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01-Apr-2019

Global Prefilled Syringes Market Global Outlook With A Expected CAGR Of 10.3% By 2026

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 offers in-depth insights, revenue details, and other vital information regarding the global prefilled syringes market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

A syringe basically consists of a plunger and a cylindrical tube called a barrel. Open end of the syringe can have a needle or a tubing attached to direct flow into and out of the barrel. Syringes are used to administer various types of drugs into the bloodstream of an individual. Prefilled syringes are basically ready-to-use pharmaceutical products. They are disposable syringes that contain liquid or substance which is to be administered to a patient prefilled. These are primarily used to deliver accurate dose of drugs to a patient, and is particularly useful when an individual is suffering from long-term conditions where-in self-administration of medication becomes necessary.

High prevalence coupled with increasing incidence of diabetes and increasing preference for self-administered drugs and vaccines among individuals in developed and developing economies are major factors driving growth of the global prefilled syringes market. In addition, presence of a large patient population in emerging economies, growing demand for single-use and disposable syringes, and technological developments in prefilled syringes are other major factors anticipated to fuel growth of the global prefilled syringes industry over the forecast period.

Moreover, developments in minimally invasive and non-invasive forms of drug administration in the recent years is another factor projected to limit growth of the global prefilled syringes market to a significant extent.

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The global prefilled syringes market report has been segmented on the basis of type, material, design, application, and region.

On the basis of type segmentation, disposable prefilled syringes segment is expected to account for major revenue share in the global market and projected to register a CAGR of over 10%, in terms of revenue over the forecast period, owing to high preference for these types of prefilled syringes among individuals for self-administration and disposable prefilled syringes being cost-effective as compared to that of reusable prefilled syringes. Moreover, the disposable prefilled syringe segment in the global prefilled syringes market is projected to maintain its dominant revenue contribution in the global market over the forecast period.

The glass prefilled syringe segment dominated the global prefilled syringe material segment in revenue terms, accounting for highest revenue share and registering a CAGR of over 9% during the forecast period 2017 & 2026. It is further projected to maintain its dominant revenue contribution over the forecast period, owing to high preference for glass prefilled syringes by individuals and healthcare professionals. Also, technological advancements in inspection procedures for glass prefilled syringes and advances in manufacturing processes are other factors anticipated to fuel growth for the glass prefilled syringe segment over the forecast period.

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.

The rheumatoid arthritis segment accounted for second-highest revenue share among the other application segments in the global prefilled syringes industry. It is closely followed by the others and anaphylaxis segments in terms of revenue contribution.

The North-America market is expected to account for second-highest revenue share in the global prefilled syringes market, with an estimated value of US$ 1,139.5 million in 2017. This is attributed to high prevalence rate coupled with increasing incidence of chronic diseases, technological advancements in prefilled syringes, and high adoption of prefilled syringes for self-administration of insulin by an increasing consumer base of diabetics in countries in the region.

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Moreover, markets in Latin America and Middle East & Africa are also projected to witness moderate growth over the forecast period due to increasing prevalence of lifestyle-related diseases, obesity, and diabetes.

Some 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, MedPro Inc.

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Last Updated: 01-Apr-2019