Prefilled Syringes Market disclose Comprehensive Insights – Cost Structure, Top Market Players, Key Region, Latest Technologies, Challenges to market Growth

According to research on prefilled syringes by Fact.MR, the global market for prefilled syringes is expected to expand at a value CAGR of 9.6% during the period of forecast, 2017-2026. By end of 2026, more than 10,200,000 thousand units of prefilled syringes are expected to be sold across the globe in various healthcare facilities. Key companies involved in the global prefilled syringes market include Becton Dickinson and Company, Terumo Medical Corporation, Baxter International Inc., Medtronic and Gerresheimer.

Sale of Prefilled Syringes in North America to Remain at the Forefront, as Compared to Other Regions

According to Prefilled Syringes West Coast Conference held in 2017, the use of prefilled syringes in North America have gained high demand with increasing need for safety, patient satisfaction and high quality. Counters in North America, especially the United States, are reflecting higher expenditure on injectable drug delivery systems, for instance development of composite polymer prefilled syringes. These syringes have high break resistance. In addition the needle is attached with use of insert molding procedure, thus eliminating the use of tungsten and glue, increasing their sterilization levels.

The prevalence of chronic diseases in United States and Canada, according to analysis of American Heart Association, is increasing owing to increased use of tobacco and smoking. This has made it imperative for pharmaceutical companies in this region to develop novel biologics to fight against chronic disorders such as cancer. This is expected to fuel the adoption of efficient drug delivery systems such as prefilled syringes in the coming years.

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Key Highlights on the Global Prefilled Syringes Market:

• North America in terms of sale of prefilled syringes tops other regional market during the period of assessment. This regions, especially dominated by United States, has witnessed increased adoption of glass prefilled syringes owing to high presence of chronic disorders. On the other hand, Asia Pacific excluding Japan (APEJ) region is expected to showcase increased inclination towards these injectable drug delivery systems. Asia Pacific excluding Japan region has shown immense potential as a favorable market place for various end use industries owing to its huge business potential. This has increased the presence of various pharmaceutical industries in the region. Moreover, increasing population growth in China and India, along with aging population has raised the demand bar for prefilled syringes to inject drugs to treat diseases such as diabetes and other autoimmune disorders

• By material type, glass based prefilled syringes hold the highest market share and sales of glass based prefilled syringes is estimated to surpass U$ 7.5 Bn by end of 2026. However, owing to high fragile nature of these syringes, manufacturers have developed polymer based prefilled syringes that are also gaining high traction. Polymer based prefilled syringes have a comparatively higher break resistance and do not react with the drug they carry

• With respect to distribution channels, hospitals are the most lucrative. Sale of both glass and polymer based prefilled syringes from hospitals is estimated to reach a value of over US$ 6.5 Bn by end of the year of assessment. Online pharmacies and specialty clinics are also expected to significantly contribute to the growth of the global prefilled syringes market in the coming years

• By technology type, sale of conventional prefilled syringes is higher than safety prefilled syringes. However, rate of sales of safety prefilled syringes is expected grow at a higher pace than the conventional product during the period of forecast

• By function type, single chambered prefilled syringes have gained high steam since past years. This segment is expected to grow at higher rate during the period of forecast and the sale of single chambered prefilled syringes is estimated to reach a value of over US$ 8 Bn by end of the year of assessment (2026)

With increasing demand for efficient drug delivery systems, especially for injectable drug delivery, the need for innovative injectable drug delivery options has risen. Given the advantages of standalone drug injecting systems such as prefilled syringes, such as ease in use and enhanced safety, their demand is expected to increase at a high pace in the coming years.

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This release was published on openPR.