WASHINGTON, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, The Global Prefilled Syringes Market is projected to reach a value of USD 10.59 Billion by 2030 and is expected to exhibit a CAGR of 8.70% from 2023 to 2030. The global Prefilled Syringes Industry is valued at USD 5.43 Billion in 2022.
The Prefilled Syringes Market is experiencing substantial growth in the projected timeframe due to an upsurge in chronic ailments, advancements in technology, and supportive governmental regulations. Additionally, the rising adoption of self-administered parenteral devices stands out as a significant catalyst propelling the expansion of the Prefilled Syringes Market. Moreover, increased awareness among healthcare practitioners and patients about the advantages of Prefilled Syringes, coupled with the escalating presence of biologics and biosimilars in the pharmaceutical sector, is a key driving force behind the market's growth trajectory.
Furthermore, the Prefilled Syringes Market is being positively impacted by continuous technological progress in this field. As pharmaceutical enterprises continue to develop more user-friendly and innovative drug delivery systems, Prefilled Syringes have emerged as one of the rapidly burgeoning preferences for unit dosage medications. This trend is expected to bring about profound changes in the Prefilled Syringes industry, potentially leading to a twofold growth rate throughout the projected period.
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Key Highlights:
- The largest segment of the prefilled syringes market in 2022 was the single-chamber prefilled syringes segment, with a revenue share of 56.2%.
- The growth of the prefilled syringes market is being driven by the increasing demand for injectable drugs, the rising prevalence of chronic diseases, and the growing popularity of needle-free injections.
- The second largest segment of the prefilled syringes market in 2022 was the complete syringe set segment, with a revenue share of 27.8%.
- The increasing demand for prefilled syringes in the pharmaceutical and biotech industries is also contributing to the growth of the market.
- The Asia Pacific region is expected to be the fastest-growing market for prefilled syringes during the forecast period, followed by North America and Europe.
Top Companies in Global Prefilled Syringes Market
- Becton
- Dickinson and Company
- Gerresheimer
- Nipro Corporation
- Schott AG
- Ompi
- Catalent Inc.
- Weigao Group
- West Pharmaceutical Services Inc.
- Baxter International Inc
- Vetter Pharma International GmbH
- Elcam Medical
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Market Dynamics: Prefilled Syringes Market
Prominent enterprises operating within the global prefilled syringes market are strategically focusing on organic growth tactics, primarily through the introduction of new products. This strategic approach is anticipated to play a pivotal role in propelling the expansion of the worldwide prefilled syringes market throughout the forecast period. A notable illustration of this strategy unfolded in October 2022 when Hikma Pharmaceuticals PLC, a renowned pharmaceutical firm, unveiled Succinylcholine Chloride Injection in the form of prefilled syringes (PFS). This innovation comprised U.S. FDA-approved prefilled syringes containing 100mg/5mL of the medication, aimed at enhancing the administration of the drug within the U.S. healthcare landscape.
The escalating prevalence of chronic and infectious diseases, including conditions like diabetes and cancer, which necessitate extended periods of medical care, constitutes a pivotal factor underpinning the market's growth trajectory. A notable reference comes from data released by the Centers for Disease Control and Prevention in July 2022, highlighting that a substantial proportion of adults in the U.S. were grappling with chronic ailments. The data revealed that approximately sixty percent of adults in the U.S. were affected by at least one type of chronic disease, with over forty percent being afflicted by two or more chronic conditions.
Top Trends in Prefilled Syringes Market
Diabetes, a chronic ailment characterized by the inability of the pancreas to produce sufficient insulin or the body's inability to effectively utilize the insulin it generates, prompts individuals to rely extensively on prefilled syringes for administering multiple insulin doses on a daily basis. The widespread utilization of prefilled syringes in diabetes management stems from their convenience and efficiency. This segment is poised to retain its prominence in the market landscape due to a multitude of factors that include a substantial patient base, an escalating prevalence of diabetes, and the pressing demand for insulin delivery mechanisms that are both effective and safe.
The upward trajectory of diabetes prevalence globally serves as a pivotal driving force for the expansion of the market. Diabetes represents one of the most significant global public health challenges, presenting considerable threats to both public health and socio-economic progress. According to data from the International Diabetes Federation (IDF), the year 2021 witnessed approximately 537 million adults aged between 20 and 79 living with diabetes. This trend is anticipated to persist and intensify, with projections indicating that the number of individuals afflicted by diabetes is set to reach 63 million by 2030 and a staggering 783 million by 2045, as stated by the same authoritative source.
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Global Prefilled Syringes Market Segmentation
By Type
- Conventional Prefilled Syringes
- Safety Prefilled Syringes
By Material
- Glass Prefilled Syringes
- Plastic Prefilled Syringes
By Design
- Single-Chamber Prefilled Syringes
- Dual- Chamber Prefilled Syringes
- Customized Prefilled Syringes
By Application
- Diabetes
- Thrombosis
- Ophthalmology
- Rheumatoid Arthritis
- Anaphylaxis
- Cancer
- Others
Challenges: Prefilled Syringes Industry
The global growth of the prefilled syringes market encounters significant challenges, prominently including instances of product recalls, potential interactions between drugs and prefilled syringe components, and related issues. A notable case that illustrates these challenges involves Novartis Pharmaceuticals UK, a prominent healthcare enterprise, which was compelled to initiate a recall of a specific batch of Lucentis 10 mg/ml solution for injection presented in pre-filled syringes during December 2021. The cause for this recall stemmed from a malfunction in the plunger stopper, resulting in customer complaints that highlighted the difficulty in depressing the plunger.
The challenges posed by inadequate healthcare funding persist in emerging nations, casting a detrimental impact on citizens' access to healthcare services, the quality of medical provisions, and, consequently, the overall health status of populations. A sobering observation by the World Bank reveals that a staggering 400 million individuals are deprived of fundamental healthcare services, primarily concentrated in regions such as Africa and South Asia. This stark reality underscores the urgent need for comprehensive interventions to bridge the healthcare gap and promote equitable access to medical care in these underserved areas.
Compounding these challenges are the escalating costs associated with medical treatments, a phenomenon commonly referred to as medical inflation. The burden of elevated medical expenses places substantial strain on healthcare systems, particularly in regions with limited financial resources. In parallel, there has been a notable upswing in the prevalence of non-communicable diseases that stem from lifestyle factors, such as cancer, diabetes, and cardiac ailments. These chronic conditions demand sustained medical attention and care, exacerbating the already existing funding gaps within healthcare systems.
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Recent Development
- July 2022: West Pharmaceutical Services, Inc. announced that it has expanded its manufacturing capacity for prefilled syringes in the United States. This expansion will help to meet the growing demand for prefilled syringes.
- August 2022: Owen Mumford announced that it received approval for its UniSafe 1mL safety device for pre-filled syringes in Asia. This safety device helps to prevent needlestick injuries.
- September 2022: Becton, Dickinson and Company (BD) introduced a new glass pre-fillable syringe (PFS) called the BD Effivax Glass PFS. This new PFS is designed to meet the complex and evolving needs of vaccine manufacturing.
Key Questions Answered in Prefilled Syringes Market Report
- What is the current market size and projected growth rate of the prefilled syringes market?
- What are the main factors driving the demand for prefilled syringes?
- What are the different types of materials used for prefilled syringes and how do they compare in terms of safety and compatibility?
- Who are the key manufacturers and suppliers in the prefilled syringes market, and what is their market share?
- What are the key trends and innovations in prefilled syringe design and technology?
- What are the regulatory requirements and standards governing the production and use of prefilled syringes?
- How is the prefilled syringes market segmented based on product type, application, and geography?
- What are the challenges and opportunities in the prefilled syringes market, including factors such as storage and transportation?
Regional Analysis
The North American region is poised to exert its dominance over the prefilled syringes market. This prominence is attributed to the strategic endeavors of market participants within the region, who are actively pursuing approvals for new pre-filled safety syringes from regulatory bodies and introducing innovative pre-filled safety syringe products. A compelling illustration of this trend was witnessed on March 2, 2023, when Nexus Pharmaceuticals Inc., a prominent pharmaceutical firm, secured the prestigious approval from the U.S. Food and Drug Administration (FDA) for its single-dose prefilled syringe Emerphed (ephedrine sulfate injection). This newly sanctioned injection, available in strengths of 25mg/5mL and 50mg/10mL, stands indicated for addressing clinically significant hypotension that arises within the context of anesthesia.
The Europe region, a similar trajectory is expected to unfold, positioning it as the second-largest market segment throughout the forecast period. This projection is substantiated by the notable surge in facility expansions and investments orchestrated by market players to bolster the development and production of prefilled syringes. An exemplar of this trend emerged in October 2022, when Recipharm, a distinguished global contract development and manufacturing organization (CDMO), directed investments into the establishment of a new high-speed filling line dedicated to pre-filled syringes and cartridges.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 5.43 Billion |
| Revenue Forecast by 2030 | USD 10.59 Billion |
| CAGR | 8.70% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Becton, Dickinson and Company, Gerresheimer, Schott AG, West Pharmaceutical Services Inc., Baxter International Inc, Ompi, Catalent Inc., Weigao Group, Vetter Pharma International GmbH |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options: https://www.vantagemarketresearch.com/prefilled-syringes-market-1646/customization-request |
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