At a CAGR of 10.1% Prefilled Syringes Market projected to surpass $6.36 Billion | Impact of Covid 19 Detailed Analysis

PUNE, India, 2020-Jul-28 — /EPR Network/ —

The Increasing prevalence of chronic diseases, large patient population base, and benefits associated with prefilled syringes are the major factors driving the growth of this market. In addition, growing initiatives undertaken by leading market players to establish production facilities in both mature and developing markets are further aiding to the growth prospects of this market. However, product recalls, and low market presence of prefilled syringes with integrated safety features can hinder the growth of this market.

How the Market Growth looks like and Industry Segmentation?

The Prefilled Syringes Market is expected to reach USD 6.36 Billion, at a CAGR of 10.1% during the forecast period.

On the basis of material, the global market is divided into two broad segments, namely, glass prefilled syringes and plastic prefilled syringes. The glass prefilled syringes segment is expected to account for the largest share of the market. The growth of this segment can be attributed to the high use of glass in manufacturing syringes owing to its nonreactive nature and heat and chemical resistance.

On the basis of type, the prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. The conventional prefilled syringes segment is expected to account for the largest share during the forecast period. This growth can be primarily attributed to the comparatively low penetration of safety syringes.

On the basis of design, the market is further segmented into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. The single-chamber prefilled syringes is expected to command the largest share of the global market. The increasing adoption of self-administered parenteral drugs is the key factor responsible for the growth of the single-chamber prefilled syringes.

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Prefilled Syringes Market Major Growth Drivers:

• Technological Advancements
• High Prevalence of Chronic Diseases
• Benefits Associated With Prefilled Syringes
• Rising Adoption of Self-Injection Devices
• Implementation of Needlestick Legislations
• Product Lifecycle Management Through Device Customization

Target Audience:

• Prefilled Syringes Manufacturers, Suppliers, and Distributors
• Biotechnology Companies
• Hospitals
• Clinical Centers
• Pharmaceuticals Companies
• Medical Research Laboratories
• Consulting Firms

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Geographical Regions Mapped in Report:

Geographically, the global prefilled syringes market size is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe commanded a major share of the prefilled syringes. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the increasing demand for self-administered treatments and high penetration of self-injection devices, growing aging population, and increasing prevalence of diabetes.

Major Key Players Mapped in Research Report:

Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.) are some of the key players in the prefilled syringes market.