- May 2021 |
- Medical Devices / Medical Device
Global Prefilled Syringes Market- By Type (Conventional and Safety); By Material (Glass and Plastic); By Design (Single-Chamber, Dual-Chamber and Customized); By Closing System (Staked Needle System, Luer Cone System & Luer Lock Form System); By Therapeutic Area (Anaphylaxis, Rheumatoid Arthritis, Diabetes, Autoimmune Disorders, Infectious Diseases, Neurological Disorders, Blood Disorders, Psychiatric Disorders, Respiratory Disorders, Cardiovascular Disorders, Metabolic Disorders, Ophthalmic Diseases and Others); By Distribution Channel (Hospitals, Mail Order Pharmacies and Ambulatory Surgery Centres);By End-User (Pharmaceutical & Biotechnology Companies, Contract Research & Manufacturing Organisations and Others); By Region (North America, Europe, the Asia-Pacific, Latin America and Middle-East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Global Prefilled Syringes Market- Industry Trends & Forecast Report 2027
The global prefilled syringes market was worth USD 5.31 billion in 2020. It is expected to grow at the CAGR of 8.5% during 2021-2027 (forecast period), earning revenue of around USD 9.40 billion by the end of 2027. This is due to rise in demand for efficient and easy-to-use drug delivery devices and rise in efforts of healthcare professionals to reduce human errors in drug delivery. Moreover, increase in adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations) are positively impacting the growth of global prefilled syringes market.
A “prefilled syringe” is generally a syringe which is filled with a fixed quantity of a therapeutic drug. These are novel devices which are used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility. These characteristics provide it an advantage over traditional systems of drug delivery, which requires glass or metal vials to store pharmaceutical drugs.
Source: BlueWeave Consulting
Global Prefilled Syringes Market Overview
The prefilled syringes make injections easy to use, accurate, and safe for both, patients and doctors. As the pharmaceutical industry seeks new and more suitable drug delivery techniques, pre-filled syringes have emerged as one of the fastest-growing options for unit dose medication. The key drivers responsible for the growth of the global prefilled syringes market are the rising concerns associated with needle stick injuries, as well as the advantages of prefilled syringes over conventional vials and syringe packaging systems. Furthermore, increased demand for point-of-care administration, as well as the growing prevalence of chronic and lifestyle-related disorders, are propelling the prefilled syringes market forward.
Global Prefilled Syringes Market Forecast and Trends
Rising Adoption of Customized Prefilled Syringes
The formulations for injectables are growing more complex. They require strict quality control in order to match customer requirements. Thus, manufacturers As a result, manufacturers have begun to focus on the development and production of prefilled syringes that may be used by individuals on their own. Therefore, the focus of syringe manufacturers across the globe is shifting toward self-managing dose syringes, rather than syringes used by hospitals or any other healthcare providers. These changes are proliferating the growth of prefilled syringes market.
Complex Manufacturing Process and Product Recalls