Prefilled Syringes Market Overview, Leading Players, Growth and Forecast Report, 2030

The IDF projects that the population of diabetic adults aged 20-79 years will grow from 537 million in 2021 to 643 million by 2030, and 783 million by 2045. The organization further estimates that more than 1.2 million adolescents and children aged 0-19 years are currently living with type 1 diabetes. Additionally, the WHO states that chronic diseases kill approximately 41 million humans each year. The rising cases of lifestyle-associated and chronic diseases will create a huge requirement for prefilled syringes, for drug administration, worldwide.

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In addition, the escalating demand for injectable pharmaceutical products is expected to steer the prefilled syringes market at 6.8% CAGR during 2021-2030. The market was valued at $1,914.1 million in 2020, and it is projected to generate $3,646.7 million revenue by 2030. In contemporary times, therapeutic agents and vaccines are some of the highly demanded injectable pharmaceutical products. The WHO estimates that nearly 16 billion injections are administered every year. In comparison to multi-dose vials, prefilled syringes help reduce drug wastage and offer simpler drug administration.

Conventional and safety prefilled syringes are available in different designs - single-chamber, dual-chamber, and customized. In the recent past, single-chamber prefilled syringes were preferred over customized and dual-chamber syringes, owing to the less raw material requirement of the former. Syringes of different types are made of glass or plastic. In the coming years, glass-based prefilled syringes will be consumed in massive quantities as they prevent reactions between drug molecules and the syringe surface.

Currently, the prefilled syringes market is consolidated, with the presence of a few key players, such as Gerresheimer AG, Fresenius Medical Care AG & Co. KGaA, Shandong Weigao Group Medical Polymer Company Limited, and West Pharmaceutical Services Inc. Nowadays, these players are involved in numerous collaborations and partnerships to attain a significant position. For example, in November 2019, West Pharmaceutical Services Inc. partnered with SCHOTT AG to expand its Ready Pack system by adding glass products, such as pre-fillable glass syringes (syriQ), vial formats, and ready-to-use cartridges (cartriQ), of the latter.

According to P&S Intelligence, Europe was the dominant user of prefilled syringes in the years gone by. This was on account of the rising burden of lifestyle-associated and chronic diseases and the surging public awareness about safe injectable technologies in the region. In 2021, there were 61 million diabetic patients in the age group 20-79 years in the European region, as per the IDF. Moreover, the soaring healthcare expenditure will also result in the high volume adoption of prefilled syringes in Europe.

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On the other hand, the APAC prefilled syringes market is expected to exhibit the fastest growth throughout this decade, owing to the mounting healthcare spending in major Asian countries, growing prevalence of chronic illnesses, and burgeoning aging population. The UN ESCAP estimates that the number of people aged 60 years or more in the region will surge from 630 million in 2020 to approximately 1.3 billion by 2050, representing around one-quarter of the total APAC population.

Thus, the increasing incidence of chronic and lifestyle-associated diseases and the surging demand for injectables will result in the widescale adoption of prefilled syringes, globally.

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