Yahoo Finance Prefilled Syringes Market Worth USD 15.74 Billion by 2030 at 11.7% CAGR - Report by Market Research Future (MRFR)
Prefilled Syringes Market Size, Trends and Growth Analysis by Material (Glass Syringes, Oil Siliconized Syringes, Baked on Silicone Syringes and Plastic Syringes), Type (Conventional Prefilled Syringes and Safety Prefilled Syringes), Design (Single-Chamber Prefilled Syringes, Dual-Chamber Prefilled Syringes and Customized Prefilled Syringes), End User (Hospitals/Clinics and Ambulatory Surgical Center) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa), Competitive Market Growth, Size, Share and Forecast to 2030
New York, USA, May 25, 2022 (GLOBE NEWSWIRE) -- Prefilled Syringes Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Prefilled Syringes Market Information by Material, Type, Design, End-User, and Region - Forecast till 2030”, the market is anticipated to reach close to USD 15.74 Billion by 2030 and thrive at a rate of approx. 11.7%.
Market Scope
Prefilled syringes can be described as single-dose packets of vaccine with a fixed needle. In the past, glass or metal syringes were more prevalent, however, the preference for plastic and disposable syringes has risen, since the needle is protected and is not reusable. This factor has propelled the demand for safe and convenient prefilled syringes in the healthcare sector over traditional glass vials used for packing parental drugs.
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Report Scope:
Report Attribute | Details |
2030 Market Size | USD 15.74 Billion |
CAGR | 11.7% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Material, Type, Design, End User and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | Rising Demand for self-injection and related devices |
Rising numbers, incidence and prevalence of various chronic |
Prefilled Syringes Market Competitive Landscape:
The important firms in the prefilled syringes market include
Gerresheimer (Germany)
SHL Medical AG (Switzerland)
Nipro Corporation (Japan)
SCHOTT AG (Germany)
Vetter Pharma International GmbH (Germany)
Oval Medical Technologies (UK)
West Pharmaceutical Services, Inc. (US)
YPSOMED (Switzerland)
Baxter International Inc (US)
Ompi (Italy)
Elcam Medical (Israel)
Catalent, Inc. (US)
Weigao Group (China)
Prefilled Syringes Market Drivers:
The surging use of biological drugs has favored the prefilled syringes industry to a large extent. Biologics help in the treatment of numerous chronic diseases. But biological drugs are known for their high sensitivity to temperature as well as environmental conditions. Interaction with any type of pharmaceutical container can give rise to undesirable substances. In response, prefilled syringes are progressively being used since these provide the correct dimension and do not allow the container to interact with the drug. Plastic is one of the most used materials for substances such as peptide drugs and pharmaceutical proteins. Plastics are flexible and do not have any breakage issues, which are generally associated with glass. Plastics also exhibit excellent adsorption properties. Manufacturers are increasingly going for plastic materials to administer drugs, instead of glass. Prefilled syringe combination products are some of the top trends, since these provide convenience to patients carrying out at-home self-administration, leading to considerable cost savings, especially compared to the clinical setting.
Prefilled syringe demand is further elevated by the mounting focus on the development of parenteral drugs along with their surging consumption worldwide. The market will also benefit from the patients’ heightened preference for self-administrated techniques, which reduces the dependency on healthcare professionals for frequent medicine doses. Soaring knowledge about prefilled syringes filling process and the mushrooming patient base opting for in-home settings over clinical settings in developed countries also enhances the market share.
Prefilled Syringes Market Restraints:
Prefilled syringes offer a high patient safety level by bringing down the chances of needle sticks as well as exposure to harmful products that can happen when drawing the medication from vials. However, a massive number of needle stick injuries are linked to the use of prefilled syringes in comparison to the ones with integrated safety systems. As of 2020, around 450,000 injuries took place in the US, with half of those occurring in hospitals. Moreover, as of 2020, around 1,500,000 injuries happened in Europe. In these cases, the contaminated needle present in the prefilled syringes can result in blood-borne infections, like HCV, and HIV.
The limited presence of advanced prefilled syringes integrated with safety features, in line with their challenging and expensive manufacturing procedure, can be a huge challenge for the players. However, this trend can change in the years to come, since the healthcare sector is focusing more on bringing down the number of needlestick injuries.
Browse In-depth Market Research Report (157 Pages) on Prefilled Syringes: https://www.marketresearchfuture.com/reports/prefilled-syringes-market-6167
Prefilled Syringes Market COVID-19 Analysis
Following the COVID-19 outbreak, the demand for prefilled syringes has risen more than that of glass ampoules or other types of needles owing to the lesser chances of needle-stick injuries. Therefore, to enhance the production of the COVID-19 vaccine, manufacturers have raised their production capacity of prefilled syringes. For example, the U.S. government is now part of a deal worth USD 138 million with major syringe developers to facilitate the manufacturing of 100 million prefilled syringes for COVID-19 vaccines.
The market participants are fostering their spending on raw materials as well as resources in the wake of mounting preference for home-based healthcare services. Healthcare workers are constantly responding to varied techniques of delivering the right care by adopting telemedicine, which brings down face-to-face interaction.
The emerging role of individual and community pharmacists in managing chronic conditions, along with the focus on medication adherence post the COVID-19 pandemic outbreak has lessened the burden on the healthcare systems. Overall, the COVID-19 impact on the prefilled syringes market has been relatively positive. This could be attributed to the soaring preference for prefilled syringes instead of glass ampoules.
Prefilled Syringes Market Segmentation
By Material
Materials highlighted in the study include plastic syringes along with glass prefilled syringes. The major glass prefilled syringe types in the market are silicone syringes and oil siliconized syringes.
By Type
Prefilled syringes are available in two types, namely conventional prefilled syringes as well as safety prefilled syringes.
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By Design
Design-based segments considered in the report are dual-chamber prefilled syringes, single-chamber prefilled syringes, as well as customized prefilled syringes.
By Application
Prefilled syringes have applications in ambulatory surgical centers as well as hospitals/clinics.
Prefilled Syringes Market Regional Insights
Europe is the market leader, thanks to the surging required for advanced healthcare facilities, huge spending on healthcare development, and mounting preference for home-based treatment. The European industry is also bolstered by the dramatic increase in cases of autoimmune diseases along with diabetes in Germany, France, and Italy. The burgeoning geriatric patient base that is highly prone to a number of chronic ailments bolsters the market worth as well.
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Racing ahead at the fastest rate, the APAC market benefits from the soaring deployment of plastic products in Japan coupled with the heightened focus on healthcare advancements. The APAC market further profits from the fast-rising number of public and private hospitals, accelerated diabetic cases in China and India, and the robust demand for high-quality drug delivery systems.
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