Prefilled Syringes Market is geared to grow at a CAGR of 12% from 2023 to 2032, owing to rising adoption of self-medication and digitalization | insightSLICE
The market for Prefilled Syringes was valued at US$ 18.7 billion in 2021 and is projected to increase at a CAGR of 12% from 2023 to 2032.
The market share, trends, analysis, and projections for the years 2022 to 2032 are just a few of the topics that will be covered in the report for the Global Prefilled Syringes Market. Herein, 2020 is used as the historical period, 2021 as the base year, and 2022 through 2032 as the actual prediction period in this study.
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The competitive environment is taken into account in this study, which also offers top competitors in the global market for Prefilled Syringes manufacturing company overviews and forecasts.
In addition, the report will include information on important advancements, global and regional sales networks, business strategies, research and development initiatives, staff strength, and key executives for all significant market participants.
The key players of the Global Prefilled Syringes Market are:
Abbott Laboratories, Becton, Dickinson and Company, Baxter International, Medtronic plc., Unilife Corporation, Vetter Pharma International GmbH, Nipro Corporation, Gerresheimer AG, Terumo Medical Corporation, and West Pharmaceutical Services, Inc. are major industry participants in the prefilled syringes market worldwide.
Driving factors for the growth of Global Prefilled Syringes Market
The primary factors driving the global adoption of prefilled syringes are their superiority to regular syringes in terms of comfort, convenience, cleanliness, safety, and precision.
Due to its widespread acceptance, parenteral drug delivery has had a surge in popularity over the past century; nevertheless, traditional syringe and veil-based drug delivery have lost favor due to lack of convenience, high cost, and safety issues.
The prefilled syringes provide great levels of simplicity in drug delivery via specifically created cartridges, allowing a patient to self-administer the exact therapeutic amount without assistance from a healthcare worker.
In addition, prefilled syringes are less expensive than conventional syringes. In comparison to the cylinder-shaped glass barrels and tightly-fitting glass rods used in conventional syringes, cartridges made of recyclable plastic are more affordable.
To account for drug loss while administration and ensure a correct dosage quantity, producers had to overload the glass veils, raising the cost of production. However, by using precisely machine-filled cartridges, prefilled syringes assist in lowering the production costs related to overfilling medications.
These elements have considerably aided in the high-income countries’ quick adoption of prefilled syringes. Throughout the forecast period, it is anticipated that the global prefilled syringes market will expand.
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Sector and corporate level statistics:
With a focus on every functioning business category, the study gives in-depth research of leading companies with a majority share of the global market. This would help discover the firm segment that is most interested in prefilled syringe products.
Additionally, it will assess the market shares of well-known businesses in the prefilled syringes market globally. As an illustration from this report, the three divisions that Becton, Dickinson, and Company operate under are BD Medical, BD Life Sciences, and BD Interventional.
According to Becton, Dickinson, and Company’s examination of its product segments, the company’s BD Medical business segment generated the majority of the company’s USD 17.3 billion in revenue in 2019.
Whereas, the prefilled syringe products are provided by the company’s BD Medical business unit, which contributed US$9.1 billion in revenue in 2019.
The report also focuses on producing essential competitive data from all prefilled syringe manufacturing companies, such as their business strategy, product portfolio, major plans, SWOT report, and innovative practices.
The participants involved in the market ecosystem and their contributions will be taken into account in the global prefilled syringes market study. All of the goods in the company’s prefilled syringes business sector would be the main emphasis of the product portfolio.
Similarly, to that, the section on recent developments would concentrate on the company’s most recent activities, including strategic alliances and collaborations, mergers and acquisitions, the introduction of new products, and geographic expansion in the prefilled syringes industry.
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Global Prefilled Syringes Market Key Segments:
Based On Material
- Glass-based Prefilled Syringe
- Plastic-based Prefilled Syringe
Based On Type
- Disposable Prefilled Syringes
- Reusable Prefilled Syringes
Based On Design
- Single Chambered Prefilled Syringe
- Dual Chambered Prefilled Syringe
- Customized Prefilled Syringe
Based On Applications
- Rheumatoid Arthritis
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
Regional performance of Prefilled Syringes Market
Because of its initial implementation of prefilled syringes, high penetration across various end-use industries, and the existence of top pharmaceutical manufacturers, North America accounted for the major market of the global prefilled syringes market in 2019 and is expected to continue to hold this position throughout the forecast period.
Due to rising acceptance across important nations, the Asia Pacific region is expected to experience the quickest growth in the prefilled syringe market in the coming years.
During the projected period, it is anticipated that China and India’s expanding investments in biopharmaceuticals and healthcare infrastructure would present significant growth prospects.
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