New York, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The global Safety Prefilled Syringe System Market is expected to witness significant growth at a remarkable CAGR of 11.2% during the forecast period of 2023-2030. The factors such as the increasing research & development activities for disposable prefilled syringes, the rising prevalence of rheumatoid arthritis, and others are accelerating the demand for safety prefilled syringe systems, which, in turn, is boosting the market growth. In addition, the rising development of a new range of safety prefilled syringe system product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the safety prefilled syringe system market is poised for strong expansion and is expected to reach USD 15,173.58 Million by 2030. The market, which was valued at USD 6,531.84 Million in 2022, is predicted to grow at a compound annual growth rate of 11.2% during the period 2023-2030. The report highlights the increasing adoption of safety prefilled syringe systems in diabetes treatment, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the safety prefilled syringe system market.
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Safety prefilled syringe systems are deployed in diabetes treatment to administer the process of drug products. This ensures safer, quicker, and easier doses of diabetes medication for nurses and patients. The prime factors such as genetics, increasing cases of type 2 diabetes, and others are fostering the prevalence of diabetes at the global level. For instance, according to the recent statistics published by the International Diabetes Federation (IDF), approximately 537 million people at the global level were suffering from diabetes in 2021. Furthermore, it is projected that the prevalence of diabetes will reach 643 million in 2030 and 783 million in 2045, respectively. As a result, the increasing prevalence of diabetes is fueling the demand for safety prefilled syringe systems to ensure accurate dosages of medication. This prominent factor is accelerating market growth.
Likewise, the major players dealing in the safety prefilled syringe systems product range are increasingly investing in the technological innovations of safety prefilled syringe systems, which are ideal for anaphylaxis, rheumatoid arthritis, diabetes, and others. Hence, safety prefilled syringe systems manufacturers are continuously leveraging their technological potential to develop new products with updated technological advancements, thereby creating a potential opportunity for the global safety prefilled syringe system market growth in the coming years.
Global Safety Prefilled Syringe System Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 15,173.58 Million |
| CAGR (2023-2030) | 11.2% |
| By Product Type | Disposable Prefilled Syringes and Reusable Prefilled Syringes |
| By Application | Anaphylaxis, Rheumatoid Arthritis, Diabetes, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | BD, Gerresheimer, Nipro Corporation, Schott, Stevanato, Baxter BioPharma Solution, Rovi CM, Terumo, Catalent, and Taisei Kako |
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Global Safety Prefilled Syringe System Market Segmentation Details:
Based on Product Type, disposable prefilled syringes segment contributed the largest shares to the market growth in 2022. The prominent benefits of a disposable prefilled syringe include minimizing the risk of infection, eliminating cleaning or sharpening, cost-effectiveness, and many more. These benefits make disposable prefilled syringes an ideal option for medical personnel to reduce the risk associated with the spreading of blood-borne diseases. Thus, due to the above benefits, the adoption of disposable prefilled syringes is increasing in healthcare facilities, thereby fueling market growth.
Based on Application, the diabetes segment accounted for the largest market share in the year 2022. The benefits of a safety prefilled syringe system include lower costs due to fewer materials, less preparation, and easy storage & disposal. Thus, the safety prefilled syringe system leads to added convenience for healthcare personnel and patients suffering from diabetes as the syringes ensure easier self-administration and use during emergencies. Henceforth, the utilization of safety prefilled syringe systems is increasing for the treatment of diabetes, which, in turn, is fostering market growth.
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Based on Region, in the year 2022, Europe accounted for the largest share contribution to the market growth, owing to the increasing adoption of safety prefilled syringe systems in diabetes treatment. For instance, according to the International Diabetes Federation (IDF), in 2021, approximately 61 million in the European region were suffering from diabetes, which was 9.2% of the total European population. Also, the number of people suffering from diabetes in the European region will reach 67 million in 2030 and 69 million in 2024. Therefore, the rising prevalence of diabetes cases in the Europe region is fostering market growth.
Competitive Landscape
BD, Gerresheimer, Nipro Corporation, and Schott, are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of safety prefilled syringe systems. Further, the safety prefilled syringe system market is expected to grow steadily due to rising demand from diabetes applications, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing expansion of safety prefilled syringe system players in the international market is expected to increase the competition in the industry.
Recent Developments
- In May 2022, Terumo Pharmaceutical Solutions, a leading healthcare manufacturer in Belgium, introduced Luer Lock Silicone oil-free pre-fillable syringe named PLAJEX 0.5mL. The product is a type of safety prefilled syringe system for application in low doses. Hence, the launch of new products in the market will foster the overall market size growth in the upcoming years.
Key Market Takeaways
- Europe accounted for the highest market share at 35.50% and was valued at USD 2,318.80 million in 2022, and is expected to reach USD 5,415.45 million in 2030. Moreover, in Europe, Germany accounted for the highest market share of 22.36% during the base year of 2022.
- Based on product type, the disposable prefilled syringes segment accounted for the highest share contribution to the safety prefilled syringe system market statistics in 2022.
- In the context of application, the diabetes segment is expected to contribute significant shares to the growth of safety prefilled syringe system market statistics during the forecast period.
- Asia Pacific is expected to boost the market demand for safety prefilled syringe systems due to the increasing investments in new healthcare projects in countries such as India, Singapore, and others.
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List of Major Global Safety Prefilled Syringe System Market:
- BD
- Gerresheimer
- Nipro Corporation
- Schott
- Stevanato
- Baxter BioPharma Solution
- Rovi CM
- Terumo
- Catalent
- Taisei Kako
Global Safety Prefilled Syringe System Market Segmentation:
- By Product Type
- Disposable Prefilled Syringes
- Reusable Prefilled Syringes
- By Application
- Anaphylaxis
- Rheumatoid Arthritis
- Diabetes
- Others
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Frequently Asked Questions in the Safety Prefilled Syringe System Market Report
- What was the market size of the safety prefilled syringe system industry in 2022?
- In 2022, the market size of safety prefilled syringe system was USD 6,531.84 million.
- What will be the potential market valuation for the safety prefilled syringe system industry by 2030?
- In 2030, the market size of safety prefilled syringe system will be expected to reach USD 15,173.58 million.
- What are the key factors driving the growth of the safety prefilled syringe system market?
- The rising prevalence of diabetes is accelerating the demand for safety prefilled syringe systems, thereby fueling market growth at the global level.
- What is the dominating segment in the safety prefilled syringe system market by application?
- In 2022, the diabetes segment accounted for the highest market share of 31.02% in the overall safety prefilled syringe system market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the safety prefilled syringe system market?
- Europe accounted for the highest market share in the overall safety prefilled syringe system market.
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