The global prefilled syringes market size is expected to reach a value of USD 22.5 billion by 2025
LONDON, August 1, 2018 /PRNewswire/ -- Prefilled Syringes Market Size, Share & Trends Analysis Report By Distribution Channel, By Type (Disposable, Reusable), By Material (Plastic, Glass), By Application (Diabetes, Anaphylaxis), And Segment Forecasts, 2018 - 2025
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The global prefilled syringes market size is expected to reach a value of USD 22.5 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 11.2% during the forecast years. Growing usage of prefilled syringes and technological advancements in auto-injectors are the key factors driving the market. Prefilled syringes are rapidly replacing traditional syringe-vial combinations due to advantages offered by them, such as increased patient safety and convenience for healthcare practitioners in dose preparation and delivery.
These syringes enable easy management of chronic diseases, such as diabetes and rheumatoid arthritis, which is expected to boost the usage of autoinjectors and pen injectors during the forecast period.Thus, growing prevalence of diabetes and other chronic diseases would fuel the market demand over the next few years.
The introduction of advanced devices with Wi-Fi and Bluetooth connectivity facilitating effective management of patient health records is also expected to boost the product demand.
Application of prefilled injectors is currently limited to emergency rooms in hospitals and for the treatment of certain chronic diseases.These injection devices are considered ideal containers for vaccines and other biotech drugs, which otherwise tend to become unstable and react with the material of the container resulting in altered drug potency.
Rising preference for biotechnology drugs and emerging biotech sector presenting greater opportunities are expected to have a positive impact on the market development during the forecast period.
Further key findings from the study suggest:
• Currently, the use of glass prefilled syringes is greater than plastic syringes owing to high demand from healthcare professionals. Glass prefilled syringes are easy to use and lower the risks at the time of injection
• However, the plastic syringes are rapidly replacing glass syringes due to the advent of advanced, biocompatible materials, such as Polypropylene (PP) and crystal clear polymer
• Europe was the dominant regional market for prefilled syringes in 2015. High adoption of patient safety measures and presence of key companies are the factors responsible for its the region's growth
• On the other hand, North America is expected to witness the fastest growth rate during the forecast period due to rapid adoption of prefilled syringes in this region
• Major companies in the global market are Gerresheimer AG, Haselmeier AG, Nipro Medical Corporation, Unilife Corporation, Owen Mumford Ltd., Schott Group, Datwyler Pharma Packaging, and Becton, Dickinson and Company
• The market for prefilled syringe manufacturing is consolidated; however, new companies are bringing innovative technologies to this field, which can be used for the manufacturing of auto-injectors.
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