Global Prefilled Syringes Market was valued at US$ 1,432.2 million in 2020 and is anticipated to reach US$ 3,301.1 million by 2027 displaying an elevated CAGR of 10% over the forecast period (2021-2027). A "prefilled syringe" is a syringe filled with a fixed quantity of a therapeutic drug. They are used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility which makes it more advantageous than traditional methods of drug delivery where glass or metal vials were used to store pharmaceutical drugs.
Some of the key factors anticipated to drive prefilled syringes market are rising demand for prefilled syringes are growing prevalence of chronic diseases such as heart diseases, diabetes, and autoimmune diseases, which require patients to self-administer medications, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations). Globally, in 2019, approximately 436 million adults (prevalence 9.3%) were suffering from diabetes, and it is expected to rise to 700 million (prevalence 10.9%) by 2045. Moreover, more than 1.1 million children and adolescents are living with type 1 diabetes (Source: International Diabetes Federation).
The increase in incidences of cancer globally owing to the increase in geriatric population has been one of the prime factors that augment market growth. In 2020, according to WHO, cancer was considered as the leading cause of death in the world. Nearly 10 million people die due to cancer each year, making it the second leading cause of death across the world. Nuclear medicine scans can help in finding tumors and to analyze how much the cancer has spread in the body (called the cancer's stage). They can also be used to determine whether treatment is effective.
Becton, Dickinson and Company, Pfizer Inc., Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., Terumo Corporation, B. Braun Melsungen AG, Cardinal Health Inc., Mylan NV, Gerresheimer, SCHOTT AG are some of the prominent players operating in the global prefilled syringes market. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced products.
Insights Presented in the Report
"Amongst type, safety prefilled syringes segment holds the major share"
Based on type the global prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. Among them, the safety prefilled syringes segment is expected to register the highest growing CAGR during the forecast period primarily which can be attributed to rising geriatric population globally and availability of biological therapies for patients with chronic conditions and outsourcing of low-risk medical procedures for chronic patients alleviates some of the pressure on hospitals.
"Amongst material, glass-based prefilled segment holds the major share"
By material, the global Prefilled Syringes Market is segmented into glass prefilled syringes and plastic prefilled syringes. The glass-based prefilled syringes market dominated the market in 2020 and is further predicted to maintain its dominance during the forecast period as well. At present, most prefilled syringes are made of glass. This is because most of the glass prefilled syringes allow delivery of highly viscous medications. Additionally, glass prefilled syringes can be utilized across a wide range of therapeutic areas, like blood stimulants, vaccines, and therapeutic proteins while increasing product life span that will positively boost the segmental growth.
"Amongst application, the diabetes segment holds the major share"
Based on application, the market is categorized into diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis, and others. At present, diabetes segment dominates the market and is expected to maintain its dominance during the analyzed period as well. This supremacy is ascribed to the fact that diabetes requires constant medications for treatment. Besides, rising prevalence of diabetes along with favorable demographic trends also increases demand for prefilled syringes with insulin that will prove beneficial for segment revenue.
"Europe signifies one of the largest markets of Prefilled Syringes market"
For a better understanding of the market dynamics of the Prefilled Syringes market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. Europe is slated to dominate the prefilled syringes market share during the forecast period on account of growing uptake of self-injectable drug devices and increasing preference for biological drugs for treating chronic diseases. In addition to this, growth of the biologics and biosimilars market, high adoption of patient safety measures, technological advancements and geographical expansion by key manufacturers are further driving the demand for self-injectable prefilled syringes in the region.
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- Deep dive regional level analysis of the industry
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A "prefilled syringe" is a syringe filled with a fixed quantity of a therapeutic drug. They are used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility which makes it more advantageous than traditional methods of drug delivery where glass or metal vials were used to store pharmaceutical drugs.
Some of the key factors anticipated to drive prefilled syringes market are rising demand for prefilled syringes are growing prevalence of chronic diseases such as heart diseases, diabetes, and autoimmune diseases, which require patients to self-administer medications, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations). Globally, in 2019, approximately 436 million adults (prevalence 9.3%) were suffering from diabetes, and it is expected to rise to 700 million (prevalence 10.9%) by 2045. Moreover, more than 1.1 million children and adolescents are living with type 1 diabetes (Source: International Diabetes Federation).
Based on type the global prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. Among them, the safety prefilled syringes segment is expected to register the highest growing CAGR during the forecast period primarily which can be attributed to rising geriatric population globally and availability of biological therapies for patients with chronic conditions and outsourcing of low-risk medical procedures for chronic patients alleviates some of the pressure on hospitals.
By material, the global Prefilled Syringes Market is segmented into glass prefilled syringes and plastic prefilled syringes. The glass-based prefilled syringes market dominated the market in 2020 and is further predicted to maintain its dominance during the forecast period as well. At present, most prefilled syringes are made of glass. This is because most of the glass prefilled syringes allow delivery of highly viscous medications.
In terms of design, the market is grouped into single-chamber prefilled syringes, dual- chamber prefilled syringes and customized prefilled syringes. Among them, the single-chamber prefilled syringes segment held the largest market share in 2020. This large share can be attributed to the significant advantages with the use of single-chamber prefilled syringes over vials, such as optimized API use with less overfill, reduced material requirements, less drug waste in clinical trials, and simple storage & disposal. Moreover, increasing adoption of self-administered parenteral drugs due to the increasing prevalence of chronic diseases and benefits offered by prefilled syringes is further contributing to the growing trend.
Based on application, the market is categorized into diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis and Others. At present, diabetes segment dominates the market and is expected to maintain its dominance during the analyzed period as well. This supremacy is ascribed to the fact that diabetes requires constant medications for treatment. Besides, rising prevalence of diabetes along with favorable demographic trends also increases demand for prefilled syringes with insulin that will prove beneficial for segment revenue.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. Europe is slated to dominate the prefilled syringes market share during the forecast period on account of growing uptake of self-injectable drug devices and increasing preference for biological drugs for treating chronic diseases. In addition to this, growth of the biologics and biosimilars market, high adoption of patient safety measures, technological advancements and geographical expansion by key manufacturers are further driving the demand for self-injectable prefilled syringes in the region.
Moreover, Asia Pacific region is anticipated to showcase high-paced growth on account of increasing prevalence of chronic diseases and a speedily growing patient population.
Some of the major players operating in the market include Becton, Dickinson and Company, Pfizer Inc., Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., Terumo Corporation, B. Braun Melsungen AG, Cardinal Health Inc., Mylan NV, Gerresheimer, SCHOTT AG.
Table of Contents
1.
Becton
Dickinson and Company
Pfizer Inc.
Fresenius Medical Care AG & Co. KGaA
Baxter International Inc.
Terumo Corporation
B. Braun Melsungen AG
Cardinal Health Inc.
Mylan NV
Gerresheimer
SCHOTT AG