Around 2/5th Sales of Global Prefilled Syringe Dominated by Glass-Based Materials – Fact.MR Study
250 Pages Prefilled Syringes Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Prefilled Syringes to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Prefilled Syringes market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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The global market for prefilled syringes is expected to grow at a value CAGR of nearly 10% from 2021 to 2031. Short-term forecast appears equally lucrative, registering a growth rate of 9.6% until 2026.
As the pharmaceutical industry explores innovative and more convenient drug delivery systems, pre-filled syringes have emerged as one of the fastest-growing options for unit dosage medicine. Revenues in the prefilled syringes industry are expected to double throughout the forecast period.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Prefilled Syringes market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Prefilled Syringes
The report offers actionable and valuable market insights of Prefilled Syringes. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Prefilled Syringes Market across various industries and regions
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Key Segments Covered
- Single Chambered Prefilled Syringes
- Dual/Multi Chambered Prefilled Syringes
- Conventional Prefilled Syringes
- Safety Prefilled Syringes
- Prefilled Syringes across Hospitals
- Prefilled Syringes across Specialty Clinics
- Prefilled Syringes across Online Pharmacies
- Prefilled Syringes across Other Distribution Channels
- Glass based Prefilled Syringes
- Polymer based Prefilled Syringes
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The market for prefilled syringes is moderately competitive, with intense price rivalry. The market includes both global and local companies. Most poor nations have local players who sell prefilled syringes at a reduced cost.
- In December 2020, Becton Dickinson & Company announced its decision to invest approximately US$ 1.2 billion over a 4-year period to expand and upgrade its manufacturing capacity and technology for pre-fillable syringes and advanced drug delivery systems
- Likewise, in September 2019, Terumo Corporation received approval in Japan for its TeriboneTM 28.2 µg formula to treat osteoporosis. This formulation is compatible with the company’s PLAJEXTM syringe, assembled as an auto-injector delivery device for single dose usage.
Key Highlights on the Global Prefilled Syringes Market:
- North America in terms of sale of prefilled syringes tops other regional market during the period of assessment. This regions, especially dominated by United States, has witnessed increased adoption of glass prefilled syringes owing to high presence of chronic disorders. On the other hand, Asia Pacific excluding Japan (APEJ) region is expected to showcase increased inclination towards these injectable drug delivery systems. Asia Pacific excluding Japan region has shown immense potential as a favorable market place for various end use industries owing to its huge business potential. This has increased the presence of various pharmaceutical industries in the region. Moreover, increasing population growth in China and India, along with aging population has raised the demand bar for prefilled syringes to inject drugs to treat diseases such as diabetes and other autoimmune disorders
- By material type, glass based prefilled syringes hold the highest market share and sales of glass based prefilled syringes is estimated to surpass U$ 7.5 Bn by end of 2026. However, owing to high fragile nature of these syringes, manufacturers have developed polymer based prefilled syringes that are also gaining high traction. Polymer based prefilled syringes have a comparatively higher break resistance and do not react with the drug they carry
- With respect to distribution channels, hospitals are the most lucrative. Sale of both glass and polymer based prefilled syringes from hospitals is estimated to reach a value of over US$ 6.5 Bn by end of the year of assessment. Online pharmacies and specialty clinics are also expected to significantly contribute to the growth of the global prefilled syringes market in the coming years
- By technology type, sale of conventional prefilled syringes is higher than safety prefilled syringes. However, rate of sales of safety prefilled syringes is expected grow at a higher pace than the conventional product during the period of forecast
- By function type, single chambered prefilled syringes have gained high steam since past years. This segment is expected to grow at higher rate during the period of forecast and the sale of single chambered prefilled syringes is estimated to reach a value of over US$ 8 Bn by end of the year of assessment (2026)
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Report Benefits & Key Questions Answered
- Prefilled Syringes Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Prefilled Syringes Historical volume analysis: The report provides a comparison of Prefilled Syringes’s historical sales and projected sales performance for 2021-2031.
- Prefilled Syringes Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Prefilled Syringes market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Prefilled Syringes Consumption by demographics: The report investigates consumer behavior affecting Prefilled Syringes demand outlook for the assessment period. Effect of their keenness for digital trends on Prefilled Syringes market is carefully analyzed
- Post COVID consumer spending on Prefilled Syringes: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Prefilled Syringes market growth.
More Valuable Insights on Prefilled Syringes Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Prefilled Syringes, Sales and Demand of Prefilled Syringes, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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