Companies Must Invest Heavily in Biotech to Remain Competitive in Prefilled Syringes Market, States Fairfield Market Research
Ever-improving drug delivery methods continue to gain popularity in the pharmaceutical industry as advanced medical technology percolates into emerging economies. A breakthrough has been the shift away from traditional syringes to disposable plastic ones and now prefilled syringes. Prefilled syringes are well-suited to injectable diluents and are a safer option as they are disposed after one use. Prefilled syringes are deployed in blood stimulants, vaccines, erythropoietin, and interferons. A surge in demand for convenient, affordable, accurate, and sterile parenteral drug delivery is benefiting stakeholders in the prefilled syringes market.
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Rise of Cheaper Alternatives Can Reduce Growth Rates in Prefilled Syringes Market
Amidst a consumption spike in prefilled syringes within the pharmaceutical industry, manufacturers must ensure that their packaging does not result in any adverse reaction. Any prefilled syringe reaction with drugs causes stability concerns. For e.g. – extractables & leachable (E&L) can interfere with drug molecules, reducing the effectiveness of the drugs, leading to major quality control issues. Furthermore, the elimination of needlestick injuries and cheaper alternatives is a key concern of companies operating in the prefilled syringes market.
Prefilled Syringes Increase Drug Lifespan Making Them Perfect For Remote Rural Areas
Compounded sterile preparations minimize the risk of cross contamination and microbial ingress, improving patient safety. Prefilled syringes contain the exact dosage unlike vials that are overfilled, eliminating dosing errors. Prefilled syringes eliminate the processes before an individual uses vial drugs. As biotechnology has made drugs prohibitively expensive, prefilled syringes are advantageous as they allow lesser waste - ideal in case of drug and vaccine shortages. Pharmaceutical companies can increase a drug’s lifespan when patients self-administer drugs through prefilled syringes. Prefilled syringes are the optimal drug delivery mechanism in far-flung remote areas. Prefilled syringes enable self-administration of monoclonal antibodies necessary to fight numerous chronic conditions, fuelling growth in the prefilled syringes market.
Convenience of Storage and Use Explains Popularity of Single Chamber Prefilled Syringes
The single-chamber prefilled syringes segment is anticipated to boom in the forecast period as they are convenient to store, use, and dispose. In addition, single chamber prefilled syringes have a lesser material requirement, produce lower waste during clinical trials, and optimize active pharmaceutical ingredient use, preventing overfill. Single chamber prefilled syringes have been particularly sought after in home healthcare settings over the last decade. A greater acceptance of routine drugs among chronically ill patients is responsible for growth in the prefilled syringes market and this is likely to continue throughout the forecast period.
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Becton, Dickinson and Company Aggressively Expanding in Prefilled Syringes Market
Becton, Dickinson and Company (BD) holds a dominant position in prefilled syringes market due to its large customer base, diverse product portfolio, and worldwide presence. The company recently made a significant investment in expanding its existing capacity in Europe, along with six locations in the US, Japan, and Mexico. Other companies profiled in this report on the prefilled syringes market are Baxter International Inc., Catalent Inc., Elcam Medical ACS. Ltd, Gerresheimer AG, Nipro Medical Corporation, Oval Medical Technologies Limited, SHL Medical AG, Stevanato Group, Terumo Corporation, Vetter Pharma-Fertigung GmbH & Co. KG, West Pharmaceutical Services, Inc., and Ypsomed Group.
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