Report Overview
Product Overview:
Prefilled Syringes Market size was USD 10.38 billion in 2021 and projected to grow from USD 12.7 billion in 2023 to USD 32.3 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period.
Prefilled syringes are injectable drug delivery system introduced to operate drugs via the parenteral route. Prefilled syringes are one of the effective drug delivery system to administer several injectable drugs like biologics and biosimilar which is expected to create demand for prefilled syringes. Prefilled syringes are easy to administer and assist in quick delivery of drugs. Several advancements in product are resulting in decreasing waste and including products to administer huge volumes of medications.
Market Highlights
Prefilled Syringes Market is expected to project a CAGR of 10.9% during the forecast period, 2022-2032
Prefilled Syringes Market is expected to reach USD 32.3 billion, growing at a CAGR of 10.9% during forecast period owing to the growing incidence of chronic diseases like autoimmune diseases, diabetes etc., requiring usage of prefilled syringes is expected to boost the growth of the market. The growing demand for biologics, new technologies in pre-fillable syringe to meet the demand for treating chronic disease may drive market growth. Rising product launches by market players is expected to drive the growth of the market.
Prefilled Syringes Market Segmentation:
Plastic Prefilled Syringes segment is expected to grow with high CAGR during the forecast period
Prefilled Syringes Market is classified based on the Material Type into Glass Prefilled Syringes, Plastic Prefilled Syringes. Glass segment dominated the market in 2021 owing to the robust barrier property of the glass which is used for manufacturing of prefilled syringes. The benefits of being compatible with several filling drug machines may also aid in the market growth. Plastic segment is expected to dominate the market due to the high preference of the glass ions to react with drugs and the fragile nature of glass which is to be altered with plastic and is expected to boost the growth of the market in the forecast period.
Single-Chamber Prefilled Syringes segment expected to grow with high CAGR during the forecast period
Prefilled Syringes Market is classified based on the Design into Customized Prefilled Syringes, Single-Chamber Prefilled Syringes, Dual- Chamber Prefilled Syringes. Single-chamber segment is expected to dominate growth in forecast period owing to the increasing technological innovations and the acceptance of double-chamber system which are efficient for preserving biological components which creates demand for growth of prefilled syringes market during the forecast period.
Market Dynamics:
Growth Drivers
Growing Developments in Prefilled Products is Expected to Boost the Growth of the Market
The demand for prefilled syringes containing biological products is increasing and several innovations related to injectable delivery system is expected to boost the growth of prefilled syringes market growth during the forecast period. The importance of biological drugs has increased as they aim in treating diseases with low treatment availability. The growing disease prevalence like autoimmune diseases, cancer, and other non-communicable diseases is expected to boost the growth of the market.
Increased Usage of Self-Injecting Devices May Boost the Market Growth
The use of prefilled syringes is increasing due to the self-injectable capability which serves as an easy way to administer parenteral drugs. Prefilled syringes are convenient and easy way of administration and assists in enhancing patient safety by reducing exposure to toxic products from vials. Prefilled syringes also help in reducing the dosage errors by increasing patient safety, therefore expected to boost the growth of the prefilled syringes market. This is creating the preference to adopt prefilled syringes by patients and healthcare professionals.
Restraint
Product Recalls May Restrain the Growth of the Market
Prefilled syringes are becoming popular due to their ease of operating, but the recall of product is expected to restrain the growth of the market during the forecast period owing to the leakage from syringes.
Recent Developments:
- In April 2021, Nipro Pharma Company widened their products by reporting that Nipro D2F pre- fillable syringes and Schreiner MediPharm Needle- Trap can be worked together.
- In October 2021, Becton Dickinson and Aptar Pharma collaborated by introducing BD SCF Premium Coat Plunger Stopperade to help pre-filled syringe biologics injection.
Prefilled Syringes Market
Key Players Covered:
- Bayer AG
- Abbott Laboratories
- Becton
- Baxter International
- Gerresheimer Ag
- Vetter Pharma International Gmbh
- Nipro Corporation
- Terumo Medical Corporation
- West Pharmaceutical Services, Inc.
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Prefilled Syringes Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe dominated the market of prefilled syringes in 2021 owing to the increased occurrence of chronic ailments, the advancements in technology and the emerging biologics and biosimilars market which resulted in creating demand for the growth of the market. Asia-Pacific is expected to dominate the market in the forecast period owing to the increasing hospitals with well-equipped instruments, improvement in healthcare infrastructure and development of R&D field which is expected to boost the growth of the prefilled syringes market in the forecast period.
Impact of Covid-19 on Prefilled Syringes Market
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. Due to the increase in manufacturing of vaccines, the market is expected to hike. There was an increased demand for prefilled syringes due to their ease of convenience compared to traditional vials. Covid-19 had a positive impact on the growth of the Prefilled Syringes Market.
Prefilled Syringes Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.
Prefilled Syringes Market Scope and Segments:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2021-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 10.9% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Product Type |
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Material Type |
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Closing System |
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Design |
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Application |
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End User |
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By Region |
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Frequently Asked Questions (FAQ):
Prefilled Syringes Market size was estimated at USD 10.38 billion in 2021 and is expected to reach USD 32.3 billion in 2032.
Prefilled syringes are injectable drug delivery system introduced to operate drugs via the parenteral route. Prefilled syringes are one of the effective drug delivery system to administer several injectable drugs like biologics and biosimilar which is expected to create demand for prefilled syringes. Prefilled syringes are easy to administer and assist in quick delivery of drugs. Several advancements in product are resulting in decreasing waste and including products to administer huge volumes o
Plastic Prefilled Syringes and Single-Chamber Prefilled Syringes segment accounted for the largest Prefilled Syringes market share.
Key players: Bayer AG, Abbott Laboratories, Becton, Baxter International, Gerresheimer Ag, Vetter Pharma International Gmbh, Nipro Corporation, Terumo Medical Corporation, West Pharmaceutical Services, Inc. and Other Prominent Players are the key players in the Prefilled Syringes Market.
Growing Developments in Prefilled Products and Increased Usage of Self-Injecting Devices are the factors driving the Prefilled Syringes market.
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