Prefilled Syringes Market Growth Analysis, Trends Forecast by Regions and Types to 2030

Posted on 2023-04-13 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 13, 2023 — /EPR Network/ —

Prefilled Syringes Industry Overview

The global Prefilled Syringes Market size is anticipated to reach USD 50.83 billion by 2030, expanding at a CAGR of 11.95% from 2022 to 2030, according to a new report by Grand View Research, Inc. Key factors driving the market expansion include technological advancements in auto-injectors and growing usage of prefilled syringes owing to its reduced prices per dose.

The current COVID-19 outbreak is expected to have a substantial impact on the industry. The pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. According to American Pharmaceutical Review in December 2021, COVID-19 vaccines are being created at an unprecedented rate in response to the worldwide pandemic. COVID-19 vaccination doses totaled 7.3 billion by November 9, 2021, with approximately 30.3 million doses provided daily.

As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulting in increased demand for prefilled syringes. For instance, in March 2022, Schott announced further investments in its pharma sector, including expanding its capacity in Hungary for prefillable glass syringe production. The increased capacity is likely to benefit the global market and provide greater supply security for major pharmaceutical corporations and contract manufacturing firms. As a result, due to the outbreak of coronavirus infection in 2020, sales of prefilled syringes increased globally.

Furthermore, emergency syringes used to treat some of COVID-19’s most significant side effects such as heart damage have historically been scarce. Despite the heightened demand during the outbreak, manufacturers provide various programs that identifies high-quality, protected supply bases for medications that are or could be added to the national drug scarcity list. For instance, in October 2019, Premier Inc. teamed up with Amphastar Pharmaceuticals, Inc. to provide phytonadione injection and emergency, pre-filled syringes of sulphate, dextrose, sodium bicarbonate, epinephrine, atropine, calcium chloride, and lidocaine to healthcare practitioners through its ProvideGx programme. These characteristics are projected to generate lucrative market growth prospects.

Prefilled Syringes Market Segmentation

Grand View Research has segmented the global prefilled syringes market on the basis of type, material, application, distribution channel, and regions:

Based on the Type Insights, the market is segmented into Disposable Prefilled Syringes and Reusable Prefilled Syringes.

The disposable prefilled syringes segment captured the largest market share with around 78.98% in 2021 owing to its wide applications. These devices reduce contamination risks which are projected to boost their demand.
The reusable prefilled syringes segment is expected to exhibit the fastest growth rate during the forecast period. Owing to the high prices of the devices and the advanced technology involved, companies are increasingly focusing on designing reusable devices, which will consequently save costs.

Based on the Material Insights, the market is segmented into Glass Prefilled Syringes and Plastic Prefilled Syringes.

The glass syringes segment dominated the market with around 53.27% of the revenue share. Currently, glass syringes are the gold standard in prefilled syringes.
The plastic syringes segment is anticipated to witness a considerable growth rate over the forecast period. Previously, plastic syringes were not preferred for most drugs because of the lack of clarity of the material and due to leaching-extracting problems that have adulterated the contents of the syringe.

Based on the Application Insights, the market is segmented into Anaphylaxis Rheumatoid Arthritis, Diabetes and Others.

The diabetes segment dominated the industry with around 53.75% of the revenue share. A large patient base, a growing prevalence of diabetes, and the need for effective and safer insulin delivery devices are some of the factors expected to maintain the dominance of this segment throughout the forecast period.
Other uses of prefilled syringes include vaccinesand other biotech drugs which usually are highly sensitive and vulnerable to alterations in their safety and stability due to their interaction with the material of the storage container.

Based on the Distribution Channel Insights, the market is segmented into Hospitals, Mail Order Pharmacies and Ambulatory Surgery Centers.

The hospital segment dominated the market holding a share of 52.39% in 2021 owing to increasing admissions of patients suffering from diabetes, cardiovascular diseases, and cancer. Hospitals are primary users of these syringes due to their wide range of applications.
Mail order pharmacies segment is expected to exhibit the fastest growth rate during the forecast period. Mail order pharmacies help in serving patients suffering from chronic conditions such as diabetes and anaphylaxis.

Prefilled Syringes Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key players are involved in adopting strategies such as mergers & acquisitions, partnerships, and launching new products to strengthen their foothold in the market.

Some prominent players in the global Prefilled Syringes market include

Gerresheimer AG
Schott Group
Unilife Corporation
Nipro Medical Corporation
Owen Mumford
Haselmeier AG
BD & Others

Order a free sample PDF of the Prefilled Syringes Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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