DUBLIN, DUBLIN -- (SBWire) -- 03/11/2021 --Prefilled Syringes Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
Prefilled syringes provide several benefits in the pharmaceutical sector, which is a major factor that is contributing to the growth of the global prefilled syringes market size. Eradicating dosing errors and the ease of use are the major benefits offered, which are encouraging the end-users to opt for these syringes. Moreover, various strategic plans and strategies initiated by the leading companies, such as the introduction of new product offerings, is further driving the market growth. In 2019 BD introduced the pre-fillable syringe with an aim to deliver a patient-centric solution called nine BD Intevia, with autoinjector attributes.
As per the prefilled syringe market report, the continuous expansion of the home-based healthcare market is a major factor that is further boosting the growth of the market. The emergence of the COVID-19 has also supported the growth of the market as players like J&J have experienced an increase in the demand for home healthcare products, including prefilled syringes. Various pharmaceutical players overfill vials by up to 24% in order for reuse of the dose if needed. On the other hand, this overfill can be eliminated with prefilled syringes. With the introduction of novel drugs, this method has become more viable and less time-consuming, which is further surging the prefilled syringes market growth.
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Prefilled Syringes Market's leading Manufacturers:
- BD
- J&J
- Gerresheimer AG
- Owen Mumford Ltd.
- Medtronic
- Gerresheimer AG
- SCHOTT
- Stevanato Group
- HONJO-NISHI KITA-KU OSAKA
- Haselmeier
Type Segment Drivers
Based on the type, the plastic based segment is projected to grow at a faster CAGR during the forecast period. Inertness and clarity provided by the plastic based products is a key driver that is responsible for the segment's growth. Plastic based syringes help in maintaining the property of stored drug dosage while improving the level of safety. Furthermore, plastic prefilled syringes decrease the cost of the dose, which is another factor that is driving the segment's growth.
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Regional Drivers
Based on the region, Europe is projected to grow at a higher CAGR during the forecast period. The strong presence of various major companies in the market, which include J&J, Gerresheimer AG, BD, Owen Mumford Ltd. etc., has helped in the market expansion. The increased rate of chronic disease is further boosting the regional market growth. As per the "European Chronic Disease Alliance" one-third of the population in Europe and 23.5% of the working age population in the EU are suffering from any chronic diseases. Europe has the highest number of chronic disease patients, which amounts to 86% of all deaths. This factor is supporting the market growth in the coming years.
Prefilled Syringes Market Segmentation:
Segmentation by Type:
- Glass Based
- Plastic Based
Segmentation by Application:
- Diabetes
- Cancer
- Arthritis
- Anaphylaxis
- Opthalmology
Segmentation by Chamber:
- Single
- Dual
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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Prefilled Syringes Market Size, Share, Growth & Industry PDF Report, 2020-2027
The GMI Research's latest analysis reveals that the Prefilled Syringes Market is slated to register a higher CAGR over the coming years. The significant growth in the home-based healthcare market and the various advantages offered by the prefilled syringes in the pharmaceutical sector are the two major factors that are surging the growth of the prefilled syringes market share in terms of revenue.