Pre-filled SyringesMarket is estimated to reach $7.6 billion by 2024: RRI Says
Syringe filled with fixed dosage of therapeutic drug is known as prefilled syringe. The devices are used for delivering drugs with efficient efficacy, accuracy, safety, convenience, sterility, affordability and accessibility. The above features make pre-filled syringes more advantageous than traditional methods of drug delivery. Moreover, prefilled syringe decrease contamination and possible dosing errors.
The technological advancements in the pre-filled syringes, increasing prevalence of chronic diseases, and large population base are the major factors driving the growth of the pre-filled syringes market. Furthermore, the key players are establishing production facilities in both developed and emerging markets which will further boost the growth of the market. However, the growth of the prefilled syringes is hindered with low awareness among consumers and few product recalls.
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The pre-filled syringes market is witnessing development of technologically advanced pre-filled syringes and growing usage of self-injection devices as major trends. For instance, in July 2015, Vetter introduced Vetter-Ject, a new closure system for its prefilled syringes. This syringe system is suitable for filling of highly sensitive drug molecules. Similarly, earlier, in April, 2015, SCHOTT lauched a new polymer pre-filled syringe design—SCHOTT TopPac. The design was aimed at improving the safety and stability of the sensitive drug molecules. Moreover, many pharmaceutical companies are focusing on bringing in advancements in self administration therapies. In this direction, in August, 2016, Mylan N.V., through its U.S. subsidiary, launched the first generic EpiPen Auto-Injector . Similarly, in July 2016, Bristol-Myers Squibb commercially introduced the ORENCIA ClickJect Auto injector.
The Global Prefilled Syringes Market was valued at $3.7 billion in 2017, and is estimated to reach $7.6 billion by 2024, registering a CAGR of 9.7% from 2018 to 2024.
Global Pre-filled Syringes Market: Segmentation
Single-chamber Prefilled Syringes
Dual-chamber Prefilled Syringes
Customized Prefilled Syringes
Others (Cancer, Multiple Sclerosis, and others)
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Geographically, the global prefilled syringes market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2017, Europe commanded a major share of the prefilled syringes market. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the increasing demand for self-administered treatments and high penetration of self-injection devices, growing aging population, and increasing prevalence of diabetes.
Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.) are some of the key players in the prefilled syringes market.