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14-Feb-2019

Prefilled Syringes Market is Witnessed to Increase by Double Digit CAGR of 10.3% CAGR With Revenue Worth US$ 9,000 Mn in 2026

A syringe is a simple pump consisting of a plunger and a cylindrical tube called a barrel. Open end of the syringe can have a hypodermic needle, nozzle or a tubing that is present to direct flow into and out of the barrel. Syringes are primarily used to administer injections, infuse intravenous therapy into the bloodstream. Prefilled syringes are disposable syringes that contain liquid or substance that needs to be administered prefilled. Prefilled syringes are basically ready-to-use pharmaceutical products. These are mainly used when an individual is suffering from long-term conditions and self-administration of medication is necessary.

The global prefilled syringes market is projected to reach a value of over US$ 9,000 Mn in 2026 at a CAGR of 10.3% over the forecast period. The report also offers insightful and detailed information regarding the various key players operating in the global prefilled syringes industry, and their financials, apart from strategies, acquisitions & mergers, and market footprint.

Increasing incidence of chronic diseases such as diabetes, and growing adoption of self-injection devices are key factors driving growth of the global prefilled syringes market. In addition, rising demand for single-use syringes, and presence of a large patient pool in emerging economies are other factors expected to fuel growth of the global prefilled syringes market over the forecast period. A major and rising trend in the global prefilled syringes market is growing adoption of self-injection devices among individuals in developed and developing economies.

The global prefilled syringes market report has been segmented on the basis of type, material, design, application, and region. On the basis of region, the global prefilled syringes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The reusable prefilled syringes segment is anticipated to expand with the highest CAGR of over 11%, as compared to that of the disposable prefilled syringes segment and account for a revenue share contribution of approximately 17% in the global prefilled syringes market in 2025.

The plastic prefilled syringe segment is projected to register highest CAGR of over 11%, as compared to that of the glass prefilled syringe segment over the forecast period. This can be attributed to developments in plastic prefilled syringes, especially, in the type of plastic polymers used to manufacture plastic prefilled syringes.

The dual-chamber prefilled syringes segment is anticipated to expand with a CAGR of over 9%, among the design segments in the global prefilled syringes industry. It is further estimated to account for a revenue share contribution of approximately 21% in the global prefilled syringes market in 2024.

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Currently, the market in Europe dominates the global prefilled syringes market in revenue terms owing to high awareness levels among individuals about prefilled syringes, and presence of a large patient pool in countries in the region.The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing incidence of diabetes, growing aging population, and rising demand for self-administered medication from emerging economies such as India and China in the region.

Prominent players in the global prefilled syringes market include Becton, Dickinson and Company, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Inc., Stevanato Group S.p.a. (Ompi), Catalent, Inc., Weigao Group, Vetter Pharma- Fertigung GmbH & Co. KG, NIPRO PHARMA CORPORATION, and MedPro Inc.

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Last Updated: 14-Feb-2019