distributors and third party vendors of prefilled syringes.

Their key details such as SWOT analysis, product developments, innovations and product offerings and portfolio, market shares, sale analysis, expansion plans, mergers and strategic alliances, key strategies, supply chain analysis and overall financial aspects of the key players have been included in a separate section in the report titled competitive landscape.

The reader can gain complete understanding on the current happenings in the prefilled syringes market. This section can assist the reader in gaining an edge over the competition in the years to follow.

Analytical research report on global prefilled syringes market offers actionable intelligence on every market facet by providing a thorough deep dive on the global prefilled syringes market.

This research report supports in achieving research objectives of the reader and his/her intelligence team with the use of which they can plan for new strategies and marketing tactics.

This type of third party research provides an unbiased view of the global prefilled syringes market with weighted market segmentation, insightful segmental snapshot, and a holistic view of the entire market.

Moreover, all the insights are drafted in a systematic manner for the convenience of the reader. Fact.MR also extends a 24x7 analyst support for the readers of this report in case of any queries or requests.

- FAQs -

As of 2020, sales of prefilled syringes reached a value of US$ 3.6 Bn according to Fact.MR

Sales of prefilled syringes expanded at an impressive 9% CAGR from 2016 to 2020

According to Fact.MR’s estimates, global sales of prefilled syringes are expected to reach US$ 7.2 Bn by 2031

Prefilled syringe sales are likely to expand 2x, registering a CAGR of over 10% until 2031

Increased reliance self-medication for chronic ailments is spurring demand for prefilled syringes

The prefilled syringes market in the U.S is expected to grow at a CAGR of 8%

Europe is poised to be the largest prefilled syringe market, estimated at US$ 1.04 in 2020

Asia is expected to generate a value of US$ 3.95 Bn by 2025, growing at 10.1% CAGR

Demand for glass-based prefilled syringes is expected to rise, accounting for 2/5th of global demand

Becton Dickinson & Company, Terumo Corporation and Baxter International Plc. are some prominent producers of prefilled syringes

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.