Prefilled Syringes Market Development Status and Opportunities Forecast to 2027
Category: #healthcare  By Ronak Bora  Date: 2021-03-31
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Prefilled Syringes Market Development Status and Opportunities Forecast to 2027

The global prefilled syringes market share is anticipated to witness a major upsurge in years to come, which is attributable to the strong demand for biological drugs due to the increasing incidences of autoimmune diseases, cancer, and other non-communicable disorders worldwide. Healthcare professionals and patients are gaining high awareness about the prefilled syringes advantages over traditional vials & syringe packaging systems.

Expanding regional healthcare and diagnostics sector are the major factors driving the demand for prefilled syringes in Asia Pacific. Rising incidences of chronic disorders coupled with technological advancements in prefilled syringes is positively influencing the business space in the region. According to the report, prefilled syringes market in Asia Pacific held a substantial market share of over 19% in 2020 and is expected to grow significantly in coming years.

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On the basis of product, the glass segment is poised to depict a CAGR of over 11% through 2027, owing to the rising prevalence of chronic conditions and accelerating adoption of durable glass prefilled syringes. The segmental growth will further be propelled by its capability to deliver highly viscous medications, along with its consistent gliding force. In April 2018, SCHOTT unveiled syriQ BioPure™, a prefilled glass syringe, designed to ensure the stability of sensitive drugs in relation to shelf life and low time-to-market, while making the process of administration highly convenient.

In terms of segmentation by design, the global prefilled syringes market from the single-chamber segment registered remuneration of more than $4.6 billion in 2020, which can be credited to its usage advantages as compared to vials, including simple storage and disposal, low drug waste during clinical trials, reduced material requirements, and optimized API with less overfill. The segmental expansion will also be bolstered by the surging demand for self-administered parenteral drugs driven by the strong prevalence of chronic diseases.

Based on application, the antithrombotic/thrombolytic therapy segment will exhibit nearly 12.5% CAGR through 2027, as a result of the increasing stroke incidences. According to the CDC (Centers for Disease Control & Prevention), around 795,000 U.S. citizens are suffering from stroke every year. Numerous companies are also showing more inclination towards prefilled syringe administration for prophylaxis or the treatment of venous thrombosis.

Key players operating in prefilled syringes market such as Baxter International, Becton Dickinson (BD), Stevanato Group, West Pharmaceutical Services, Catalent, Nipro, Debiotech S.A., Fresenius Kabi, SHL Group, etc. are focusing on implementing strategic initiatives for expanding their global footprint in the market. For instance, in 2019, Catalent announced the purchase of Bristol-Myers Squibb manufacturing facility based in Italy. Apparently, this strategic move allowed the company to strengthen its geographical presence.

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Partial Chapter of the Table of Content

Chapter 4   Prefilled Syringes Market, By Type

4.1    Key segment trends

4.2    Glass

4.2.1    Market size, by region, 2016 – 2027

4.3    Plastic

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

Chapter 6   Prefilled Syringes Market, By Application

6.1    Key segment trends

6.2    Diabetes

6.2.1    Market size, by region, 2016 – 2027

6.3    Rheumatoid arthritis

6.3.1    Market size, by region, 2016 – 2027

6.4    Anaphylaxis

6.4.1    Market size, by region, 2016 – 2027

6.5    Antithrombotic/thrombolytic therapy

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/prefilled-syringes-market

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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