Fort Collins, Colorado, Oct. 23, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Polymer Prefilled Syringes Market size was valued at USD 7.2 Billion in 2022 and is expected to reach a market size of USD 16.6 Billion by 2032 at a CAGR of 8.8%.
Polymer-prefilled syringes are in high demand due to their cost-effectiveness and inert nature. They are made of inert polymers, making it less likely for certain sensitive drugs to have chemical interactions that could damage the product. This advantage has contributed to the growth of the global polymer-based prefilled syringe market. Additionally, the adoption rate of these syringes has increased due to their ability to eliminate the possibility of overfill of drugs by customers.
In developing countries, many customers still administer their therapies, which demands innovative installation design solutions to cater to the varying needs of customers. These efficient syringes provide just the required amount of medication, which will likely drive the demand for polymer-based prefilled syringes. Glass is considered more dominant than polymer due to the need for improved health concerns. Even though glass-prefilled syringe has more advantages over polymer-based prefilled syringes, polymer-based prefilled syringe demand is expected to grow because of the ease of handling and cost-effectiveness.
The glass-prefilled syringes market is anticipated to grow slowly compared to the polymer-based prefilled syringe market. Innovation in a polymer-based prefilled syringe for providing a superior moisture barrier can boost the net sales of this market. Although the polymer prefilled syringes market has grown, regulatory production and complex manufacturing processes are limiting factors. Additionally, environmental concerns with plastic products also restrict the use of these devices. Nonetheless, industry leaders are working on developing advanced materials that are disposable, recyclable, and appropriate for containing injectable drugs.
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Segmentation Overview:
The global polymer prefilled syringes market has been segmented into type, application, and region. Cyclic Olefin Polymer is driving the growth of the polymer prefilled syringes market due to its low native stress birefringence properties. Zeonex and Zeonor are two types of COPs, with Zeonex being more expensive but having a higher heat distortion temperature. Polymer prefilled syringes are also widely used for anti-infectives and biotech drugs for rheumatoid arthritis, multiple sclerosis, psoriasis, and Crohn’s disease.
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Polymer Prefilled Syringes Market Report Highlights:
- The global polymer prefilled syringes market growth is anticipated at a CAGR of 8.8% by 2032.
- The market for polymer prefilled syringes is experiencing growth due to the rising adoption of injectable drugs and the increasing incidence rate of chronic diseases. This growth is driven by the benefits offered by prefilled syringes over conventional vials.
- North America leads the market due to a strong healthcare infrastructure and high demand for injectable drugs, with the FDA playing a crucial role in shaping the market through approvals and guidelines. Major pharmaceutical and biotechnology companies in the United States.
- Some prominent players in the polymer prefilled syringes market report include Baxter International Inc., Biocorp Production, Enable Injections, Inc., Nipro Corp., SHL Medical, Shandong Weigao Group, Stevanato Group, Unilife Corporation, Ajinomoto Bio-Pharma, Inc., and Aptar Pharma (India) Pvt. Ltd among others.
Industry Trends and Insights:
- Ajinomoto Bio-Pharma Services has received FDA approval to manufacture a commercial product using their high-potency vial line. Viridian Therapeutics announced a partnership with Enable Injections to develop the enFuse wearable drug delivery system for volumes of up to 25mL.
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Polymer Prefilled Syringes Market Segmentation:
- By Type: COP (Cyclic Olefin Polymer), COC (Cyclic Olefin Copolymer), and Others
- By Application: Antithrombotics, Vaccines, Biologics, and Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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