Research 2021, Prefilled Syringes Market Size Is Projected to Reach USD 11.94 Billion in 2028 while exhibiting a CAGR of 10.7%
Top Players Covered in the Prefilled Syringes Market Research Report are BD, Gerresheimer AG, AptarGroup, Inc., Helvoet Rubber & Plastic Technologies BV, West Pharmaceutical Services Inc., SCHOTT AG, Terumo Corporation, Nipro PharmaPackaging International and other key market players
Pune, India, July 19, 2021 (GLOBE NEWSWIRE) -- The global prefilled syringes market size was USD 11.94 billion in 2028 while exhibiting a CAGR of 10.7% between 2021 and 2028. This information is provided by Fortune Business Insights™, in its report, titled, “Prefilled Syringes Market, 2021-2028.” The report further mentions that the market stood at USD 5.28 billion in 2020. 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
- 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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Boosted Demand for Prefilled Syringes for Application in COVID-19 Vaccination
The influence of the COVID-19 on pharmacological packing is anticipated to be more distinct owing to the prompt manufacturing of coronavirus vaccinations. There has been a surging demand for such syringes rather than glass ampoules or any other supplementary needles on account of the diminished threat of needle-stick wounds.
Consequently, to boost the manufacturing of the COVID-19 vaccination, the producers are maximizing their manufacturing capability. For example, the U.S government has been involved in a deal worth USD 138 million with the producers of the syringe to empower and simplify the manufacturing process of 100 million prefilled syringes to be utilized for the COVID-19 vaccination by the end of the year 2020 and over 500 million for the year 2021.
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.
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Report Coverage
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.
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.
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Regional Insights
Europe held the largest prefilled syringes market share and dominated the market while accounting for USD 2.14 billion in 2020. The rising number of patients utilizing biologics as a cure selection for prolonged illnesses and robust implementation of progressive distribution approaches for self-injection of medications are the principal aspects that are probable to thrust the demand for prefillable syringes in Europe.
North America is expected to experience significant growth and hold the second-largest market share. This is due to the escalation in numerous enduring illnesses such as diabetes and rheumatoid arthritis, which is anticipated to augment the demand for chronic medicine management at a precise dose amount.
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.
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:
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Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
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Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
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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.)
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Global Prefilled Syringes Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
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Market Analysis, Insights and Forecast – By Material
- Glass
- Plastic
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Market Analysis, Insights and Forecast – By Closing System
- Staked Needle System
- Luer Cone System
- Luer Lock Form System
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Market Analysis, Insights and Forecast – By Product
- Complete Syringe Set
- Components & Accessories (Backstops, Plunger Stoppers, and Plunger Rods)
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Market Analysis, Insights and Forecast – By Design
- Single-chamber
- Double-chamber
- Multiple-chamber
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- Market Analysis, Insights and Forecast – By End User
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- Pharmaceutical & Biotechnology Companies
- Contract Research & Manufacturing Organizations
- Others
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Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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North America Prefilled Syringes Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
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Market Analysis – By Material
- Glass
- Plastic
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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
-
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- Pharmaceutical & Biotechnology Companies
- Contract Research & Manufacturing Organizations
- Others
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Market Analysis – By Country
- U.S.
- Canada
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TOC Continued…!!
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