The rising demand for prefilled syringes can be attributed to the growing prevalence of chronic diseases, technological advancements, rising adoption of self-injecting parenteral devices, and implementation of needlestick legislation.
Development of technologically advanced prefilled syringes and growing adoption of self-injection devices are the major trends in the prefilled syringes market. Key players in the prefilled syringes market are focusing on expanding their product portfolio with technologically advanced products in order to cater to the growing demand of these devices across the globe.
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The global prefilled syringes market is expected to reach USD 6.36 Billion, at CAGR of 10.1%
Major Drivers For Prefilled Syringes Market:
· Technological Advancements
· High Prevalence of Chronic Diseases
· Benefits Associated With Prefilled Syringes
· Rising Adoption of Self-Injection Devices
· Implementation of Needlestick Legislations
· Product Lifecycle Management Through Device Customization
On the basis of material, the global prefilled syringes market is divided into two broad segments, namely, glass prefilled syringes and plastic prefilled syringes. The glass prefilled syringes segment is expected to account for the largest share of the market. The growth of this segment can be attributed to the high use of glass in manufacturing syringes owing to its nonreactive nature and heat and chemical resistance.
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On the basis of type, the prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. The conventional prefilled syringes segment is expected to account for the largest share during the forecast period. This growth can be primarily attributed to the comparatively low penetration of safety syringes.
On the basis of design, the prefilled syringes market is further segmented into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. The single-chamber prefilled syringes market is expected to command the largest share of the global prefilled syringes market. The increasing adoption of self-administered parenteral drugs is the key factor responsible for the growth of the single-chamber prefilled syringes market.
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Europe is expected to hold the largest share of the global prefilled syringes market, followed by North America. However, the Asia-Pacific market is expected to grow at the highest CAGR. Factors such as increasing demand for self-administered treatments, high penetration of self-injection devices, growing aging population, increasing prevalence of diabetes, and huge patient population are driving the growth of prefilled syringes in the Asia-Pacific region.
Becton, Dickinson and Company (U.S.), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.) are some of the key players operating in the prefilled syringes market.
