The Prefilled Syringes Market by Material is expected to reach $ 6.36 Billion, at a CAGR of 10.1%.
Factors driving the growth of this market include technological advancements in prefilled syringes, high prevalence of chronic diseases, the presence of a large patient population base, rising adoption of self-injection devices, and implementation of needlestick legislation.
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Prefilled Syringes Market by Material
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. Vetter launched Vetter-Ject, a new closure system for its prefilled syringes.
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The growing adoption of self-injection devices is further aiding market growth. This can be majorly attributed to the multiple benefits offered by them over syringes and vials. Self-injection devices comprise accurate dosage volumes and already reconstituted drugs, which help eliminate confusion regarding dosage volumes and wastage of drugs. These syringes are thus very beneficial in self-administration of drugs
Geographical Analysis For Prefilled Syringes Market by Material:
The global prefilled syringes market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, Europe commanded a major share of the prefilled syringes market. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the increasing demand for self-administered treatments and high penetration of self-injection devices, the growing aging population, and increasing prevalence of diabetes.
Major Key Players in the Prefilled Syringes Market:
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.)
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Prefilled Syringes Market’s Detailed Profile:
Becton, Dickinson and Company (U.S.) portfolio include a wide range of prefilled syringe products, namely, BD Neopak, BD Neopak XSi, BD Sterifill, BD Uniject SCF, and BD Soluvia. Over the past three years, the company adopted new product launches as its key strategy to maintain its leadership position in the global market.
