According to a new report published by Allied Market Research, titled, “Global Prefilled Syringes Market by Material, Design, Therapeutic, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global prefilled syringes market size was valued at $5,620.23 million in 2020, and is projected to reach $15,735.49 million by 2030, registering a CAGR of 10.8% from 2021 to 2030.
Healthcare professionals use prefilled syringes to administer fixed single-dose of drugs to the patient. Prefilled syringes are used to package a variety of drugs and diluents, such as therapeutic proteins, vaccines, and insulin. Some of the advantages of using these syringes over traditional syringes are ease of administration, elimination of dosing errors, and reduced risk of contamination.
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The major factors that drive the growth of prefilled syringes market are growth in home-based healthcare market, increase in adoption of injectable drugs, rise in incidence of chronic diseases that require frequent drug administration, benefits over syringe packaging systems, and surge in demand for point-of-care drug administration. However, the presence of alternative drug delivery means, the cost associated with the manufacturing of prefilled syringes, storage problem for these syringes, and stringent regulations set by government authorities impede the market growth.
Based on the material, the global prefilled syringes market is classified into glass-based and plastic-based. Glass-based segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to technological advancements in the prefilled syringes, increase in adoption of prefilled syringes, rise in incidence rate of chronic diseases, and rise in benefits of using prefilled syringes over conventional vials.
Based on the design, the global prefilled syringes market is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes, customized prefilled syringes. Single-chamber prefilled syringes segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period
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Based on application, the global prefilled syringes market is divided into anaphylaxis, rheumatoid arthritis, diabetes, and others (cancer, multiple sclerosis and others). The diabetes segment was the major contributor to the global market in 2020.
Prominent players operating in the Prefilled Syringes market include, Abbott Laboratories, Baxter International, Bayer AG, Becton, Dickinson and Company, Gerresheimer AG, Medtronic PLC, Nipro Corporation, Terumo Medical Corporation, Vetter Pharma International GmbH, West Pharmaceutical Services Inc..
Key Findings Of The Study
- On the basis of material, the glass-based segment held majority share in the global market in 2020.
- On the basis of design, the single-chamber prefilled syringes segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- By therapeutic, the large molecules segment held largest prefilled syringes market share in 2020, and is expected to remain dominant throughout the forecast period.
- On the basis of application, the diabetes segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 12.8% during the forecast period.
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