Pre-filled syringes Market is Forecast to Touch USD xx Billion by 20xx, Growing at a CAGR of xx % During 2020 to 2027
Published | January 2021
According to Blueweave Consulting, the global pre-filled syringes market has reached
USD 2.86 Million in 2019 and is further projected to reach USD xx billion by 2027,
growing at a CAGR of xx% during the forecast period. The prefilled syringes are
widely favored as they aid in providing unit dose medication without any
chances of errors and misconduct. The rise of the prefilled syringes is there
because of their increasing applications or usages over the traditional
processes. Where a traditional process requires a skilled, medical practitioner
here the same work could get done by just any other able person, due to the
ease prefilled syringes or disposables provide.
The rise in the target disease’s population causing an accelerated and centered growth
Globally, in 2019 approx. 436 Mn adults were suffering from diabetes, and it is expected to rise to 700 Mn by 2045. And in a study carried out in the year 2017, by the National Institute of Environmental Health Science, 24 Mn people had conditions relating to Autoimmune disease in the U.S., hence both the scenarios create a larger base for the market in the upcoming forecast period.
Due to availability, application, and better product delivery, the prefilled syringes are preferred.
Since the evolution of medical science and pharmaceuticals, the major issue that still drives the market is the feasibility, packaging, availability of any healthcare, pharmaceutical, and medical and related products. And as the prefilled syringe is reliable, convenient, and efficient for drug regulation. Also, it eradicates the tiring task of drug transfer from vial to syringe then from syringe to patient. Furthermore, the presence of accurate pre-measured quantity in the prefilled syringe encourages patient compliance and in return is evident to reduce the potential waste as well.
Disposable prefilled syringes have a greater preference over reusable prefilled syringes
Based on the product type or type, the prefilled syringe market has two- Conventional and Safety. In which Conventional has sub-categories which are Disposable and Reusable, the disposable ones are more preferred over the disposable ones. Since they’re more hygienic, and safe to use in terms of spreading any given disease. Also, the reusable ones are often unproportioned on the dosage (if used by non-medical professional individuals), hence giving the prefilled syringes one more advantage.
Asia-Pacific to dominate the market in the forecast period
Rising healthcare, expenditure, and the constantly growing demand for biosimilars and biologics. Furthermore, the Asia Pacific region is anticipated to grow with the most pace, due to increment in technological advancements and injectable medicines, drugs, etc. All of this, for the treatment of growth in the number of chronic and lifestyle-related, diseases in developing countries such as India and China.
Leading players for the Global Prefilled syringe market are Becton Dickinson & Co., Gerresheimer, Baxter International, Medtronic, SCHOTT AG, West Pharmaceuticals, Vetter International, Unilife Corporation, Stevanato Group, and Terumo Corporation, amongst other prominent players.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Prefilled Syringe Market size & forecast. The report promises to provide recent technology trends of the Global Prefilled Syringe Market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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