Vancouver, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) -- The global prefilled syringes market is projected to gain USD 9.11 billion by 2027 at a steady growth rate of 8.9%, according to the latest report by Emergen Research. The global market growth is accelerated by the rising prevalence of chronic diseases like cancer, diabetes, and rheumatoid arthritis, the surging adoption of advanced biologic drugs, the emergence of safer self-injecting devices with accurate dosing, and the rising adoption of advanced drug delivery devices, such as auto-injectors and pen injectors. The global prefilled syringes market has gained massive traction over the past decades, owing to the rising concerns about the safety and efficacy of injectables, stringent government regulations regarding the use of prefilled syringes, such as the Needlestick Safety and Prevention Act (NSPA), the growing adoption of parenteral drugs, and increasing awareness about self-medication.
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Prefilled syringes are reusable or disposable syringes that are loaded with the specific drugs needed to be administered to a patient. Generally, prefilled syringes are sterile, single-dose medications available in an injection-ready format and are best suited for low-resource healthcare settings. At present, over one hundred drugs and vaccines are available globally in prefilled injection systems. Pegasys®, Humira®, Enbrel®, Lovenox®, Copaxone®, and Rebif® are some of the best examples of prefilled syringes. The advantages of using prefilled syringes, such as enhanced accuracy, improved safety, and easier handling, have further fueled the demand for them, thereby propelling the growth of this market. Moreover, the COVID-19 outbreak has led to an unprecedented demand for vaccines, with the leading healthcare giants around the world dynamically participating in the global race for vaccine development. Therefore, it has bolstered the demand for prefilled syringes for the administration of COVID-19 vaccines, and hence, fueled the global prefilled syringes market growth.
Key Highlights of the Report:
- Based on product type, the disposable prefilled syringes sub-segment accounted for the most considerable 59.5% market share in 2019. The growing usage of disposable prefilled syringes in hospitals and home healthcare settings is a key driver for this segment’s growth.
- In terms of application, the diabetes sub-segment emerged as the most dominant market segment in 2019, with the highest revenue share. The extensive adoption of prefilled syringes, mainly pen injectors, among diabetic patients for inoculating insulin doses.
- Among the key market regions, Europe led the global prefilled syringes market in 2019, retaining the largest market share. The emergence of technologically advanced drug delivery methods, the development of advanced biologics and biosimilar drugs, and the presence of several renowned market players in the region have prompted its market growth. However, the Asia Pacific region is foreseen as the fastest-growing market over the estimated timeline.
- The most prominent companies involved in the global prefilled syringes market are Becton, Dickinson and Company, SCOTT AG, Stevanato Group, Medtronic Plc, GERRESHEIMER AG, SHANDONG WEIGAO GROUP, Unilife Corporation, CATALENT, INC., WEST PHARMACEUTICAL SERVICES, INC., and NIPRO CORPORATION.
- In July 2020, the Indian pharmaceutical conglomerate Cipla received the U.S. FDA approval for its Icatibant injectable prefilled syringe that is indicated for the treatment of hereditary angioedema, a rare genetic disorder affecting adults.
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For the purpose of this study, the global prefilled syringes market is segmented on the basis of product type, material, application, distribution channel, and region:
By Product Type (Revenue, USD Billion; 2017-2027)
-
- Disposable
- Reusable
By Material (Revenue, USD Billion; 2017-2027)
-
- Plastic
- Glass
By Application (Revenue, USD Billion; 2017-2027)
-
- Diabetes
- Cancer
- Rheumatoid Arthritis
- Anaphylaxis
- Others
By Distribution Channel (Revenue, USD Billion; 2017-2027)
-
- Biotechnology & Pharmaceutical Companies
- Hospitals & Pharmacies
- Ambulatory Surgical Centers
- Others
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By Region (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of Middle East & Africa
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