he global prefilled syringes market size is expected to reach USD 12.76 Billion in 2028 & register a significantly robust revenue CAGR over the forecast period
VANCOUVER, BC, CANADA, July 13, 2022 /EINPresswire.com/ — The global Prefilled Syringes Market will be worth USD 9.11 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rising prevalence of chronic diseases, such as Rheumatoid Arthritis, diabetes, and other autoimmune diseases. Increasing demand for biological drugs is expected to drive the growth of the market over the forecast period. The growing adoption of convenient self-injection devices is anticipated to fuel the demand for the prefilled syringes. Increasing investments in the research and development for the launch of new innovative prefilled syringe technologies is expected to fuel the industry’s growth over the forecast period. Besides, the emergence of technologically advanced pen injectors and auto-injectors has augmented the industry’s growth.
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Top competitors of the Prefilled Syringes Market profiled in the report include:
SCHOTT AG, Becton, Dickinson, and Company, Gerresheimer AG, West Pharmaceutical Services, Inc., Medtronic plc, Catalent, Inc., Shandong Weigao Group, Nipro Corporation, Unilife Corporation, and Vetter Pharma International GmbH., Others
The pandemic has both a positive as well as a negative effect on the healthcare industry. It has disrupted the supply chain and raw material supplies in the Healthcare industry. The increasing number of people affected by the virus has also led to an increase in demand for medical supplies like disposable syringes and injections. The rising demand for prefilled syringes is due to their reduced risk of needle-stick injuries. Besides, the growing requirement for the rapid production of vaccines has also resulted in the increasing demand for prefilled syringes. In order to meet the growing demand for medical supplies, manufactures have increased their production capacity. The manufacturers are adopting safety regulations and preventive measures without hampering the manufacturing process.
Key Highlights From The Report
In October 2019, Becton, Dickinson and Company launched a two-step-disposable auto-injector named BD Intevia ™ 1 ml. The device can combine prefilled syringe and auto-injector into one integrated system.
Disposable prefilled syringes held the largest market share of 59.5% in 2019 as home care settings and hospitals increasingly use them.
The Plastic segment is forecasted to grow with the fastest CAGR of 9.0% over the forecast period due to the increasing investments in the R & D of the plastic syringes by the manufacturers.
The Diabetes segment accounted for the largest market share in 2019 due to the increasing adoption of self-injection devices among diabetic patients.
Hospitals accounted for the largest market share in 2019 due to the increasing utilization of the prefilled syringes in emergency treatments by healthcare providers.
Europe dominated the market for Prefilled syringes in 2019 due to the presence of the key market players in the region and the increasing adoption of the technologically advanced injectable drug delivery devices.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the rising prevalence of chronic diseases and the growing geriatric population.
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Emergen Research has segmented the global Prefilled Syringes Market on the basis of Type, Material, Application, Distribution Channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Material Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Ambulatory Surgery Centers
Mail Order Pharmacies
Biotechnology & Pharmaceutical Companies
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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Key Objectives of the Report:
Analysis and estimation of the Prefilled Syringes market size and share for the projected period of 2020-2028
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Prefilled Syringes market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.