According to the new market research report “Prefilled Syringe Market by type [Conventional (Disposable, Reusable), Safety], Material (glass, plastic), design (single chamber, double chamber, custom), application (diabetes, cancer, arthritis, anaphylaxis, ophthalmology) – Global forecast until 2025 ″, published by MarketsandMarkets, is estimated at $ 5.6 billion in 2020 and is expected to reach $ 8.6 billion by 2025, at a CAGR of 9.0%.
Growing target population for the disease, rapid growth of generics, increasing adoption of self-medication and digitalization, affordable costs with increased efficiency, and technological advancements are the major factors driving the growth of the market. In addition, the increasing initiatives undertaken by major market players to establish production facilities in mature and developing markets are the key factors in the growth of the Pre-filled Syringe industry.
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The pre-filled syringe market includes major Tier I and II vendors such as Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany) and West Pharmaceutical Services, Inc. (US) and Nipro Corporation (Japan). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has also had an impact on their businesses. Routine care for chronic diseases is an ongoing challenge amid the global COVID-19 pandemic due to the shift from routine care to virtual communication. Diabetes, chronic obstructive pulmonary disease and hypertension were the most affected conditions due to reduced access to care. Additionally, currently most of the world’s healthcare resources are focused on coronavirus disease (COVID-19), and this reallocation of resources is expected to disrupt the continuum of care for chronically ill patients.
The growing adoption of self-administered injectable drugs is expected to allow the segment to occupy the majority of the market share
The conventional pre-filled syringe market is estimated to hold the largest market share by value. The growth of this segment can be attributed to the advantages offered, such as safe administration, ease of use for healthcare professionals and end users, reduced risk of product contamination, less waste of expensive APIs , ease of manufacture, improved dosing accuracy, and increased product differentiation from vials are expected to drive the market growth.
Plastic Prefilled Syringes Believed To Be The Fastest Growing Market
Plastic pre-filled syringes are estimated to be the fastest growing segment in the pre-filled syringe market. The growth of this segment can be attributed to the increasing development of new polymers (which possess various physical and chemical properties such as high heat and fracture resistance, tolerance to freeze drying and exposure to nitrogen. liquid, high transparency and solvent resistance.
Europe is estimated to be the largest market due to the increasing prevalence of chronic diseases, growth in the market for biologics and biosimilars, technological advancements, geographic expansion of major manufacturers, aging population and the high adoption of self-injection devices are driving demand for self-injectable pre-filled syringes.
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Asia-Pacific Expected to Become World’s Largest Pre-filled Syringe Market
Asia-Pacific is estimated to be the fastest growing market for pre-filled syringes during the forecast period. The Asia-Pacific market is primarily driven by the growing demand for self-administered treatments, the high penetration of self-injection devices, the growing aging population, the growing prevalence of diabetes, and the huge patient population.
Becton, Dickinson and Company (USA), Gerresheimer (Germany), SCHOTT AG (Germany) and West Pharmaceutical Services, Inc. (USA) are the major players in the global market Prefilled Syringe Market.
Keywords: Prefilled Syringes Market
See the campaign: https://www.marketsandmarkets.com/Market-Reports/prefilled-syringes-market-16618331.htmlContact details: Mr. Ashish Mehra
Markets and Markets INC.
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Mr. Ashish Mehra
Markets and Markets ™ INC.
630 Dundee Road
Northbrook, IL 60062
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