Fort Collins, Colorado, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Prefilled Syringes Market size was valued at USD 20.4 Billion in 2022 and is expected to have a market size of USD 60.5 Billion by 2032 with a CAGR of 11.6%.
The prefilled syringes market is growing due to increased demand for biologics, drugs, monoclonal antibodies, and vaccines that require parenteral administration. These syringes provide an appropriate delivery method for patients.
A prefilled syringe is a premeasured single-dose vaccine packet or a drug assembled with a needle and sealed to maintain sterility and prevent leakages. It is widely used in healthcare, especially for patients with chronic conditions like diabetes who require regular injections. Prefilled syringes simplify the process and make it easier for doctors and patients.
Prefilled syringes come in two types: fixed dose and variable dose. Fixed-dose syringes have a specific amount of medication that cannot be adjusted. In contrast, variable-dose syringes have a flexible arrangement that can be easily adjusted with a broad range. Prefilled syringes offer better safety and the advantage of delivering an accurate dosage to patients, which reduces the risk of errors. These factors are expected to drive the prefilled syringes market worldwide.
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Segmentation Overview:
The global prefilled syringes market has been segmented into type, material, design, application, and region. Glass-prefilled syringes are the best choice for medication safety and sterility. They are highly compatible with various drugs and chemicals. Plastic syringes have a high chance of reacting with the medication and harming the patient. Single-chamber prefilled syringes are the easiest and safest choice for patients and doctors. They are designed for easy use and safety and are cheaper than other types of syringes.
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Prefilled Syringes Market Report Highlights:
- The global prefilled syringes market growth is anticipated at a CAGR of 11.6% by 2032.
- The prefilled syringes market is growing due to the demand for efficient and easy-to-use drug delivery devices and healthcare professionals' efforts to reduce hospital errors.
- Europe dominates the global prefilled syringes market, with countries like Germany, France, and the United Kingdom. This is due to Europe's history of healthcare innovation and research, well-established healthcare infrastructure, and leading healthcare industries involved in research and development.
- Some prominent players in the prefilled syringes market report include Becton, Dickson and Company, Thermo Fisher Scientific Inc., SCHOTT AG, Baxter International, Abbott Laboratories, West Pharmaceutical Services, Gerresheimer AG, Catalent, Inc., West Pharmaceutical Services, Bayer AG, etc.
Industry Trends and Insights:
- Bayer has launched its direct-seeded rice system, which reduces water use by up to 40%, GHG emissions by up to 45%, and farmers' dependence on manual labor by up to 50%. This aligns with Bayer's strategy to reform agriculture to produce more while restoring more.
- West Pharmaceutical Services, Inc. has opened a new manufacturing facility in Singapore to expand capacity and meet customer needs, investing over $350 million globally in 2023.
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Prefilled Syringes Market Segmentation:
- By Type: Conventional prefilled syringes, safety prefilled syringes
- By Material: Glass prefilled syringes, plastic prefilled syringes
- By Design: Single chamber prefilled syringes, dual chamber prefilled syringes, Customized prefilled syringes
- By Application: Diabetes, cancer, rheumatoid arthritis, thrombosis, ophthalmology and others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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