Prefilled Syringes Market Size Share - Emerging Evolution, Advancement, Industry Trends and Forecast 2018 - 2026 | Becton Dickinson & Co., Gerresheimer, Baxter International, Medtronic, SCHOTT AG

The research report Prefilled Syringes Market Analysis 2020 provides an estimate of the market size from 2020 to 2026 in terms of value and volume. It also includes a full assessment of key market segments and Prefilled Syringes Market shares with the latest Trends and technologies used in the energy industry, as well as an instructive overview of the vendor landscape and geographic expansion of the market. The research study examines the Prefilled Syringes Market based on a number of criteria such as Product Type, Application and geographic extent. The market shares of these segments are formulated in such a way that they offer readers of the Prefilled Syringes Market an opportunistic Roadmap.

Prefilled syringes are one of the fastest growing choices for unit dose delivery and have emerged as one of the most convenient drug delivery methods in the recent years. The extensive use of prefilled syringes has enabled pharmaceutical companies to minimize drug-wastage and simultaneously increase the life-span of the product. Plastic disposable syringes created a revolution in the healthcare market which has been enhanced by the introduction of sterile, prefilled syringes that enable safe self-administration of injectable drugs without having to visit the hospital.

Key players operating in the global prefilled syringes market are Becton Dickinson & Co., Gerresheimer, Baxter International, Medtronic, SCHOTT AG, West Pharmaceuticals, Vetter International, Unilife Corporation, Stevanato Group and Terumo Corporation.

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According to National Center for Biotechnology Information (NCBI) 2014, 25% of expenditure on drugs is unused in the U.S. while 3-7% of medications intended for patients are unused. These massive revenues could be directed in a useful way with the use of prefilled syringes in the market that can improve shelf life of the drug and also prevent wastage as syringes are filled with the exact volume and concentration of the drug. Prefilled syringes can be advantageous for pharmaceutical companies in terms of the cost of biopharmaceuticals, as syringes can reduce overfilling of drugs compared to vials.

Market Dynamics

Growing adoption of self-injection devices are major factors that are expected to drive the prefilled syringes market growth over the forecast period. According to the World Journal of Pharmacy and Pharmaceutical Sciences, in 2016, more than 3.5 billion prefilled syringes were produced and used annually by patients and healthcare providers for treatment of a broad spectrum of conditions globally.

However, availability of alternatives such as nanopatches, microneedles, connected delivery devices, and limited shelf life and stability of drugs are major factors restraining the global prefilled syringes market growth.

The global prefilled syringes market size was valued at US$ 4,892.9 million in 2019, and is expected to witness a CAGR of 10.3% over the forecast period (2019–2027).

Increasing prevalence of chronic diseases globally is expected to drive growth of the Global Prefilled Syringes Market

There has been increasing prevalence of chronic diseases such as Type 1 Diabetes among a significant population across the globe. Patients with Type 1 Diabetes undergo regular intra-venous administration of insulin to control their sugar levels inability in natural insulin production. Owing to ease of administration, pre-filled syringes can make self-administration more convenient and viable. According to the International Diabetes Federation, in 2017 around 425 million adults (20-79 years) had diabetes, and around 4 million deaths occured globally due to diabetes.

Global Prefilled Syringes Market- Restraints

Growth of the prefilled syringes market is expected to be hampered over the forecast period owing to increasing FDA recalls. For instance April 21, 2017, the U.S. FDA recalled one lot of Hospira Inc.’s 25% Dextrose Injection, USP (Infant) due to particulate matter, identified as human hair, found within an internal sample syringe. Furthermore, in 2017 the U.S. FDA recalled one lot of Midazolam Injection, USP, 2 mg/2 mL packaged in 2 ml prefilled single-use glass syringes of Fresenius Kabi USA due to the labeling error.

Global Prefilled Syringes Market- Regional Insights

On the basis of region, the global prefilled syringes market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the prefilled syringes market over the forecast period owing to increasing prevalence of diabetes in the U.S. For instance, according to the Centers for Disease Control and Prevention, in 2015, around 30.3 million people in the U.S. were suffering from diabetes, accounting for 9.4% of the total population.

Asia Pacific is expected to witness rapid growth in the prefilled syringes market owing to increasing launches of prefilled syringes in India. For instance, in 2018 Hetero Healthcare launched a prefilled syringe, MaburaTM, for treatment of rheumatoid arthritis and other auto-immune disorders in the India market.

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Table of Contents

Introduction: The report starts off with an executive summary, including top highlights of the research study on the Prefilled Syringes industry.

Market Segmentation: This section provides detailed analysis of type and application segments of the Prefilled Syringes industry and shows the progress of each segment with the help of easy-to-understand statistics and graphical presentations.

Regional Analysis: All major regions and countries are covered in the report on the Prefilled Syringes industry.

Market Dynamics: The report offers deep insights into the dynamics of the Prefilled Syringes industry, including challenges, restraints, trends, opportunities, and drivers.

Competition: Here, the report provides company profiling of leading players competing in the Prefilled Syringes industry.

Forecasts: This section is filled with global and regional forecasts, CAGR and size estimations for the Prefilled Syringes industry and its segments, and production, revenue, consumption, sales, and other forecasts.

Recommendations: The authors of the report have provided practical suggestions and reliable recommendations to help players to achieve a position of strength in the Prefilled Syringes industry.

Research Methodology: The report provides clear information on the research approach, tools, and methodology and data sources used for the research study on the Prefilled Syringes industry.

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