Selbyville, Delaware, Feb. 18, 2021 (GLOBE NEWSWIRE) --
According to latest report “Prefilled Syringes Market by Type (Glass, Plastic), Design (Single-chamber, Dual-chamber), Applications (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Antithrombotic/Thrombolytic Therapy), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of prefilled syringes will cross $12.7 billion by 2027. Rising occurrence of cancer, autoimmune diseases and other non-communicable disorders will surge the demand for biological drugs, thereby creating need for prefilled syringes.
Rising concerns regarding safety of injectable will spur the market growth over the forecast period. Since past several years, there has been various issues reported regarding the infections caused due to wrong handling of injectables. Also, defects in conventional syringes have created safety issues that has increased the demand for prefilled syringes. Prefilled syringes are manufactured and packaged in such a way that these syringes cannot be reused. Additionally, prefilled syringes eliminate the processes that are required for transferring drug from vial and increases dosage accuracy. Needle-stick injuries can be prevented as prefilled syringes simplify the application of injectables. With advent of technology, prefilled syringes have become more sophisticated and are highly preferred by doctors that positively impacts the market expansion.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1968
The glass segment in the prefilled syringes market will witness 11% growth rate till 2027 led by rising incidences of chronic disorders and escalating demand for durable glass prefilled syringes. Also, majority of glass prefilled syringes allow delivery of highly viscous medications, as it has consistent gliding force, surging its adoption rate. However, glass contains small amount of alkali that may cause a pH shift in some products, thereby limiting its preference.
Prefilled syringes market for single-chamber segment accounted for more than USD 4.6 billion in 2020 impelled by rising advantages associated with the use of single-chamber prefilled syringes as compared to vials, including reduced material requirements, simple storage & disposal, less drug waste in clinical trials and optimized API use with less overfill. In addition, surging acceptance of self-administered parenteral drugs owing to increasing prevalence of chronic disorders along with benefits offered by prefilled syringes will significantly contribute towards the segment growth.
Antithrombotic/thrombolytic therapy application in the prefilled syringes market is estimated to attain a CAGR of 12.5% through 2027 propelled by increasing incidences of stroke. For instance, as per the Centers for Disease Control and Prevention (CDC), each year, over 795,000 people across the U.S. are suffering from stroke. Rising technological advancements leads to improvements in the drug delivery system. Several companies have prefilled syringe intended for use in prophylaxis or treatment of venous thrombosis. These prefilled syringes provide greater patient safety as well minimizes manufactures need to overfill medication unlike vials. Hence, growing availability of such advanced prefilled syringes for treatment of strokes will positively influence the market demand.
Asia Pacific prefilled syringes market held more than 19% of revenue share in 2020 on account of the rapid growth of diagnostics and healthcare industries. High adoption of self-injection devices will boost the demand for self-injectable prefilled syringes. Rising prevalence of chronic disorders along with technological advancements in prefilled syringes will prove beneficial for the market value.
Some of the eminent companies functioning in market include Baxter International, Stevanato Group, Becton Dickinson (BD), West Pharmaceutical Services, Debiotech S.A., Catalent, Nipro, Fresenius Kabi, SHL Group, Gerreshiemer and others. These industry leaders are focusing on expanding its global reach that helps the company increase its market share globally.
Request for customization of this research report @
https://www.gminsights.com/roc/1968
Some major findings of the prefilled syringes market report include:
- Rising awareness regarding the benefits of prefilled syringes among healthcare professionals and patients will fuel the market growth.
- Increasing number of biologics and biosimilars in the pharmaceuticals industry will eventually foster the industry progression.
- Growing technological advancements along with rising demand for injectable drugs for treatment of chronic ailments will lead to higher acceptance rate of prefilled syringes.
- Rising benefits of prefilled syringes over traditional vials and syringe packaging systems will spur the market expansion over the forecast period.
- Complications associated with prefilled syringes may hamper the overall industry revenue.
Table of Contents (ToC) of the report:
Chapter 3 Prefilled Syringes Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By design
3.4.3 By application
3.5 Pricing analysis, 2020
3.6 Contribution of CMOs to market, 2020
3.7 Trends in low volume prefilled syringes
3.8 Porter’s analysis
3.9 Competitive landscape, 2020
3.9.1 Company matrix analysis
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/prefilled-syringes-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.