Increasing chronic diseases is stimulating high injectable drugs demand, prompting a spike in prefilled syringes
Increasing chronic diseases is stimulating high injectable drugs demand, prompting a spike in prefilled syringes
Fact.MR, Rockville MD: Award winning market research company Fact.MR has conducted a research study on the global prefilled syringes market. As per the study, a positive growth outlook is expected for 2021, primarily underpinned by growing demand for efficient and injectable drug delivery system. Enhanced safety and ease in use to foster the sales in the upcoming years.
According to Fact.MR, the market remains positive on the long-term outlook, projecting the growth to increase at nearly 9.1% CAGR through 2021 and beyond.
According to the World Health Organization, approximately 400 million adults suffer from diabetes and are expected to increase more in the upcoming years. The latest study states, over 1 million children are diagnosed with type 1 diabetes. Hence, accelerating the sales for prefilled syringes.
“Prominent manufacturers are increasing their adoption of injectable drug delivery system and Fact.MR report opines that prefilled syringes manufacturers prefer glass based prefilled syringes,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Prefilled syringes Market Study
- By material, glass prefilled syringes to acquire high priority attributed to higher stability and non-reactive nature
- Veterinary hospitals & clinics to remain primary distribution channels for prefilled syringes products
- US to emerge as a potential market backed by high expenditure on injectable drug delivery system
- U.S and Canada to witness high growth, attributed to increasing chronic diseases due to heavy consumption of tobacco and smoking
- India to emerge as a promising prefilled syringes products hub, owing to governmental initiatives promoting animal husbandry
Prefilled syringes Market- Prominent Drivers
- Extensive use of advanced polymer material increased the adoption of prefilled syringes
- Adoption of efficient drug delivery systems in pharmaceutical companies to fuel the sales of prefilled syringes
- Burgeoning sales of glass prefilled syringes to bolster the growth
Prefilled syringes Market- Key Restraints
- Dearth of integrated safety features in prefilled syringes to hamper the sales
Discover more about the prefilled syringes market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/603/prefilled-syringes-market
Competitive Landscape
Key manufacturers operating in the global prefilled syringes market include Becton Dickinson and Company, Terumo Medical Corporation, Baxter International Inc., Medtronic, Gerresheimer, Schott AG, Stevanato Group, Vetter Pharma International GmbH, West Pharmaceutical Services Inc., and Unilife Corporation among others. Introducing new treatment approaches and developing effective drugs to combat infections is a key growth strategy adopted by the aforementioned players.
In March 2021, leading global medical technology company, Becton Dickinson and Company acquired GSL Solutions. The acquisition helped expand BD’s advanced medication management capabilities to further meet the needs of retail pharmacies, including those in outpatient settings.
In December 2020, Stevanato Group partners with Microsoft: Cloud Computing and Remote Assistance to meet the challenges of the pharmaceutical industry.
More Insights on the Prefilled syringes Market Report
In its latest report, Fact.MR offers unbiased analysis of the global prefilled syringes market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (glass based prefilled syringes, and polymer based prefilled syringes), distribution channel (hospitals, specialty clinics, online pharmacies, and other distribution channels), technology type (conventional prefilled syringes, and safety prefilled syringes), function type (single chambered and dual/multi chambered glass), across seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ and Middle East & Africa)
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Source: Fact.MR