According to Emergen Research, the global prefilled syringes market size was USD 5.22 billion in 2020 and is expected to reach USD 9.92 billion in 2028 and register a revenue CAGR of 8.9% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Prefilled Syringes Market, By Type (Reusable, Disposable), By Material (Plastic, Glass), By Application (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Cancer, Others), By Distribution Channel (Biotechnology & Pharmaceutical Companies, Hospitals, Ambulatory Surgery Centers, Mail Order Pharmacies, Others), and By Region Forecast to 2028”
According to Emergen Research, the global prefilled syringes market size was USD 5.22 billion in 2020 and is expected to reach USD 9.92 billion in 2028 and register a revenue CAGR of 8.9% during the forecast period, 2021-2028.
Market Dynamics:
The global prefilled syringes market revenue growth is significantly driven by factors such as rising prevalence of chronic diseases such as rheumatoid arthritis, diabetes, and autoimmune diseases across the globe, growing geriatric population, rapid adoption of new and advanced biologics and biosimilars, and rising awareness of the many advantages of prefilled syringes. Rapidly rising cases of the novel coronavirus disease worldwide, growing demand for prefilled syringes amid the global COVID-19 vaccination drive, technological advances in injectable drug delivery devices, and increasing adoption of self-injection parenteral devices are among the other key factors expected to boost the global prefilled syringes market revenue growth over the forecast period.
Growing use of prefilled syringes by healthcare providers, owing to advantages such as high accuracy, greater convenience, easy-to-use features, better affordability, reduced drug waste, and minimized errors is a major driver for the market revenue growth. However, factors such as rising incidences of product recalls, high manufacturing costs, and limited production of plastic syringes are expected to restrain market revenue growth to a major extent.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Disposable Segment Accounted for Largest Revenue Share in 2020:
Based on type, the disposable segment accounted for the largest revenue share in the global prefilled syringes market in 2020. Growing preference for disposable prefilled for hospitals and home healthcare settings, owing to certain advantages such higher accuracy, increased safety, and minimized risks of contamination, is one of the key factors driving revenue growth of this segment.
Glass Segment To Register Rapid Revenue CAGR:
Based on material, the glass segment is projected to register the fastest revenue growth rate in the global prefilled syringes market over the forecast period. One of the major factors driving revenue growth of this segment is rising demand for glass prefilled syringes in healthcare settings due to significant advantages of glass over other materials, such as high compatibility with different filling machines, seamless integration, and prevention of water vapor and oxygen from interacting with drug compounds.
Europe Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the Europe prefilled syringes market dominated other regions terms in terms of revenue share in the global market in 2020. Increasing prevalence of chronic diseases, rapid adoption of advanced biologics and biosimilars, technological advancements in drug delivery systems, and growing demand for self-injection devices are among the key factors driving revenue growth of the market in the region.
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Major Companies in the Global Prefilled Syringes Market Include:
- Becton, Dickinson and Company
- Gerresheimer
- SCHOTT AG
- West Pharmaceutical Services, Inc.
- Baxter International Inc.
- Ompi
- Catalent, Inc.
- Weigao Group
- Vetter Pharma International GmbH
- Nipro Corporation
- Elcam Medical
- YPSOMED
- Oval Medical Technologies
- SHL Medical AG
- Terumo Corporation
For the purpose of this report, Emergen Research has segmented the global prefilled syringes market based on type, material, application, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Reusable
- Disposable
Material Outlook (Revenue, USD Billion; 2018-2028)
- Plastic
- Glass
Application Outlook (Revenue, USD Billion; 2018-2028)
- Diabetes
- Rheumatoid Arthritis
- Anaphylaxis
- Cancer
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Biotechnology & Pharmaceutical Companies
- Hospitals
- Ambulatory Surgery Centers
- Mail Order Pharmacies
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
Reasons to buy the report:
- This study segments the Prefilled Syringes market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Prefilled Syringes sectors.
- This Prefilled Syringes report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Prefilled Syringes market.
Key features of the report:
- To study the key aspects impacting the Prefilled Syringes market size.
- To identify growth prospects in the Prefilled Syringes market.
- To analyze the Prefilled Syringes market segments and deduce the dominant trends observed in the industry.
- To examine the Prefilled Syringes market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Prefilled Syringes market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Prefilled Syringes Market Segmentation & Impact Analysis
4.1. Prefilled Syringes Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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