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Benefits of Prefilled Syringes over Traditional Vials and Syringes Driving Prefilled Syringes Market

04-10-2020 09:17 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Benefits of Prefilled Syringes over Traditional Vials

In 2017, the global prefilled syringes market reached $4.7 billion and is projected to register an 8.3% CAGR during the forecast period (2018-2023). The market is growing because of the extensive pipeline of injectable drugs, rising demand for injectable pharmaceutical products, expanding pharmaceutical industry, increasing prevalence of chronic and lifestyle associated diseases, surging requirement for point-of-care administration, benefits of prefilled syringes over conventional vial and syringe packaging systems, regulations associated with needlestick injuries, and technological advancements. A single dose of disposable syringe containing parenteral drug filled by the manufacturers is called prefilled syringe.

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When material is taken into consideration, the prefilled syringes market is divided into plastic and glass. Between these two, the glass syringes dominated the market during the historical period (2013-2017) and are further predicted to account for the major share of the market during the forecast period. The plastic syringes are projected to grow at the faster CAGR of 9.0% during the forecast period due to the introduction of innovative polymers, including crystal-clear polymer and polypropylene, which are biocompatible with other components of the prefilled syringes.

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The surging prevalence of chronic and lifestyle associated diseases is among the primary driving factors of the prefilled syringes market. The prevalence of diseases including cancer, cardiovascular diseases, diabetes, and respiratory diseases is increasing because of lack of access to preventive care and changing lifestyle, particularly in developing countries. Attributed to this surging patient base, the manufacturers are increasingly focusing on the development of several types of prefilled syringes with varied doses and drug composition for the treatment of these diseases, which is resulting in the growth of the market.

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A key trend being witnessed in the prefilled syringes market is the growing adoption of customized prefilled syringes. Injectable formulations require stringent quality control for meeting the requirements of customers. The manufacturers have started focusing on the development of prefilled syringes which can be utilized by individuals on their own. The focus of manufacturers is thus shifting from syringes utilized by hospitals or other healthcare providers to self-administration dose syringes. These syringes are customized, and thus are designed according to the medication and dosage needed by the patient.

Hence, the market is registering growth due to the benefits of prefilled syringes over conventional syringes and increasing prevalence of chronic and lifestyle associated diseases.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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