Prefilled Syringes Market worth $8.6 billion by 2025 – Becton, Dickinson and Company (US) and Gerresheimer (Germany) are Leading Players

PUNE, India, 2021-May-20 — /EPR Network/ — The report “Prefilled Syringes Market by Type [Conventional (Disposable, Reusable), Safety], Material (Glass, Plastic), Design (Single-Chamber, Dual-Chamber, Customized), Application (Diabetes, Cancer, Arthritis, Anaphylaxis, Ophthalmology) – Global Forecast to 2025″, is estimated to be USD 5.6 billion in 2020 and projected to reach USD 8.6 billion by 2025, at a CAGR of 9.0%.

The Rising target disease population, rapid growth in generic products, rising adoption of self-medication and digitalization, affordable cost with increased efficiency, and technological advancements are the major factors driving the growth of the prefilled syringes market. Furthermore, growing initiatives undertaken by leading market players to establish production facilities in both mature and developing markets are the key factors driving the growth of the prefilled syringes industry.

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Increasing adoption of self-administered injectable drugs is expected to result in the segment occupying the majority of the market share

The conventional prefilled syringes market is estimated to have the largest market share by value. Growth of this segment can be attributed to the the advantages offered, such as safe administration, ease of use for both healthcare professionals and end users, reduced risk of contamination of the product, less waste of costly API, ease of manufacturing, improved dosing accuracy, and enhanced product differentiation when compared to vials is expected to drive the market growth

Geographical View in-detailed:

Europe is one of the major revenue-generating regions in the prefilled syringes market. Rising prevalence of chronic diseases, growth of the biologics and biosimilars market, technological advancements, geographical expansion by key manufacturers, aging population, and high adoption of self-injection devices are driving the demand for self-injectable prefilled syringes. are the major factors driving the growth of the syringes market in Europe.

Global Key Leaders:

Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), and West Pharmaceutical Services, Inc. (US) are the key players in the global prefilled syringes market.

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Becton, Dickinson and Company (US) held the leadership position in the global prefilled syringes market with a share of 37.2% in 2019. The company’s dominant position in this market can be attributed to its broad product portfolio of prefilled syringes, strong geographical presence, and wide customer base. The company primarily focuses on the strategy of product launch.

Gerresheimer (Germany) held the second position in the global prefilled syringes market, with a share of 13.3% in 2019. The company’s customer base includes a large number of global blue chip pharmaceutical and healthcare companies (Sanofi, Bayer, AstraZeneca, Novo Nordisk, Johnson & Johnson, and Novartis). To maintain its position in the market, the company focuses on the strategies of product launches and partnerships.

SCHOTT AG (Germany) held the third position in the market with a share of 10.7% in 2019. Over the past three years, the company adopted geographical expansions and product launches as its key business strategies.