Prefilled Syringes Market will grow at a CAGR of 10.34% from 2023-2029, due to self-administration trends, regulatory support, the aging population, and sustainable packaging solutions
26 Jun, 2023

According to Renub Research latest report, "Global Prefilled Syringes Market, Size, forecast 2023-2029, Industry Trends, Share, Growth, Company Analysis," Global Prefilled Syringes Market size is estimated to be around US$ 15.63 Billion by 2029. A prefilled syringe is a disposable syringe that comes pre-loaded with an injectable substance. Previously, metal or glass syringes were chosen. However, disposable, and plastic syringes are becoming more popular, as they protect the needle and prevent it from being reused (prefilled disposable systems). Prefilled syringes have gained popularity as a safe, quick, and easy method of drug delivery. They are in high demand in the medical industry, surpassing traditional glass vials for packaging parenteral drugs. Small molecule prefilled syringes are increasingly used in healthcare settings, including by patients for self-administration in chronic diseases like diabetes and asthma. They are widely used in hospitals, clinics, and home healthcare, providing convenient options for administering medications to patients who need regular injections but cannot visit healthcare facilities.

Prefilled syringes are commonly used to treat chronic diseases such as diabetes, heart disease, and autoimmune conditions, which require patients to self-administer specifics. As a result, the increasing prevalence and frequency of chronic and living conditions around the world is a significant factor contributing to the growth of the global prefilled syringes market. Growing demand for efficient and simple-to-use drug delivery devices, as well as increased efforts by healthcare professionals to reduce hospital errors, are key factors driving the market growth. Moreover, the prefilled syringes market analysis will be driven by the rapid advancement of feature-rich devices incorporating cutting-edge technologies, offering patients safer and more convenient self-injection options.

Disposable prefilled syringes dominate the market share owing to a high preference for patient safety

The disposable prefilled syringes market will grow rapidly due to its wide range of applications. Furthermore, these devices reduce a contamination risk, which increases their popularity. The needle is designed for single-use only, and the syringe is disposed of after each use.

Due to the high price of the devices and the complicated technology involved, industry participants are increasingly focusing on manufacturing reusable gadgets, which would cut expenditures. Governments in emerging economies are also implementing initiatives aimed at promoting the utilization of reusable prefilled syringes and needles to mitigate the transmission of diseases among patients. This growing emphasis on reusable prefilled syringes is expected to drive their demand in the coming years.

Demand for plastic prefilled syringes will grow due to the introduction of several innovative materials in Prefilled Syringes Market Analysis.

Previously, healthcare personnel did not utilize plastic syringes for most pharmaceuticals due to the necessity for greater clarity of the substance and leaching-extracting issues that contaminated the needle's contents. However, the introduction of novel materials that are inert to most medications, such as Crystal-Clear Polymer (CCP) and Polypropylene, will increase the use of plastic-prefilled syringes. Furthermore, these syringes have several benefits, including better patient safety, personalization based on patient needs, and simplicity of transfer.

Diabetes Segment holds a significant market share in the Global Prefilled Syringes Market

The increased global incidence of diabetes is a significant factor driving demand for prefilled syringes. Diabetes is one of the most important public health challenges facing the globe today, endangering both public health and socioeconomic growth. According to the International Diabetes Federation, diabetes will affect 537 million persons aged 20 to 79 by 2021. The number of diabetics is anticipated to reach 783 million by 2045.

Diabetes patients typically utilize prefilled syringes to provide many insulin doses each day. A huge patient base, an increasing incidence of diabetes, and the demand for better and safer insulin delivery devices are among the important factors projected to contribute to this segment's domination throughout the projection period.

Report Details:

Double-chamber prefilled syringes will grow due to higher efficiency in Global Prefilled Syringes Market

The growing technological innovations and shifts in preference from single-chamber syringes to double-chamber systems will likely enhance the demand for double-chamber systems in the coming years. Double-chamber needles are highly efficient for storing biological components that cannot retain their stability for extended periods. Moreover, the growing penetration of lyophilized drugs globally will likely surge the demand for syringes during the forecast period.

Hospital distribution channel holds the largest Global Prefilled Syringes Market share and will continue to do so during the forecast period.

The hospital category's dominance is attributable to an increase in diabetes, cardiovascular disease, and cancer admissions. Because of its wide variety of uses, hospitals are the principal consumers of these syringes. Furthermore, the growing emphasis on constructing healthcare infrastructure in developing Asia Pacific and African countries will drive hospital expansion.

Asia Pacific will register the fastest growth due to the development of fast-growing economies:

The Prefilled Syringes Market in the region is expected to witness substantial growth, propelled by favourable demographic factors including a large population and an increasing prevalence of diverse chronic diseases. China leads the developed prefilled syringes market. According to Front Public Health, chronic noncommunicable diseases (NCDs) will contribute to roughly 80% of mortality in China among persons over the age of 60 by 2020, with Stroke, Ischemic Heart Disease, COPD (Chronic Obstructive Pulmonary Disease), and Type 2 Diabetes being the most frequent. Countries such as Japan and India, on the other hand, offer enormous growth opportunities by attracting major market players and increasing Foreign Direct Investment (FDI) and product demand.

Competitive Landscape

Prominent companies competing currently in the Global Prefilled Syringes Market are Gerresheimer AG, Medtronic Plc Abbott Laboratories, Bayer AG, Baxter International Becton, and Catalent, Inc.

Market Summary:

• Type - The Report covers Prefilled Syringes Market, by type in 2 viewpoints (Disposable, and Reusable).
• Material - By material, the Prefilled Syringes Market, breakup in 2 viewpoints (Glass, and Plastic).
• Application - The Report covers Prefilled Syringes Market, by application in 5 viewpoints (Diabetes, Rheumatoid Artheitis, Anaphylaxis, Antithrombotic/Thrombolytic Therapy, Others).
• Design - By design, the Prefilled Syringes Market, breakup in 3 viewpoints (Single-chamber, Dual-Chamber, and Customized).
• Distribution Channel- Renub Research report covers by distribution channel in 4 viewpoints (Hospital, Blood Collection Centers, Diabetic Care Centers, and Others).
• Region - The Prefilled Syringes Market by region breakup in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle-East).
• Key Players - All the major players have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) Gerresheimer AG, Medtronic Plc Abbott Laboratories, Bayer AG, Baxter International Becton and Catalent, Inc.

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