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Dual Chamber Prefilled Syringes Market worth $182 million by 2025 | Nipro Corporation (Japan), Gerresheimer AG (Germany), Vetter Pharma (Germany), Credence Medsystems (US), MAEDA INDUSTRY (Japan), and Arte Corporation (Japan) are the key players

01-12-2021 02:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets.com

Dual Chamber Prefilled Syringes Market worth $182 million

The report "Dual Chamber Prefilled Syringes Market by Material (Glass and Plastic), Indication (Hemophilia, Schizophrenia, Endometriosis, Erectile Dysfunction, and Diabetes), Product (Liquid/Powder, Liquid/Liquid), and Region - Global Forecast to 2025 ", size is projected to grow from USD 131 million in 2020 to USD 182 million by 2025, at a CAGR of 6.8% between 2020 and 2025. The global dual chamber prefilled syringes market is witnessing growth because of the growing demand for drug delivery systems, with the growing pharmaceutical industry in the emerging economies. The increasing number of lyophilized drugs is another reason for the growing demand for dual chamber prefilled syringes, as this type of drug delivery system increases the life of the drug.

Browse 133 market data Tables and 36 Figures spread through 145 Pages and in-depth TOC on "Dual Chamber Prefilled Syringes Market - Global Forecast to 2025 "

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Hemophilia Indication segment estimated to lead the Dual Chamber Prefilled Syringes Market in 2019
The increasing number of patients diagnosed with hemophilia in North America and Europe and having better access to healthcare are expected to drive the demand for dual chamber prefilled syringes in this segment. Also, biologics is the only type of drug that is used for the treatment of hemophilia; this drug is lyophilized and is available only as injections.

Glass material is estimated to be leading segment for Dual Chamber Prefilled syringes
The property of glass to be non-reactive to drugs makes it the preferred choice of material for manufacturing the chambers of dual chamber prefilled syringes. Also, the price of glass syringes is relatively low compared to plastics. These factors will drive the glass in the dual chamber prefilled syringes market.

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North America is estimated to account for the largest share of the Dual Chamber Prefilled Syringes Market during the forecast period.
North America is projected to have the largest share in the global Dual Chamber syringes, in 2019. North America is driven by the US, with the country being the largest pharmaceutical market in the world. The high per capita income and better accessibility to healthcare in the US are expected to drive the dual chamber prefilled syringes market in North America.

Nipro Corporation (Japan), Gerresheimer AG (Germany), Vetter Pharma (Germany), Credence Medsystems (US), MAEDA INDUSTRY (Japan), and Arte Corporation (Japan) are the key players operating in the Dual Chamber syringes market. Expansions and new product development are the major strategy adopted players to enhance their positions in the Dual Chamber syringes market.

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Recent Developments :
• In March 2019, Gerresheimer made an investment for a new plant in Skopje, North Macedonia. The plant will manufacture plastic systems, such as prefillable syringes, and will start operating from the second half of 2020. This investment will reinforce the company’s strategy for the expansion of the production network in Europe.

COVD-19 Impact on the pharmaceutical industry supply chain :
Dual chamber prefilled syringes market is not directly impacted by the COVID 19, but disruption in supply is expected to have implications in the near future:

• COVID-19 pandemic has caused global havoc in the first half of the year, and the economic and social situation does not seem to recover till next year, at least. It has put millions of people around the world under lockdown and has killed more than 660,000 people so far. However, the pharmaceutical industry is gearing up to fight COVID-19, with rapid development for new drugs and vaccines. At the same time, the industry has suffered immense damage due to the pandemic, mainly through the disruption in the supply chain. In order to prevent the spread of the virus, various countries have gone under lockdown, which has disrupted the supply chain of the industry.
• China is one of the sources of Active Pharmaceutical Ingredients (APIs) and was also the epicenter of the COVID-19 outbreak initially. The country was put under lockdown quite early, which led to the stoppage of manufacturing and hence a decline in the export. Although China has now relaxed its restriction, there are many other countries that have implemented export control measure that has impacted the pharmaceutical supply chain
• The only positive impact of COVID-19 could be that companies will look to spread their production to different markets in order to prevent any future disruptions. According to Chemical & Engineering News, in April 2020, Senator Tom Cotton (R-AR) and Representative Mike Gallagher introduced the Protecting Our Pharmaceutical Supply Chain from China Act that calls for terminating purchases of active pharmaceutical ingredients from China by 2022. A similar trend was observed in Europe.
• As per Chemical & Engineering News, in May 2020, Evonik announced that it would invest USD 27 million to increase its active pharmaceutical ingredients production capacity at its Rosenheim and Hanau sites in Germany. The expansion has to be completed by 2021, with further expansion planned in 2024. Steps have been taken to increase the domestic supply of drug chemicals and also to reduce sourcing insecurities and overdependence on China for supply.

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