Prefilled Syringes Market 2021 By Regional Players Gerresheimer, Stevanato Group, Baxter International, Catalent, Becton Dickinson (BD), Fresenius Kabi
The prefilled syringes market is expected to record expansive growth owing to rising cases of cancer, autoimmune ailments, and other noncontagious disorders worldwide. The need to treat such conditions have incited the demand for biological drugs, thereby creating growth opportunities for prefilled syringes suppliers. Healthcare professionals and patients are getting increasingly aware about the benefits of prefilled syringes.
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Multiple cases of contracting infection after getting injected using old syringes are being reported over the past few years. Defects in conventional syringes have created safety issues that have increased the demand for prefilled syringes.
Prefilled syringes are packaged and manufactured in a way that they cannot be reused. Additionally, the processes that are required for transferring drug from the vial is eliminated by prefilled syringes and it also helps in increasing dosage accuracy. With numerous technological advancements, prefilled syringes are becoming the preferred syringe type by doctors.
Intensifying technological advancements coupled with rising demand for injectable drugs for the treatment of patients with chronic diseases will lead to a higher implementation rate of prefilled syringes. Improved syringe packaging and increasing benefits of new prefilled syringes over old vials will spur the market growth in the anticipated time frame. As per a report, prefilled syringes market size is expected to surpass USD 12.7 billion by 2027.
The key business players working in prefilled syringes industry include Gerreshiemer, Fresenius Kabi, West Pharmaceutical Services, Baxter International, Nipro, SHL Group, Stevanato Group, Becton Dickinson (BD), Debiotech S.A., Catalent, and others.
Companies are constantly focusing on taking part in strategic initiatives for expanding its global reach. For instance, in June 2019, Catalent announced purchase of Bristol-Myers Squibb Manufacturing Facility in Italy to increase its geographical presence.
As per a report published by Global Market Insights, the Asia Pacific prefilled syringes market accounted for more than 19% market share in 2020. This growth is expected to be attributed to steady expansion of the healthcare and diagnostic industries. People are readily adopting self-injectable prefilled syringes. Rising cases of chronic disorders with technological advancements will further prove beneficial in supporting the demand for the prefilled syringe market in APAC.
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Prefilled syringes market is classified into rheumatoid arthritis, diabetes, anaphylaxis, antithrombotic/thrombolytic therapy among others based on application. The antithrombotic/thrombolytic therapy segment is projected to hold around 12.5% CAGR over the analysis period. Increasing cases of heart strokes are expected to drive segment growth. For instance, as per the Centers for Disease Control and Prevention (CDC), each year, over 795,000 people across the U.S. suffer from a stroke.
Partial Chapter of the Table of Content
Chapter 4 Prefilled Syringes Market, By Type
4.1 Key segment trends
4.2.1 Market size, by region, 2016 – 2027
4.3.1 Market size, by region, 2016 – 2027
Chapter 5 Prefilled Syringes Market, By Design
5.1 Key segment trends
5.2 Single chamber
5.2.1 Market size, by region, 2016 – 2027
5.3 Dual chamber
5.3.1 Market size, by region, 2016 – 2027
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Prefilled Syringes Market
Parenteral drugs are the second most preferred type of drugs after oral solid dosage forms and also holds second largest market share in terms of revenue in overall pharmaceutical market. Various benefits such as ease in administration, better patient compliance and 100% bioavailability are the few important factors that are expected to favor growth of the prefilled syringes market over the forecast period (2016–2024). Prefilled syringes segment is the one