Market Definition
Prefilled syringes, also known as pre-filled syringes or preloaded syringes, are single-use medical devices designed to hold a specific dose of medication or vaccine. These syringes come pre-filled with a predetermined and accurate quantity of the medication, ready for immediate use by healthcare professionals or patients. The syringe typically includes a plunger, needle, or needle cover, all pre-assembled and sterile.
Market Insights & Analysis: Global Prefilled Syringes Market (2023-28)
The Global Prefilled Syringes Market size was valued at USD 6.22 Billion in 2022 and is projected to grow at a CAGR of around 10.21% during the forecast period, i.e., 2023-28. The market growth is predominantly influenced by the expansion of the home-based healthcare industry, resulting in an increased demand for convenient drug delivery devices. The rising adoption of injectable drugs, particularly for chronic diseases, has further elevated the adoption of prefilled syringes, which offer numerous advantages over conventional vials, such as reduced risk of contamination and precise dosing, contributing to their growing popularity worldwide.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 10.21% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of the Middle East & Africa | |
| Key Companies Profiled | Abbott Laboratories, Bayer AG, Baxter International, Becton, Dickinson and Company Gerresheimer AG, Medtronic Plc, Nipro Corporation, Terumo Medical Corporation, Vetter Pharma International Gmbh, West Pharmaceutical Services, Inc, Unilife Corporation, Owen Mumford Ltd, Scandinavian Health Limited (SHL Group), Haselmeier AG, Schott AG and Others |
| Market Value (2022) | USD 6.22 Billion |
Technological advancements in prefilled syringes have also played a crucial role in propelling their market expansion globally. Continuous innovations have led to the development of feature-rich devices, ensuring safer & more convenient patient self-injections. However, despite these favorable factors, the market faces challenges in the form of stringent government regulations, alternative drug-delivery methods, and occasional product recalls, which impede its growth trajectory.
On the other hand, the market presents lucrative expansion opportunities. The increasing demand for biologics & biosimilars has created a favorable environment for the growth of the prefilled syringes industry, as these complex drugs often require precise & reliable delivery systems. Moreover, the rising preference for injectable drugs in prefilled forms further adds to the market's potential for growth in the coming years. Also, the impact of the COVID-19 pandemic has heightened the need for safe & reliable self-administration options, thus driving the market.
Global Prefilled Syringes Market Driver
Increasing Demand for Biological Drugs and Continuous Advancements in Injectable Delivery Solutions - The global prefilled syringes market is expected to experience significant growth on account of the rising demand for biological drugs and continuous innovations in injectable delivery solutions, catering to the mounting need for effective & convenient administration of biological medications, which have garnered significant attention from prominent pharmaceutical companies due to their potential to target diseases with limited or no existing treatment options.
Global Prefilled Syringes Market Possible Restraint
Frequent Recalls Caused by Impurities or Leakage in Syringes - The market growth for prefilled syringes, which are gaining popularity for complex biotechnology products, faces hindrances due to product recalls caused by their impurities or leakage. A notable incident occurred in July 2022 when Nephron Pharmaceuticals Corporation, a U.S.-based company, had to recall 20 prefilled syringes containing medicines like ketamine, epinephrine, and oxytocin. Concerns over the sterility assurance of syringes prompted the recall. These recalls lead to significant financial losses for pharmaceutical companies and erode consumer trust in the safety & efficacy of prefilled syringes.
Global Prefilled Syringes Market (2023-28): Segmentation Analysis
The Global Prefilled Syringes Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:
Based on Type:
In 2022, Disposable Prefilled Syringes dominated the market, accounting for the majority share, primarily due to their versatility in various applications. These syringes have gained popularity as they significantly reduce the risks of contamination. The prominent factor contributing to this demand is the avoidance of needlestick injuries, which are often caused by unsafe practices like multiple uses of a prefilled syringe & needle without adhering to the preventative guidelines outlined by healthcare professionals.
While traditional disposable prefilled syringes are designed to protect the recipient, they may need to address patient safety concerns fully. As a result, there has been a growing emphasis on patient safety, leading to a higher preference for disposable devices in both hospitals & home care settings. This shift in preference is expected to be a significant driver for the continued demand for disposable prefilled syringes during 2023-28.
Based on Material:
Of both, Glass Prefilled Syringes hold a dominant position in the global market, accounting for most of the total revenue share. Based on the current market outlook, glass syringes are considered the preferred choice for in the medical field. Healthcare professionals find them easy to use and rely on them to detect particulate impurities. The clarity & inertness of glass guarantee the purity of the administered dose, making it a trusted option for medical practitioners.
Utilizing bulk sterilization and reusing glass syringes leads to significant cost reductions, thereby increasing profit margins for manufacturers. Numerous strategic partnerships that aim to offer pharmaceutical industries a novel & distinctive solution for administering injectable medicines through prefilled syringes are also driving the market.
Global Prefilled Syringes Market (2023-28) Regional Projection:
Geographically, the Global Prefilled Syringes Market expands across:
Of all regions globally, Europe will lead the prefilled syringes market with the highest market share during 2023-28. It owes principally to the increasing prevalence of chronic diseases, resulting in an escalating demand for prefilled syringes, the considerable presence of leading market players, and the availability of advanced healthcare facilities staffed by well-trained medical professionals.
On the other hand, the Asia-Pacific Prefilled Syringes Market is anticipated to thrive in the coming years on account of the strengthening of the region's healthcare infrastructure and the mounting prevalence of various chronic & lifestyle-related disorders, coupled with numerous healthcare reforms and the establishment of numerous hospitals equipped with advanced tools. Also, with the rising R&D investments and the growing application of cutting-edge technologies in prefilled syringes, several countries in the region, particularly India, are anticipated to experience substantial growth in the prefilled syringes market in the years to come.
Global Prefilled Syringes Industry Recent Developments:
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Frequently Asked Questions
A. The Prefilled Syringes Market is projected to grow at a CAGR of around 10.21% during 2023-28.
A. The Prefilled Syringes Market size was valued at USD 6.22 Billion in 2022.
A. The increasing demand for biological drugs and continuous advancements in injectable delivery solutions are the prime aspects projected to drive the Prefilled Syringes Market through 2028.
A. Disposable Prefilled Syringes attained the majority of the Prefilled Syringes Market share.
A. Abbott Laboratories, Bayer AG, Baxter International, Becton, Dickinson and Company Gerresheimer AG, Medtronic Plc, Nipro Corporation, Terumo Medical Corporation, Vetter Pharma International Gmbh, West Pharmaceutical Services, Inc, Unilife Corporation, Owen Mumford Ltd, Scandinavian Health Limited (SHL Group), Haselmeier AG, and Schott AG are the major leaders in the Prefilled Syringes Market.
A. Globally, Europe would provide lucrative prospects for the Prefilled Syringes Market in the years ahead.
A. Frequent recalls caused by impurities or leakage in the syringes may impede the Prefilled Syringes Market growth through 2028.
Global Prefilled Syringes Market Research Report (2023-2028) - Table of Contents
